2006-10-18 07:04:10 · 10 answers · asked by south_carolina_girl 1 in Business & Finance ➔ Credit
You will lose your furniture and ruin your credit score. Get a credit counselor before you start missing payments and they have to start doing something about the problem. They want your money and will be patient, not your furniture.
2006-10-18 07:38:27 · answer #1 · answered by Paul K 6 · 0⤊ 0⤋
This is complex question. FICO looks at the type of accounts you have when calculating your score. The ideal FICO score would include a mix of installment, revolving (some charge, some credit and some store) and real estate accounts. If all you have are credit cards, your score potential will be less than someone that has a couple Visas, a couple store cards, an AMEX, a couple car loans (preferably one paid off), a couple signature loans and a mortgage or two. If you've never had a mortgage before, your score will probably go up 5-10 points when the account reports. FICO also takes into consideration the average age of all your accounts and docks points for lower ages and gives points for higher ages. If you have 10 accounts reporting with an average age of 20 years, a new mortgage won't change your average age much. If you have 3 accounts reporting with 5 years average age, your score will drop a few points because your average age will drop quite a bit. Because there's only a few points either way, it's likely one factor will offset the effects of the other factor and after everything is taken into consideration, you end up very little or no change.
2016-03-18 21:32:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I guess it depends on where the debt is.. furniture stores will usually send to credit bureau.. if its from a rental place they will come repo everything... call the store and explain ur dilimena, if you make no contact they will assume you just do not want to pay for it, make good and stay in good standing with credit line. good luck
2006-10-18 07:09:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
see a credit counselor right away.
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2006-10-18 07:11:56 · answer #4 · answered by macdoodle 5 · 0⤊ 0⤋
it depends on the company - if it is a rent to own place like Aaron's they will pick it up if you are unreachable they can have a warrant issued for your arrest. Most other stores will simply send the account to collections and ruin your chances of getting another furniture store account.
2006-10-18 07:06:36 · answer #5 · answered by Jazz 4 · 0⤊ 2⤋
Most of the time they ask for their merchandise or the money. But what most people don't know is that they have insurance on all of their merchandise so that if you dont give them any money and keep their stuff they still get paid for it. Then they collect the insurance money and still harass you....They try to get paid twice!!!!! Dont let them get you!!!!!
BY THE WAY THEY DO NOT HAVE YOUR SSN SO THEY CAN NOT REPORT IT TO THE CREDIT BUREAU!!!!!! THIS IS A LIE DONT BELIVE IT!!!!
2006-10-18 07:07:43 · answer #6 · answered by hahauknow 2 · 0⤊ 2⤋
installments are on your credit. they will report it to the bureaus.
2006-10-18 07:06:02 · answer #7 · answered by ondreforsure 3 · 1⤊ 0⤋
you loose your furniture..................
2006-10-18 07:07:10 · answer #8 · answered by rick 1 · 1⤊ 1⤋
Better get out the lawn chairs, they're taking your sofa!! Duh!
2006-10-18 07:15:29 · answer #9 · answered by Anonymous · 0⤊ 0⤋
They will repossess your furniture. DUH
2006-10-18 07:05:45 · answer #10 · answered by to_sassy4_u 5 · 2⤊ 2⤋