Help > here's my equifax report

I'm going to try - but keep in mind that I have a poor memory and I'm not looking at your report in front of me as I type this (LOL - I'm getting old).

I honestly didn't see much wrong w/ your report. You have many closed/paid accts - so those aren't effecting you right now. Why are you disputing the info on the few that say you are?

One thing I noticed is that you have a couple of accounts that your balance is very close to the limit - that takes a couple points away. Also make sure you never let it go over the limit. If you have in the past, thats one reason why your score may have gone down.

It also seemed like you have several credit card accounts with balances. If I were you, I'd try to pay off the small ones & have them closed. Then if you have anything that can be consolidated, try that - then close the ones you pay off. That way you have fewer accounts w/ balances.

I didn't see anything that was past due currently (unless I looked at it wrong) - except something from Sprint (was it?). That was the one w/ the small amount (?). If that were paid I'm sure it would look a little better.

A few of your accounts were new - opened this year (am I right?). Once those accounts age a bit, your score will go up as well. It just takes time.

Anyway - I probably didn't help much.....but I tried.

 

Dude-

I'll bet the "reason codes" on your score report are:

Collection reported (Two collection accounts (Ameritech + Gulf States)

Not paying as agreed (chargeoff (FNANB)

Percentage used too high (60% utilizations on revolving accounts [incl. the authorized user one - take that out and your utilization is even higher]).

Not much you can do until those three are removed.

You also have a finance company (Mercury) reporting - that supposedly lowers the score.

-mj

 

Collection Accounts

Client: Ameritech New M Account Number: XXXXXX Date Reported: 05/2001 Amount: 62 Balance: 0

Balance Date: 05/2001 Last Activity:03/1999 Date Assigned: 08/1999 Collection Status: PAID

Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: CBC National Collections
250 E Town St
PO Box 18317
Columbus,OH 43218-0317
Status Date: 05/2001 Note: CONSUMER DISPUTES-REINVESTIGATION IN PROCESS
************************
I always make them take the "CONSUMER DISPUTES type of notations off. That's why I never dispute an item with the CRAs. The fact of dispute probably does not affect scores, but I make them take it off anyway. Just don't look good to be showing a bunch of disputes on your credit report as far as I can see. General Principles type of thing. Anyway, I get a large charge out of FORCING them to do stuff.
************************

Credit Information

Company Name Account Number Date Last Type of Account High Items as of Date Reported Date and Whose Acount Opened Activity and Status Credit Terms Balance Past Due Reported
------------------------------------------------------------

First North American National XXXX
INDIVIDUAL ACCOUNT 11/1994 08/1995 Revolving
CHARGE-OFF $500 613 $0 06/2001
Prior Paying History
30 days past due 00 times; 60 days past due 00 times; 90 + days past due 01 times;
CONSUMER DISPUTES-REINVESTIGATION IN PROCESS
CHARGED OFF ACCOUNT

I'd force them to take that one off too.(dispute notice) ------------------------------------------------------------

Gulfstate Credit SPRINT COXXXX
JOINT ACCOUNT 09/1997 Open
120+ DAYS PAST DUE $197 $197 $197 05/2001
Prior Paying History

COLLECTION ACCOUNT

Well, run Gulfstate off and make them take it off your credit report. That way you don't have to fool with the credit bureau. Playing footsie with the credit bureaus is about like butting heads with a goat until you get rid of Gulfstate. Then it's no problem because Gulf State has to take it off for you. Of course, I help them out a little bit after they agree in writing to take it off.
No use leaving these things to chance. ------------------------------------------------------------

Lasalle National Bank XXXX
INDIVIDUAL ACCOUNT 03/2001 06/2001 Revolving
PAYS AS AGREED $12690 99 $12676 06/2001
Prior Paying History

CONSUMER DISPUTES-REINVESTIGATION IN PROCESS
HOME EQUITY

Another dispute notice to get rid of. ------------------------------------------------------------
US Bancorp XXXX
CO-MAKER 09/1995 01/2001 Installment
PAYS AS AGREED $12097 257 $1959 01/2001
Prior Paying History

CONSUMER DISPUTES-REINVESTIGATION IN PROCESS

Yet another dispute to get rid of.
If you don't, you are gonna look like Rooster Cogburn, fighting with everybody.

 

If it was for a car or other large purchase, it will look good. If it was for a new TV or other small purchase, not so good.

 

Bill,
Any advice on how to remove finance co. accounts?

 

They are no different than any other kind of report.
You first go after the creditor and make him get rid of the listing and then be nice and help him out by sending a copy of his letter to you telling you that you don't owe the debt and send that to the credit bureau along with your demand that it be removed.

It has to happen then. The credit bureau must report the truth and the truth is that you don't owe the debt and the creditor just said so in writing.

 

Pray tell, how do you go about "make him get rid of the listing "? You often elude to this in your messages, but never actually tell us how...or do we need to buy Credit Wrench to get that secret?

 

I'm afraid so.

but basically, it works like this.

In all normal situationjs, the debtor owes the debt and has little if anything to argue about in that regard. He must somehow get the creditor/CA to thinking about something else other than the the fact that he is trying to collect a debt by whatever means available to him and onto some other topic of discussion.

From a debtor's standpoint, it would be much more desireable if the topic of discussion were how much the creditor might owe the debtor. If that amount might be even potentially as great or greater than the amount the debtor owes the creditor, then the topic of discussion has suddenly changed drastically.

And of course, the amount that the creditor might potentially owe the debtor is going to depend upon how badly the creditor has violated the law and/or the debtor's civil rights.

Fear is a very, very potent weapon as the debtor usually knows full well. So let the creditor get a good solid taste of his own medicine and the old ball game suddenly has a new pitcher and a new batter. Basically, they just change roles. The pitcher becomes the batter and the batter becomes the pitcher. And when the curve balls start rolling in, the batter usually decides he don't like the game anymore and would rather opt out.

Of course, the debtor has to learn what the laws are in order to do that.
Either that or he needs to let someone do it who does know the laws that apply to collectors.
In otherwords, he has to know the FDCPA, the FCRA, the UCC laws, the FTPA and a few others.
Then he must analyze the situation and work to be sure that the creditor does obey the law.

It all boils down to one simple fact and that is that we are a nation of laws, no one is above the law and all must obey the law If they fail or refuse to do so then they are little more than common criminals and should be treated that way.

 

Bill,
Thank you for your replies. It is appreciated. But, my scenario is a little different. I have 5 paid Beneficial and 5 paid Wells Fargo Finance loans. None of the ten were ever late. I want them off because all three CRA's say that even though they were all paid on time and paid off it still hurts my scores. Can you shed some light on this? It just amazes me that if you pay on time and pay them off it is a negative.

Thanks

 

Now I gotta admit that that's one for the books. Might even take the prize at the county fair.

I think that there is more you have not told us about or you are getting your leg pulled big time.

I'm not gonna comment on that one much.
I've never heard of such a thing, it makes no sense at all to me either.
This ought to be a circumstance that will rock the roost.

Let's see what others have to say.

 

That makes me wonder what they are talking about specifically. The only thing I can think of is maybe you refinanced too many times (?) just a guess. Most other creditors don't like to see too many finance companies on a credit report because basically thats where people go when they have no where else to go for money. Not saying thats your case - but thats the trap alot of people get into.

Personally, I have a Wells Fargo acct right now. It was for furniture, and the furniture store just happens to use them. My score didn't go down as far as I know (I don't check it very often).

Once an account is paid - its just paid and there shouldn't be any negative effect on your score - given the fact that there were no lates on it.

Very interesting......

 

Ok!
Now it makes at least a little bit more sense.
I didn't notice the part about finance companies until it was just pointed out to me.

Been a long day so far.

 

HOW BAD DOES IT HURT FOR 10 ACCOUNTS?

Are we talking 10 points or 50 points?
10 points no big deal...50 points I would do something.

If it is a documented FACT, THAT YOU LOSE POINTS, you could say, "since FINANCE COMPANIES 'HURT' my F.I.C.O. score...even though PAID/NEVER LATE, when you remove my accounts from my credit reports, my F.I.C.O. SCORE will be helped tremendously".

 

George,
Man, I wish I knew how many points it really costs me. I guess we'll all learn a little in October, because that is when my Experian report says 2 of those lines will drop off. Do you think Experian, TU, and EQ will be willing to delete those tradelines based upon the fact they say it hurts my score?

Thanks

 

Try it, you have NOTHING to lose, only GAIN.