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Hello everyone, I have a couple of questions and hope I could get some advice. I am starting the process of rebuilding my credit, I have late payments from both my student loans and credit cards which has basically crippled my credit score (a beautiful 441) I have recently sent in my payments for June which will arrive on time for this month, but does that start a new " on time" payment history? And also should I send in any GW letters to the companies, ensuring my seriousness to pay my debts and if so could I ask them to remove my late payment history? Any advice would be helpful for a woman trying to get on the road to Excellent credit.
Thankyou,
montysma.
hang in there, I started rebuilding from the 300s and now I'm at or almost at 700. Took a few years but It is possible. But it takes time and energy. I have been disputing and paying things left and right, I can't count how much money I have spent paying back collections. I thought I was pretty much done with collections but found myself paying $900 yesterday to keep a new collection from posting to the cra.
If you start paying on time right now, then yes, you would be starting an ontime history. The old lates will remain on your report unless the creditor decides to do you a favor and clear it up. But most likely, they will stay. But from this point on, the longer you pay ontime, the longer your "good" history will be on open account.
I'm not sure about the gw letter, I have not tried to do those yet, I guess it wouldn't hurt to try though. Maybe I would wait a couple months so the creditor can see that you have turned a new leaf with a few months of ontime payments under your belt.
Thankyou for the advice i've been at least smart enough not to let anything new go to collections so I wised up there, Thanks again!
I would continue to make a payment on time after a few I would then send a good will letter.