Okay, I'm new to this and have tried to scroll through some old post, but the credit "lingo" sounds like a foreign language to me. I hope someone can give me some advice... I need to apply for credit-based graduate student loans in December and my current credit score is 575. There are 4 potentially negative items on my reports. Verizon Wireless---past due Providian credit card---150 days past due Volkswagen credit---30 days past due The above are due to loss of job because of Katrina. All accounts were recently paid in full and are now up to date. However, the Verizion and Providian paid accounts haven't posted to the credit reports and, therefore, may be the cause of my low credit score. I called all creditors to ask if they could remove the negative remarks and they all declined. They stated that they could only report the account as being "paid". What can I do to get the negative remarks moved? I also have a negative item from Dec 2003----- Ford Credit---30 days late in Dec '03 How can I get this removed? Help! Help! Please. Is it possible to get my credit score to a 650 from a 575 in 4 months? Any advice would be greatly appreciated. Thanks.
I'm not sure that you will be able to get the "paid" accounts changed that quickly. Once you pay them, there is no reason for them to delete or improve the trade-line. Next time, try a "pay for delete" and make sure you get it in writing prior to paying them. As far as the "FMC-30 day late" notation, have you disputed it as "never late"? Were you actually late?
late payments Yes, I have disputed all of the accounts with negative remarks. I was honest and explained that I was late due to Katrina and the loss of my job, moving, etc. As for the Ford Credit negative remark from 2003, I disputed and stated that I was late because of changing jobs and school, basicallly hard times. I guess I screwed up by admitting that they were in fact late payments. What do I do now?
You are unlikely to get them removed thru some clerk thru normal channels. Removing a single 30 day late, possibly due to problems with mail, would have been easier to get. FCBA might also have been applicable, if delivery of billing statements was impacted. There was a big flurry of articles about the credit impact of Katrina when it happened, with various statements by some companies that some consideration would be given for payments late due to Katrina, but that just passed. Since this is Katrina related and since they are paid in full, for the Verizon and Providian lates, you might try a good will letter to the executive offices. At least they potentially have an interest in your future business.
thanks Thanks so much. I'm going to call and write a letter. When I call, who or which department do I ask for? So if these two negative remarks are removed, how much could my score increase?
Write to their dispute addresses, they will be directed to the proper people. Also, you may have better luck if you separate the disputes and only dispute one or two things per letter. I had tremendous luck with doing this. I have had many TL's corrected or removed since filing our bk in Oct., 2005.
You can add a comsumer response to your credit report explaining the late..or negative payments. This site might help http://www.allaboutcreditreports.com/CorrectYourCreditReports.cfm
