by Juan Carlos
Hello, My ex girlfriend and I purchased a timeshare in 04 for $6000, I lost my job in 08 got down to $4800 broke up and she stopped paying on it, credit report shows that I owe $1200 on it but $0 on hers. She wants to buy a house (without me) but she has this collection for $0 on her credit report. What can be done to remove this from her credit report?
Reply from DebtCollectionAnswers.com: If you girlfriend was a cosigner on the timeshare and it went to collections, then it can legally be reported on her credit report for up to 7.5 years. She can try asking them to remove it, but that may open a can of worms if there is still a balance.
Is she sure she can't qualify for a home loan with it on her credit report? A $0 collection may affect her credit scores, but shouldn't stop her from getting a loan.
You may want to tell her to talk with the loan professionals at ArcLoan.com to find out what kind of loan she can get, and to ask their advice about the collection account. (Disputing a collection account while you are in the process of getting a loan can create additional headaches.)
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