I'm still kinda new at credit repair and need to know how to proceed. I want to raise my fico but only have 1 open trade line that is a loan and my fico on trans union is 511 and equifax is 484. I have about 2500 worth of bad debt written off for collections one of which is a public record that I am making payments on each month and it will be completely paid in full in Dec of this year, on the other 2 trade lines I need to know how to proceed do I call them and offer a settlement or is it better to pay the entire amount showing even though the amounts are now 4xs higher than the orginal amounts owed. I really want this behind me and most of all I want to improve my scores. So far I have made both TU and EQ aware of all errors on my report they had the public record reported along with the orginal creditor (providian) both showing on the credit report. I also reported all auth user accounts be removed from my report (they were spouses and am trying to clean that up as well). Any suggestions?
Okay, let's summarize your reports: 1 "good tradeline (loan) showing no "lates or negatives"-correct? 1 Public Record for debt - Judgement? will be paid by 12/07 2 Charge Offs for credit cards? To start, you done the first two steps correctly, you've pulled your reports, reviewed them, and appears you have entered disputes with the credit reporting agencies. Have you pulled your Experian report as well? To start, review your reports for old addresses, "FKAs", etc. Mail written requests to have this old information removed. They only need your current address and your last previous address (if current less than five years). Next, you need to deal with the "Charge Offs", at this point I would imagine they have sent numerous letters, numerous calls, etc. How old are these accounts? When did you stop paying on them? You need to know to see if these are still legally collectable. As to your credit report and these paying these accounts, it really has no effect on your FICO score. It will look better to a creditor if you have paid, or settled. I recommend that you pay these debts, if you are able, and request a "Pay For Delete" from the collection agency. Tell them you will pay in full if they remove it from your credit report. If they refuse, then pay the settlement offer they have most likely given. Right now, take it one step at a time. Clean up any old information on your credit reports, and deal with the collections that you have out there. Try to negotiate a "Pay For Delete" to get them off your reports. Then you will have to try and build some more open credit. Stay on the boards, and we'll work with that later. Let us know how you do.
When asking for a pay and delete do I do it in writting or verbal? And do I do it with the OC or CA? From what I've read here I need to get it in writting correct? Thanks so much)
