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What happened after disputed items are deleted??

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katrinalbsn
Contributor

What happened after disputed items are deleted??

I am in the process of rebuilding my credit. I have disputed some couple items on my credit report and two were removed.

 

What I would like to know is if there is a chance that they can reappear on my credit report?

 

Also, what would be my best action to raise my credit scores?

 

Transunion 646

 

Equifax 631

 

I recently paid all 4 of my collection accounts off. On my credit are 4 credit cards with at total balance of about $1600 that I pay in full monthly, Car loan for 28000 and Car loan 41000 (pay ontime monthly), and Student loans 28000 (not in repayment yet).

 

My goal is to get my score above 700. I want to purchase a home and want to get a really good interest rate.

Message 1 of 4
3 REPLIES 3
MarineVietVet
Moderator Emeritus

Re: What happened after disputed items are deleted??


@katrinalbsn wrote:

I am in the process of rebuilding my credit. I have disputed some couple items on my credit report and two were removed.

 

What I would like to know is if there is a chance that they can reappear on my credit report?

 

Also, what would be my best action to raise my credit scores?

 

Transunion 646

 

Equifax 631

 

I recently paid all 4 of my collection accounts off. On my credit are 4 credit cards with at total balance of about $1600 that I pay in full monthly, Car loan for 28000 and Car loan 41000 (pay ontime monthly), and Student loans 28000 (not in repayment yet).

 

My goal is to get my score above 700. I want to purchase a home and want to get a really good interest rate.


Welcome to the forums.

 

One thing you can do is get those collections removed from your reports. A collection is a major negative whether it is paid off or not.

 

What is the utilization on those cards?

 

Optimal credit utilization for FICO scoring purposes seems to be:

Total revolving utilization > 0 and < 9%, the lower the better, and
Reporting a balance on less than half of your revolving TL's, and
Reporting a balance on half or less of all TL's.

Message 2 of 4
katrinalbsn
Contributor

Re: What happened after disputed items are deleted??

Thanks for your response.

 

Before I paid the collections I requested a pay for delete and every single one of them said they don't do that and most collection agencies won't do it.

 

I'm not sure what you mean by utilization. I have been using my credit cards monthly and paying them in full every month. That is how I paid off my collection accounts. Now that they are paid off, I don't plan on using but one each month for gas and paying it off every month.

 

How long does it take for collections to fall off? Does the date restart from the date they were paid? Thanks

Message 3 of 4
MarineVietVet
Moderator Emeritus

Re: What happened after disputed items are deleted??


@katrinalbsn wrote:

Thanks for your response.

 

Before I paid the collections I requested a pay for delete and every single one of them said they don't do that and most collection agencies won't do it.

 

I'm not sure what you mean by utilization. I have been using my credit cards monthly and paying them in full every month. That is how I paid off my collection accounts. Now that they are paid off, I don't plan on using but one each month for gas and paying it off every month.

 

How long does it take for collections to fall off? Does the date restart from the date they were paid? Thanks


Since these collections are paid you'll need to write GW (Good Will) letters asking that these collections be removed. If this is not successful then the collection will remain for 7.5 years from the DOFD (Date of First Delinquency). The credit reports for Experian and Transunion you can get for free from www.annualcreditreport.com will have the drop off dates for every account, or should. Some folks say they don't always list all the accounts.

 

Utilization is found by dividing your total balances by your total credit limits. Utilization of revolving credit accounts for 30% of your total FICO score so it is very important to keep it as low as possible. I believe most people here suggest keeping your util between 1-9%. Also try and let less than half your cards report a small balance each month. As backward as it might sound you might actually take a small hit to your score if you show a zero balance on every card each month.

 

Your plan to use only one card a month for a small purchase is a good one. Remember to let that balance report on your statement (to show utilization) and then pay in full before the due date to avoid any finance charges.

 

 

 

 

 

 

Message 4 of 4
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