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Got Bad Credit?? Need It Fixed??


 


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 2 years ago '10        #576
suddath 1 heat pts
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 Monroe200 said
I got mad debt, I got like 1050 in credit card debt and about 8000 in installment loans. I am trying decide which one I should go harder on the loans or cc debt.
What kind of loans? Medical and student loans tend to carry less weight on a credit score than credit card debt. Without knowing much, i'd go towards the CC debt first, especially since the interest rate is likely higher than your installment loans.

 2 years ago '10        #577
suddath 1 heat pts
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 sinistababy said
I have a debt for a repo back in 2010. I live in TN. I disputed the negative saying that the account was closed, but after the 30 days, it still remains although it says the debt has been charged off and the account is closed. What should I be using as the dispute reason? It's also saying that it could possibly be removed by October of this year, but if the original date of the debt was in 2008, shouldn't it have been gone anyway?
The date you use is the last reported date according to the credit report, 7 years from when it shows charged off. It's probably coming off in October.

 2 years ago '10        #578
suddath 1 heat pts
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 Kliq said
guys i have a question

i have an open charge for like $97 - been there since 2015, still says openeed. Its a comcast bill i forgot to pay

should I just pay that sh*t? I talked to the creditor on the phone (it was transferred to a 3rd party collector) and they said they would mark it as "Closed - paid in full" but they refused to Pay to Delete.

should i just pay it and how much will it benefit me?

also, anyone know of any services where I can get some consulting on how to fix my credit score? my sh*t is beyond fu*ked up and i want to bring it back up

thanks
It's not going to do much for you if it's already in collections. It might do a little something, but don't expect any miracles. I would offer them 25-50% of the $97 to settle it paid in full. They will always settle for less, but like I said, it's not going to do much. For a small amount like that though, I would go ahead and settle it up.

 2 years ago '16        #579
Boogie1790 9 heat pts
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 DYMEPIMPIN said
The easiest way is to apply for some credit card ..

And ONLY purchase smaller items that you can pay off every month..

My credit has skyrocketed the past year because I use that CC for anything and everything and pay it on time ..

Its easy and its good for credit
I was tryna do this too but my bank be with the bullsh*t so i missed 2 payments mysteriously making my payments late.

 2 years ago '10        #580
suddath 1 heat pts
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Also, i'm not a credit "expert" by any means. I ran my sh*t into the GROUND from college to about a year ago and have been doing a ton of research and making the right moves.

For those of you that I quoted and responded to, those are what I would do personally after knowing what I know.

I had several delinquent cards and misc utility/medical bills in collections.

First thing I did on my credit journey was go and challenge EVERYTHING, even the stuff I knew was valid. Didn't put any reason in the comments. Had a valid medical bill come off, and one from ATT got thrown out as well. Like I said, these were valid debts, but the creditors didn't dispute properly or in time, and they disappeared.

Next thing I did was get a secured credit card. I went through Open Sky, I put a deposit of $200, and got a $200 credit limit. I put my first tank of gas of the month on the card and pay it off in full immediately when I get back in the car.

Through this stuff, Since November of last year I went from a 421 (see? you thought yours was bad? to a 587 currently. Got an old power bill that is still with the power company (NOT A COLLECTION AGENCY), which is good because I can pay that and have it deleted, and then an old settled collection account coming off this month. Goal is 650 by the end of this year.

Good luck guys, and i'll help where I can from what I know!
+1   

 2 years ago '04        #581
Kliq 358 heat pts358
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 suddath said
Also, i'm not a credit "expert" by any means. I ran my sh*t into the GROUND from college to about a year ago and have been doing a ton of research and making the right moves.

For those of you that I quoted and responded to, those are what I would do personally after knowing what I know.

I had several delinquent cards and misc utility/medical bills in collections.

First thing I did on my credit journey was go and challenge EVERYTHING, even the stuff I knew was valid. Didn't put any reason in the comments. Had a valid medical bill come off, and one from ATT got thrown out as well. Like I said, these were valid debts, but the creditors didn't dispute properly or in time, and they disappeared.

Next thing I did was get a secured credit card. I went through Open Sky, I put a deposit of $200, and got a $200 credit limit. I put my first tank of gas of the month on the card and pay it off in full immediately when I get back in the car.

Through this stuff, Since November of last year I went from a 421 (see? you thought yours was bad? to a 587 currently. Got an old power bill that is still with the power company (NOT A COLLECTION AGENCY), which is good because I can pay that and have it deleted, and then an old settled collection account coming off this month. Goal is 650 by the end of this year.

Good luck guys, and i'll help where I can from what I know!
thx for the tips

i got denied a secured credit card from PNC a few months back, sh*t was hella embarassing no lie

ill look into open sky though

 2 years ago '10        #582
suddath 1 heat pts
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 Kliq said
thx for the tips

i got denied a secured credit card from PNC a few months back, sh*t was hella embarassing no lie

ill look into open sky though
Yeah don't feel bad, I got denied for a secured as well. You're taking the steps to get it back on track, that's what matters. Open Sky won't deny you for any reason as far as I know, just have to pay the $200 up front and takes about a week to get your card. Good luck!

 2 years ago '12        #583
Di Warlord 9 heat pts
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 suddath said
It does very little good to pay something off once it's in collections. The only time it's worth it to pay something off if it's with the original creditor. It will show Closed- Paid in Full, for 7 years from the date you paid it off.

Just have to wait..
yeah they sent the thing to some collection agency and they started bugging me all the time. Payed it off in one payment once I got a new job because they were gonna do a background check. It was my first real job ever so I didn't know any better

 2 years ago '10        #584
suddath 1 heat pts
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 Di Warlord said
yeah they sent the thing to some collection agency and they started bugging me all the time. Payed it off in one payment once I got a new job because they were gonna do a background check. It was my first real job ever so I didn't know any better
lol yeah at least you know better now. Anytime I hear that "this call may be monitored for quality a*surance, can we speak to ___?"

"Oh this is his roommate, he left his phone here. Can i take a message?"

"No thank you we'll try back later"

Added to call blocker. Don't hear from many anymore.

 2 years ago '04        #585
sinistababy 
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 suddath said
The date you use is the last reported date according to the credit report, 7 years from when it shows charged off. It's probably coming off in October.
Thanks. I'll have to wait it out.

 2 years ago '07        #586
Monroe200 
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I'm just attack the credit card debt first with the avalanche method
+1   

 2 years ago '16        #587
Peedi 
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My credit is like in the 530s want to pay off all my debts on my report in full I have the money it's only like 1g all together but you guys are saying I shouldn't? It will still pop up as a negative on my credit? Neep help

 2 years ago '13        #588
illmatic6596 
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 Peedi said
My credit is like in the 530s want to pay off all my debts on my report in full I have the money it's only like 1g all together but you guys are saying I shouldn't? It will still pop up as a negative on my credit? Neep help
Am in a similar situation , apparently it depends on how long the collection has been on you credit and the amount . If it's like you say 1g , you have to make arrangement with the creditor to get it off your records , have them give you some kind of notice or proof that they will in fact take it off your credit once you pay for it . Also you don't want to contact the creditor directly , search for the HIPAA LETTER PROGRAM GUIDE on google , and that should give you direction on how to take care of all your debts.

 2 years ago '16        #589
Peedi 
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It's different sh*t but all together adds up to 1g like a 100 med bill a 400 Kohls card and couple other little sh*t

 2 years ago '10        #590
suddath 1 heat pts
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 Peedi said
My credit is like in the 530s want to pay off all my debts on my report in full I have the money it's only like 1g all together but you guys are saying I shouldn't? It will still pop up as a negative on my credit? Neep help

Before you pay it off, are these debts in collections, or are some still with the original creditor? Do you know when they are supposed to come off your report? If you can give some more info I can at least give you an idea of what I would do...

 2 years ago '10        #591
suddath 1 heat pts
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 illmatic6596 said
Am in a similar situation , apparently it depends on how long the collection has been on you credit and the amount . If it's like you say 1g , you have to make arrangement with the creditor to get it off your records , have them give you some kind of notice or proof that they will in fact take it off your credit once you pay for it . Also you don't want to contact the creditor directly , search for the HIPAA LETTER PROGRAM GUIDE on google , and that should give you direction on how to take care of all your debts.
You're close. The amount doesn't matter. A $1 delinquent debt won't hurt you any more than a $1,000 debt in terms of your credit score. It's just the fact that it's delinquent.

It is OK to contact the creditor directly, just don't acknowledge the debt is valid unless you already know it is and just want to pay it off. Acknowledging the debt is valid can allow them to restart the 7 year window. Most original creditors will not have an issue removing it when paid. In fact they usually just do it, but you are 100% correct that you want to get an agreement in writing before you pay it.

If it's in collections, chances are very slim they will agree to a pay for delete, but you can always try. Again, don't acknowledge that the debt is correct, and DON'T pay the full amount. Write a letter basically stating that although you don't agree with the validity of the debt, you are willing to settle it for x $ (I would start at 25-50% max of what you owe). If they agree to pay for delete, I would consider settling it. If they don't offer pay for delete, I would just wait it out. If you don't get it deleted, it will just show "settled" for the reminder of the time on your report, and won't boost your score very much; nothing like having it deleted will do for you.

 2 years ago '16        #592
Peedi 
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 suddath said
Before you pay it off, are these debts in collections, or are some still with the original creditor? Do you know when they are supposed to come off your report? If you can give some more info I can at least give you an idea of what I would do...
yes they are in collections and been on for like 3 years

 2 years ago '10        #593
suddath 1 heat pts
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 Peedi said
yes they are in collections and been on for like 3 years
I would just wait then.

 2 years ago '16        #594
Peedi 
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Wait 4 more years?

 2 years ago '10        #595
suddath 1 heat pts
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 Peedi said
Wait 4 more years?
Yes, unfortunately. Once it's in collections, it's very unlikely you can have it removed from the credit bureaus. A "pay for delete" agreement is pretty rare these days. Any bill in collections that you pay will show as "settled, paid in full". It's better than not paying it, but it really won't do much for your credit score. Once it's been turned over from the original creditor to collections, the majority of the damage is done.

However, if you decide to pay them, negotiate a lower settlement amount, do NOT pay the full amount. Start with 25-50% of the debt. I would also go after non-medical or student loan debt first. Medical and student loan debt tend to carry less weight than other types of bill collections.

All of these accounts will hurt you less as time goes on, so patience, although difficult, is important. Before settling those accounts, I would challenge them through the credit bureaus. You may get lucky and have them removed. You could also use the money you were considering using to pay them off to open a few secured credit cards and use those responsibly, which I think would have more of a positive impact on your score in those 4 years than settling the debts. This is just what I would do. I encourage you to do your research and determine what is best for you. I have a credit card with $750 of debt that i defaulted on. I am not paying it off, and I still have 5 years left before it comes off. It's just not worth it once it's turned over to collections.

Best of luck!

 2 years ago '05        #596
Quddus 13 heat pts13
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[QUOTE=Peedi;43310708]Wait 4 more years?[/QUOTE

There are ways. One way is to pay it and then do a challenge against it.

 2 years ago '13        #597
mikejuheard 44 heat pts44
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How's Lexington Law???

 2 years ago '10        #598
acegutta22 206 heat pts206
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 Bukkake Bobby said
How does one go about disputing debts? I'm at 23k in debt I have a great job now where I'm making great money and would like to start working on fixing my credit
Dispute it on credit karma say it was fraud anything you have to

 2 years ago '08        #599
tdnupe3 17 heat pts17
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 mikejuheard said
How's Lexington Law???
The chick i'm using is blowing all those "firms" out the water.

 2 years ago '11        #600
mdonj1 
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 YaStreetz said

Will go out and check all of your creditors to validate slow pays lateness remove discrepancies and contest them
It costs 39.99 a month but can be stopped at anytime I have been doing it for 2 months gained 20 pts on my credit score
my girl using this now and her score is moving on up..

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