Got Negative Stuff Removed! Now What?

There may be several reasons. One is that most of the negatives may have been fairly old. Another may be that you have done little or nothing to add positive credit nor to decrease your debt/credit ratio. There are any number of possible reasons but now you can start wondering what you are going to do if you get sued by one of your creditors. Out of sight doesn't necessarily mean out of mind. Get sued and all the time, money and effort you put into fixing your credit be down the tube and that will really fix your credit for you.

 

Ask a friend or relative to add you as an authorized user to some older credit card accounts. If that isn't feasible, there are a few corporations that offer this service for a fee.

This is the "fastest" way to improve your score. It isn't the only way but, the other ways will take considerably longer.

 

Great advice Joshua. It is quite true that there is no use worrying about getting sued. If you owe money on a credit card, a vehicle repo or any other type of debt it is going to happen provided the debtor can meet certain criteria.

Most Debt collectors use a scoring model to determine whether they should sue a debtor or not. That scoring model is exactly the same as that used to determine whether you get new credit or not. One of the most important factors is income. If you have an income below a certain level you will most likely be denied any credit cards at all or you will only get low limit cards. That income level is about $1,000 to $1600 per month depending on the CC company. As the applicant's income level increases so will the credit limits offered on new cards they get.

Another factor is the debt/income ratio of the applicant. If the applicant owes an amount of money greater than he can possibly pay off in a couple of years or so excluding long term debt s/he is likely to be denied. A person earning $1,000 a month and owes $20,000 to $30,000 in debt won't be very likely to get sued and of course won't get any new credit either even if s/he somehow manages to get a sudden increase in FICO from say 580 up to say 680. That sudden jump in score will only signal that something very irregular is going on and great caution should be used in granting new credit. Of course, those companies such as Lowes, Home Depot or other store cards who only pull the score electronically but don't actually check the full credit history may very well get duped into giving out a new card. So with a low score there is less likelihood that you can get new credit but it is also true that the lower your score is the less likely it is that you will get sued.

If you have a low income and a low credit score and no property then there is not much point in trying to throw good money after bad by filing a lawsuit against you. If you have a good score and a good job and owe money to someone you haven't paid then there is no point in worrying about getting sued because it is only a question of when it will happen. The whole point is that if you owe money to someone other than a debt collector you need to worry about getting them paid ASAP so it don't go to a debt collector. After your debts are all paid you don't have to worry about getting sued and you won't have to worry about how to increase your credit scores. That will happen automatically.

 

Generally yes,the older the history the better,also very low balance,no lates ever on the history.Talk to apex they can help.

 

Yes beware they say we can do it without a hardpull they do. But for an approval they do a hardpull, hsbc does this all the time

 

You can ask but try having them raise their credit limit first.First Premier isn't the best but they listed my account as paid.But also in bankruptcy.