One of the biggest mistakes I see are using validation letters that are used and seen a million times on the web. Use those letters as a GUIDELINE! Do not copy them directly. Make the letters personal and professional and stand out of the disputing crowd. It also makes your case look more legit. Now don't get me wrong, our cases are legit, because we want 100% accuracy, but when the CRA gets the same sample letter time after time, they will start to think those are the frivolous ones.
This is a great thread...it definitely should be studied by all the newbies like me! Keep it up all you experienced "old timers" clc
I agree, I love hearing the don'ts. There is so much to learn, it makes it easier to learn what NOT to do!
can you do too many online disputes? I've heard varying opinions on this. I'd like to dispute all negatives, but how many should I do at a time?
I just my husbands, and I did 6 I think, but 2 of them were only reporting that the accounts were listed twice. I haven't heard back yet, I'm still in the 30 days. On mine, I did 4, 2 were verified and 2 were deleted. HTH Tracy
As far as improving your credit score I learned never to leave a card at over 15% utilization. I learned that you don't want to have a balance on all your cards at the same time.
Closing an account with a high balance still on it. Seems to confuse the hell out of the scoring algorithms and make your score higher.
http://consumers.creditnet.com/stra...ad.php?s=&goto=newpost&threadid=27502&pgnum=1 everyone should read the above thread about CRA's scanning information into a data base and being able to query the data..This is from someone who has worked or is currently working for a CRA. Everyone should be very aware, like DemPooches says in her notations above. >>>>> It's almost like playing chess or even checkers. You've got to be able to anticipate what might happen next and what your response might be. Jump, jump, crown me !!
allowing myself to become unorganized. you really need to keep originals and copies of each and every piece of correspondence from the cra in case you have to go to court. same with ca and of course you need to keep copies of everything you send (hard copies, not just on computer in case it crashes) and copies of green cards or ups/overnights this will save you many nights of headaches and anxiety. keep it organized (btw, i actually have everything, organized now)
18- Not filing a lawsuit against the last derog on my reports. Which could also be called "letting the system wear you down". I got my scores up in the prime range and now I'm getting tired\lazy and cant take the LAST STEP....even though I have numerous violations against the OC. JohnM
My very biggest mistake was disputing a (positive) paid auto loan b/c it was reporting in duplicate under 2 lenders (the account had been sold) Dummy me. That was before I started reading this board and understood ANYTHING. My concern was having an accurate report (LOL) So all 3 bureaus nuked it, and only EQ (thank you EQ) has put it back. DO NOT DISPUTE POSITIVE CREDIT LINES JUST BC OF SOME SMALL INACCURACY. 2nd mistake would have to be not hanging up immediately if you get a $#@%$ on the phone at a CRA (or CC for that matter) Call later and cross your fingers that you get someone nice.
Single biggest mistake is procrastinating. Quit analyzing, mulling, agonizing, getting overwhelmed with the enormity of it and losing sleep over it. Pick a starting point and Get on with it!
Biznote, I was curious about your particular experiences with this. Were the accounts closed, while money was owed? How much did scores go up/
One big mistake was not getting refused for credit while my scores were in the tank. Now that they are acceptable, I may not get refused and thus, I have no damages to show. What to do now? Screw up again ruin my credit again?
One mistake (newbie mistake) was not to negotiate a letter or a statement of some sort with the OC before paying the entire charged-off amount in cash. Now that paid charge-off is lingering on all my files. This is a great thread. Keep it up folks.
In my opinion,from my observations, (not personal experience) the biggest mistake people make in credit repair is not repairing THEIR OWN errors of judgment and/or life style, whenever possible,that got them into the credit problems in the first place.I am NOT talking about unfortunate unavoidable circumstances, I am taking about living beyond your means,being careless with bill paying,co-signing without a thought for the consequences,not having savings and insurance for disability,and thinking you will never grow old.
I made a really dumb mistake by disputing a NCO account for 10k that was suppressed by TU. 3 weeks later not only was it still on my report but not suppressed and my score dropped by 60 points..has since been deleted but I really felt like a dope. mark
This thread is great. I made the mistake of getting very angry when I first saw my reports. I immediately made copies of some receipts for a paid account and a court judgment that I had paid years earlier. They updated it, and now when I dispute, I can't even get the mailman to take my letters