Just got first CR, have questions Just got the first credit report (online via WorthKnowing). Here's a summary: 1 revolving (What is this?) 2 Installment (Balance $10,745, this is for my car, not sure what the other is) 1 Charge (What is this?) # of accts in collection: 12 (5 have a $0 balance?), the rest total $2516. There are 4 hospital bills, I video place, and one phone bill. The big one is my former bank for $1065, which shows a balance date of 11/01/1996. Delinquent accts: -12/1/95 (an old apt. I lived in - w/a roommate, my wages got garnished for the full amount!) Balance as of 3/1/98, $1200, showing as revolving/Closed (We lived in the apt in 91/92) -PG&E $205 Balance as of 11/1/00, showing as charge card closed $205 -CA Student Aid 11/1/95, $0 balance as of 07/01/99, showing as installment closed $0 Also show 1 civil judgement from 10/1/01. What do you think? Where do I begin?
Re: Just got first CR, have questions Start with the two oldest ones - dispute with CRA's as out of date if it has been 7 years, pick some detail to dispute, or "not mine."
Re: Just got first CR, have questions jeri- revolving means- an account you can carry a balance on... i.e. a Visa, Mastercard... open (or often referred to as a charge card) is when the entire balance is due in full each month. i.e. American Express green card.
Re: Just got first CR, have questions Not to be dense, but exactly what do you mean when you say dispute? (Call, write, email? What do I say?) Sorry for asking such basic questions, I have been reading a lot of posts, but I am very new at this and I'm in bad shape... Thanks!
Re: Just got first CR, have questions You can call, write, or dispute via the CRA's website. If any derogs are over 7 years old, and still reporting, you could just call those disputes in. If its more complicated (such as an account reporting late when it really wasn't, and you have proof). If you do write be sure to send certified return receipt requested (CRRR). If you dispute online, be sure to print out the the dispute page showing the date you initiated the dispute.
Re: Just got first CR, have questions Right - on the website there is a link that says something like "are there errors on your credit report?" and it tell you what to do. If you got your report by snailmail, there is a form with it for disputing - just use that - fill it out and mail it back. I would try one or two at a time until you see how it goes. If you use mail, send it certified, return receipt mail so you have the date they got it - they have 30 days to answer your dispute. go read the who page at http://mix6.com/credit It will explain the process.
Re: Just got first CR, have questions Breeze, Thank you so much for the web site link. The sample letters there are great and as I have just found 2 negatives(that are the only 2) on my credit report that are not accurate these letters will help me immensly. I was totaly distraught when I found them thinking there was nothing I could do. Thank you again, Frustrated
Re: Just got first CR, have questions What if you have no proof, dispute it anyway? I take it that most everyone disputes negative information even if it is right? I would not mind doing this but could I setting myself up for trouble if I do?
Re: Just got first CR, have questions Disputing information on your credit report that you know to be correct is a moral call. If it's something that you "believe" is incorrect, go ahead and dispute it with the CRA. You do not always need proof. Sometimes the creditors reporting the derog info. will just not respond within the alloted timeframe (30 days from date of receipt of dispute ) and the CRA will delete. Even if they do respond and verify, wait at least 30 days after you receive word they verified, then re-dispute, some have had success getting adverse info. deleted on their 2ND or 3RD attempt in the dispute process. If you're mailing in your disputes, be sure to send CRRR. If you're doing it online, be sure to print out copies of pages that show date of when you dispute.
