I have just started to fix my credit and I need some help because I do not know what some of the things mean that are on the report my rating right now is 544 and I really want to improve it as much as possible is there any hope for me....????charge off account------account closed/transferred-----revolving????? what do all of these mean and what do I need to do to take care of them and what can I do to get items off my report that are no longer under my name they were under me and my ex-husband but now they are under my ex-husband and his new wife is there somethiing I can do to have it removed and last question I had a student loan that I was behind alot on and had it refinanced but the old one is still on my report what do I do to take it off it shows account transferred/sold... I am lost please find me!!!! DX
Charge off account means that the account had an upaid balance which the creditor reported a loss and charged off the debt Account transferred/Sold would mean that the account was bought by another creditor, refinanced, etc.. Revolving accounts are accounts such as credit cards, department stores, etc. No fixed monthly obligation or term of loan (Installment) such as auto loans. I may be wrong but I don't see how a joint account between you and your ex husband relieves you of any responsibility to the account due to divorce or remarriage?
I am still lost what do I need to do to remove or fix these bad debts I know I really sound stupid but please help me...
debts are sears that I had with my ex and washington mutual finance also with my ex and i have ---bealls and mervyns that I always paid on time and are both now closed for like 3 yrs or something and are showing up as revolving pays as agrees but it is showing as negative on my account I dont understand?????? DX
What credit agency report did you pull? Something in the B&W account must be negative? Are Sears and the other account charge offs? When were they charged off?
You could ask for validation of the Sears. See the sample letters on this site. You could dispute with the credit agency as not mine, or other inaccuracies. They have 30 days to verify or delete.
In a divorce, the court may order one party responsible for certain debts. If that party does not pay, the creditor can still come after you. Then your only recourse is to sue the other party.
I kinda understand but the creditors no longer have me as a listed person on any of the accounts can i still be responsible if i was removed since 98... I once was lost but now i am found was blind but now i see......DX
To help understand what your getting involved in, I found good explanations here: http://www.faircreditmovement.org/index.html I've found that Creditnet is much more useful once you know what the problems are and what you need to do about them. Try to determine what you need to do then come back here and search for things like "charge offs" etc.
DX How do you know the creditors don't list you on any accounts? Is your credit file blank? If an account shows up on a credit report with your Social Security number then those accounts belong to you. FU-TU
Your statement is incorrect. Just because an account has ones SS# certainly does not mean the account is yours! I will even go you one further: Even if an account is shown as yours it still does not prove you owe the amount claimed on it!
Someone could have applied for something with your SS# or you could be the victim of mistaken identity. Someone with a name the same as yours and similar birthdate might have bad credit and it got placed on your file. Just because it is there does NOT mean it's yours. The second part: Capital One might be your account but they say you owe $1500 when in fact you actually only owe $150. Look for errors with dates, amounts or other items when checking reports, then you have a valid "dispute". Hope I can help some and not further confuse you (as I stay confused)
