Dont know who to pay, would like to just pay and get this stuff off!!!

Discussion in 'Credit Talk' started by baybay, Jan 5, 2015.

  1. baybay

    baybay New Member

    I have tried all of the credit repair dispute this or dispute that garbage. It is nothing but a run around and takes forever. I am over this and just want to fix it.

    I started my construction company at 18 years old. Unfortunatly I was unable to receive any lending at that age or money from my parents(because they don't have any) I funded the business with a few cc's and a small loan on a van through usaa.

    fast forwad 8 years my construction company has taken off and we have become a real player the commercial game. I want to clear my credit up and have no issue paying for deletion. However,

    1.) if I don't have to pay total amounts that would be fantastic

    2.) I don't have any collection agencys on my report, only the original debtors( best buy, usaa, and chase) but they say either account sold or charge off.

    my total debt is only about 15,000 and I have three cc's of small amounts all in good standing for 2 years(never in bad standing) and an auto loan in good standing(never in bad standing). All of my negative stuff has been closed. However my credit scores are all around 550(Equifax and transunion) and 623(Experian) I think Experian is higher because they have one of my dads high limit cards with a 0 baance on my report by accident.

    Need advice! tired of all the credit repair scammers. Looking to the people to help out
     
  2. jam237

    jam237 Well-Known Member

    Unfortunately, just paying it, doesn't make it go away. It stays on your credit report as a PAID account, and has just as much of a negative effect as the UNPAID account does.

    When a company sells the account, they no longer have an interest in your account, but the tradeline is still allowed to report their experience with you. Unfortunately, that places you in the circumstance where their tradelines can report negative information, and there is no opportunity to try to negotiate a payment for deletion, because they are unable to make a deal with you, because they no longer have the interest (yes, they could recall the account from the junk debt buyer, or collection agency; but most won't, unless there is a major incentive for them doing so.) Contacting the OC will just give the name of the CA/JDB that they transferred or sold the account to most of the time; and contacting a CA/JDB that's not reporting on your credit report could incentive them to start reporting on your credit report (or give them just enough information that they can 'fix' what they're trying to report already.

    This is why, although it does take much more time, and practice, building a long-term repair strategy can be beneficial. I am not talking about the "pay us $250 and we'll make all of your bad tradelines disappear in 30 days" nonsense that you may hear, but building an actual strategy where you look at each account individually, and decide what it will take to help.
     
  3. AaronatFRS

    AaronatFRS New Member

    hey dude, my names Aaron and yes I work for a credit repair company but, i don't mind just reaching out with some responses for you because i too went through the run around and just studied up and took the time I needed to repair and maintain my credit from then on. It is a timely process to do on your own...but doable. People don't like to because either they aren't acquainted with the laws that are put in place for consumers (which varies from the state you're in sometimes) to protect them from bureau scams and people/companies saying they'll help or what to do when in all reality, yeah bro, they just want to string you along and get as much money from you as possible until you smarten up or go even more broke then when you started (including all their phone calls added to the one's already...if you're phone hasn't already shut off and went to collections itself haha) or they can't keep up with the flood of correspondence mail that comes with it. The three bureaus aren't even government companies, so they want to keep you in the dark on the hidden stuff on you're report so when you go and try to buy a home or car they have something to report and continue to report. It's what keeps them running. So when you talk about paying down or off debt simply because you want to get your score up or to just feel better about yourself in most cases doesn't mean your scores gonna go up. They have a history that goes back awhile on late payments that'll keep your score down until you press them which they try and make as difficult as possible (like you're quote dispute this and dispute that garbage) and make you send a million letters before you get anywhere if you do in fact make headway at all.

    Ok, so based on your post details, which is hard to 100% accurately assess without looking at it myself, it sounds like your scores are much lower than expected because maybe the negative accounts that are in fact closed may have been closed but aren't removed completely or the history of them (like i said earlier late payments, etc) are still lingering on your report. Also what Ive seen with my clients happen a lot is that they are getting separate readings from each bureau and one's saying 180 days late and the other two are saying different stuff but, in point, all hurt your score quite a bit. A little trick with the credit cards too man, is to make sure you either pay your desired payment if you've worked out a good payment system (a good one is to keep your balance at 30%) 7 days before its due or call your cc company and find out when exactly they report your activity because even though your due date might say one thing the cc company will report it early which might reflect bad on you which will to hurt your score in the history revolving debt department.

    And...the experian thing with your dad's card showing up is a great example of why these bureaus get it wrong a lot with accurate data. Assuming you and your dad have the same last name and shared an address for a time is enough info for them to merge them by accident and messing everything up. A high limit card with a 0 balance doesn't necessarily mean good and result in a higher score either...it could simply be because like i stated before that equifax and transunion have info that for some reason or another isn't showing up on experian or just hasn't came in yet if any of negative stuff is new or newer.

    With the credit cards not showing collections but saying things like "account sold or charge off" makes me ask the question of how recent these things are...They could have now been sold off to a collection agency or a couple depending on the maturity and now here soon you're going to have collectors showing up on there. All these things need to be addressed and soon. Its up to you how you want to go about it or when or how much time you're willing to spend (which it sucks to tell you won't be an overnight thing). The datas out there for your own approach or find a reputable service company (not saying it needs to be mine at all). Hell, I've had to turn people away after looking at their credit report because I honestly couldn't help them because either they have too much still coming in which wastes my time and your money and both our efforts on getting your score up only for it to drop back down shortly after. It's important to assess whats on there in great detail and fix what you can (which you'd be surprised what can completely come off without payment) yourself or with a trustworthy professional and begin building a positive credit plan habit with a system you build yourself or with the person you find. I'd love to help if you thought you ever needed it but, that's on you. I come from a tough family with 3 brothers who couldn't be talked into anything unless we came ourselves which was never easy for anyone haha. PM me or reply back if you need anything at all bro....I definitely know how frustrating all this can be. - A
     

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