The Son Of Credit Scoring 101

Aug 192010
 

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A little advice about score diff?

Jun 272010
 

Hey there just here with a few questions.

 

Just a little background.

 

My bf (common law) and I sat down in March 2010 and pulled my first stream of CR’s because he wants to buy a house next year. I had 5 major derogs and only one semi healthy account.

 

  • I have a Capitalone Charge off of 1300.00,
  • A collection from BOA because I closed my account illegally some time ago because I was in a bad relationship, it bit me in the butt!
  • 60 days late on Macy with only a 100 dollar limit. (good excpet for the 1 60 days)
  • An Att Charge off 
  • 100 Dollar charge off from Union Bank of California

 

Now in March with a TU score of 551 and a EQ score of 523, I can only assume that EX is “somewhat” close to TU because they have the exact same data line for line, even the inquiries, which are 0! :smileywink:

 

Since March 2010:

 

  • I had the ATT Collections removed, dissputed
  • BOA collection removed PFD
  • paid the Capitalone Charge off, will try to GW, but will probably not have success.:smileysad:
  • disputed the UBOC and came back verified but will dispute directly with the OC come July 1st because I know it isn’t legit
  • disputed the Macy 60 day late removed off of TU and EX, but not yet EQ, still in dispute.

 

My bf who has pristine credit except for one charge off (6 years ago) only on the EX report because while he was in dispute he was conned into a small payment on a fraudulent account (bad bad boy!), and it came back verified, but they deleted off of TU and EQ so those scores are popping! He added me to 4 of his credit cards out of the 10 he has, all with 0.00 balance except for one and generous credit limits, and a 4 year clean payment history since my AAoA was 4 years (I’m learning), I have no installments, or auto. Since all of that madness happened my TU score went from 551 to 645, and EQ 523 to 586 from March 2010 to now.

 

I have a 59 point difference between TU and EQ reports because the data is not quite the same. I have only 2 AU accounts listed with EQ from my bf and 4 accounts listed as AU with TU, and the 60 days late is still on the EQ, and removed off of the TU, and one Inquiry on EQ and zero on TU. Do you think that combined is causing such a big difference in the points? Especially the two Chase accounts that are reporting on TU and EX but not yet EQ, will they ever report on EQ? He just added them late last month. I know the single inquiry is hurting me, with my bf last inquiry that fell off his score went up 16 points! May not get that much, but I know it should be worth more just 5, I would hope! HAHA!

 

FYI, they are real FICO’s got them from here, but had a bugger to get my TU QM to update.

 

Thanks for the input.

Fixing my credit, anybody want to review my plan, and give me ideas

May 072010
 

First off, my Fico score (Equifax) is 660.  Its better than I thought it would be. (and equifax doesn’t have data on my current credit card, which I have never missed a payment on in 2 years, so my other 2 scores are probably better)

 

Here is the Bad:

DRS/Bonded collection sys

Amount owed: 65.00

Placed for collection 3/2007

Date of removal 4/2013

 

Portfolio Recovery

Amount Owed 1,388

Date for collection 11/2007

Date of removal 5/2013

 

Chase-Charged off as bad debt

Will be removed 4/2013

(This was sold to portfolio recovery, Above)

 

The first thing I am trying to do is settle the 65.00 amount.  I sent them a certified letter stating that I would like to ‘pay for delete’.  If they accept it(in writting), I’ll gladly pay it, and follow through to make sure its deleted. 

 

The second thing I did was file a debt validation with Transunion.  (over chase and portfolio recovery). 

 

————

I still need to send a dispute validation to Equifax and Experian.  Should I send it directly to the creditors as well? 

 

My plan with the 65.00 amount is if they will not PVD, I would file a dispute validation with them as well.  If that comes back positive, do I have any other options?  I have no problem paying the debt, I just don’t want to loose any leverage.

 

Since Portfolio recovery is a bigger company, are they usually willing to PFD?  If so, what percentage of payoff do you think they woud offer?

 

Do I have any chance of getting the data from chase removed.  Since they have sold the debt, they have no reason to work with me, so I don’t have any ideas what to do when the DV comes back.

 

Also, I’ve read that you must submit a DV within 30 days of first contact.  I haven’t heard from any collection agents in 2 years, or so, does that make me ineligable for DV?

 

 

 

removing old address

Apr 262010
 

After reading these forums i understand it is a good idea to opt out and remove old address. I understand CRA usually requires copy of driver licence to prove the new residence. My question is when i update the information on my driver licence record, does it also show on my credit report? I understand our data are sold to data miners, then resold to CAs. I am trying to prevent automated matching of addresses but i do not understand the point if the CAs can do a simple inquiry and get the new addres as well. Thanks.

Dear Experian, WHAT?

Apr 192010
 

I received this from Experian (re: Pre-HIPAA letter, unless I’m mistaken)

 

“If you question the results of our investigation, then you may want to contact the data furnisher directly.  Please refer to your original presonal credit report for the business name, address, and phone number (if available) of the source that verified the information.”

 

I had sent them a letter about a judgment previously, and had received a response about needing positive ID (and a huge list of what they required for that).  Since I received this response after I had sent them my pre-HIPAA letter, I re-sent the pre-HIPAA letter with the ID requested for the other item and I included a note saying that this was not a request for re-investigation, but rather the proper ID required along with a copy for convenience. 

 

Should I be expecting another response? This seems like a non-response, but upon typing it out, it seems like maybe what they are saying is that their information is from the parties listed on my CR, and that they aren’t going to give me the information requested in the pre-HIPAA letter aside from that.  Is this a standard response to the pre-HIPAA letter?

Suggestions/Tips/Advice Regarding Lexington Law Credit Repair

Apr 132010
 

I’m slowly but surely on the road to building my credit.

 

I ruined my credit when I was in college with the following factors which are still haunting me till this day.:

- late payments on credit cards.

- Medical bills going over to collections.

 

Recently, I had a collection account with Capital One Credit Card which states I was delinquent for 150+ days, but I also have a high interest rate Capital Auto Loan ( they’re making lots of money off of me)  with a history of no late payments.

 

My Dad suggested I sign up for Lexington Law Credit Repair.  I don’t know if I should fork over the $99 initial fee and $39.99 monthly maintenace fee.

 

I tried to figure out how to do things on my own but I had a difficult time mining thru the plethora of data on the net and coming up with a step by step action plan.

 

I’m a little overwhelmed with the data out there and have the slighest idea of where to start.

 

In a sidenote, I did negotiated a Pay To Delete letter with M.N.Kay Law which increased my score nearly 35 points.

 

Thank you. 

 

 

CA finally says I did pay them.

Apr 132010
 

Well, 57 days after paying them the CA finally agrees that I did pay them.  When I asked what happened, why did it take so long for you to agree that I paid?  I was told, “Well sir, it was a hiccup in the internet. These things happen.”  The guy I talked to sounded just like Eeyore.

 

Being an IT Professional for over 15 years I can tell you that these don’t happen.  If the data is there now it was there 57 days ago.

 

On other things…

Thanks so much to all who post here. I have learned so much.  And my scores have increased an average of 70 points in the last 60 days!

 

Thanks again.

 

Craig :smileyhappy:

judgment question – is this a valid way to proceed?

Mar 092010
 

I do keep going over and over what I should do about my judgment issue – I found this posting somewhere else (excerpt)

 

“If you have a RECORDED judgment, get a CERTIFIED copy from the Court. Examine it very carefully for ANY discrepancy between what is on your reports and what has been recorded.
If you find a discrepancy, or if you find that you have NO actual recorded judgment, you can send the following dispute letter to the CRA’s.

Dear CRA,
My name is xxxxx xxxxxx , my SS # is xxx xx xxxx.
I am sending this dispute certified mail # xxxx to make sure you receive it.
My report # is xxxxx.
There is no such judgment of record # xxxx from this Court for this date for this amount from this creditor.
I have certified documentation from the Court that supports my dispute of this erroneous entry on my report.
If this entry is verified, please send me the name and address of the provider or furnisher providing this data, and the manner in which it was provided in order that I may pursue additional legal remedies.

Very truly yours,

xxxxxx “

 

It goes on to say that you’ll probably get a canned response about their investigation – then you contact the court to find out their CRA reporting procedures to demonstrate that they aren’t actually reporting to the CRAs and then:

 

“You then send another letter (CM but not RR) to the CRAs along with a copy of the letter from the court house……..demanding that they delete the judgment immediately. Stress that you ARE NOT disputing……..but demanding deletion of the public record and request an updated copy of your report.
**Be sure to send all of these letters Certified Mail!! It’s very important you have a paper trail/proof of correspondence.“
 

 

Does this sound on the level?  I mean, the premise is that you do request deletion on the basis that you found inaccurate information (which I did – the courts are both listed incorrectly) and that the CRAs aren’t ultimately investigating properly.  This, of course, is separate from the issue of dealing with the OC. 

Message Edited by mauve on 03-09-2010 09:54 AM
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