New answers tagged debt
1
Dealing with the knock-on effects, not just a ding on your credit, will be WAY MORE hassle than finding a way to pay Ameritrade.
Just call them up and tell them you'd like to pay them and turn off margin trading. Ask how they suggest you do this. If they say to wire the money, just explain that you haven't done it before, it seems complicated, and ask if ...
0
It depends on what you need credit for. It could be that 5 years from now you want something and this $50 debt prevents you from being able to get it. Eventually you will need to pay the debt to get around that problem. Better to deal with it now than down the road.
0
Pay them by check, credit card, or debit card.
It will damage your credit enough to worry about.
How much depends on the rating service, and who you want to use credit with in the future to buy something.
2
As others have said, the precise details of credit scores are well-kept secrets, so it's difficult to know the exact effect.
But simply being in debt is not likely to have a negative effect -- that's what loans and margin accounts are for. Your score is impacted if you fail to pay your debts on time.
Furthermore, one late payment should have a minimal impact ...
2
There is no universal "badness" factor to any delinquent debt reported on a credit report and nobody knows the precise effect it would have on any credit score because there are so many credit scoring models in existence and most of them are proprietary formats that are kept secret from as many people as possible (ie. company insiders only will ...
19
Just open another bank account with a different institution.
Walk in, sit down, leave with a new bank account and routing number. (You may be able to do this online with some institutions, but either way you need to fund the new account with some money you already have.)
Connect it to your brokerage account. Initiate a transfer of money that covers the ...
5
ANY unpaid debt is negative for your credit. That being said, there are so many different scoring models, even by the same bureau, that it's virtually impossible to assess the consequences. Some might place more emphasis on small unpaid debts relative to larger ones, others may look at installment debt default as more serious than auto debt default or ...
24
Credit scores are not completely transparent, but when I look at my score there's no mention of the magnitude of any events. Truthfully I have no bad events but the only indication is a count (0), not any indication of size.
A bad event is a bad event. It doesn't matter if it's a $10 default or a $10,000 default - it gets reported the same way from what I ...
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