OK, I don't even know where to start. First of all, I am getting a divorce. I have been a homemaker/student for six years. I have no job and my credit is screwed! My husband and I purchased a home together, but the loan was in his name alone because my credit is so bad. So that I could keep the house, we came to an agreement that I would have the house out of his name and into mine within two years. So, with that being said, I have two years to repair my credit enough to have a chance at financing my home alone. Before I came to this site, I got my credit report from Experian and submitted the "not mine" dispute for all my delinquent accounts through Eperian online (no paperwork involved). I guess I really need to know the best game plan to follow to repair my credit. If I dispute accounts, do I send the dispute to the original creditor or to the CA?(if Both appear on my Credit report) *Bealls $916(Transferred to Asset Acceptance being reported as a collection account. Last payment reported on Oct '03) *Providian $701 written off, last payment on Apr '03(transferred and charged off to Cavalry Portfolio svc. which says it's a collection account with $999 past due as of March'05) *CBCS $175 Collection Account March'05 (Originally Bellsouth Telephone bill, not listed on report) *CITI/Shell $710 (charge-off last payment April'03) *Fingerhut Credit $932(Charged off by creditor last payment Jan '03;reported as collection account by Jefferson Capital Systems with $932 past-due as of April'05) *JCPenny $292 Charged-off.written-off *Lowe's $416 Charged-off.written-off (last pmt June'03) *WalMart $378 Charged-off.written-off *Household/Orchard $1515(transferred to HSBC NV and charged off) *Jefferson Capital System $2836 Collection account reported since July'04;no pmnts made. *Medical Data Systems $183 Collection since Dec '03;no pmnts made *Medical Data Systems $508 Collection;no pmnts made. *Medical Data Systems $$251 Collection;no pmnts made. *Victorias Secret $99 Charge off Last pmt April'03 This is the sum of it all....please help! I want to keep my children in their home! And I want to have better credit in the process!
Welcome to the board! I am sorry to hear about the circumstances that brought you here. Is this only what is on your experian report? If so, you need to obtain your other reports from Equifax and Transunion. Over all, it doesn't look all that bad. So lets start at the top: If you have all your reports - have you opted out? Have all old/inaccurate personal information deleted? Are any of these accounts joint with your husband? Do you have any joint accounts? Are you planning on returning to work? (what i am getting at is will you have sufficient income to maybe open a secured credit card and pay some of this off in exchange for deletion?)
Welcome to the board! I am sorry to hear about the circumstances that brought you here. Is this only what is on your experian report? If so, you need to obtain your other reports from Equifax and Transunion. Over all, it doesn't look all that bad. So lets start at the top: If you have all your reports - have you opted out? Have all old/inaccurate personal information deleted? Are any of these accounts joint with your husband? Do you have any joint accounts? Are you planning on returning to work? (what i am getting at is will you have sufficient income to maybe open a secured credit card and pay some of this off in exchange for deletion?) Whoa! It is a huge mess trying to view all three of my reports at once. Overall the accounts are the same on all the reports...a couple of oddballs on each report. On my TransUnion report, there are sooo many credit inquiries from collection agencies. OK. I have opted out.... I am correcting wrong personal info on my reports, and boy is it wrong! I have only one joint account with my husband, and it is Ford Motor Credit. This is now his loan. It is on my credit too. Yes, I will be working....any accounts that are adequately validated I will try to negotiate and pay. I mean, overall, I don't actually owe a large sum of money, except student loans, which I'm not including because they are deferred. The only thing is the many inquiries ...how do I get them to stop? The most recent one was 4/20/05 and it's a collections dept. This worries me cause I didn't authorize the inquiries!
Inquiries? Is this a horse Race? Go to: www.artofcredit.com There is a thread on bumpage it will explain how to remove the inquires. Good luck Wizzard
Re: Re: Divorcing...Need Advice! If you co-signed the loan it is your too until it is paid off If you have CA accounts, they are allowed to do Account Review Inquiries as much as they want since it is a legitimate business purpose. Of course they do as many as they can to mess up your credit score as much as possible.
Re: Re: Divorcing...Need Advice! pd11604 is right about the inquiries, etc.. What state do you live in? I don't know how long you've been married or if you have any children, etc. but in certain states there is alimony under certain circumstances, especially for homemakers. This would help. Also, understand that this will be no small task for you due to the emotional stress of a divorce. Add that together with the daunting task of rebuilding your credit profile. . . You will need a lot of support and emotional strength. Get a gameplan and your goal(s) together "on paper" and follow it. This will keep you focused as you make this journey. A great thought I keep in plain sight for myself. THE BENEFITS OF SETTING GOALS ARE SO GREAT THAT IT IS DIFFICULT TO UNDERSTAND WHY ANYONE WOULD NOT DO SO. LIVING LIFE WITHOUT SETTING GOALS IS LIKE SETTING SAIL WITHOUT A MAP TO GUIDE YOU, HAVING NO DESTINATION IN MIND, AND HAVING NO DIRECTION WHATSOEVER. THERE YOU GO, AROUND AND AROUND IN CIRCLES, WASTING PRECIOUS RESOURCES LIKE TIME, ENERGY, AND MONEY. NOT KNOWING IF YOU WILL END UP ON DRY LAND OR CAPSIZED IN THE SEA OF THE UNKNOWING. YOU MIGHT EVEN END UP SHIPWRECKED ON SOME DANGEROUS TERRITORY. SET GOALS!! ASK QUESTIONS. GODSPEED.
Re: Re: Divorcing...Need Advice! It depends upon what kind of inquiries they are. If they're "hard" inquiries (the kind others see), they hurt your score. If they are "soft" inquiries (account review, etc) they won't hurt your score.
