Questions From a Noob

[Anonymous]

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@Anonymous wrote:
You will need to get a copy of your credit report directly from the bureau to see the real name of these agencies. And some will work with you some wont. When you see who they are post on here who they are, what they are for, and how much you owe and some of us will try to help you the best we can. Once you get these there are a few steps to take including some may need a DV (debt validation) and then you can start trying PFD (pay for deletes) this is where you say I will pay in full if you delete from all three credit reporting agencies permanantly. ALWAYS GET THE AGREEMENT IN WRITING BEFORE PAYING.

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^^ From another thread

Hi, new member....was just reading this and my ? is this....

Saying that you should get an agreement in writing....so we should write the company and not try to contact them via phone?

Also, how many out there has this worked for in getting the collection agency to delete them from the records on the 3 bureaus?

I was curious because I have 3 collections out there flagged (2 reporting on 2 bureaus, 1 reporting on 1) and I would like to take care of those as I have 3 accounts in good standing and am buying a home, BUT was turned down by Best Buy for their store card....

The real unfortunate thing is that I have a card through Capital and was mislead into believing I could use it just for gas and pay it off every month....problem is, the card is a $500 CL and I usually rack up a couple hundred on gas, leaving it above at least 40%....

Anyways, my credit is at 647 TU - 673 EQ 677 EX  and would certainly like to get it higher, BUT buying a new home, I would also like to be able to get something that I can finance appliances through....

Anyone have any thoughts?

Thanks in advance...

[IowaGuy]

When are buying the home? If it's soon, tighten up. Pay off the card and make sure it's paid in full before statement. Don't apply for credit, new accounts will only hurt in the short run. Work on those collections, maybe someone else can chime in on that.

I would rent for now and get another card or 2, keep them healthy and try for a home in a few years. Mortgage loan apps are like blood in the water for CA sharks. It's all about timing, and in the world of credit, time is on your side.

[Anonymous]

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@IowaGuy wrote:
When are buying the home? If it's soon, tighten up. Pay off the card and make sure it's paid in full before statement. Don't apply for credit, new accounts will only hurt in the short run. Work on those collections, maybe someone else can chime in on that.

I would rent for now and get another card or 2, keep them healthy and try for a home in a few years. Mortgage loan apps are like blood in the water for CA sharks. It's all about timing, and in the world of credit, time is on your side.

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So, what youre saying is that even if I have been fully preapproved, they really havent looked at the full picture?

And yes, I plan on it being within the next month or so....

I can pay down my cards and keep them below 10% thats no problem...heck, the one card was just for buying gas to raise my score anyways....

The good thing is, I have 1 card paid off and closed, 2 cards now that i have zero late payments, and a student loan that was paid off and on time every single month....

The only concerns would be the inquiries and collections listed.....

How do I get the collections removed ASAP if I can pay them off?

[Booner72]

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@Anonymous wrote:

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@Anonymous wrote:
You will need to get a copy of your credit report directly from the bureau to see the real name of these agencies. And some will work with you some wont. When you see who they are post on here who they are, what they are for, and how much you owe and some of us will try to help you the best we can. Once you get these there are a few steps to take including some may need a DV (debt validation) and then you can start trying PFD (pay for deletes) this is where you say I will pay in full if you delete from all three credit reporting agencies permanantly. ALWAYS GET THE AGREEMENT IN WRITING BEFORE PAYING.

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^^ From another thread

Hi, new member....was just reading this and my ? is this....

Saying that you should get an agreement in writing....so we should write the company and not try to contact them via phone?  Yes get them in writing.  Collection agencies will say anything to get you to pay.  This way if they don't you have a letter that you can use to get it off your reports if it comes to that.

Also, how many out there has this worked for in getting the collection agency to delete them from the records on the 3 bureaus?  I can say that I am one.  I have gotten 4 collections deleted since I started this process.  I did this by begging them to please help me.  I was able to get three removed from one agency just by asking on the phone and it was gone the next day (Though don't do the phone as I explained above).  It took me about 10 letters/emails/faxes/phone calls to get the other one removed - it was a phone bill that AFNI was collecting on.

I was curious because I have 3 collections out there flagged (2 reporting on 2 bureaus, 1 reporting on 1) and I would like to take care of those as I have 3 accounts in good standing and am buying a home, BUT was turned down by Best Buy for their store card....If you do get a collection agency to agree to delete, they will just delete from all of the credit bureaus they work with.  Some report to only one bureau, some 2, and some collection agencies report to all 3.

The real unfortunate thing is that I have a card through Capital and was mislead into believing I could use it just for gas and pay it off every month....problem is, the card is a $500 CL and I usually rack up a couple hundred on gas, leaving it above at least 40%....Well start using cash for gas and pay this card down.  FICO considers 40% utilization as very high (believe it or not).

Anyways, my credit is at 647 TU - 673 EQ 677 EX  and would certainly like to get it higher, BUT buying a new home, I would also like to be able to get something that I can finance appliances through....You should worry about the house first, and the appliances later.  I've read horror stories of people getting all the way through underwriting and at the last minute the deal falls apart because they bought new house stuff on their credit cards.

Anyone have any thoughts?  Good Luck!

Thanks in advance...

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[unlucky_hove]

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@Anonymous wrote:

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@IowaGuy wrote:
When are buying the home? If it's soon, tighten up. Pay off the card and make sure it's paid in full before statement. Don't apply for credit, new accounts will only hurt in the short run. Work on those collections, maybe someone else can chime in on that.

I would rent for now and get another card or 2, keep them healthy and try for a home in a few years. Mortgage loan apps are like blood in the water for CA sharks. It's all about timing, and in the world of credit, time is on your side.

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So, what youre saying is that even if I have been fully preapproved, they really havent looked at the full picture?

And yes, I plan on it being within the next month or so....

I can pay down my cards and keep them below 10% thats no problem...heck, the one card was just for buying gas to raise my score anyways....

The good thing is, I have 1 card paid off and closed, 2 cards now that i have zero late payments, and a student loan that was paid off and on time every single month....

The only concerns would be the inquiries and collections listed.....

How do I get the collections removed ASAP if I can pay them off?

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First thing is there is no way you can get the collections removed and your reports updated in a month or so. First you have to send a DV, then a PFD letter. That in itself will take 30 days each (then probably another 30ish to have it removed from your report if they agree to delete). If you dont mind me asking what are the collections for? ie. cell phone, cable, etc

[Anonymous]

Just a few hospital bills when I was out of work....

Nothing big, the largest amount is $50

[unlucky_hove]

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@Anonymous wrote:

Just a few hospital bills when I was out of work....

Nothing big, the largest amount is $50

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Oh those are easy to remove  check in the forum i told you about earlier, i dont even think you will need to do a DV.  There is another method you can try with medical bills but i cant remember what it is. I would just send a PFD letter to them but please dont take my word for it. It still wont happen in a month though.

Edit: I think i read creditors cannot see medical collections, but i dont know how true that is im sure someone else will chime in

[fused]

Welcome to the forums, braves!

I'm moving this thread to the rebuilding your credit forum.

--fused, myfico