I got my first ever CR -- After 5 years of 'pretending' I didn't have a bill to pay -- Needless to say, it wasn't good...But I made the last payment on a CC settlement to my CA, and I have been paying back my school loans on time for 8 months. I recently got approved (don't ask me how) for a Sprint cell phone. I am also waiting to get my Cap One secured card too! So hopefully, in a few months I will have my first positive tradelines on my CR. My question is not so simple....How long do you think it would take to repair my credit? FICO score is a miserable 488 (Experian is 555)...I have 5 negative TLs (for 3 measly accts), NO positive yet....But all the negative are being paid off (slowly) What can I do to speed up the recovery process? How long do you think till I'm in the 700 range? what's the best way to get there?
Dispute everything, once all the bad things are gone , and you have a year or two of good solid tradelines, 700's shouldn't be a problem. EVERY bad item must be gone or i doubt you'll ever get over the 650's
Thanks! I called Eq with ONE problem and the nice lady said she'd investigate each tradeline, that way, if each failed to respond in 30 days they would wipe them off the CR....I called today to check up and so far, only CitiBank has gotten back claiming the TL is correct (As it is) Another question-let's say the rest of them fail to comply with this dispute and don't respond within the 30 days (I have 16 days --fingers crossed) --Equifax has to, by law, delete them, correct???? If they do, how do I get the others to follow suit? Does that happen automatically??? This is all resting on the hope that a miracle will occur and NO one else gets back to Equifax! Thanks!
This is unlikely(but possible). Be ready to send validation letters once you receive the info back from EQ. How old are these debts? The older they are, the better chance of them being deleted. Some debts may require 2 or 3 disputes to fall off. YES You have to dispute with each CRA independently. Does not happen automatically. I would dispute with TU and EX right now, don't wait for response from EQ!
hey, congrats on your decision to clean up your reports.. I was at your score in January, I am not sure what my scores are now, not really caring, but I have had many items deleted. It just takes some time it seems, I still have a long way to go... many many bad tradelines.. but I also have quite a few positive too. Wish you the best of luck.
Just to let you guys know I have a charge off and my scores are all over 740. tkae heart dears. It took me 5 months from 525 to get to these scores. I realize this is not typical but it can be done in this time and with a charge off still on all bureaus.
Thanks Tony!!!! Made me feel sooo much better!!!! I am hoping to get somewhere around the mid 600's as soon as this mess is cleared up on my current report -- I would love to be near the 700's in a year or so when I looking to buy a house! I am truly hoping the delete a lot of my items.... One loan will come off completely in October (made a deal with them) and I will just have my one other school loan in installments! And 1 Charge-off!!!! Then all I need is POSITIVE lines! Thanks so much for that positive thought! My fingers are crossed!
I think you will have to have positive tradelines reporting for a minimum of three years to get over 700. Not positive, but I know the length of credit history is a big factor. L
oh I forgot nes, you can have some one add thier positive trade line to your cr reports not sure how to do it. this should give the positive you need. Some one on the board should be able to tell you how to do this. You will need to know some one who has been pauing on something ( good rating ) for three years or so. ask around on the board how to do it. Hope this helps.
ness62, If the lady at EQ said that she would investigate ALL your derogs now is the time to apply for a CC that pulls EQ ONLY! Charlie
Remeber what I was telling you the other day about being an authorized user on someone elses credit card... Just make sure they have good credit!!!
