Hello people,im a newbie am 27 years old and recently decided to repair my credit after 9 years of bad decisions,now im here in hopes to get some good advice and support from yall folks.First thing i did is get my credit reports.The scores seem a bit off(still waiting for equifax score in the mail) Apparently on Experian i have a 563 w/5 negative reports in collections i owe about $1,900 there.Now with transunion i have 6 collections accounts and 2 negative credit lines that went also in to collections due to fail pay in 2007,but get this,for some reason transunion score is giving me a score of 2,according to their chart 515 is very low,so my 2 must be like very very low.Does this sound right?BTW i managed to score 2 secured cards(opensky & sdfcu)both $300 CL,and a fingerhut credit line which i might not use after all (their products are 3 times its retail price)..any suggestions?
Welcome Flash. Yes, first job learning credit repair is to read read read. Then plan. Then the plan must be executed on schedule without lapses of communication or effort on your part. Here's a great place to start reading: http://consumers.creditnet.com/Discussions/credit-talk/29734-intro-psychdocs-credit-repair-primer-8.html#post211028 As you're learning and planning I'd pay particular attention to your statute of limitations (sol) since you have some older accounts - you will want to take care you don't restart that sol clock since its already run about 7 years. Again, welcome.
