Fix Credit Report – Repair Boost Score Ratings

Elaine K asked:


I’m trying to figure out how to fix my credit, it’s so confusing!

Anyway, I’m making a payment to a collection agency for a Discover card, each month. I have great payment standing with the agency. On my credit report, it reads collection/chargeoff. Does that mean the chargeoff will stay on the report after I finish paying it off? If so, it really isn’t helping my credit is it? What can I do so when I pay it off it will affect my credit in the best way it can? Write a pay to delete letter? Will that work since I’m already making payments?

I’m so confused!
What would happen if I’d stop paying the collection agency, and focus on debts that aren’t charged off? If it is going to hurt my credit anyway, what is the harm?

Rebecca

trharvey36 asked:


I have printed my credit reports from the 3 credit agencies. There are many old medical bills showing on it. They range from $13 – $350. They are all from the same collection agency as they are all from the same creditor. After reading about debt validation – I am confused. #1 – Should I send a debt validation letter for each of these accounts, even though they were placed on my credit report in 2007? #2 – Should I do a pay and delete for the accounts under $100? #3 – What will it look like on my credit if I dispute the accounts with the credit reporting agencies and they do turn out to be valid? Will that look like I am trying to fraudulently dispute something? #4 – On my Experian report my name is misspelled 3 times, has the wrong middle initial 1 time, has my daughter’s Social Security number under “social security number variations” (she is 12 yrs old), and has 5 addresses that I never lived at – should I send a letter to Experian to correct these? I know these are some very detailed questions and that everyone’s situation is different. I live in Texas. Any help and clarification would be greatly appreciated.

Leon

Jose V asked:


I still can’t open a bank account because Chexsystems says my social security number owes wells fargo under a different name. When I got their report it was blank but on the first page it says that they were working on the account that didnt match up with my name. How long does it take to get it fixed?

Tom

Michel asked:


I got my credit report last week and saw a derogatory information from DTE. I owe them $6.00 since 09/2006. This was when I sold my house in MI. DTE never sent me any bill to my new address in MI (they have in file) or call me (internet home phone and cell phone never changed within 2 years). Today I called DTE and paid the balance. They say they will remove derogatory information but can’t give me any proof in written. When I called 2nd time, different lady say DTE sent something to 3 credit bureaus that the amount was paid.

Different people gave me different answer!

What can be done to fix my credit score since it is DTE’s fault not sending me bill? Shall I explain the situation to 3 credit bureaus and dispute the problem?

Kimberly

klm12780@verizon.net asked:


For a long time, I’ve always gotten credit card applications and that sort of stuff mailed to me with an O. for my middle initial. My middle name begins with an L. Whenever i do a credit check, it comes up with the O and not the L and gives me a former address which I’ve never lived at. Nothing is wrong with my actual credit, as on the report. All the loans, credit cards, debts, etc are correct so it isn’t messing with my credit but obviously something somewhere got screwed up. Does anyone know I would go abotu fixing this in case things get messed up in the future?
I know i just spelled incorrect wrong. I just don’t know how to go back and fix it! lol

Steve

Tony Banks asked:




Boosting your credit score by 50 points or more is doable once you understand the factors that go into calculating your credit scores. The approach you take also depends on the current state of your credit report and scores. In this article I am going to go over a few different scenarios to raising your score to get approved for home and auto loans.

The approach you will take to raise your credit score if your current score is 620 or above will be very different compared to having a score of less than 620. Raising a score that is currently above 620 will mean that you have to focus on reducing current balances on credit accounts you have now as well as possibly opening a new credit account to increase your available credit.

You simply want to show that you have more credit while not necessarily using it. A credit report with a score above 620 usually means there are no recent derogatory items such as late payments, collection accounts or charge-offs which you want to avoid at all cost.

On the other hand if your score is below 620, you want to check your report for recent derogatory items such as late-payments, charge-offs, and other negative items. Thousands of people have had success deleting these items from their reports by sending challenge letters to the credit bureaus. Deleting any of these items could add points to your current score.

I would also suggest re-establishing a new credit history by obtaining credit cards specially designed to restore your credit rating and boost your scores.

Kathryn

Ron Barrett asked:




Even though the method that each credit reporting agency uses to calculate your credit score is different, the way you approach improving your report will be somewhat the same. It’s the urgency in which you do this that will determine how fast you can raise your credit score.

Once you receive your credit report and know the areas that are affecting your credit score the most you can create a plan of attack to clean these areas up and get the best results possible in the least amount of time.

Using this method to repair your credit report and improve your credit score will make each resulting step easier to accomplish.

Once you have cleaned up your report and scores to the point that you are able to secure a small loan with a local bank and then making the payments on that loan, on time, you are creating positive history. It is that history that will give future lenders the confidence to trust you as a safe client.

This will allow you to get better interest rates. The lower rates result in lower payments which in turn ensures you can manage them and not miss any payments, thereby improving your credit score even more.

While you should start your credit rebuilding plan with this method, the momentum created with it is going to improve your score quickly. You also need to remember that there are several other areas on your credit reports that will affect your score and they all need to be addressed at some stage if you are to achieve the highest score possible.

Clarence

Asia’s mommy asked:


one says it’s a PAID collection account
the other says CHARGE OFF.

How can I fix this problem?

Charlotte

Niecey asked:


I am 22 years old. My mother opened two credit cards in my name when I was 18. I have already paid the balance on one of the cards. The other is still on my credit report with a $1300 balance. I have a medical bill on my report for over $6000 from when I had no medical insurance and I had a surgery. I also have over $38,000 in school loans from college that I have to start paying in January. I guess when I start paying them it will increase my credit history as long as I pay them on time. I can’t get any credit cards because of my terrible credit score (which is 568). I don’t have anything in my name that is helping me improve my credit history. I have an apartment and a few utility bills in my name but other than that, I have nothing. I desperately want to fix my credit. How can I do this? How long will it take for my credit score to improve? What steps do I take? PLEASE HELP!!!!!!

Thomas

puckdance35 asked:


I got a concussion playing hockey for my university in 2006. I was covered under 4 different health insurance companies. I was under my dad’s TriCare, my Mom’s Cigna, the University athletics, and USA Hockey. I used my dad’s TriCare and paid the $10 deductible but the radiological people screwed something up. I never once received a bill.

Then in 2009 I looked at my credit report and it had a bill in collections from the radiological people. Then I deployed to Iraq and haven’t been able to fix it. I just got back.

What should I do? I don’t want it on my credit report, and I don’t want to pay for something I should have never been charged. If I pay it will it fix my credit or will it stay on there?

Robin