high score, bad report?

[Anonymous]

I gave sprints collection agency half if what I owed and thry deleted it from my report without a PFD. I didn't KNOW about PFD at the time otherwise I would have done that. I feel pretty confident you'll be able to get rid of that one.

[Anonymous]

I was told the limits don't really matter bc they're looking at the percentage of the limit you're using, but someone correct me if I'm wrong

[redbeard]

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@Anonymous wrote:

According to myfico.com reports. I have 19 accounts in collections, of these 10 are credit cardsand the rest medical. I also have an old sprint bill and 2 accounts from verizon. One of the verizon wireless accounts i just finish paying off but waiting to update. Most of the cards show a 0 balance and only 4 of them are showing payment history. The payment history looks really bad though, i see equifax reporting late 90 day 70 times and experian 26 times. Seeing as though 35% of my score is payment history should my main focus be to try and pfd those card showing the negative payment history first? I have tried pfd before but midland, and portfolio wont budge. Also would increasing the limit on my secured cards are even adding a couple more secure cards help?

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If you have open collections and/or chargeoffs on your report, getting more cards or higher limits won't help your score.

Unfortunately, this is where reality sinks in.....

Your report is screaming at would be creditors that you don't pay your bills, unless you want something.  This is evidenced by 19 accounts in collection.  Don't take this as a judgement, many of us have been there, but you really need to focus on this area if you want to get your bike.  To be honest, your credit score doesn't matter when you have open collections, especially if they go over a certain dollar threshold.  For many creditors, this is an automatic decline..... Not all, but from experience, I can say that you can get in the door with a credit score, but then have the door slammed in your face due to open collections.

Start working on these.  Pay for Delete is awesome.  If not, settle for however little you can get by with.  

Credit improvement doesn't happen over night, but it does happen.  Get a plan together and start working it.

Dan

[Anonymous]

How do closed collections look to would be lenders? Are they forgiving ? I have 2 that are open that I could pay but I wanna trying to convince them to PfD before being stuck with em for another 4 years

[Anonymous]

From my experience, open collection looks horrid. Closed looks a tiny bit less horrid. Paid closed looks better on manual review. I think I had 14 closed collections when I bought my car. I had to put 10% down, and take 24% interest right up the tail pipe. I had exactly zero choice, as my car died a quiet, unassuming death on the way to work one day. I commute an hour each way, so I had to have a car.

I managed to convince myself that I was actually paying 12-14% interest until about a week ago. Then I finally hauled out the loan docs and faced my sad reality. In February of next year, after 12 on time payments, I am going to beg, plead, grovel, and offer to exchange kinky sexual favors to my CU in the hopes they will refinance with a less brutal interest rate. 

[cartwrna]

At a 24% interest rate, even with 10% down initially, I'd say your loan is upside down. You may have to sweeten the deal with some down payment cash.

As far as collections, I have one open unpaid for 1k from 2013 and I'm able to get excellent rates on loans. My car carries 1.49%, my truck 3%, and my motorcycle 3%. I could refinance the truck down to 1.49% but would need to shorten the loan length and take a higher payment. I'm content with the 3% due to the loan note already costing me $608 a month (45k loan).

[Anonymous]

So, kinky sexual favors won't work? Well crap. I am fully prepared to hand over some cash too, if need be. I must be the only woman in the world that reverse prostitues... but that 24% has GOT to go!

[Anonymous]

define kinky

[Anonymous]

In my mind, open collections are worse than paid collections, and both are worse than negative accounts, which include charge-offs.

So my priority is as follows:

1) one stupid ancient open collection, which I offered a fractional PFD on. No worries if they say no, I can wait. It's not enough for them to bother with a lawsuit. Or if they want full payment for a PFD I'll take it.

2) using whatever tacticts necessary to get paid collections removed from the report. GW, then DV, then dispute.

3) work on converting negs to positive. If you have one that's only negative because of one or two months of lates, try getting the creditor to revert those and turn the account into a positive.

I've already had luck getting a couple of things deleted and reported more positively.

[Anonymous]

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@Anonymous wrote:

define kinky

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50 Shades of Paid.