paid off all cards!

Mar 152011
 

Woo hoo, we just had a financial windfall through inheritance and immediately paid off all credit cards, how long does it take to show up on the credit reports/scores. And then each of our cards has a credit protection on them, which is incurring at least a $5.00 and + charge per month.  should we call and ask those to be removed?  We will not close the accounts but are cutting all but the couple of oldest ones.   We purchased the monthly score watch, and Suze Orman’s package. Any guidance would be appreciated as we don’t ever want to “go there” again,,,,,,,,,, thank you, thank you, thank you!

Question about lates

Feb 122011
 

I am just wondering what happens to an account after the last late falls off? Does the whole account fall off or does it remain on the credit report longer?

Student Loan Feedback

Feb 072011
 

Does anyone that has a deferred student loan happen to know or be keeping track if it is affecting the fico score? In other words, is a deferred student loan treating the credit report the same as if it were not deferred?

Secured Card Question

Feb 032011
 

I have a secured credit card with my credit union since December of  09.Today I requested it to be unsecured and was denied because of two collections from 07 &  08,which was on my report when I applied in 09.My history with the credit union is perfect,is there a letter I can send them to reconsider?

Please help this newbie with disputing latenesses on CR…

Jan 292011
 

Please inform me on how to begin the disputing with the credit bureaus and credit card companies….Also on using goodwill letters since I know much of my lates are valid…Step by Step please, I am a newbie :)

 

Should I hire a repair company?

Reporting Question

Jan 192011
 

Here is a another question I have been wondering about:

 

If banks and CC companies report at end of month can I just make sure balance is zero by reporting date then use the credit for the rest of the month?  I have a 5k line of credit with my bank that is also hurting my utilization.  If I just pay this off at end of month but then use the credit from beginning of month again will it be reported?

 

Sorry such basic questions, just learning.

 

Thanks

Adding Authorized User on my credit card

Jan 132011
 

Does any one know if the credit bureaus will report the payment made by an authorized user of my primary cards — I did supply the social security for this person.. My spouse

I have read that FICO 08  eliminated this they called it “piggybacking”  we are both trying to get credit established at same time..

 

Fake Judgment

Jan 132011
 

The other day I received an alert from the credit monitoring system, that showed a civil judgment reporting by Recovery Partners LLC.  So I went down to the court house and they had no records of judgments or pending judgments on me.  So I went to the other 2 surrounding district courts and they said the same thing.  How should I proceed?

Time senstive: Charge off – Sears CBSD – debt sold to LVNV funding/Sherman/Resurgent

Jan 062011
 

 

Here is the scenario I am facing:

 

 On December 2010 Sears/Citibank South Dakota(CBSD) charged off my credit card for non-payment. We should have kept track of this no-interest for 12 months credit card, but its just one of those stupid mistakes. Credit card statements kept going to the wrong address and we for some reason thought we had made the payment. Just a combination of things, but yes, we made a mistake and did not even realize that we owed the money until we got a call from the collections guy about 10 days back. What a shock that was!

 

Sears CBSD charged off the card and reported to the credit bureaus. Subsequently they sold the debt to Sherman/LVNV funding/Resurgent group. And GC Collections has been assigned the task of collecting on this payment.

 

Here are my questions:

 

1. Sears/CBSD is the OC and has reported to the credit bureaus with the balance at $4,000 (fees, interest etc bumped  up our original due of $2,500). I read somewhere in the forums that when there is a charge off the balance is usually reported as 0. Is that true? If so, why is Sears CBSD charging the $4,000. Does that mean that they are still holding the debt?

 

2, LVNV has not reported as yet to the credit bureaus. When does LVNV or any other debt purchaser for that matter start reporting to the credit bureaus? Is it at the end of 30 days of the debt purchase date?

 

3. Now that LVNV has yet to report to the credit bureaus, is there any way i could nip it in the bud? I suppose I could accept their settlement of $2,500, but there is no proof that they are now the owners of the debt. Also, what kind of safeguards should I be taking before I send the money off to them?

 

4. What about the original charge off negative item on my credit report? How do I get that off my report? If I pay LVNV off, would they be able to delete this entry posted by Sears CBSD off my credit report?

 

5. I am thinking my strategy at this time would be to ask LVNV for DV and then send them a PFD since I assume by them they would have posted a negative item on my credit report. I am kind of confused and feel like I should be doing something before they post the negative item to my credit report, but I am not sure what approach I should take.

 

Your responses are eagerly awaited. Fico Forums rock. All of you seem so knowledgable and this collective attitude to help one another is really great. Thank you people……….

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