Dont know where to start.

[alessandrom]

I want to help my DW rebuild her credit .  she has 3- 90  late reporting on experian  as well as 1- 60 and 1- 30. she also has about 15 lates within the student loans how can these be deleted if possible?  dont know what to do really want to help her. She made some mistakes in the past but shes doing a whole lot better now... she also has a charged off from capital one and two collections. I was able to put her as a AU on all my ccs so she has positive tradelines reporting and her scores did go up but still very poor. her debt to credit shows as 112% and has 9k in student loans. Dont know what to do Please help and thank you for any posts.

Edit: We live in new york and it was to my understanding that paid collections get removed after 5 years. If thats the case if we get the collections paid off will they remove them automatically from her report? they have been reporting for over 7 years. What about the late payments and charged off>? does this rule apply to all of this as well?

[Jaxavier]

Negative information can report up to 7 years from the date of first delinquency. I'm not familiar with any state law in NY that supersedes this, but if she has accounts that are past this point, dispute them with each of the CRA's. (would be a good idea for you to get copies of your reports from all 3 bureaus)

Her debt to credit ratio is hurting her scores as well. Adding her an an AU to your accounts should help but only if they have good histories, ie no late pays, the older the account the better, and a low utilization ratio, usually under 30%.

[alessandrom]

I have a good credit file just limited credit history. Never had any lates or baddies. Have about 10 ccs all reporting 1-9% Im sure this is helping her and this is why her scores went up almost 50 points from couple of months ago. I have in hand a copy of all three reports. At this point will try to dispute the information that is being reported for 6 years + thank you for the reply

[guiness56]

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@alessandrom wrote:

I have a good credit file just limited credit history. Never had any lates or baddies. Have about 10 ccs all reporting 1-9% Im sure this is helping her and this is why her scores went up almost 50 points from couple of months ago. I have in hand a copy of all three reports. At this point will try to dispute the information that is being reported for 6 years + thank you for the reply

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No, the CRAs will not automatically remove the paid collections at 5 years.  You need to remind them of the NYS statutes.  And I would not dispute, simply calling them would be fine. 

For all of the lates send GW letters asking if they will remove them.  If they say no, keep trying.

For optimum FICO scoring let all but one card report a 0 balance and the other at 9% or below.  YMMV.  You can tinker around with the % and number of cards reporting a balance but all together they should not report over 9%.

[Jaxavier]

Do you know which section of 380 refers to the 5YR period?

[guiness56]

380 J

  (iv)  accounts  placed  for  collection  or charged to profit and loss
  which antedate the report by more than seven years; or  accounts  placed
  for  collection  or charged to profit and loss, which have been paid and
  which antedate the report by more than five years;