over-the-past » Mortgage and Insurance

too many accounts unused in many years still on credit report

Mar 012011

One of teh negative factors affecting my credit scoreis that i have 45 different accounts. However most of these accounts were paid off and have not been used in many years such as leased car loans, some student loans, a gym membership that i paid off 8 years agoÂ or even some credit cards that haven’t been used in years.Â How do i get closed accounts off the report? How long should i expect that an account shows up?

Also there is a collections charge of $50.00 from a hospital bil back from 2006.Â I had no idea i owed them money, as a matter of fact i have been to that hospital multiple times over the past years adn they never told me i owed them money.Â How long does a Collections item remain on the credit report?

Thank you

Silvia

March 1, 2011
Posted by admin at 12:18 am
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Rebuilding Credit
account-shows, collections, credit, credit-cards, credit-scoreis, gym-membership, item-remain, multiple-times, over-the-past, report, some-student, such-as-leased, teh-negative, these-accounts

Asset Acceptance Victory !

Feb 122011

Â Â Never surrender…………….Â

Â Â Â Â Â Â Â Â Â Â Â Â Asset Acceptance has responded to several DV letters over the past few months but never truely validate.Â After beating my head on the wall I emailed the BBB ( waste of time )Â My most recent attempt was contacting the Michigan Attorney General.Â I mailed copies of all correspondance between myself and Asset Acceptance and filed a complaint that Asset Acceptance has not correctly Validated the debt.Â Â Â Â Here is the response from Asset acceptance to the Â Michigan Attorney General.

Dear Sir or Madam:

Asset Acceptance, LLC (AALLC) is in receipt of correspondence from your office, dated Jan.’ 4, 2011, concerning a complaint filed by xxxx xxxx. I have had an opponunity to review the consumer’s complaint. as well as AALLC’s applicable account notes and records.

Please be advised that AALLC s:nt out its first notice in December 0(2007 to Mr. xxxx

. indicating that he had thirty (30) days to ;ontaet our office if the account was in dispute. AALLC did not rec:cive anything from the consumer within that limeframe. His validation rights had expired. Nevertheless, additional infonnation was provided to Mr. xxxx.

AALLC’s

Additional documents are not readily available, based on the age of the account AALLC cannot conclude that the account is not owed by the consumer based upon the information provided. Nevertheless, in the interest of resolving this matter. AALLC has agreed to cease further collection efTotts and close the account.Â Â Â Â

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â AWESOME !!!!!!!!!!!!!!!

February 12, 2011
Posted by jedwan at 7:24 pm
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Rebuilding Credit
aallc, acceptance, account, asset-acceptance, Attorney, collection, complaint-filed, consumer, michigan, office, over-the-past, the-information, truely-validate, well-as-aallc

What to Takle First?

Jan 182011

I am in the proccess of tryingto clean up a few thing on my credit report.Â I have been suscefful at removing one 30 day late and have another 60 day late I am in the proccess of getting removed.Â My questions are about my student loans and collections accounts.Â The reason I am looking to clean my record is I want to purchase a house in the near future and would like to bring my score up to around 700.Â Currently I am closer to 600.Â One sure fire way to increase it is removing the late payments and paying off my current credit.Â I will have my credit card paid off next month, giving me 0% credit utilization.

So on with the questions, I originally had a student loan with Wells Fargo many moons ago.Â It got transfered around quite a bit over the past 10 years.Â I was not always the modle loaner, as I had difficulty paying during certain years.Â I am back on top of things and ready to get my debt eliminated.Â The problem I am having is everytime my student loan changed hands, the new lender made a mark on my credit report.Â Right now my loan is with ACS and is in good standings.Â I need to find a way to remove the tradelines that are paid off/transfered as the late payments on those are killing me.Â Does nayone know if this is possible or how to go about it?

Also I have a few medical collections, and most of them will be dropping off by the middle of this year.Â Would it make for a better score to pay off all my collections or would it only make a slight improvement.Â All of my collections will fall off my account at the begining of next year, and most of them are under $300 with the exception of one around the $3000 mark.

I am not sure how the FICO score is rated, so not sure which to go after first.

January 18, 2011
Posted by admin at 5:46 pm
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Rebuilding Credit
collections, credit, Credit Card, over-the-past, possible-or-how, proccess, student, Student Loans, tradelines

Where to start?

Dec 132010

I am a newbie here but you folks have got it going on.Â I have learned so much over the past couple of weeks just reading the threads.Just hoping someone might have some advice for me. Â I am not sure where to start so I will just spill it all out.Â I have been trying for the past year to get my credit score up.Â I did a terrible job of paying my bills 5-6 years ago and have been trying to dig out ever since.Â I won’t bore yall with the details but here is a snap shot of where I stand now.

ExperianÂ Â Â 612

TransunionÂ Â Â 599

EquifaxÂ Â Â 597

Since then I have had a couple accounts deleted that were over the 7 year age limit.Â

I have 6 medical collections I am trying to pay off. (I read somewhere that you can ask to pay the full balance and they may remove them, Is this correct?) How bad are they hurting me?

I have a AMEX that shows account closed by grantor 08/05. I paid the balance on 08/05.Â Is this still hurting me and how bad?

I have an old mortgage that was 30 days late several tiimes back in 2004 (Feb-July)Â Will this come off Feb 2011? The account was last active 07/06. If not Feb. when will it come off?

I had a credit card that I closed myself and paid off but it shows under paymentÂ “profit and loss’Â The first time I was late on it was 08/04,Â how long will it stay on?

I had a spiegel account that I closed and negotiated a settlement……it shows last active as 08/06 but the first time I was late was 09/04.Â When will it come off?

Heres the weird one….A US Bank card that was issued through employment……they withheld my last expense check for 90 days and although I tried to pay it, US Bank charged it off.Â I did finally pay all of it and it shows under payment as “profit and loss paid” It shows last acitve on 05/05 but closed on 12/06 and report on 01/07.

Now thru all this I used some consumer finance companies to pay some bills and have finally paid them off but they show multiple accounts on my report.Â All paid in good standing but on my report it says I have to many.

*Since Feb of 2010 I have not been even close to being late on any payments. My (1)mortgage, (3) car payments, (1) credit card payments have all been on time. (Although my credit card credit limit is $1000.00 and it has a $850.00 balance.

I need some advice as to where to start or if I even have a shot at getting my score higher till these stuff comes off.

Is there a program I need to enroll with to help?

Thanks in advance.

Â This probably needs to be moved to credit rebuilding but I do not know how to move it…..

December 13, 2010
Posted by jedwan at 11:15 pm
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Rebuilding Credit
account-closed, been-on-time, couple-accounts, credit, Credit Card, over-the-past, report, several-tiimes, spiegel-account

Is 6 months unrealistic

Dec 062010

Hi Everyone,

I finally bounced back from the depths of recession and got a stable job to be able to pay my debts. Here is the question/goal at hand.

I have had almost everything except my credit cards, student loans, and installment loans get charged off due to unemployment and hardship due to a divorce proceeding that ended in reconciliation.

Long story short, my credit cards are paid on time but are at high balances, my student loans are on deferement, my installment loans have had several lates over the past 2 years but have payments at least every two months until recently.

Currently with my new salary I have $1,200 in discretionary funds every month left over . FINALLY I am in the position to pay off the installment loans in about 3 months, credit cards the same. How do I handle my charge offs? I would like to see my score bounce back and be able to buy a house next summer. We were referred to a credit fixer by my credit union, but there is nothing to fix, it is all legitamate stuff.

I am honestly seeking your advice on how to maintain a score increase if I will no longer have any open debt. I am in a hurry to pay my installment loans because I have 13 actual months left, but contractually, I should have them paid off by Feb 2011.Â Hub and I are dangling at low 400s. :smileysad:

December 6, 2010
Posted by jedwan at 3:44 pm
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Rebuilding Credit
cards-the-same, charged-off-due, credit-cards, dangling-at-low, finally-bounced, from-the-depths, installment, over-the-past, score-increase, student

Cleaning up…but still have a couple of questions

Nov 232010

I appreciate all the advise received on this forum…seems I’m making two steps forward, one step back as I progress, but it’s still progress I suppose…

I have a couple of items on my CR that I’d like to throw out there and see what folks suggest:

Three (3) major items on CR right now that are impacting scores significantly:

Capital One (two accounts, both listed as bad debt/collection on all CRs; balances of $1966/$1660)

CR Details:

Neither account has been sent to a CA, but CapOne continues to update CR monthly with additional interest.Â This results in DOLA being current and, from what I understand, continuing to hurt my scores.
Both accounts show balance TU, but no 30/60/90 day lates (weird).
Both accounts show balance on EQ with all 30/60/90 appearing.
CapOne has offered two (2)Â options: settle for apprxÂ $500 total reduction to both debts ($1680/$1425) and pay immediately OR 6 month payment plan to PIF.Â TheyÂ state account will cease to accrue interestÂ ifÂ 2nd option is chosen, but will appear at the end as ‘Charge Off account/PIF.’

So, the questions…

Which of these options will have the lesser impact on credit score?
How long will the recommended option take beforeÂ I start to see score recover?

HSBC (1 account, shows status ofÂ ’Payment after charge off /collection’ with all CRs showing $0 balance and no late payments)

I have been contacted by the CA offering a settlement amount close to 50% of total balance.
CA is not showing on any of the CRs at this time.

I’d like to take care of this one, also, but I’m concerned as soon as a pay the CA, both HSBC and CA will update CRs with ‘settled’ and it will end up hurting scores more than helping.

Any recommendations on these items?Â I’ve improved from mid/upper 400s over the past year, but I can’t seem to break the 600 threshold…it’s driving me crazy!Â But from what it appears, these are the three (3) that are holding me down.Â I’m very curious what score impact occurs when we go back and reconcile these old debts…

Thanks for any suggestions, advice or direction anyone can provide!

November 23, 2010
Posted by jedwan at 8:25 pm
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Rebuilding Credit
accrue-interest, break-the-600, hurting-scores, listed-as-bad, over-the-past, recommended, still-progress, time

Capital One Secured Credit Card Question

Nov 222010

Hello! My credit is honestly shot for a while. I applied for a Capital One Secured Credit Card and was approved. I opened the account with $1,000.00 and plan on using this only for bills that I would normally pay with my debit card. I will pay bills with it and pay off the balance in full each month (actually as I charge on it). I do not want it to report a balance so I am paying the balance weekly. I just applied for the card in October. Received the card 3 weeks afterwards. I have score watch and still no alert for a new account. I know that it may take a little while before it reports and that is expected. I have used the simulator and it says that it will not increase my score. My equifax score is 482 and transunion is 492. I know it will take some time rebuilding. I am working on collections and other issues. I also have a crown jewelers account that I never used as I know the $2,500.00 limit only shows for 6 months and then drops to $500.00 so I am being wise about when to use that.

Anyways, I would like some feedback on other that have started out with a Capital One Secured as far as the length of time it takes to “unsecure”. I have heard that Capital One never unsecures and I have also heard that they do unsecure and send deposits back. Can anyone help me with this?

Also, I applied with Wells Fargo several times over the past few years for a secured card and they have declined me everytime. And that is my personal bank. I have 8 checking/savings accounts with them for myself and daughters and they will not approve me for a secured card. I currently applied with B of A and was alsoÂ declined for a secured card. I recently opened a checking and savings with B of A as I heard thatÂ they areÂ ”credit friendly” toÂ their account holders.Â Not sure if this is true or not but thought I would give it a shot.

November 22, 2010
Posted by jedwan at 5:43 pm
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Rebuilding Credit
account, balance, Capital, card, never-unsecures, over-the-past, personal, recently-opened, secured-as-far, secured-credit, simulator, time-it-takes, wells-fargo

Paying off old debts

Nov 062010

Over the past few months (and especially in Sept of 2010)Â I paid off multiple old debts.Â I know that this ‘starts’ the reporting over again on my Credit Report and can hurt it initially, but that the lowered balances (almost all of my bad debts are now down to 0) can help my FICO scores greatly.Â I have yet to see any improvement in my scores and was wondering if anyone else has paid off old debts and how long it was before any improvement on your score was seen?Â Any help would be greatly appreciated!Â Thank you!

Wejo

November 6, 2010
Posted by admin at 6:07 pm
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Rebuilding Credit
credit, credit-report, lowered, multiple-old, over-the-past, paid-off-old, past, Reporting, scores, the-reporting, your-score

Litigation Threat

Oct 232010

I have a collection for a broken date 5/2007. I have tried several times over the past three years to negotiate a lower payment,but I was denied.Today I received a letter that stated ‘We are prepared to recommend that our client pursue this debt through more intensive efforts.”They threatened litigation.Is there anything that I can do?I don’t have that kind of money.

October 23, 2010
Posted by jedwan at 8:08 pm
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Rebuilding Credit
broken-date, client, debt, debt-through, lower-payment, more-intensive, our-client, over-the-past, past, past-three, several-times

Status suddenly reads "foreclosure/repossesson" on a credit card?

Oct 202010

WentÂ through a DMP to pay off credit card debt over the past 36 months.Â Paid off the first card last month.Â Up until now, the status was “paid on time” for the last three years.Â (I run my CR every other month with MyFico).Â Now that that card got paid off, all the sudden it says “36 timesÂ 90 days past due” and is listed as a foreclosure/repossession.Â How is that even possible?Â It dropped my credit score from 718 to 636.Â I wanted to throw up.Â It really bothers me because now I only have $430 of TOTAL debt, everything has been paid on time for 36 months + but it looks like I have bad credit.Â By December, I will have ZERO debt (no CCs no auto, no loans, no nothing) and I want to buy a car and I’m afraid I won’t be able to, or I’ll get some horrible APR.Â

October 20, 2010
Posted by jedwan at 8:39 pm
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Rebuilding Credit
because-now, credit, Credit Card, Credit Score, first-card, month, over-the-past, paid-on-time, past, really-bothers, sudden-it-says, the-status

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