If any one has bad credit I have found a company that will reomve ALL negative and raise your score to about 700. Maybe this will help your investment endeavors.
Please, Please, Please. Do not give a credit repair agency your buisness about 99.5% of them are scams and will take your money and do absolutely no work. I was a credit repair specialist for about 10 years. Do not pay anyone that says it will get your score up to 700 There is no such thing it is impossible for them to make that claim. Also you can repair your credit rather easily or at least boost your score a little. First things first order a copy of your credit report from all 3 credit reporting agencies Transunion, Equifax, and Experian. Then start disputeing the items that are derog. You are allowed by law to dispute anything that you feel is unverifyable. ANy questions please feel free to contact me at rowland333@hotmail.com
I would have to agree with the previous poster. DONOT pay anyone to repair your credit for you!!
You can fix your own credit score with some time and effort. It will cost you very little.
I never really cared about my credit score my whole life until two months ago. I requested my score and credit report from experian and was shocked at how bad things were.
Then I did some research on this and other websites about credit repair.
I took some preliminary steps and changed my score from a 520 at the start to a 694 in two months. I did not pay anyone and I did not dispute everything. I simply had the wrong information removed using the on-line dispute process and then made sure that my "good" stuff was reported too.
I also learned some very valuable information along the way about loans, credit and financing that I would not have learned had I let some else fix my credit.
It was not a "fun" process, but niether was it torture. Face reality and make some choices - you control your future.
How did you get them to post the good stuff on your credit report? I have taken a few loans and repayed them to boost my score, but it only shows on Experian and not the others. So basically, I have a higher score with them. How can I get the others to include these loans.
My friend has payed off all negative things against his credit. Its been over 7 years yet when he contacted them they would not remove it. I thought they have to remove negative information after 7 years?
From what I was told by the Credit Manager here I gathered this.
There are the three main credit reporting companies. Transunion, Equifax, and Experian. Each one basically reports from their "Turf" one is based in the north west. one in the North East, and one from the South. Something along those lines.
Each one reports from the acounts in those areas. If you have a student loan from California and Equifax is in charge of that area then it will show on theirs, but not definitally on Transunion. That's why when you go to a car dealer you get 3 credit reports.
Have your friend dispute with the Creidt Bureaus themselves, they will take it off.
CAI
10th June, 2003
Quote:
On 2003-06-03 15:02, nchachula wrote:
My friend has payed off all negative things against his credit. Its been over 7 years yet when he contacted them they would not remove it. I thought they have to remove negative information after 7 years?
Ok here we go: The credit reporting agencies must remove any negative listing after 7 years. If they dont they are in violation of the FCRA. "Fair Credit Reporting Act" He needs to dispute the negative info with the credit reporting agencies stateing that if it is not removed there will be a law suit. By them reporting the neg items over 7 years they can be sued for $1000.00 per listing. They know this. If what you are telling me is the whole story its that simple to get it removed. Any questions please e-mail me at **Please See My Profile**
You can fix your credit yourself. There is a ton of info on the net that you can find.
Here are just 2 of many articles on this site pertaining to credit.
Article 1
Article 2
Bear this in mind. While there are 3 Credit Reporting Agency's you must clear your credit on all 3 as they act somewhat independantly of each other. There is Experian, Equifax, and Transunion.
I first started attempting to clear my credit by visiting the Credit Expert web site. You have the ability to check your report from Experian as well as file Investigations into information posted on your report. However this being said I would not recomend this site as it is free for 30 days, and after $80 for a year. To file a Investigation online takes at least 30 days to complete. Then you have Equifax and Transunion to deal with.
While clearing your credit (Or attempting I should say) make sure not to "Flag" your account by trying to clear too much at once. First try to clear off debt that you believe you do not owe or that is a mistake. Second go for the days late. If you do have payments over 30, 60, or 90 days late report those for Investigation and use the words "According to my records I was never x ammount of days late on such and such acount".
Also pay your charge off's if you have any. Find the creditor's info and call them up. Offer 45% of the origonal debt as payment. However this must be paid in cash not instalments usually. Employee's of the Credit Collection agency make a percentage on what they settle typically. So if you owe $10,000 and you offer them $4,500 yes they will try to milk you for more, but they will most likely settle for less because that would be $$$ in their pocket.
I hope this helps.
I'm still searching for the answer as to how many points in average paying a charge off will fix.
If I was inacurate on any of my info please feel free to correct me.
Good luck,
CaChinGuy[ Edited by CaChinGuy on Date 06/12/2003 ]
I'm far from a expert so bear with me as I tell you what I do know.
When you file a Investigation on something on your credit the process goes something like this.
1. The Credit agency contacts the creditor and asks questions about the account in question. Typically they fax over info. The Creditor has 30 days to get a response back to the Credit Agency regarding the Investigation. They must have records of that account as proof to back up their claim that you were late with payment, you didn't pay, you had a charge off etc. If they fail to produce the info after 30 days either because they don't have it, or they are lazy it is automatically droped from your report.
It all depends on who at the creditors location gets your info. Remember that now they are doing a task of which they are making NOTHING on. WHat I mean to say is that they are performing a duty looking up history on something that will not benifit them in the least. So if they are lazy, or have something else to do then they will simply neglect it.
If they do report back in time with the necessary info they you are back where you started. Nothing lost except time and knowing you tried.
But to basically answer your question Yes. It does take 30 days. If you had 10 things to dispute (I hope you don't have that many) I would file a Investigation on a couple a month till they are all cleared up. This will take time odviously. I'm in the same boat so don't feel bad.
If my credit card company has charged off my account AND sold it to a collection agency and I settle it, will the credit card company information continue to show "charged off to bad debt" on my report or will they change it to read "settled"? I am asking this, because in my mind, the account is no longer owned by the credit card company but the collection agency. Will I now have two entries from both parties on my report? One saying "charged off" and another saying "settled"?
If you pay a charge off it will read on your Credit report "Charge Off/Paid". It just states that yes it was a charge off, and you paid after it was sent to collections. Still looks bad to another lending company but that is about the best you can do over disputing it.
Better to pay it off now and get it off your report in 7 years then to have your debt sold and resold to other collection companies and start the whole 7 years over every time it's sold. Not to mention it does help your credit score. How many points I do not know, but it does help.
From,
CaChinGuy
13th June, 2003
Ok guys there again is a misconception they cannot re-age your account. Lets say you have a credit card with a $1000 balance. You lose your job, refuse to pay, or whatever. Next step is they sell it to a collection agency a year later. the collection agency trys to collect a debt, they report it to the credit agencies, and now you have a bad listing. If you still dont pay eventually the agency sells it to another agency and the process continues. Heres the thing if you never pay in 7 years all bad listing for the account will drop off your credit report. They cannot and do not re-age the account for every agency the purchases it.
This is not a opinion it is fact. This is by law in the Fair credit reporting act.
Any questions please contact me at **Please See My Profile**
while it is true that you can do the work of credit repair yourself there are some companies that do what they say. not cool to make blanket statements about peoples integrity...kind of like what people unfamiliar with creative finance saying that real estate investors are all shysters, right?
Now I know that there will only be one item on my credit report. Not two.
16th June, 2003
Quote:
On 2003-06-12 21:28, BusinessWoman wrote:
Hi, I'm new and I already have a question! <IMG SRC="images/forum/smilies/icon_razz.gif">
If my credit card company has charged off my account AND sold it to a collection agency and I settle it, will the credit card company information continue to show "charged off to bad debt" on my report or will they change it to read "settled"? I am asking this, because in my mind, the account is no longer owned by the credit card company but the collection agency. Will I now have two entries from both parties on my report? One saying "charged off" and another saying "settled"?
Hope my question makes sense.
First thing is that dont pay the collection without getting a statement in writing first. You want to tell the collection agency that you will pay the outstanding debt in full only if they will remove the negative listing completely. They may trll you they cant but it is quite easy for them to do it. Send me a e-mail at **Please See My Profile** if you need a template or have any other questions.
Hey Russ,
Everybody can do this themselves. See Article #1
http://www.thecreativeinvestor.com/Article1.html
Hey Russ,
could u tell me the name of that company
Can you please send me the information regarding the credit and how much it cost.
Thanks
Jacci
jaccib01@hotmail.com
Can you e-mail me the info. for the company that helped you "clean up" your credit?
Thanks so much!
ashmburch@yahoo.com
Please, Please, Please. Do not give a credit repair agency your buisness about 99.5% of them are scams and will take your money and do absolutely no work. I was a credit repair specialist for about 10 years. Do not pay anyone that says it will get your score up to 700 There is no such thing it is impossible for them to make that claim. Also you can repair your credit rather easily or at least boost your score a little. First things first order a copy of your credit report from all 3 credit reporting agencies Transunion, Equifax, and Experian. Then start disputeing the items that are derog. You are allowed by law to dispute anything that you feel is unverifyable. ANy questions please feel free to contact me at rowland333@hotmail.com
I would have to agree with the previous poster. DONOT pay anyone to repair your credit for you!!
You can fix your own credit score with some time and effort. It will cost you very little.
I never really cared about my credit score my whole life until two months ago. I requested my score and credit report from experian and was shocked at how bad things were.
Then I did some research on this and other websites about credit repair.
I took some preliminary steps and changed my score from a 520 at the start to a 694 in two months. I did not pay anyone and I did not dispute everything. I simply had the wrong information removed using the on-line dispute process and then made sure that my "good" stuff was reported too.
I also learned some very valuable information along the way about loans, credit and financing that I would not have learned had I let some else fix my credit.
It was not a "fun" process, but niether was it torture. Face reality and make some choices - you control your future.
stormblade:
How did you get them to post the good stuff on your credit report? I have taken a few loans and repayed them to boost my score, but it only shows on Experian and not the others. So basically, I have a higher score with them. How can I get the others to include these loans.
My friend has payed off all negative things against his credit. Its been over 7 years yet when he contacted them they would not remove it. I thought they have to remove negative information after 7 years?
dechell
From what I was told by the Credit Manager here I gathered this.
There are the three main credit reporting companies. Transunion, Equifax, and Experian. Each one basically reports from their "Turf" one is based in the north west. one in the North East, and one from the South. Something along those lines.
Each one reports from the acounts in those areas. If you have a student loan from California and Equifax is in charge of that area then it will show on theirs, but not definitally on Transunion. That's why when you go to a car dealer you get 3 credit reports.
I could be wrong, but this is what I was told.
From,
CaChinGuy
nchachula,
Have your friend dispute with the Creidt Bureaus themselves, they will take it off.
CAI
Quote:
On 2003-06-03 15:02, nchachula wrote:
My friend has payed off all negative things against his credit. Its been over 7 years yet when he contacted them they would not remove it. I thought they have to remove negative information after 7 years?
Ok here we go: The credit reporting agencies must remove any negative listing after 7 years. If they dont they are in violation of the FCRA. "Fair Credit Reporting Act" He needs to dispute the negative info with the credit reporting agencies stateing that if it is not removed there will be a law suit. By them reporting the neg items over 7 years they can be sued for $1000.00 per listing. They know this. If what you are telling me is the whole story its that simple to get it removed. Any questions please e-mail me at **Please See My Profile**
RussRealEstate:
Where did you go to get your credit repaired? There has to be some legitimate credit pro's out there.
sounds too good to be true, my credit is ok but it could be better....
Thanks alot
You can fix your credit yourself. There is a ton of info on the net that you can find.
Here are just 2 of many articles on this site pertaining to credit.
Article 1
Article 2
Bear this in mind. While there are 3 Credit Reporting Agency's you must clear your credit on all 3 as they act somewhat independantly of each other. There is Experian, Equifax, and Transunion.
I first started attempting to clear my credit by visiting the Credit Expert web site. You have the ability to check your report from Experian as well as file Investigations into information posted on your report. However this being said I would not recomend this site as it is free for 30 days, and after $80 for a year. To file a Investigation online takes at least 30 days to complete. Then you have Equifax and Transunion to deal with.
While clearing your credit (Or attempting I should say) make sure not to "Flag" your account by trying to clear too much at once. First try to clear off debt that you believe you do not owe or that is a mistake. Second go for the days late. If you do have payments over 30, 60, or 90 days late report those for Investigation and use the words "According to my records I was never x ammount of days late on such and such acount".
Also pay your charge off's if you have any. Find the creditor's info and call them up. Offer 45% of the origonal debt as payment. However this must be paid in cash not instalments usually. Employee's of the Credit Collection agency make a percentage on what they settle typically. So if you owe $10,000 and you offer them $4,500 yes they will try to milk you for more, but they will most likely settle for less because that would be $$$ in their pocket.
I hope this helps.
I'm still searching for the answer as to how many points in average paying a charge off will fix.
If I was inacurate on any of my info please feel free to correct me.
Good luck,
CaChinGuy[ Edited by CaChinGuy on Date 06/12/2003 ]
Thanks, CaChinGuy...
I really apppriciate your info, quick question... Does it always take so long to dispute or fix credit online?
Thanks again
I'm far from a expert so bear with me as I tell you what I do know.
When you file a Investigation on something on your credit the process goes something like this.
1. The Credit agency contacts the creditor and asks questions about the account in question. Typically they fax over info. The Creditor has 30 days to get a response back to the Credit Agency regarding the Investigation. They must have records of that account as proof to back up their claim that you were late with payment, you didn't pay, you had a charge off etc. If they fail to produce the info after 30 days either because they don't have it, or they are lazy it is automatically droped from your report.
It all depends on who at the creditors location gets your info. Remember that now they are doing a task of which they are making NOTHING on. WHat I mean to say is that they are performing a duty looking up history on something that will not benifit them in the least. So if they are lazy, or have something else to do then they will simply neglect it.
If they do report back in time with the necessary info they you are back where you started. Nothing lost except time and knowing you tried.
But to basically answer your question Yes. It does take 30 days. If you had 10 things to dispute (I hope you don't have that many) I would file a Investigation on a couple a month till they are all cleared up. This will take time odviously. I'm in the same boat so don't feel bad.
Keep me posted on what your progress is.
From,
CaChinGuy
Hi, I'm new and I already have a question!
If my credit card company has charged off my account AND sold it to a collection agency and I settle it, will the credit card company information continue to show "charged off to bad debt" on my report or will they change it to read "settled"? I am asking this, because in my mind, the account is no longer owned by the credit card company but the collection agency. Will I now have two entries from both parties on my report? One saying "charged off" and another saying "settled"?
Hope my question makes sense.
Hey Russ,
Can you send me the name of the company that you used to get all your negative information removed from your credit report.
Thanks
**Please See My Profile**
BusinessWoman,
If you pay a charge off it will read on your Credit report "Charge Off/Paid". It just states that yes it was a charge off, and you paid after it was sent to collections. Still looks bad to another lending company but that is about the best you can do over disputing it.
Better to pay it off now and get it off your report in 7 years then to have your debt sold and resold to other collection companies and start the whole 7 years over every time it's sold. Not to mention it does help your credit score. How many points I do not know, but it does help.
From,
CaChinGuy
Ok guys there again is a misconception they cannot re-age your account. Lets say you have a credit card with a $1000 balance. You lose your job, refuse to pay, or whatever. Next step is they sell it to a collection agency a year later. the collection agency trys to collect a debt, they report it to the credit agencies, and now you have a bad listing. If you still dont pay eventually the agency sells it to another agency and the process continues. Heres the thing if you never pay in 7 years all bad listing for the account will drop off your credit report. They cannot and do not re-age the account for every agency the purchases it.
This is not a opinion it is fact. This is by law in the Fair credit reporting act.
Any questions please contact me at **Please See My Profile**
Greetings
Russ please send me the info you have.
while it is true that you can do the work of credit repair yourself there are some companies that do what they say. not cool to make blanket statements about peoples integrity...kind of like what people unfamiliar with creative finance saying that real estate investors are all shysters, right?
[addsig]
Thank you, CaChinGuy for the response.
Now I know that there will only be one item on my credit report. Not two.
Quote:
On 2003-06-12 21:28, BusinessWoman wrote:
Hi, I'm new and I already have a question! <IMG SRC="images/forum/smilies/icon_razz.gif">
If my credit card company has charged off my account AND sold it to a collection agency and I settle it, will the credit card company information continue to show "charged off to bad debt" on my report or will they change it to read "settled"? I am asking this, because in my mind, the account is no longer owned by the credit card company but the collection agency. Will I now have two entries from both parties on my report? One saying "charged off" and another saying "settled"?
Hope my question makes sense.
First thing is that dont pay the collection without getting a statement in writing first. You want to tell the collection agency that you will pay the outstanding debt in full only if they will remove the negative listing completely. They may trll you they cant but it is quite easy for them to do it. Send me a e-mail at **Please See My Profile** if you need a template or have any other questions.