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If you pay off nine old collections and charge-off accounts over 7 months would there be a drastic increase in your credit score after 16 months?
Wiki User
∙ 8y ago
A consumer's credit score is based on ALL of the information showing in your credit file at the time the score is calculated, not just the items you have mentioned.
Wiki User
∙ 8y ago
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How do it help your credit score when things fall off?
This is not an cookie cutter answer. It all depends on what is falling off. If you have an old loan/ line of credit that had some negative impact (went to collections, or late payment etc.) This will obviously increase your score. If you have something that falls off that had a positive impact on your score these should not move your score at all. All these issues also depend on why they are being removed. If things are coming off due to time they will have already been lowering their impact on your score as they decrease in age. If they are dropping off because they are inaccurate that can have a drastic impact. It really depends on a lot of factors.
Once you have all negative remarks removed from your credit report how drastic will the change in your score be from a 450?
Score improvement depends on how the negative remarks were corrected--bankrupcy, foreclosure, loans that were late paid off and so on. However, if you keep paying everything on time, the score will gradually increase to a decent one over the next couple of years.
What factors would cause a difference in the use of financial leverage for a utility company and an automobile company?
Financial leverage is defined by the text as the amount of debt used in the capital structure of the firm. It is what determines how the company plans to finance their operations. The automobile industries rely heavily on the consumers' demands to purchase more and more every year. Since they are typically a highly leveraged company, they see a much larger increase on the income with increased sales than does a conservative company. As described and noted by the Degree of Operating Leverage, an automobile company is at an extreme risk of financial losses if they do not sell anything as opposed to a more conservative firm. But as their sales increase substantially, they are going to make a much larger income compared to the conservative firm once they pass the break even mark. Now what could cause a difference in the use of their financial leverage would be if the demand for automobiles decreased. Fortunately for the auto industries they house many specialized machines and most of their value for assets comes from PPE. As for a utility company, their products are a necessity so they have the luxury to charge the consumer a set amount and use the cash received to cover for their operations. They also can fluctuate with given natural causes such as a hurricane and increase the costs associated with their use. If you increase the price of an automobile, sales might decline drastically. With an increase in a utility, assuming there isn't a drastic change in habits we will be forced to pay whatever they want to cover their debts.
401k Maximum Contribution Limits?
Your 401k is a fantastic alternative to social security when planning your retirement. The IRS allows you to contribute a certain amount to your 401k each year before paying taxes. This contribution is limited, but each year, the IRS recalculate it based on certain economic factors.The contribution is not applicable to taxesEvery year, you are allowed to contribute to your 401k before taxes are due. This contribution is written out of your taxes and is a great way to save money and drastically decrease your tax bill. The amount you can contribute depends on the year and your current age. It is made up of two parts: 401k contribution limit and a catch-up contribution. Those over 50 may submit both. Currently, the contribution limit is $16,500 and the catch-up contribution is $500.If you do not plan to spend your entire year's earnings, it is best to contribute the maximum amount to your 401k and save a bundle in tax breaks. Changes in the maximum amountOver the years, the maximum 401k contribution amount has grown from $7,000 in 1987 to $16,500 in 2011. For the past few years, however, the maximum contribution amount has not increased. Experts say that this is due to the currently low rate of inflation, which is not drastic enough to trigger any sort of increase. The IRS bases its increases on a price index for urban workers. The projected increase for 2012 stands at $17,000. The added $500 is not as drastic as some of the increases in the past, but it is certainly an improvement.Keep track of the maximum amount predictions in order to figure out how much money to put away for your 401k contribution. The 401k contribution is a fantastic way to save money and plan for your retirement. If you keep a sharp eye out for any increases in the maximum limit, then you are sure to benefit from this retirement option.
How does foreclosure impact my credit score?
Foreclosure can have a drastic effect on your credit score. Your credit rating decreases with missed payments on your home, as well as other bills. In addition, the foreclosure itself can lower your score by over 100 points. In addition, a foreclosure can stay on your record for seven to ten years. Forclosure can and will have a very negative impact on your credit score. This is an unfortunate by product of the recent economic crisis.
The thermosphere is characterized by a drastic increase in temperature. What is the reason for this increase?
absorption of ultraviolet rays from the Sun
The thermosphere is characterized by a drastic increase in temperature What is the reason for this increase?
Absorbtion of ultra violet rays from the sun.
What is an economic condition marked by a drastic decline in production and sales and a severe increase in unemployment?
Depression.
A sentence with drastic in it?
Drastic times call for drastic measures. That was a rather drastic action, don't you think?
Which would be the most likely effect of a drastic reduction in all the producer organisms in a meadow environment?
All of the snake populations would increase.
What is a sentence with the word drastic?
I had a drastic dream last night
When was Drastic Plastic created?
Drastic Plastic was created in 1977.
When was Drastic Fantastic created?
Drastic Fantastic was created in 2006.
A drastic drop in the value of money coupled with a rise in prices?
When there is an increase in prices for good and services combined with a reduction in the value of money it is known as inflation.
What group who favored drastic change?
Anarchists favored drastic change.
How do you wrte a sentence using the word drastic?
We have to take drastic measures!!
How would you use the word drastic in a sentence?
i love the word drastic
