New To the board!

[Anonymous]

Whats up everybody... I've been searching on here for a couple days, and now I decided to post. Basically, like many people on here, I'm seriously trying to rebuild my credit. I have about 6 months till I buy a co-op and I need to bring my score up about 100 points before then! Basically, whats hurting me right now are the high amount used per each credit card. (Appx 80% of the limit on each one) and a judgment from the college library. From what I've been told, I'm paying each card down GRADUALLY. For some reason (so I'm told) its not good to pay it off in full. I have the money right now just sitting in my savings account and I'm going to pay the accounts down to about 10% of the limit over a 4 month span. Secondly, about the judgment from the school library. Is there any way for me to get this removed? I spoke to them and they said if I paid they'd remove the hold, but its still gonna be on my report right? Help me guys (and gals)... I'm desperate...lol.

[Anonymous]

I say pay them down over 3 or 4 months like you stated.
This will show a good payment history and reduces the chance of a CLD.

As far as the Judgment - try a PFD.

Message Edited by Timothy on 10-04-2007 07:38 AM

[Anonymous]

I am relatively new... What is PFD? Sorry!

[Anonymous]

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@Anonymous wrote:
I am relatively new... What is PFD? Sorry!

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yeah what is a PFD? lol

[Anonymous]

read the Credit 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=11303&jump=true

[Anonymous]

gotcha... thanks.

[Anonymous]

Ok heres the twist... I contacted the collection agency and they told me to pay it and they'll release the hold from my account and report to Experian and TU that its paid, but NOT remove it. I don't even owe them the money, I was just wanna pay it to get it off the report. So now I'm lost. I don't want to pay something if its not gonna be removed.

Should I contact Exp and TU directly to dispute?

Message Edited by Jay0heavenly on 10-04-2007 08:07 AM

Message Edited by Jay0heavenly on 10-04-2007 08:08 AM

[Anonymous]

Jay, I'm not sure if my experience I had yesterday will help, but here goes:

I have an old medical bill that was placed with a CA(collection agency). I was going for a PFD(pay for delete...off the credit report). CA told me that if I pay them in full, they will report to the CRA that it was pif'd, but cannot remove the collection item. Only the hospital which originated the collection could(the hospital has to tell collection agency to remove it from my cr). The hospital verified that they were, indeed the only one's that can do this.

So I began negotiating directly with the hospital. Yesterday I took them a cashier's check for the full amount, and in turn they gave me a duplicate original of the letter of instruction telling the collection agency that the acct. was paid in full, and to remove the derrog. item from my credit report. I will follow up with CRA next week to see if they have complied.

Hope this helps.

[Anonymous]

Yeah this helps big time... I've spoken with the CA directly and they are pretty firm on me paying them in full and then they'll send a letter to the school and record it next time when they report that its paid in full. But it'll still be on there

[Anonymous]

Jay  welcome, This thread,by Noah, will be helpful. It also has freq.requested thread full of info.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=38534

You can send a PFD to the OC (library) But they must send you an answer in writting!

Everything in writting!!!!!!!!  there is no proof if spoken over the phone.

NEVER NEVER talk to a CA!!!!!!!!!!!!!!!!!!!!

Message Edited by HappyDays on 10-04-2007 11:25 AM