Cleaning your credit score
 

anybody know of any good places that will clean your credit and clean it quick... say by making deals with the collection accounts or what ever.. anyone have any experience with this?

Trust me man, none of the companies will do anything you can't do yourself. The absolute quickest you can get anything removed from your credit is 30 days, even if you make a deal with a collection agency to remove a negative mark. It takes at least 30 days for the report to update. How many items do you need removed?

LOL. Its 6 month periods agencies work with. You can make your own arrangements with many creditors. Always threaten "bankruptcy".

about 15 but it seems a bunch is listed twice like at one creditor and one at another... so is best to just call each one and "make a deal to pay off in full" for a certian amount? then what say I do em all that really don't give you a better credit score does it it will just take bad shit off so the good shit can acutually pmprove your score?


im confused about credit and all that shit.....

You have two options. You can dispute each negative item at all 3 credit bureaus, and if the creditor doesn't respond within 30 days they have to remove the item from your report. I noticed that this is easier to do with older items that have been on your report a few years. Remember, you do need to get a 3 bureau report and dispute each item with each bureau, although some items may show up on one report and not another.

The second option is to call each creditor and arrange a settlement. If it is an old debt you can often settle for a lot less than the original amount. You have to remember to get in writing that they will remove the negative item on payment, because if you don't then it will just show up as a paid collection, and that is still negative. Even if they don't remove the item afterwards the credit bureau will when you forward them a copy of the agreement.

If an item is listed on there more than once it is because it has probably been sold from one collection agency to another. They can only list it once, so if you call all 3 bureaus and dispute it they will take that off...

If you are just saying, "I am lazy, who can at least clean up bullshit?"

Ovation Law...

They cleaned up my bullshit for me... And a few that weren't bullshit, but who is complaining?

theres always what I call the "Knight Rider" solution...

change your name and become a man who doesnt exist.... a lone crusader in a dangerous world :1orglaugh

Or wake a sleeping giant and get sued:1orglaugh

Thats what I need to do! :disgust

If you are looking to raise your credit score, there is an interesting option. You can rent someone else's credit. I learned about this last year when a company contacted my wife and I asking us if we wanted to rent out our credit to other people.

Here is how it work...

You pay a fee, I can't remember what it was cuz we didn't rent ours out. I think it was something like $1000.

The people with great credit add you as a signer on one or two of their credit card accounts. You don't get a card, and you don't have access to any of the account information, including the account number.

After your credit score jumps to the point you want it to be and you are able to buy the house/car/whatever you were interested in buying, or after you get your own credit cards, you are removed as a signer from the other persons account.

It was actually pretty interesting and I believe it is 100% legal.

Although, it doesn't have anything to do with removing bad items. The only way to remove bad items is dispute them and hope they don't respond, which they almost always do. However, when disputing items, keep in mind that by disputing them, they will actually stay on your credit report LONGER if they are not removed.

Doesn't work like that anymore, they killed authorized users back in Septemer. now being an authorized user has 0 effect on your credit score/report.

Just read that. You are correct.

This is correct.

I just finished with all this bullshit over the past year. It ended up raising my CS 150 points.

It's a LONG, TEDIOUS process.

Those credit fix up companies are scams. If you do not believe it, check the FSC.gov website. They will confirm it for you.

You have to write to all three. Transunion, and Experian you can do online. It will take more than 30 days chief. So don't buy into anyone who tells you otherwise, especially with that many you need to address.

My advise is this, and it comes from experience. Dispute everything. Even your good debt. The reason is that while some do report monthly, others do not. So you get your 'default' ok/unknown. When you dispute even your good stuff.. credit cards, car payments, they actually confirm you are doing your payments. I did this, and had a 40+ point in credit score.

Also, even if you do it online, those that are more complicated will need a letter. You may get some off with a simple one liner that online disputes give you. Others will require a detailed explaination.

The other poster was correct. If you dispute something, and the company doesn't answer in 30 days, it's removed. But they do have the option to put it back on. So make sure you deal with it.

Lastly, any company you pay off for outstanding debts, make sure you have all your receipts, and once you make the payment. You need to send confirmation to all bureaus. A lot of these collection bureaus will not report you paid. They are about fucking up your credit, not fixing it.

Oh, one more thing. Make sure you have a copy of your credit report. You can get them from truecredit.com, myfico.com or directly from the credit bureaus. When doing your disputes, and sending your letters. Make sure that whatever you are complaining about shows on their report. If it doesn't. you will NOT want to report it.

Some companies only fuck up your shit on one, or two bureaus. You do not want to report more debt.

Good luck!

Just a reminder, if you work out a deal with a collection agency (they will usually work deals, some money is better than no money) Make sure you get it in writing,certified mail, that when the debt is paid, they will remove the collection from your credit record. Most collections agency could care about your credit, and fail to do to this last step...go figure (echoing the above post)

Marry some rich girl with good credit.

Just as an FYI.. no one touched on this.

When you settle a debt with an organization.. whatever debt is "written off" is considered a taxable asset against you.

Example... you owe AMEX 100,000. You settle with them for 40,000 (cool.. less money, right???).. You still are on the tax hook for the 60,000 that was written off by AMEX. The government considered that as taxable income to you.

Just thought you should know that part. And yes you will get a 1099 in the mail from AMEX or whomever at the end of the year for this situation. You can't avoid it.

wow, no kidding? you actually know for a fact that is what happens?

Your credit score is a reflection of who you are. I heard that many times when I was 18 and as I get older, it couldn't have been farther from the truth.

i started cleaning my credit 2+ years ago via lexington law, they did an *ok* job disputing everything, the credit bureaus will shut down all disputes when they think you have a law firm disputing and they will require you to jump through hoops every month sending them validating info or else all disputes on put on hold.

also, companies do put your disputed items BACK on your report if they do not reply in 30 days and an item is removed.

also, collection agencies will now be calling you for debts from years and years ago due to the credit bureaus giving them your current info.

but this only addresses the bad, there still is not enough good credit in cases like these so you still won't qualify for anything other than a credit card prolly.

but to answer your question- there is simply no way to fix credit quickly

oh and after the bureaus caught on to lexington handling my issues, i canceled with them and took matters into my own hands, disputing items myself with the big 3

yes that happend to me

Yes, that happens with all debt that is "forgiven".

Do as suggested with disputing with all three bureaus if the debt isn't yours. If it's a valid debt, just pay it.

I thought lex was the best for credit repair. So since they found out lex was handling your stuff they won't do anything?

in a roundabout way, they stall the dispute by replying stating that they are not sure you are you and then they require you to send in current copies of your driver's license, social security card and a 3rd reference such as a utility bill in your name at the addy on your DL before they will investigate.


it's a stall tactic, the bureaus do not want you to assume responsibility for your credit.

tht wud be nice to knw...

To answer your question..

Yea, there are a few links here credit repair

:)

let me be a little more clear....


im not looking to dispute anything... ill make a deal with each one to get everything paid off... and as far as cc cards there is only 1 small one that I will just pay off.... i just want to know the easiest way to go about it....


dispute nothing but make deals like say I owe 1000 i want to give them 100 and forget abot it and get that taken off...

not looking so much to have a better score just don't want all the negative.. which is 90% medical anyways.... and those who say medical does not go against you with loans... I just went through it and medical does hurt.. cause it hurts your score then you get nailed with the intrest... so basicly I just want to pay em all off and I guess "start fresh"

If you don't want what could be a long, drawn out process, then absolutely negotiate a settlement with each creditor. Creditors and collection agencies love to squeeze money from a debt they may have already written off, so especially if the bills are a few years old you can often settle for significantly less than the original amount. Just start low and see where it goes from there, but don't let them try and bully you. Be absolutely certain before you give them a penny that you get it in writing from them that they will entirely remove the negative item from your credit report, and not just mark it as a paid collection, because that isn't going to help your credit much. Chances are the collection agency won't even bother removing the item, but once you show the proof to the credit bureaus they will.

Yup D, perform settlement offers in writing with the agreement clearly stated. Otherwise yes the collection agencies will milk you for every penny they can plus interest, late fee's you name it. The kicker is ussually they are the 3rd of even 5th company to purchase your debt. Each paying less and less.

lexington law firm... they will harass the collection agencies asking for proof of the debt which most don't have and it will get removed. Used them a few years ago and they were great. Its like 79.00/mo until its clean. they cc you on everything.

Medical is fucking brutal...I got hit with a double whammy of a 40k tax bill and a 40k hospital bill one year...of course both wanted to be paid immediately lol...

Anyways, long story short I've had fun with credit shit in the past...here's what I know has worked for friends/family/associates...


1) send in a HAND WRITTEN letter at a specific time of the year (yes it's coming up soon)...they have xx days to respond with proof of items listed (between the 3 agencies) and what they can't prove has to be taking off...this is almost always an easy way to knock a few pieces of bad items off for the cost of a hand written letter + a stamp

2) whatever credit lines you have open, pay them down to 30% of max...and maintain at those levels...if the monthly payment is say 50 bucks each month...make TWO payments of 25 bucks each...this creates more 'positive' credit inquiries that help 'stuff' your other 'not so nice' credit inquiries...

3) hire lex to do the stuff that wasn't cleaned up with the above 2 processes


dass eeet...

if you want a copy of a hand written letter I know was sent in (just prior to the holidays - reasoning is that it's a slow time of the year and very UNlikely that they can respond in time on some of the items that they don't have proof for)...

just email me at mainstreamcash at gmail and I'll find a copy and send the text of it over...

Listing the same debt more than once on your report is ILLEGAL and you can sue for $1,000 for every time this happened under FACTA. File a complaint with the FTC about this and contact any of the many consumer credit law attorneys, they will usually file this type of suit for free (on contingency) if the company is still in business.

1. The first thing you need to do is order all of your credit reports. When you get them, look and see when the last time each debt was reported. This is not the date of collection, it should say reported or updated or something like that.

2. Stuff that is getting ready to fall off your report or that hasn't been reported to your report for years (i.e. it is reaching the 7 year point) should never be paid off. Just wait and let them fall off. It dosen't factor into your score that much and paying it wont help your score much, if at all.

3. Debts that are very recent (within the last 2 years) or are getting updated frequently or have been updated recently ARE dragging your score down. These are the ones to work on.

4. One of the biggest myths is that paying the debt means that once it is marked as paid it is no longer counted in your score. This is a big fat lie. Never pay debts that are in collections unless you are getting something out of the deal. Make sure you are not wasting your money (see below).

5. You don't want to pay debts and get nothing in return. Call the person or company you owe (NOT THE COLLECTION AGENCY) and tell them you are willing to pay the full amount immediately if they will send you a latter stating that if you agree to pay that amount, they will report the debt for deletion upon receipt of the payment. Then do it. Make sure that the letter they send you mentions deletion AND removal from your credit report. If it doesn't, call them back. These places sometimes use tricky wording that you cant later use to remove the debt if they don't do it on their own. I say to call your creditor directly because collection agency people hear this all the time and they always say no. Your creditor wants his money more than anything else, so he'll be inclined to say yes.

6. Part of your score is based on the amount of credit you have available to you vs. what you have used up. Credit cards are a big part of this. Experts say the ideal credit use ratio is 30% to 40%. If you are maxed out on all of your credit cards, that is not good. Pay them down but don't close the accounts (cause then they don't count for you, cause they are not in your available credit).

7. Get more credit cards with big limits and do not use them. If no one will give you credit due to the shape your credit is in, there are a couple of credit cards that will show up as normal credit cards (not secured) and help you in this regards, but you do have to put down a deposit equal to your credit limit, max of $5K each and you do earn interest on the deposit.

8. There are no quick fixes to debt problems. All of the people and companies out there that promote to the contrary are full of shit. Do not send them money or you become another sucker. There are smart ways to fix your credit. Negotiating for deletion (#5) is one of those.

I have two items on my report. I called one today, offered to pay right then with full removal from my report.

They told me they can't do this

Did you call the collection agency or the person you owe? And when they reply with that, I say "OK, thanks for your time, have fun trying to get your money".