10-05-2005, 12:41 PM
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 Re: Is Rapid Credit Card Dept Repayment Bad? In article <1128477132.351565.146580[at]g43g2000cwa.googlegroups.com> , "Mark" <sinclair.mark[at]gmail.com> wrote: - quote - > Hello - I find myself in the situation of being able to pay off all my
If you were dinged on your credit score, it would only be a few> credit cards due to an unexpected inheritance. Does anyone know if > there is any negative aspect to paying them all down all at once? > Should I spread it over 4-6 months perhaps? I am concerned that the > credit agencies might be sophisticated enough to differentiate between > a pattern of regular repayments (good) versus lump sum repayment points, and hardly be material. It is far better to pay off the debt and avoid the large interest payments. That will leave you in a much more sound financial position (as long as you can avoid running up the debt again). -john- -- ================================================== ==================== John A. Weeks III 952-432-2708 john[at]johnweeks.com Newave Communications http://www.johnweeks.com ================================================== ==================== |
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#-1
10-05-2005, 09:59 AM
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| Is Rapid Credit Card Dept Repayment Bad? Hello - I find myself in the situation of being able to pay off all my credit cards due to an unexpected inheritance. Does anyone know if there is any negative aspect to paying them all down all at once? Should I spread it over 4-6 months perhaps? I am concerned that the credit agencies might be sophisticated enough to differentiate between a pattern of regular repayments (good) versus lump sum repayment (bad?). Perhaps I'm giving them too my "credit" here. Thanks Mark |
| Tags |
| bad, card, credit, dept, rapid, repayment |
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