credit repair

[SirHitmanG]

anyone know how to fix your credit or a company who does it?

im trying to fix my credit so i can try to buy a house this coming new year

anyone got any info?

[BIG.C]

yeah by a bike first and build your credit with that...lol..

[CORONA]

LOL, in order to improve your credit score, you should 1st get you credit report, and find out what collections if any you have.  Dispute them which forces the collecter to verify your debt, if they cannot, the credit agency will most likely remove it from your credit report, thus increasing your credit score.  Also, it is helpful to have low utilization of your credit available, meaning, if you have a $5,000 credit limit, you should only use 10 percent of that, which would be $500. Having too much debt is bad for your credit score.Also, do not close credit card accounts, that usually a mistake most people do.  I would stay away from companies that claim to fix your credit score, you can do it yourself. I have more ideas if you want to know more.

[ice]

do like Nick said.....order your credit report and then write the Credit agencies with the accounts you think are wrong. The credit agency has 30 days from the time they get the letter to look into and report back to you. If in those 30 days they dont heard from the Credit Card company the Credit Agency has to by law remove the negetative points from your credit



here is an example of the letter

Your Name
123 Your Street Address
Your City, ST 01234

The Credit Bureau
Bureau Address
Anytown, State 56789


Date

Dear Credit Bureau,

This letter is a formal complaint that you are reporting inaccurate credit information.

I am very distressed that you have included the below information in my credit profile due to its damaging effects on my good credit standing. As you are no doubt aware, credit reporting laws ensure that bureaus report only accurate credit information. No doubt the inclusion of this inaccurate information is a mistake on either your or the reporting creditor's part. Because of the mistakes on my credit report, I have been wrongfully denied credit recently for a <insert credit type for which you were denied here>, which was highly embarrassing and has negatively impacted my lifestyle.

optional With the proof I'm attaching to this letter, I'm sure you'll agree it needs to be removed ASAP.

The following information therefore needs to be verified and deleted from the report as soon as possible:

CREDITOR AGENCY, acct. 123-34567-ABC
Please delete the above information as quickly as possible.

Sincerely,


your signature


Your Name
SSN# 123-45-6789
Attachment included.

Don't forget to provide proof if you have it!

Keep a copy for your files and send the letter registered mail.

[SirHitmanG]

i got my credit report and all of my collections are paid off except for a student loan.
im still paying on that.

so if my collections are paid off do i still dispute them?

[ice]

i got my credit report and all of my collections are paid off except for a student loan.
im still paying on that.

so if my collections are paid off do i still dispute them?

leave them alone if they are paid off and in good standings.....and what I mean by that is never late or very few lates....

if you were late past 30-45 days it will show and I would try to have them removed stating that you were never late and this is the creditors fault and they need to show proof...even if you were late most creditors wont deal with the paperwork

[SirHitmanG]

everything i closed was sent to collections
so it was past 60days

[ice]

you can try the letters but to remove collections it a bit harder since they are legally recorded because the company has to take a lost for your debt and claim it on their insurance. THey then sell your bad account to a collector who tries to get the money from you.

[CORONA]

If you still owe money, you need to pay it back. Ice is right, your debt was most likely sold to collectors, probably 5 cents on the dollar.... so contacting the company that you didnt pay back most likely will not help, especially if its an old account. If you still have collections showing on your credit report, 1st dispute them through the credit agencies, Experian, Trans Union, etc... if they come back as valid, then contact the collector and let them know you wish to settle your debt.  Tell them if you pay them 50 cents on the dollar, will they remove or make the collection's status as paid. Make sure you have it in writing BEFORE you pay them anything. If the collection is close to 7 years old, I would just wait it out and not pay it..... since it will be close to falling off your credit report because they only stay on your credit report for 7 years..  as far as buying a house, good luck. 

[SirHitmanG]

If you still owe money, you need to pay it back. Ice is right, your debt was most likely sold to collectors, probably 5 cents on the dollar.... so contacting the company that you didnt pay back most likely will not help, especially if its an old account. If you still have collections showing on your credit report, 1st dispute them through the credit agencies, Experian, Trans Union, etc... if they come back as valid, then contact the collector and let them know you wish to settle your debt.  Tell them if you pay them 50 cents on the dollar, will they remove or make the collection's status as paid. Make sure you have it in writing BEFORE you pay them anything. If the collection is close to 7 years old, I would just wait it out and not pay it..... since it will be close to falling off your credit report because they only stay on your credit report for 7 years..  as far as buying a house, good luck. 

yes all of my debt was sold to collectors.
i paid all of the collection agencies and dont have anything to pay anymore
all i want to do is remove  the negative shit if possible

[CORONA]

Then dispute all the collections on your credit report through the credit agencies.... they will contact the collectors to see if the debt is valid, but since you paid them off, hopefully it will be removed.  Also, if you have other debt, ie. credit cards, make sure you only use 10% or less of your available credit... also, DO NOT CLOSE other credit cards... if you do, your available credit will be lower, thus lowering your credit score.

[ice]

now is the time to buy a house...but you will need a 650 or higher credit score and 20% down

Banks are tight with their loans and aren't going to give away money like there were a fw years ago....

also....dont get into a Interest Only loan...basically your renting the house and after 2 years will need to refi your loan. Once you refi your $1500 monthly payment went up to $3000....

This is how alot of people got into houses the last few years and part of the reason why the economy sucks right now....

[SirHitmanG]

yea im disputing them now.

i keep hearing now is the time to buy

what other type of loan is there?

[CORONA]

ICE, can you please tell me why now is the time to buy?

[Chingon]

Oh no Ice...you have Nick wondering....will we see a 1000 word essay from Nick or will this be a quick straight to the point response...till next post..same website, same topic..lol