collections question

Jan 042011
 

I have 11 old collections on my report(ALL THE SAME COMPANY IC SYSTEMS), half of which will drop this summer, the rest early next year. The total amount for all is less than $1000. I also have utilization of 95% right now, which I will pay down to 1 or 2% next month. The rest of my report is great, all cards paid on time always. I am wondering how much impact the collections have, as I am hoping to have a decent score after the cards are paid off, but am worried it will still be poor due to the collections. Any ideas?

boost fico

Jun 102010
 

I am working on rebuilding my credit and was wondering which i should do.  A secured cc for $1000.00 or a secured loan for 1000.00 or would it not matter? I need to work on rebuilding payment history and also need to improve my score as I work on other items on my credit report (c/o, old collections etc.)

 

 

Payments made on time

May 142010
 

I have paid all my revolving/installments loans on time for the past 10 month. Ive also paid off some old collections and got them deleted off my report. Why haven’t my credit score reached the 600 mark yet. From the month of March it was 570 April 587. What do I have to do. Please someone give me an answer

16 point hit ouch

Mar 302010
 

So I was checking out my  TU CR and I noticed a 16 point drop. I was at 657 and now 641. The only things that have changed are my cc util. has gone from 4% to 22%, an increase but still under the 35% that you penalized for going over and I have dropped two judgments. Have I been rebucketed? I wouldnt think so because I have two old collections from 2005 and still have 3 judgments on my CR dating back to 2005.  So I am curious about whats causing the drop.  All my recent activity is good with no lates.

Old Collections

Mar 182010
 

I am attempting to get a home loan and I am only 23 points away from being approved.  I only have a couple of old collections on my record but the last time I paid off several old collections it caused my score to go down almost 100 points and it took almost a year to get 1/2 the points back.  My lender recommened paying the collections only if the collector agreed to delete them once they were paid but the collector indicated they are not allowed to remove things from your credit record.  I do not mind paying these off if it will help my score but I can not risk my score dropping when I am so close.  Also are there any tips to get my score up just a little?

Equifax Luv!

Mar 032010
 

Ok, did a few requests for deletes with Equifax.  Old vacated judgments, a old child support collection, a couple other accounts that I wasn’t sure of.  The results all deleted and I looked over the report they mailed, myfico scorepower, and my CCT and 4 old tradelines additionally deleted. Just gone POOF!  Wow excited.  Unfortunately, I only got a 9 point increase because of old collections charge off all still there for another year.  All OC accounts:

 

HSBC charge off

BOA charge off

GMAC repossession/charge off

Capital One charge off

 

All DOFD 4/2005

 

Whomever did these deletes at eq must have been feeling sorry for me as We have so many baddies, lol. 

 

Just had to share,

Jen

 

When are old collection letters safe to toss?

Feb 252010
 

I have a problem with recordkeeping, and I have boxes of old papers.  Some of these are old collections that I may or may not have paid.  I have a pretty good idea of who is currently showing up on my credit report.

 

So if these are collections are NOT being reported, is there a certain date that I can consider myself safe from these collections resurecting themselves?

 

I am looking for one pacticular document right now, and I am just trying to get through years of jumbled papers, in no particular order.

So right now, I am just sorting into trash and “who knows” until the one document turns up.

 

I have lived in two different states, during my life. but I have been in my current residence for 15 years.

How to handle a medical debt

Feb 032010
 

Hello. Have been reading all (okay, most) of the posts concerning medical debts, HIPAA letter, etc. My eyes may be permanently crossed! I am so confused. Please reply in easy to understand terms on how I can settle this.

 

I went to an eye specialist in 2004. Obviously, insurance paid everything but $815. The amount that is showing on my credit reports just says medical collection, $1,125. Supposedly, the bill was sent to an attorney for collections and the difference was admin. costs, etc. In Dec. 09, when I paid out the majority of old collections in order to raise scores/start fresh, I called doctor’s office listed for the service to speak to office manager to try and settle account. Never could get a call back from her. Called back a few days later, got someone else who told  me account was under a attorney office. Called them, explained issue, was told that the amount was only the $815 and that I should just pay the dr. office. Isn’t this a discrepancy that can be disputed from my reports? Tried to call back to the Dr. office and the office manager would still not answer or return call. What do you do when they won’t try to assist you? Does using the HIPAA letter/process apply to my situation? This is the ONLY medical collection left( paid out one smaller one). Didn’t have a lot of collections, just a few old ones.  Also what is a PFD letter and what is it used for?

Credit Card Activation

Jan 272010
 

Hi, i have a question about credit card activation. My credit isn’t so good right now (mid-high 500s a month ago), but thanks to the people on this forum i’ve been working hard the last month. I’ve gotten 3 PFDs and 4 GWs, and alot of old collections will fall off this year. All that being said, I applied for a First Premier credit card (before reading about them on this forum, unfortunately). I just got the card yesterday in the mail. I haven’t paid them a dime so far. The paperwork that comes with the card says I need to pay a $30 fee to have access to the $300 credit limit. Does this mean if I don’t pay the $30 that I can cut the card up and throw it away? The “bill” i got in the mail (seperate from the card) says I owe $75, for their annual fee. When i called them, I got a recording that says if i don’t pay the $30, that my card offer will expire in April. I’m just worried that they will bill me for the $75 annual fee, even though I haven’t used it, and it will show up as late on my credit report even though I never activated/used the card. I don’t want to call them and talk to a person, because I assume they will lie to me to get me to pay them the $30. Should i just say screw it, pay the $$ and NEVER use the card? Just to have a credit card show on my credit report? I also have an Orchard Bank card coming in the mail (unsecured) and hopefully a Citi secured card. Sorry this was so long-winded!!!

 

Ryan