Question by : Can a bank hold the release of TCT for a fully paid mortgage loan because of credit card bad debts?
Best answer:
Answer by zenock I am not a lawyer. But I do not believe they can unless the debt is secured by the home. What they can do is get a lein against the home awarded.
I get mortgage brokers calling to refinance my high rate ARM even though I actually have a 5.5% fixed rate. My credit card company keeps asking me to increase my limit and they keep sending checks in the mail to write against the credit card. (which I always shred).
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I’ve been a dentist for over a year in the UK but when i try to apply for a credit card online i always get refused. Technically Im self employed but when an employment status is asked on sites it gives doctor/dentist and then self employed separate and Im still asked for the name and address of my employer. No matter what way i fill in the answer i always get rejected and i have absolutely no bad credit history. I do have a mortgage and a mobile phone contract so I’ve built up credit scoring so Im completely baffled. Can anyone give me advice?
Keep in mind I hate HAVING DEBTS at the end of the month, if it were up to me I would not even HAVE a credit card like ever (how unconventional and weird, I know) I rather have the money taken directly at the moment I pay which is what happens with a debit card, but as I understand it, I need to have some sort of credit if I’m ever going to be accepted for a mortgage on my future house or to buy a car or things like that,…. otherwise I have no credit and that’s a bad thing? So I need a card which is accepted everywhere and simply is the BEST deal out there with everything it provides. Considering I will be using it as little as I need to get some decent credit (while you’re at it, also tell me what credit should I have, like the amount and period of time over which it will accrue… clear explanations would be great) Your personal advice is really appreciated.
I have a problem with credit cards, and recently paid off a maxed out card with a VERY large credit limit with help from my parents. I would like to close the account so I can’t use it again, but I’ve heard that this will have a negative effect on my credit rating. Is this true, and if so how much of a negative effect? I’m trying to weigh the risk of me caving and racking up more debt vs. the ultimate effect on my credit score for mortgage, care loan, student loan, etc. in the future.
