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Getting started - got my credit reports, where to start

Date: Thu, 01/26/2006 - 12:44
Submitted by on Thu, 01/26/2006 - 12:44
Posts: 202330
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I got all three free through my states new law, I was planning on spacing them out through the year, and I will from now but thought it best to get all three to get started.

Can I post them on here for specific advice(sans personal info) ? If so should I post all 3 ( gonna be long)?

I had to take settlements on two cc, one this summer and one at the end of 2002. I also had one go to collections before being paid in full early last year.

I don't have any credit accounts open, havent charged anything since 2002. I managed to pay everything off and get my finances in order, and figured it's time to do what I can to clean up my credit if I can.

LMK where to start


I don't think you should post your credit reports online. However, if you have specific questions about certain ones, feel free to ask them here. Just don't post any information (like account numbers) in your questions. This is for your own protection, since you never know who is looking at this website, nor do you know if there are web-crawlers out there looking for account information.


Submitted by Bowen29 on Thu, 01/26/2006 - 13:46

Bowen29

( Posts: 42 | Credits: )


Here is some info from my equifax -


Summary -
Mortgage 0 $0
Installment 0 $0
Revolving 4 $0
Other 1 $0
Total Accounts 5 $0
Number of Open Accounts 0
Number of Closed Accounts 5
Total Accounts in Good Standing 1
Accounts Currently Past Due 0
Negative Account History 1
Inquiries in Last 12 Months 2


Account Name Account Type Account Number Date Opened Balance Date Reported Past Due Account Status Credit Limit
AMERICAN EXPRESS Revolving -xXXXX 04/2001 $0 01/2004 $0 CHARGE-OFF $0
CAPITAL ONE Revolving xXXXX 03/2001 $0 09/2004 $0 PAYS AS AGREED $0
DISCOVER FINANCIAL S Revolving xXXXX 07/2000 $0 08/2005 $0 PAYS AS AGREED $1,500
HSBC BEST BUY Revolving xxxxx11/2002 $0 05/2004 $0 120+ DAYS PAST DUE $0
lvnv funding llc Open HOUSE- xxxxxx n/a $0 01/2006 $0 PAID COLLECTION $0


Submitted by on Thu, 01/26/2006 - 13:55

( Posts: 202330 | Credits: )


Quote:

I had to take settlements on two cc, one this summer and one at the end of 2002. I also had one go to collections before being paid in full early last year.


Hi! I was just wondering, are these the only negative marks you have on your report?? Are the CCs paid off, the ones you had to take the settlements on? and what about the other account that went to collections, whats the status on it? We need to know a little more before we can recommend what you do next. Shirley


Submitted by imkimssister on Thu, 01/26/2006 - 13:58

imkimssister

( Posts: 1301 | Credits: )


The american express, was paid in a settlement at the end of 2003

Capital one was a small card, not used much - no problems.

Discover was paid in a settlement this past july

Best buy was sent to collections in 05/2004 and was paid - the lvnv funding I believe was for that.


All of these accounts are closed. and have been for some time. Do I need to file anything to have their status changed from revolving/open to closed?

Can I get the 120+ days past due on the best buy removed?

Should I apply for a new card(gas card) and start making monthly charges and paying them off monthly?


Submitted by on Thu, 01/26/2006 - 13:59

( Posts: 202330 | Credits: )


Did you complete all the formalities to close these accounts? I mean it requires some paper works. If not, contact the OC to make suitable arrangements.

It seems that Best Buy acc is reported twice, you can dispute it with credit bureau. Since it was paid to collection, lvnv is supposed to stay there only. Am I right?


Submitted by stanley on Thu, 01/26/2006 - 14:07

stanley

( Posts: 1639 | Credits: )


Quote:

lvnv funding llc Open HOUSE- xxxxxx n/a $0 01/2006 $0 PAID COLLECTION $0


Okay, I take it that this account went to collections and you paid it off through them so they stated you as a paid collection. This is as good as its going to get on this account---until it expires from your credit report and goes away. It is very good that you paid it, but once it hits your credit report, the very best you can hope for is to pay it and get a paid status. The credit bureaus will not remove it until your seven years are up. But a 'paid' charge off or collection is better than just the charge off. It shows future creditors that you still paid if off. I am in the same boat as you, I have charge offs that I am currently paying on myself and the best it will get for me, for now, is to get a 'paid charge off'. That is until the seven years expire and the credit bureaus take them off.

As for your other account that is in collections. Are you currently working with the collection agency to pay it off? whats the status on it?
shirley


Submitted by imkimssister on Thu, 01/26/2006 - 14:10

imkimssister

( Posts: 1301 | Credits: )


"As for your other account that is in collections. Are you currently working with the collection agency to pay it off? whats the status on it? "

I don't have an account in collections right now. The AMEX and Discover card were paid off in lump sum settlements. The capital one wasn't used and was ended for inactivity. My best buy card went to collections and was paid in collections. So thankfully I am debt free (except for some minor family debt that I am attacking steadily) .

Can I get either the best buy or the lvnv removed since they are both for the same debt?


Submitted by turin39789 on Thu, 01/26/2006 - 14:12

turin39789

( Posts: 4 | Credits: )


Quote:

As for your other account that is in collections. Are you currently working with the collection agency to pay it off? whats the status on it?


Opps, while I'm asking, you're already answering. lol
okay, you paid this and its still showing as a charge off. You have to contact the company and get them to change the status with the bureaus. I would contact them and I would also dispute it with the bureaus myself and let them investigate it as well. If its paid, it certainly should reflect that. shirley


Submitted by imkimssister on Thu, 01/26/2006 - 14:13

imkimssister

( Posts: 1301 | Credits: )


Quote:

Can I get either the best buy or the lvnv removed since they are both for the same debt?


yes!! I just did this myself. I had two of the same accounts on credit report. I pointed it out to the credit bureaus and one was removed. It shouldn't be a problem, just point it out to them and let them investigate it. shirley


Submitted by imkimssister on Thu, 01/26/2006 - 14:16

imkimssister

( Posts: 1301 | Credits: )


You should send a letter to the company to update your report and keep a follow up over the phone. Insist them to send you the update done in writing.

While you are looking forwards to improve your credit scores, it reminds me of one article I read in this site some time back. Have a look at the thread below:

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

Your scores are the most vital factor in evaluating your financial worthiness. Based on these scores, you will be charged interest rates. High credit scores will bag low interest rates and vice - versa.

I will also like to add here, not to use any credit repair packages for deleting the negative information appearing in your file. They are legally to stay there for a period of 7 years and no private agency can remove it. Perhaps, if any claims doing this, it might be an easy way of making money from you.


Submitted by john on Thu, 01/26/2006 - 14:48

john

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