Credit score of 581. Can I get a loan?

[Anonymous]

Hi,

Mine is different case. I was in usa from 2003 to 2009 june on employement visa h1b. I had good credit score while i was in usa. I paid all my dues and i closed my auto loan as well. I came to US again on new h1b in march 2015. When i tried to check my credit score i got shocked as it was in poor with 581. It is showing one open credit card KOHLS/CAPONE which is open and charged for USD 214. I really not aware of this card. As i was out of country for more than 5 years they reported as charged off. Now i want to go for auto loan. Is there any way i can pay the amount and delete this record from my credit report? Pls advice.

Total outstanding is USD 214.

Thanks,
Vas

[MarineVietVet]

Hello and welcome.

I split your post to form a new one here. I had to edit the title, but changed nothing else. If you'd like to change the title, click "Options" and then "Edit Message"."

[Anonymous]

---

@Anonymous wrote:

Hi,

Mine is different case. I was in usa from 2003 to 2009 june on employement visa h1b. I had good credit score while i was in usa. I paid all my dues and i closed my auto loan as well. I came to US again on new h1b in march 2015. When i tried to check my credit score i got shocked as it was in poor with 581. It is showing one open credit card KOHLS/CAPONE which is open and charged for USD 214. I really not aware of this card. As i was out of country for more than 5 years they reported as charged off. Now i want to go for auto loan. Is there any way i can pay the amount and delete this record from my credit report? Pls advice.

Total outstanding is USD 214.

Thanks,
Vas

---

@Anonymous,

Welcome to MYFICO. Since you are on H1B,  I'd call CAP 1 and explained to them to see if they will be willing to delete once you pay based on your "circumstances".  Also, to get an auto loan, you are going to  get a very high interest rate based on your score unless you are willing to wait for 6 months - a year.

What I will do if I were in your shoes is immediately get secured cards to start re-establishing some sort of credit history to show lenders...  

[Anonymous]

I would suggest the dispute route for KOHL's. There is a lesson to be learnt here that if you are going to be away for a long long time that you FREEZE your credit bureaus.

I have friends whose job assignments were over here that came on H1 Visas and have been targets.

Seems like you are a victim of fraud? There are many avenues if you really did not own that card ever.Start by filing a police report in the county/city you lived in between 2003-2009.

Secondly, i get a free annual credit report and call bureaus and verify information. The bureaus will want to identify your information and put a fraud alert on your file.

Your choice whether to allow that.

By having the KOHL"s card tradeline deleted there is every possibility that your FICO scores will rise. (be better than 500's).