Help cleaning up my credit report
Date: Fri, 04/02/2010 - 16:25
I think I am finally in a place that I can start cleaning up my credit report. The only open collection account is from LVNV Funding and they are not responsive so I am letting it go for now. I just received a unsecured credit card from Cap 1 with a limit of 500.00. I also signed up for a credit monitoring service though my bank and received my 3 credit reports with scores. Trans=563, Experian=601, and Equifax=623. I would like to start cleaning up the derogs on the reports but am not sure what to dispute. I disputed a HSBC account on Eq and they deleted it but the same account on Trans stated "was noted and updated". What should I look for in the credit reports that might help raise them?
I currently have 1 installment loan (car) that I pay early each month and the new credit card. I have opted out of the 3 CRA's and not sure where to go from here. Everything has been paid/settled except for the LVNV account which is stating on 2 CRA's as being closed.
I know that different agencies use different CRA's but why would there be such a difference in Equifax's score and TransUnion? What am I missing that might help raise the score?
Are there professionals that can look over your credit report and let you know what might be disputed with the agencies or is it a time thing?
Any help will be greatly appreciated.
IMO you may dispute the LVNV reporting for which you haven't rec
IMO you may dispute the LVNV reporting for which you haven't received any response.
Unfortunately, information can't be removed from the credit report as long as they are correct. You can hire the service of a credit repairing company but often you can also do the things yourself without paying them fees.
It may take some time for the credit reporting agencies to update the information on your report. With time you may see positive changes in your score.
A few suggestions: Look at Reason Codes for clues. If you buy
A few suggestions:
Look at Reason Codes for clues. If you buy a credit report with a FICO score, it will list, in order of significance, the negative factors impacting your score. You should work on correcting the underlying problems related to these ???score factors??? or ???reason codes,??? since they are the primary causes of your scoring deficiency.
Dispute inaccurate, obsolete, and unverifiable items on your credit reports. If you see items on your reports that you do not recognize, or see late payments that you believe you paid on time, you have the right to dispute these items with the credit reporting agencies.
Establish new positive credit if you do not have at least two to three open accounts with positive payment history. One option is to open a secured credit card; but, make sure the card reports to all three of the major credit bureaus, and keep the balance at no more than 7% to 10% of its limit.
Also, some credit repair companies will give you a free initial review of your report.
Good luck!