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How long will it take to improve my credit

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Anonymous
Not applicable

How long will it take to improve my credit

Let me begin with my credit situation.

Eq: 605, 4 collections, 1 judgement
Tr: 636, 10 collections, 2 judgements
Ex: 626, 4 collections, 0 judgement

I have read about pay to delete (goodwill letters) and I am interested in them. On four of the accounts are low (under $500) and were placed within the past 2 years. The others are old and supposed to delete next year, problem is they should've came off my credit report this year but were sold and placed as new. I contacted the credit bureaus about them, but haven't heard anything.

Regarding the judgements. I live in California. They will be with me for 10 years, unless they renew. They are also supposed to be deleted from my credit report in June and October. I don't know if I can do a goodwill letter and pay a lower amount seeing as how they are judgements.

I am also a full time student and have a little over $24,000 in student loan debt. I don't plan on taking out another student loan, but it's listed as 13 installments on my credit report.

I also have 7 credit cards (limits: 200, 300, 300, 300, 300, 400, 500), and 6 store cards (150, 300, 300, 600, 600, 3000), and an authorized user on 7 credit cards. I have about 17 inquries because I just opened all those accounts this year. I have kept my limit at or below 10%.

My questions are:

1. What letter should I write to the collection agencies to lower how much I pay them, and have it deleted from my credit report?
2. How long does it take to have it removed?
3. How can I handle my judgements?
4. How much will my credit improve once the baddies are deleted?

I hope that gives a wholistic view on my situation.
Thanks

Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: How long will it take to improve my credit

Transfer of ownership should not affect the exclusion of a collection on the same debt.

I say "should not" in that I assume the new debt collector reported the same DOFD as was reported by the prior debt collector.

Credit report exclusion of a collection is governed only by the DOFD on the OC account.

When the new debt collector reported, what as the DOFD that they reported to the CRA?  If inaccurate, you can dispute.....

 

As for the relatively new collectorons, are the debts still within SOL?  If so, you might give then priority to avoid legal action.....

Message 2 of 3
Anonymous
Not applicable

Re: How long will it take to improve my credit

2013. 

Message 3 of 3
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