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Established Member
Posts: 21
Registered: ‎08-23-2007
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Advice badly needed!

My scores are: EX - 564 EQ - 584 TU - ?? I have 7 collections from 2000 to 1-1-2002 (bad times) & 2 judgments from 2003, paid. I know this is really bad. I don't have a credit card, paid it and closed it in 2002. Didn't know it would be a good thing to leave it open. I was never taught about credit and have not always paid my bills well. In the past 5 years, I have kept bills paid, but just do not have credit, except a student loan & mortgage. Cars were purchased after saving the money, just don't have anything except baddies now. What can I do to improve my credit, when I can't get credit? Thanks for any replies.
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Posts: 5,436
Registered: ‎03-10-2007
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Re: Advice badly needed!



kmm72471 wrote:
My scores are: EX - 564 EQ - 584 TU - ?? I have 7 collections from 2000 to 1-1-2002 (bad times) & 2 judgments from 2003, paid. I know this is really bad. I don't have a credit card, paid it and closed it in 2002. Didn't know it would be a good thing to leave it open. I was never taught about credit and have not always paid my bills well. In the past 5 years, I have kept bills paid, but just do not have credit, except a student loan & mortgage. Cars were purchased after saving the money, just don't have anything except baddies now. What can I do to improve my credit, when I can't get credit? Thanks for any replies.

 
Try a secured credit card to start.  Bank of America  has a decent one though you may have to start with Orchard or something.  What ever you do, stay away from the high app fee, high annual fe and monthly maintenance fee card like First Premie.

Established Member
Posts: 21
Registered: ‎08-23-2007
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Re: Advice badly needed!

Thank you for the advice! 
 
When the old collections start to fall off, will this raise my score?  Should be coming off in September of this year and January / February of next year. 
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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Re: Advice badly needed!



kmm72471 wrote:
Thank you for the advice! 
 
When the old collections start to fall off, will this raise my score?  Should be coming off in September of this year and January / February of next year. 


How long ago did you file?  the old baddies hsould start falling of the date of last delinquency plus approx 7 years from the date they went bad.  Did you file 7 years ago and just haven't started rebuilding yet?

Established Member
Posts: 21
Registered: ‎08-23-2007
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Re: Advice badly needed!

The only date on the CR for the old collection accounts (3 of them are duplicates) is the date open, which all are from 1/1/2002 & 7/1/2001 & 9/1/2001.  I disputed the duplicate accounts in February 2007, EQ took the duplicate ones off, but EX said they were verified.   I applied for a Cap 1 rebuilder (poor credit) cc and was denied and suggested that I try a prepaid card (on line)  Aside from this one request, I haven't even tried to get a cc.
 
I have a student loan that had late payments on it in 2004 & 2005, I thought I would right a GW letter to them to request the negative activity be taken off, since I have been on time for so long.
 
Also, I have a old mortgage (began 2001, sold house 3-2007) that has 2 late payments from 2005 one 30 days & one 60 days.  This mortgage was paid off with the sale of that house.  I have a new mortgage (3-2007) that is not reporting yet.  All payments have been on time.  I thought I might try a letter to the old mortgage, since it is paid off and the last 2 years of it were paid on time, to see if they would take the negative activity off. 
 
 Do you think this will help improve my credit?  Also, what kind of letter would I right to the old mortgage?
 
 
 
 
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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Re: Advice badly needed!



kmm72471 wrote:
The only date on the CR for the old collection accounts (3 of them are duplicates) is the date open, which all are from 1/1/2002 & 7/1/2001 & 9/1/2001.  I disputed the duplicate accounts in February 2007, EQ took the duplicate ones off, but EX said they were verified.   I applied for a Cap 1 rebuilder (poor credit) cc and was denied and suggested that I try a prepaid card (on line)  Aside from this one request, I haven't even tried to get a cc.
 
I have a student loan that had late payments on it in 2004 & 2005, I thought I would right a GW letter to them to request the negative activity be taken off, since I have been on time for so long.
 
Also, I have a old mortgage (began 2001, sold house 3-2007) that has 2 late payments from 2005 one 30 days & one 60 days.  This mortgage was paid off with the sale of that house.  I have a new mortgage (3-2007) that is not reporting yet.  All payments have been on time.  I thought I might try a letter to the old mortgage, since it is paid off and the last 2 years of it were paid on time, to see if they would take the negative activity off. 
 
 Do you think this will help improve my credit?  Also, what kind of letter would I right to the old mortgage?
 
 
 
 


 
There is a thread here about poor credit friendly card.  Try www.householdbank.com or www.orchard.com  they may offer a regular unsecured card or a secured card.  If you can get the mortgage to GW you that will be a plus. With the squeeze on credit recently it is getting harder and harder to get.

Established Member
Posts: 21
Registered: ‎08-23-2007
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Re: Advice badly needed!

Thanks Brammy!  I will send the GW letters & try to get a cc.  I appreciate you taking the time to give me advice.  Maybe soon I can thread back and say how my credit has improved thanks to this forum!
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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Re: Advice badly needed!



kmm72471 wrote:
.  Maybe soon I can thread back and say how my credit has improved thanks to this forum!


 
Don't worry, keep reading and you willSmiley Very Happy

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