I would like to get serious about rebuilding my credit history/score and work on getting these collections/debts off. I have a car loan, which automatically gets taken out of my direct deposit paycheck each week, so for the past 2 years, that has never been late. That's about the only thing that was paid on time always. I recently checked my credit report and seen my score is 515, which I thought was higher than expected. Needless to say I have a bunch of charge offs/closed accounts due to collections. I've been thinking about DVing them, but dont know exactly what/how I should go about starting this grueling process of rebuilding. Here are a few: Account Name: VANTAGE TRUST FCU Account Number: 125400000142XXXX Acct Type: Auto Loan Acct Status: Open Monthly Payment: $368.00 Date Open: 1/1/2006 Balance: $8,132.00 Terms: 41 Months High Balance: Limit: Past Due: Payment Status: Current Comments: Account Name: CAP ONE BK Account Number: 48623625XXXX Acct Type: Credit Card - Revolving Terms Acct Status: Closed Monthly Payment: Date Open: 10/1/2005 Balance: $931.00 Terms: Revolving High Balance: $931.00 Limit: Past Due: $931.00 Payment Status: Charge-off Comments: Credit line closed-grantor request-reported by subscriber Account Name: CHASE Account Number: 42668410XXXX Acct Type: Credit Card - Revolving Terms Acct Status: Closed Monthly Payment: Date Open: 5/1/2006 Balance: $1,209.00 Terms: Revolving High Balance: Limit: $500.00 Past Due: $1,209.00 Payment Status: Charge-off Comments: Credit line closed-grantor request-reported by subscriber Account Name: GEMB/WALMART Account Number: 603220313376XXXX Acct Type: Revolving Charge Account Acct Status: Closed Monthly Payment: Date Open: 5/1/2006 Balance: Terms: Revolving High Balance: Limit: $75.00 Past Due: Payment Status: Account transferred to another office Comments: Transferred to another lender or claim purchased Account Name: HSBC BANK Account Number: 515599000077XXXX Acct Type: Credit Card - Revolving Terms Acct Status: Closed Monthly Payment: Date Open: 5/1/2006 Balance: Terms: Revolving High Balance: Limit: $0.00 Past Due: Payment Status: Account transferred to another office Comments: Transferred to another lender or claim purchased Account Name: HSBC/BONTN Account Number: 211604101863XXXX Acct Type: Revolving Charge Account Acct Status: Closed Monthly Payment: Date Open: 10/1/2005 Balance: Terms: Revolving High Balance: $1,257.00 Limit: $0.00 Past Due: Payment Status: 30, 60, or 90 days past due date, was past due 120 days or more Comments: Transferred to another lender or claim purchased Account Name: LVNV FUNDING LLC Account Number: 211604101863XXXX Acct Type: Unknown - Credit Extension, Review, Or Collection Acct Status: Closed Monthly Payment: Date Open: 1/1/2007 Balance: $1,348.00 Terms: 1 Month High Balance: Limit: Past Due: $1,348.00 Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Comments: Account Name: LVNV FUNDING LLC Account Number: 603220313376XXXX Acct Type: Unknown - Credit Extension, Review, Or Collection Acct Status: Closed Monthly Payment: Date Open: 11/1/2007 Balance: $268.00 Terms: 1 Month High Balance: Limit: Past Due: $268.00 Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Comments: Account Name: PORTFOLIO RECVRY&AFFIL Account Number: 515599000077XXXX Acct Type: Unknown - Credit Extension, Review, Or Collection Acct Status: Closed Monthly Payment: Date Open: 8/1/2007 Balance: $575.00 Terms: 1 Month High Balance: Limit: Past Due: $575.00 Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department Comments: Account Name: TNB - TARGET Account Number: 36839XXXX Acct Type: Revolving Charge Account Acct Status: Closed Monthly Payment: Date Open: 6/1/2006 Balance: $331.00 Terms: Revolving High Balance: Limit: $200.00 Past Due: $331.00 Payment Status: Charge-off Comments: Credit line closed-grantor request-reported by subscriber That is all of them, sorry I got excited . After reading all the wonderful stories on here I got excited about rebuilding my future. As you can see, the first one is my car loan which has always been paid on time, other than that that's all of the items on my "freecreditreport" report, which i believe is experian Anyway, is there anything that's on there that looks like I may not even owe them for whatever reasons? Yes, they are all accounts that I had. I just don't understand what some of the terminology is like: Credit line closed-grantor request-reported by subscriber Needless to say, I don't want to get any bashing for writing so much, but what would some of your guys and gals opinions be as to my first steps to getting these paid and taken off my report. Thank you for all your help, Nicole
You will want to dispute these first through the credit reporting agencies. See what falls off. You're in for an uphill battle against Capital One and HSBC. In any event, you may consider communicating directly with the furnishers of information which remain after one re-investigation.
And as always, you might want to pull your credit reports directly from the agencies. There are things not reporting on this report, and when you look at all the line items, you may find errors.
apexcrsrv: you mean like just dispute the validity of the entrys on my report? the only reason i ask is because they ask for the reason(s)? just a silly question, lets just say 1 or 2 do get removed whats to stop them (collection agencies) from eventually (a month or two) noticing and then just putting them back on the report? im also assuming you mean uphill battle with those two because they are the worst to work with? jlynn, those are the only things listed on my "freecreditreport/experian" report. im not sure i fully understand what you mean by things not reporting? at any rate, thank you both for the replys, im still a credit newb so bear with me.
I mean dispute the accuracy and completeness of the data fields with the account tradelines. Look at the dates, pay status, account type, etc. Those are the only reasons you need to convey and don't do it online. Reduce it to writing. If you can get somethings deleted, they cannot re-insert them without providing you notice. They never do. I say you have an uphill battle b/c all of the entities you're dealing with are difficult to work with.
Do it in writing one letter at a time. While waiting for a response read up about your situation. You will need all 3 reports for a proper analysis. when the CRA looks into your dispute they will send their results along with an official copy of your report. Compare all three copies and dispute the inaccuracies between the 3 and go from there. with this many entries it will take time but patience is the key. these are pretty recent so they won't fall into the 7 year zone for a minute. Also a validation letter to the collection and OC's can't hurt as "maybe" the account is not yours. All worth a shot as well as contacting the OC and paying them off if they recently went to collection. also payment for deletion might be an option as the balances seem relatively small. If you live in Nevada as I do there are a couple places (nonprofit) to get free advice.
All the data fields as Apex mentions in his post are not reporting on that free report. You need to get your reports directly from each of the 3 CRAs either via annualcreditreport.com, or by paying the fee at their MAIN website. Where you got yours, that freebie is to entice you in to their monthly monitoring.
Yes, get the real reports. Still an uphill fight with HSBC and the likes. Likely, will take litigation.
