ok so this is my credit report below, can someone look at this and tell me what should be the first thing to do about this? it says I have a rating of 587 - I know that sucks right? but most of these things are sooo old or low in amount I can pay them off but would they still show up as bad? please help. Thanks, Nickel76 AMERICREDIT FINANCIA Account Name: AMERICREDIT FINANCIA Account Number: Acct Type: Installment Acct Status: Closed Monthly Payment: $260 Date Open: Dec, 1999 Balance: $0 Terms: N/A High Balance: $8,885 Limit: N/A Past Due: $0 Remarks: AUTO Payment Status: N/A CITI CARDS CBSDNA Account Name: CITI CARDS CBSDNA Account Number: Acct Type: Acct Status: Closed Monthly Payment: $78 Date Open: Sep, 1997 Balance: $3,754 Terms: N/A High Balance: $0 Limit: N/A Past Due: $1,032 Remarks: CHARGED OFF ACCOUNT ACCOUNT CLOSED BY CREDIT GRANTOR Payment Status: N/A EMERALD INFORMATION Account Name: EMERALD INFORMATION Account Number: Acct Type: Installment Acct Status: Open Monthly Payment: $0 Date Open: Apr, 1996 Balance: $161 Terms: N/A High Balance: $1,986 Limit: N/A Past Due: $0 Remarks: COLLECTION ACCOUNT Payment Status: N/A EMERALD INFORMATION Account Name: EMERALD INFORMATION Account Number: Acct Type: Installment Acct Status: Open Monthly Payment: $0 Date Open: Nov, 1996 Balance: $202 Terms: N/A High Balance: $1,983 Limit: N/A Past Due: $0 Remarks: COLLECTION ACCOUNT Payment Status: N/A ENTEX Account Name: ENTEX Account Number: Acct Type: Open Account Acct Status: Open Monthly Payment: $0 Date Open: Dec, 1999 Balance: $18 Terms: 18 s High Balance: $18 Limit: N/A Past Due: $18 Remarks: CHARGED OFF ACCOUNT Payment Status: N/A FIRST NATIONAL BANK Account Name: FIRST NATIONAL BANK Account Number: Acct Type: Revolving or Option Acct Status: Closed Monthly Payment: $0 Date Open: Dec, 2000 Balance: $0 Terms: N/A High Balance: $375 Limit: N/A Past Due: $0 Remarks: N/A PAID ACCOUNT / ZERO BALANCE Payment Status: N/A FMC-OMAHA SERVICE CT Account Name: FMC-OMAHA SERVICE CT Account Number: Acct Type: Installment Acct Status: Closed Monthly Payment: $285 Date Open: Apr, 1996 Balance: $0 Terms: N/A High Balance: $15,405 Limit: N/A Past Due: $0 Remarks: PAID ACCOUNT / ZERO BALANCE AUTO Payment Status: N/A GMAC Account Name: GMAC Account Number: Acct Type: Installment Acct Status: Open Monthly Payment: $368 Date Open: Sep, 2001 Balance: $13,481 Terms: N/A High Balance: $17,100 Limit: N/A Past Due: $0 Remarks: AUTO Payment Status: N/A PACIFIC CREDITORS AS Account Name: PACIFIC CREDITORS AS Account Number: Acct Type: Collection Account Acct Status: Open Monthly Payment: N/A Date Open: Mar, 1997 Balance: $227 Terms: N/A High Balance: N/A Limit: N/A Past Due: N/A Remarks: N/A Unpaid Payment Status: Unpaid PACIFIC CREDITORS AS Account Name: PACIFIC CREDITORS AS Account Number: Acct Type: Collection Account Acct Status: Open Monthly Payment: N/A Date Open: Dec, 1996 Balance: $251 Terms: N/A High Balance: N/A Limit: N/A Past Due: N/A Remarks: N/A Unpaid Payment Status: Unpaid PALISADES COLLECTION Account Name: PALISADES COLLECTION Account Number: Acct Type: Open Account Acct Status: Open Monthly Payment: $0 Date Open: N/A Balance: $151 Terms: N/A High Balance: $151 Limit: N/A Past Due: $151 Remarks: COLLECTION ACCOUNT Payment Status: N/A TU ELECTRIC Account Name: TU ELECTRIC Account Number: Acct Type: Open Account Acct Status: Open Monthly Payment: $0 Date Open: Sep, 1996 Balance: $52 Terms: N/A High Balance: $52 Limit: N/A Past Due: $52 Remarks: CHARGED OFF ACCOUNT Payment Status: N/A
Credit Report Copy... Be careful A paid collection is as bad as regular ones. So don't rush with payments. Good luck
Re: Credit Report Copy... Initially, that's true. Paying off a collection will not raise your score immediatly. Over time, however, paid collections are much better on the credit report than unpaid ones.
Re: Re: Credit Report Copy... Not true. A paid collection is as bad as an unpaid collection scorewise. In 5 years it will still be just as bad. The only time a collection can be considered good is when it's gone.
Re: Re: Re: Credit Report Copy... Unbelievable. 2 things I gleaned from this post: Don't pay the CA because a paid collection is as bad as an unpaid collection The only time a collection can be considered good is when it's gone. Does this mean gone from your report? as in deleted after the SOL has expired? Hmmm, funny when I say the same things - I'm wrong :/
Re: Re: Re: Credit Report Copy... You and I are going to have to disagree on this one. The problem with an unpaid collection is that the creditors keep updating the credit report. Once it's paid, they stop doing that, and the account is allowed to age. Old credit references have a much smaller effect on the credit score than do recent references. If you're lucky enough to have an unpaid collection that isn't updated, then what you say could be true.
Re: Re: Re: Credit Report Copy... DON'T PAY IF THEY WON'T REMOVE THE CA...problem solved Get it in WRITING
