Idea: post (serious) advice for 18-21 yr olds here...

Call the companies, never just let them go....they may try to force you to pay, but overall it is better for them to know the situation then not too.

DaDakota

 

Another thing most older people don't even know is say you have 3 credit cards and you use one more than the other and you have a $20,000 limit on it and you always take it to say $17,000 but you always pay it off you actually lower your credit rating. See you don't want to have too much revolving credit. So you should have more than one card and use them equally and NEVER get anywhere near the max, try to keep both at the medium level. That will get you an 800+ rating everytime. Some people who should have an 800+ score get high 600's and low 700's just because of this. I am an auto dealer so I know this stuff.

Just as a side not I got a person aproved as a B (tier thats the second best tier of financing) who had, count'em, 6 repo's. Most unbeleivable day of my working career. Probably became his 7th for all I know but getting him aproved was like hitting the lotto and then getting B tier was like a miracle. The dude got a better rate than people who have perfect credit.