If any help is possible in raising the scores (Experian 499, TransUnion 530, Equifax 583) I would appreciate it. Now here's the deal on the reports: BK - discharged 7/1999 Equifax Report: -4 accounts included in BK -Collection accounts: 1 included in BK, the other a paid collection that the company wouldn't deleted for 320.00 - shows zero balance -Equifax Check Svcs - Returned check for 1998 as charge-off that was paid and now shows zero balance w/ chargeoff -First Consumers Visa - Charge-off after bankruptcy. Was settled w/ CA and now shows zero balance, charged off account, acct transferred or sold -Signet Bank - closed account, too new to rate, zero balance (was a student loan) -Univ. of MD - closed account, pays as agreed, zero balance -US Dept of Ed - payment deferred, too new to rate -Five credit cards - Cross Country (perfect, over 80% of avail. credit used, 1yr), First Prem. Visa (perfect, over 80% of avail. credit used, 1 yr), Providian (perfect, over 90% of avail. credit used, 5 mos), First Prem. MC (perfect, over 70% of avail. credit used, 5 mos., Orchard Visa (over 85% of avail. credit used, 1 yr., 3 mos.) -Triad Financial - Auto loan - 23 months perfect pay history (account now closed, doesn't list closed but shows zero balance) -Wells Fargo - Auto loan - Perfect pay history (5/2001 start date) 65 inquiries in 2 years (most were shopping for car loan in 5/2001 and mortgage loan (very recently) TransUnion: Public Record -State of MD - Paid civil judgement (paid student loan that shows good pay hist. on Equifax - it was paid late) -Discharged BK 7/1999 Adverse Account Info -Pacific Creditors - Paid collection 320.00, 0 Balance -Five accounts included in BK -US Dept of Ed - student loan not in repayment (deferral form received late so report says 1 time 60 days) -Auto loan (Triad Financial) - closed, in 24 months from date closed, 1 time 30 days late -First Consumers Visa, 0 Balance, Acct transferred sold, charge-off Satisfactory Account Info Five credit cards - Cross Country (perfect, over 80% of avail. credit used, 1yr), First Prem. Visa (perfect, over 80% of avail. credit used, 1 yr), Providian (perfect, over 90% of avail. credit used, 5 mos), First Prem. MC (perfect, over 70% of avail. credit used, 5 mos., Orchard Visa (over 85% of avail. credit used, 1 yr., 3 mos.) -Wells Fargo Auto Loan - Perfect pay history (5/2001 start date) -Signet student loan (which is closed - is listed as unrated) - Kay Jewelers - Status as of 5/1995 - paid or paying as agreed, 0 balance (acct actually never used). Inquiries About 35 in last 2 years (most were shopping for car loan in 5/2001 and mortgage loan (very recently) Experian: Potentially Negative Items -BK 7/1999 -State of Maryland - civil claim satisfied Credit Items -6 accts included in BK -First Consumers - Charged off, settled for less than full, 0 balance, acct transferred or sold -Genesis Financial - Reporting above debt, listed as settled for less than full, 0 balance -Pacific Creditors - Paid collection account -Triad Financial - Paid current, was past due 30 days, 0 balance (doesn't list as closed) -Federal Student Loan - Open/Current, was past due 60 days, deferred Accts in Good Standing -Five credit cards - Cross Country (perfect, over 80% of avail. credit used, 1yr), First Prem. Visa (perfect, over 80% of avail. credit used, 1 yr), Providian (perfect, over 90% of avail. credit used, 5 mos), First Prem. MC (perfect, over 70% of avail. credit used, 5 mos., Orchard Visa (over 85% of avail. credit used, 1 yr., 3 mos.) -Wells Fargo - Auto loan - Perfect pay history during whole loan (5/2001 start date) -Natl Auto Credit - Transferred (actually was included in BK) -Signet Bank - Paid/Never Late, zero balance -Signet Bank - Paid Inquiries About 35 in last 2 year (most were shopping for car loan in 5/2001 and mortgage loan (very recently) Hope I listed everything someone needs to help. Thanks so much!!!!!!!!!!!!
Welcome to the board. The first thing I have to say is that you have quite a project for yourself. I'm answering this because I saw you had a number of views without an answer, and I remember waiting for my first answer a few months ago. My constructive advice is to: 1. Read the board and use the search feature. It took me a few weeks to understand what the heck everybosy was talkin about. 2. Get all 3 of your credit reports. - Sounds like you did that. 3. Make a list of every bad mark on your reports. 4. Prioritize you goals. Most people recommend starting with the worst bad mark and moving forward. I started with the easiest to get off and worked towards the hardest. 5. Invest in some kind of filing system - you need to be awfully organized for this to work. 6. There are a lot of knowledgable people on this board - but I sense some of them a little burnt out by answering the same basic questions over and over again. I only like to bother them when it is something specific that they are an expert at or if I think I've discovered a new strategy. 7. There are a lot of enthusiatic people on the board who like to help but might not make something clear or might have a misunderstanding about the law. Watch your sources and ask them for their sources. 8. There are a few loonies who you'd do best to ignore. 9. Starting saving all of the good threads or good web sites you find. You never know how often you need to look up the darn list of SOL (statute of limitations) or search for a collection agency at your states attorney general site. 10. THINK before you starting contactng creditors or collection agencies. For instance, I felt it would be a bas idea to claim I never paid late on account and then if it was verified 30 days later claim it wasnt mine. Also think of the consequences - you might start awaking sleeping dragons - be prepared to handle them. 11. Lastly be aware that this is a process that takes time. There will be ups and downs along the way. Ironically enough wiping bad stuff off your credit sometimes hurts you in the short term cuz you either successfully get rid of an old bad debt (which is good) but you simultaneously lower you avergae age of accounts (which is bad). Also sometimes verified accounts now have a new status date which on some scoring systems seems to be interpreted as a newer bad mark against. Sorry if this is preaching. This is a do-it your self site with lots of information and support from a lot of great people. I wish I had known some of the above when I started. Good Luck, Tom
The quickest way to increase your scores is to pay those credit cards down. You are carrying way too much debt on those cards.(ratio wise) Pay them down to 20 - 30 % used and you will see a significant jump. The other negative accts I would satrt disputing with the cra's. I would dispute the oldest negative first and then work your way to the newest.
Tom, I want to thank you for your post. I encourage many of my friends to come to the board, but I think newbies are quick to post a question (easy) without trying to search here for the answer (harder). When I was younger and I needed to know how to spell a word, if I asked my mother (easy), should would instruct me to "sound it out and look it up" (harder). Needless to say, I learned much more the harder way and could ask her the more difficult questions later. I think it is important that newbies do just as you suggest - search first, ask specific questions later.
tallsop, Read my post on the "newbie exam"....it'll help explain the old timers' patient frustration with newbies. Doing credit repair yourself is a process...not recommended for the impatient.... do a little homework (the newbie exam will point you in some directions) and then asks questions that you haven't been able to find the answers to in older posts. hope this helps. clc
