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GOOD NEWS! My credit score is rising!!

Date: Wed, 02/08/2006 - 09:44
Submitted by Brooklyn Girl Fl Trnsplnt on Wed, 02/08/2006 - 09:44
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Ok I purchased my 3 in 1 credit report this morning with the monthly monitoring. I just can't stand not knowing what's going on from day to day --- anyway. I cringed but clicked on the credit score button and when I finally opened my eyes I couldn't believe it!! All three of my scores went back up between 90 and 120 points!! WOOHOO!! I haven't even gone through the whole process of disputing everything (I have done 1 so far and that takes 30 days)so I am hoping that within the next two months or so everything will be right where it should be and I can continue the clean up from there!! You don't know how much better I feel seeing that it finally went back up. and in less than a month. I had brought my cc's up to date so I am sure that is what helped. I only have a couple of questions though. On my current car loan - which has NEVER been reported as late in the last two years - Equifax has everything in there correctly but has "obsolete" next to it. It also has this notation on my old account which I had paid in full. Also there are about 2 or 3 accounts listed with no collection agency name or much information. Can I have them take those off? Also there are two on it which say that they were opened last year and they were opened nearly 6 years ago!! They are killing me. I am sending letters out to all the Credit Agencies but any tips on how to word this kind of mayhem? LOL Thanks a bunch, you have all been a great help! :oops: :lol:


Congrats Terrell on your success :D I'm sure your score will be keeping well in the coming days too. It's the result of all the hard work that you put on it.

Quote:

Equifax has everything in there correctly but has "obsolete" next to it. It also has this notation on my old account which I had paid in full.

Could you explain if the second account that shows ???obsolete' is over 7 year reporting period or not? I think, the accounts that are about to go off are reported as ???obsolete'. Or if any info on the particular account is out-dated, then it is reported as ???obsolete'? Any suggestions from others?

You can definitely write them to inquire the name and contact details of collection agencies that are not showing in your report.

Also ask them to rectify the date of opening of your bank accounts, because a long credit history is always better than a shorter one.


Submitted by stanley on Wed, 02/08/2006 - 11:36

stanley

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Quote:

On my current car loan - which has NEVER been reported as late in the last two years - Equifax has everything in there correctly but has "obsolete" next to it. It also has this notation on my old account which I had paid in full.


Did you have anything negative in this account in the past? Usually, negative information that is towards the way of getting removed from your file after the 7 years period is marked as 'obsolete'. Review this account and if you feel it never had any negative remark, it needs to be disputed with the bureau.

In some cases, some collection agencies try to increase the stay of a particular account by re-aging the dates. This is usually done to befool the bureaus and making them assume that the item is not ???obsolete'.

Incorrect entries are one of the factors that lower the credit scores. If you have proof that shows the accounts in credit report posted incorrectly, you must dispute with them and wait for the positive results.

Use very simple and formal language for drafting a dispute letter to the CRA. There are several dispute letters available online that can be used for this purpose. You can expect the positive results of your dispute within 30 days as the standard time.


Submitted by curlycarl on Wed, 02/08/2006 - 14:13

curlycarl

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Hi Brooklyn Girl!

That is just wonderful that your credit score went up! What a great feeling :) Keep working hard on it, especially removing anything that shouldn't be there, and hopefully your score will go up even higher! Way to go!!!

~Mary :)


Submitted by Mary on Wed, 02/08/2006 - 14:42

Mary

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Thanks everyone! The first car loan was paid off in September 2004. Then I got my car loan for the new car in September 2004. There haven't been any negative postings on this new account, (or the first paid off car loan which is also marked obsolete) it actually reads Pays as agreed/never late. Netiher one is hitting the 7 year mark yet. I am thinking it was just an oops on their part and hopefully they will correct it when I bring it to their attention.


Submitted by Brooklyn Girl Fl Trnsplnt on Thu, 02/09/2006 - 06:03

Brooklyn Girl Fl Trnsplnt

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