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New Contributor
2IMPROVE
Posts: 72
Registered: ‎07-03-2007
0

REBUILDING CREDIT QUESTION

I have the following new accts
 
BOFA VISA 2000 LIMIT since 2/07
HSBC VISA 300 LIMIT  since 4/07
HSBC MC    750LIMIT  since 6/07 (not on reports yet)
TARGET      200LIMIT since 6/07 (not on reports yet)
JC Penney  150LIMIT since 6/07 (AU USER) on experian and equifax
 
 
FAKO Scores  thru TrueCredit
 
TU 598 EXP 569 EQ 575
 
I just received a pre-approved HSBC Amex offer with the min credit line of $1000.00.  Not sure if I should except the offer.  Please advise if I should apply, and if this is too many cards to have.
 
On my credit report:
  • Mortgage-Current for the past two years
  • Car-Current for the past two years
  • 3 IRS released liens
  • 2 Charge Offs
  • 2 Paid Collection Agency Medical Bills

I will be applying for a home loan soon and need my score to increase.  Thanks

 
 
 
 
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007
0

Re: REBUILDING CREDIT QUESTION

Well to be sure, keep your utilization of CCs down below 10% moving forward... Continue to pay your mortgage timely... Those new accounts will need to age for a few months, but you have plenty of new accounts to get the ball rolling.
 
Try a couple of GW letters to the paid collections see if they can be removed... If not try to DV the collections all together (they can't report what they can't validate.) Then take a look at the COs and see whether or not they are reporting accurately... If not dispute for innacurate info.
 
Good luck and keep your head up.
 
Looks like you're moving in the right direction.
 
Rob
New Contributor
2IMPROVE
Posts: 72
Registered: ‎07-03-2007
0

Re: REBUILDING CREDIT QUESTION

Thank you.  The CA's is NCO/MEDCLR $30.00 that I paid directly to them 5/06, the other is NCO/Fin $199.00 that I paid to the hospital after it went to NCO/Fin.  I asked the hospital when I paid it can they remove it from my report and they said once it goes to NCO/Fin their was nothing they could do.
 
I read the GW example letters but don't know how that would work with NCO.  Do you think writing a letter to NCO requesting removal will work.  I tried asking over the phone but was told they can only report as paid.
 
Don't know if anyone has had any success with them.
 
I am currently in dispute on one of the CO, it is showing on EX as "now paying was charge off" then it shows "ok" Aug-Dec 06, then Jan, Feb 07 "ok", Mar, Apr 07, "ok", and May 07 as CO.
 
The last pmt on this acct was 2002. 
 
Is this the creditor or EX??
 
 
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: REBUILDING CREDIT QUESTION

refute NCO as paid to CO.
It is my understanding that if the CO takes your money- the CA is SOL ($hit out of luck) as the CO still owned the debt.

2IMPROVE wrote:
Thank you.  The CA's is NCO/MEDCLR $30.00 that I paid directly to them 5/06, the other is NCO/Fin $199.00 that I paid to the hospital after it went to NCO/Fin.  I asked the hospital when I paid it can they remove it from my report and they said once it goes to NCO/Fin their was nothing they could do.
 
I read the GW example letters but don't know how that would work with NCO.  Do you think writing a letter to NCO requesting removal will work.  I tried asking over the phone but was told they can only report as paid.
 
Don't know if anyone has had any success with them.
 
I am currently in dispute on one of the CO, it is showing on EX as "now paying was charge off" then it shows "ok" Aug-Dec 06, then Jan, Feb 07 "ok", Mar, Apr 07, "ok", and May 07 as CO.
 
The last pmt on this acct was 2002. 
 
Is this the creditor or EX??
 
 




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