Repairing Our credit

As you and your fianc?? are looking forward to buy a new home, you must stress on improving your credit scores. The lenders are keenly interested in reviewing the scores and based on it; they offer you the interest rates. A higher credit score will bag the best packages and a low credit scores will have high rates. You must consider reading this article and get some valuable tips on how to improve the credit ratings:

http://forums.debtcc.com/forums/credit-check.html

In most of the cases, a collection agency is usually hired by your creditors to collect the debt. Occasions are very rare when the OC sells the debt to the CA. But, whatever may be the package offered by the CA or the OC, the reporting in your CR is the vital factor. If your accounts are reported as 'settled', it will hurt your credit scores as this status is treated as a negative item. The consequences of these statuses - 'Paid' or 'paid as agreed' are much better and are very nicely viewed by the future lenders. So, your concern should be to ask the agency how the accounts will be updated in your file. Insist on getting it in writing for your records.

No business will appreciate writing a bad check. This might make others cautious if they want to extend any benefits to you. For this reason, they may not offer anything unless you show your keen desire to pay the debt and improve your ratings.

Some companies have valid reasons to view your file and this fact does not lower your credit scores. Credit scores are lowered when some types of inquiries are made in your file.

If you require any sort of clarifications anywhere, just feel free to post it in the next one.

OK thank you! Yea I have had all the creditors send me a letter stating how the CR will be marked and all of them are marked Paid or will be at least. And they are sending me another letter stating the account was paid in full.

We recently got pre qualified for a loan but at a very high interest rate and that is how we found all this stuff on his CR.

Yes When I was younger I really screwed up and turned my reputation into a negative one. But have since taken care of everything except one check that I thought I took care of but can't find documents supporting that. So When I called the collection agency to take care of that outstanding amount I asked them to verify it and what not and they gave me all the info over the phone and mailed it to me as well. But when I asked them if I'm able to get a settlement on that amount, they said they don't allow it on checks. And while I'm going to pay off the debt as soon as possible I was wondering if this info was accurate or not?

Not only writing a bad check is a crime, but there are some processing fees attached with it. Bank can charge up to $40. You can be legally sued as well and you have to pay for the damages. It depends upon the agency and your negotiation on how they want to offer you if anything is possible

Yes I know. Back in 2001 I wrote several of them from not balancing my cehck book correctly and becasue of that I had to take a class to not be prosecuted, and pay all fees associated with them. I'm not proud of this and I'm not saying in anyway what I did was right or wrong. My check was for less several years ago and now it's racked up quite a bit of money and I thought this was all taken care of 5 years ago until I really looked at all this stuff and tried to pull out all my paperwork only to find out I missed one. For some reason I don't owe the bank anything, I don't know if I paid that or what but this is coming from a company that the check was written to.

Banks report the consumer's defaults to the Chexsystem. If you will try to open any new account in the future, you won't be able to do so until you have cleared the previous defaults recorded at the Chexsystems.

Call Chexsystem at 800-428-9623 or fax at 602-659-2197

Chex Systems, Inc.
Attn: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125

Do you mean bank accounts? Because I opened the one I have now awhile ago and just recently opened another. I have never had any problems with this aside from what happened in the past.

My above post relates to this statement made by you

Quote:

Ahh, so they wouldn't even have to send me anything to let me know, They would just report the situation to chex systems? Wow, I did not know that. Thank you, I guess I'll have to check with them as well and see what I owe to them as well...

Actually I just checked their website and it says the incident stays in their system for 5 years before it is removed. If this is the case, mine has already been removed from their system.

Hi friends .. I was wondering whether you have gone thru the http://www.debtconsolidationcare.com/repair-credit.html page. I found this page an infromative one. :)