topic Re: Advice/Opinions in General Credit Topics

Advice/Opinions

Anonymous — Thu, 20 Dec 2007 00:53:07 GMT

Hi all! Hope everyone is ready for Christmas ( I haven't even shopped yet ).

I just want to ask a few ?'s

The other day I asked If I could just rely on my EQ, as I have really started bringing it up. I live in the south, and most use it here. But I have decided to finish focusing on my EQ, then once it is an 850 ( lol ) j/k ) but better than it is now, then focus on the other to really mean, unforgiving, pain in the butts. EX and TU

I have went from 5 good accounts, 14 collections, 22 inquiries, and a judgement to

6 good accounts, 7 collections, 4 inquiries, and NO MORE Judgement!!

With the path I am on, does anyone see the light of a 600 in my near future? If I PFD, or just pay off these last 7 collections will that do it? Or will just time and good payments from now on be my only hope?

The land of that 600+ sounds sooo sweet. I have had dreams about it. lol

I can't imagine what it would be like to apply, and receive more than apply, deny.

Thanks to all my fellow Fico addicts. I too must listen closely too the footsteps nearing my office, and keep a trigger finger on the minimize tab

Happy Holidays

Re: Advice/Opinions

SmartCookie — Thu, 20 Dec 2007 00:56:37 GMT

I think with getting rid of those 7 that are left and optimizing your new good accounts... you're going to whip thru the 600's.

Congrats on the progress, very nice!

Re: Advice/Opinions

Anonymous — Thu, 20 Dec 2007 01:00:58 GMT

Thanks Smartcookie. Will the fact that I have no old accts hurt?

The good accts are:

1 car loan 3 months Paid as agreed

2 student loans 2 years paid as agreed

1 CC act 1 month paid as agreed

1 child support acct 9 yrs old but paid in full and closed

1 furniture acct paid as agreed and closed.

and a couple of auto's paid off, but never kept over 8 months.

Re: Advice/Opinions

Anonymous — Thu, 20 Dec 2007 02:56:03 GMT

Nobody else

Re: Advice/Opinions

fused — Thu, 20 Dec 2007 03:48:32 GMT

jps37033 wrote:

Hi all! Hope everyone is ready for Christmas ( I haven't even shopped yet ).

I just want to ask a few ?'s

The other day I asked If I could just rely on my EQ, as I have really started bringing it up. I live in the south, and most use it here. But I have decided to finish focusing on my EQ, then once it is an 850 ( lol ) j/k ) but better than it is now, then focus on the other to really mean, unforgiving, pain in the butts. EX and TU

I have went from 5 good accounts, 14 collections, 22 inquiries, and a judgement to

6 good accounts, 7 collections, 4 inquiries, and NO MORE Judgement!!

With the path I am on, does anyone see the light of a 600 in my near future? If I PFD, or just pay off these last 7 collections will that do it? Or will just time and good payments from now on be my only hope?

The land of that 600+ sounds sooo sweet. I have had dreams about it. lol

I can't imagine what it would be like to apply, and receive more than apply, deny.

Thanks to all my fellow Fico addicts. I too must listen closely too the footsteps nearing my office, and keep a trigger finger on the minimize tab

Happy Holidays

How old is all of this bad stuff?

Re: Advice/Opinions

Anonymous — Thu, 20 Dec 2007 03:55:50 GMT

Thanks for the reply Fused. It is all at least ( this is original date of opening ) 3 yrs old. Some of them are reporting as revolving, open, and over limit. Is that legal for a medical collection or other random collection that is not an original revolving to do that? I have read that some CA's will report as a revolving open to keep it on there and hurt you? Looking forward to your advice on score increase and what to do. Thanks again,

Jameson

Re: Advice/Opinions

fused — Thu, 20 Dec 2007 04:37:37 GMT

jps37033 wrote:

Thanks for the reply Fused. It is all at least ( this is original date of opening ) 3 yrs old. Some of them are reporting as revolving, open, and over limit. Is that legal for a medical collection or other random collection that is not an original revolving to do that? I have read that some CA's will report as a revolving open to keep it on there and hurt you? Looking forward to your advice on score increase and what to do. Thanks again,

Jameson

Are you saying that you have non-revolving account collections reporting as revolving? If so, this is inaccurate but it's probably not hurting your scores because collections being reported by a CA are NOT suppose to factor in FICO revolving utilization calculations. Do you know your FICO scores? Do you know your state's SOL? If no, check the links below.

http://www.fair-debt-collection.com/statue-limitations.html

http://www.bankrate.com/brm/news/cc/20040116b2.asp

Re: Advice/Opinions

drvbasic — Thu, 20 Dec 2007 05:55:03 GMT

My best advice is to never be late. And dispute EVERYTHING....even if you were late or even if the judgement is yours and you paid it or the collection you paid it just dispute it...reason being alot of times when things are paid the collection agency doesnt verify and they dont care because they have their money so just keep on disputing and also write GW and talk to customer service and give them a good story and you may get some removed that way...I got a bunch of my old lates removed like that. and finally most important thing NEVER EVER be late...

Re: Advice/Opinions

Anonymous — Thu, 20 Dec 2007 13:49:40 GMT

I disagree with this advice-

You should always know the best and worse possible outcomes of disputes.

Disputing valid lates can easily backfire.

@drvbasic wrote:

My best advice is to never be late. And dispute EVERYTHING....even if you were late or even if the judgment is yours and you paid it or the collection you paid it just dispute it...reason being alot of times when things are paid the collection agency doesnt verify and they dont care because they have their money so just keep on disputing and also write GW and talk to customer service and give them a good story and you may get some removed that way...I got a bunch of my old lates removed like that. and finally most important thing NEVER EVER be late...

Re: Advice/Opinions

drvbasic — Thu, 20 Dec 2007 18:10:45 GMT

Timothy why would it backfire?

Re: Advice/Opinions

SmartCookie — Thu, 20 Dec 2007 18:14:52 GMT

drvbasic wrote:
Timothy why would it backfire?

Sometimes you dispute a 30 day late and the the creditor gladly updates your account with 5 more valid and worse lates that for some reason never got reported. Things like that.

Re: Advice/Opinions

fused — Thu, 20 Dec 2007 18:37:23 GMT

drvbasic wrote:

My best advice is to never be late. And dispute EVERYTHING....even if you were late or even if the judgement is yours and you paid it or the collection you paid it just dispute it...reason being alot of times when things are paid the collection agency doesnt verify and they dont care because they have their money so just keep on disputing and also write GW and talk to customer service and give them a good story and you may get some removed that way...I got a bunch of my old lates removed like that. and finally most important thing NEVER EVER be late...

Your advice is bordering on unethical credit repair. I agree with some of the others about disputing, bad things can happen. Good trade lines disappearing and new bogus lates appearing.