It will take a while for your credit to recover from a $10,000 debt, so you might not be able to get a card right away, but the only way to start rebuilding is to pay off the collections, its a one step at a time process, so lets say you pay off the debt and keep all your bills up to date along a span of lets say 3 months, i could see you being able to get approved for a card after that.
2007-01-25 10:03:59
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answer #1
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answered by Bennett 2
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If they are at collections, you should get out for about 50 cents on the dollar or less, enter an inexpensive credit repair program and get new credit cards before you know it.
2007-01-25 10:01:13
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answer #2
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answered by CALIFORNIA GOLD 3
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I don't see why not that is if you pay off the lump sum all at on time.
If it went to a colection agenecy once you pay off the dedt I really don't see why they would not give you a credit card again it just will not have a large line of credit.
2007-01-25 10:04:48
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answer #3
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answered by Tom Sawyer 6
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Depends upon your company's policy on personal credit card use. Some companies do not allow it and there can be consequences (lose your job, garnish your wages). Can't you borrow from a bank to settle the card?
2016-03-29 02:34:34
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answer #4
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answered by Anonymous
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Negative items on your credit report stay there for seven years.
No one can take them off. I know this from a very bad marriage and the "significant other" just ruined my credit. Now seven years later, I'm back in good shape.
In the mean time, learn to use cash, save for things you want, set a monthly budget, etc. I know........doesn't sound fun at all, but it does work.
2007-01-25 10:06:28
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answer #5
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answered by Anonymous
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I strongly suggest that you contact the collection agencies, that you would like to pay off all the debt, but that you would like them to remove any bad reports from your credit report,
They will do it in many cases.
That will allow you to get another creditcard.
2007-01-25 10:02:45
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answer #6
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answered by Dawn H 3
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Don't mean to be rude, but obviosly you don't need a credit card...I don't either (though I never have had 10K in collections)
I don;t believe anyone needs them, but if you have had that much trouble with them in the past...stay away :)
2007-01-25 12:06:40
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answer #7
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answered by Anonymous
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When you pay your debts it is best to wait 60 days to allow all the creditreporting agencies to update their records. Then ask the Big three for updated records to make sure they have it right. it is worth the time and you get a free report once a year from all three reporting agencies. Expierian, equifax, transunion.
2007-01-25 10:05:26
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answer #8
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answered by marens_2000 1
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You could get a credit card that is secured with a savings account as collateral.
2007-01-25 10:02:16
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answer #9
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answered by Vivian D 4
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Why would you want another credit card? why not cut the dependency and start using cash?
Read: The Total Money Makeover
2007-01-25 10:39:14
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answer #10
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answered by mldjay 5
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