Our Credit story....

Date: Wed, 07/26/2006 - 16:12

Submitted by duffield461
on Wed, 07/26/2006 - 16:12

Posts: Credits: [Donate]

Total Replies: 3

My husbands credit score is only 540. We have a personal loan and a vehicle loan that both have never ever been late. As far as bad credit he has about 300 in medical bills, a 400 alltel bill and 400 other little bills here and there. We do have an old phone bill that is on the report for over $800 dollars but the kicker is that the phone company eft the phone on for 6 months after we moved and told us it was off so we are protesting it. There is also stuff that was late at one time but is now completely paid on there. We have the money to pay everything off right now but I am wondering will that help at all? We want to purchase ahouse but can not get a loan to save our souls with his credit score. We just need some help to identify the proper steps in improving his score and cleaning his credit.

You need to make sure if your credit copy has the accurate infor

You need to make sure if your credit copy has the accurate information. If you have queries on any item, highlight it and dispute with the CRA reporting it. You can pull the latest copies from the three bureaus for a better comparison. Inaccurate entries lower the credit scores. If there are incorrect items, it will be removed from your file and hence increase the scores. This thread will be quite helpful to know some tips about repairing the credit.

http://www.debtconsolidationcare.com/forums/credit-check.html

Once you are sure that your credit copy is displaying the correct information, get a free quote from the debt counselor and know if this will help at your situation. The plan eliminates most of the late payment fees and brings down the total amount. Also, there will be a reduction in the interest rate that you are paying to your creditors presently. Take professional advice before getting started in the program.

lrhall41

Submitted by GunsNroses on Wed, 07/26/2006 - 16:24

( Posts: 485 | Credits: )

Is there a way to get the ones we have paid removed so that they

Is there a way to get the ones we have paid removed so that they do not show as derogatory any longer? Also with such little debt, do you think it is in our best interest just to pay it all off except the one we are protesting? Thanks again..I know I am full of questions but I would love to at least get his score to 620.

lrhall41

Submitted by duffield461 on Wed, 07/26/2006 - 16:39

( Posts: | Credits: )

Go ahead with any questions you have. Don't feel shy. After all

Go ahead with any questions you have. Don't feel shy. After all you are trying to repair your credit for good reasons and we are here to help and learn from others. :)

The derogatory remarks cannot be removed from the credit file before the seven years period. This is mentioned in the FCRA. But since you have paid off those accounts, the people viewing your credit might overlook that negative part. Check the date of first delinquency of these accounts. They get removed after seven years from that date of original delinquency.

Paying any debt will boost up your credit ratings. The creditors will report them to the bureaus and your scores will increase in the next scoring update. So, this will be a good decision of paying off the past debts. Read the FCRA laws on the FTC website. You will get better knowledge on how to repair your credit.

http://www.ftc.gov/os/statutes/fcradoc.pdf

lrhall41

Submitted by GunsNroses on Wed, 07/26/2006 - 16:59

( Posts: 485 | Credits: )