GETTING MY SCORE TO RISE

[Anonymous]

I need some serious help, and information. I had approximately 10 collections, on my credit report, about 60K, in student loans (Deferred), and approximately 10 accounts in good standing. My scores are as follows, 526, 566, and 545. I have been working on my credit for over a year now. I need to know how to get old accounts that are paid, out and closed deleted from my file, because I have been doing some research, and found out that even though I have pd. The collections out, if they are still on my report it is affecting my credit score. Also, I had a bankruptcy in 01, and it has been dismissed since 01, but I was wondering if my credit score will not increase until this goes away in 2011. I have received an updated report that shows 0 balances, but the accounts are still on their. I need my score to rise in the next 60-90 days, because I really want to purchase a house. Can anyone assist me. Oh yeah, I was thinking about letting this company assist with getting these accounts deleted, but they wanted 500.00. So, I was skeptical. Please assist if possible.

[llecs]

Welcome to the forums!

Know the distinction between collections (CAs) and charged-off accounts (COs). You'll always want to have CAs removed, no matter what. CO removals are generally OK, but removing some can result in a score drop, so be careful. Also, even if the account was bad, it could be reading as a good account now.

You can press for the removal of CAs via a GW. That is all you can do. For COs, all you can do also is to send a GW. Your average age of accounts (AAoA) factors by a large chunk into your FICO score. Calculate your avg age (also usually found on EQ and TO CRs on pg 2 or 3). If the account you want removed is younger than your avg. age, and the account is reading as a bad acct (w/ lates), then press for a removal via a GW or you could ask via the GW for the OC to repair the account to make it look good again. If any account went bad 7 yrs or longer ago, then don't touch it. Some OCs react to GWs by deleting the TL.

[Anonymous]

Its true GW Can help you!... My report is covered in CO and paid collections like flies on.... Well stink!

It seems like a bad place because it really seems like it is in someone's hand at this point. It's not! I sat down one night and typed up a whole stack of GW letters and mailed them out the next morning. I marked it on my calendar and 30 days from that morning I am going to check the progress and mail more letters.

Check around and Im sure you can even find email addresses of people who work at those companies. Some times all it takes is one well written email to the right person and BAM one less fly on your stink!

I don't however recommend harassing anyone for GW or trying to pressure them into it. You get more flies with honey and after all you are trying to lure the flies off your... Stink!

Seriously shell out the $8 bucks for the postage and a pack of pretty printer paper and start writing ... You have nothing to loose!

After you get those letters written keep reading the boards. I have found other ways to improve my credit score was well.

Sometimes the best way to get the bad to look better is by diluting it with good, so after you send your gw letters work on paying your existing accounts on time, paying accounts down, and maybe adding a different kind of credit to the mix.

Just don't get discouraged... Your score will come up!

Good Luck!

[Anonymous]

The 2001 bankruptcy will remain (as a one-line entry) on your reports for 10 years, because it's a public record.  However, all the individual accounts that were included in your bankruptcy filing, should drop off your reports 7 years after they were included in the bankruptcy.  Derrogatory accounts are reported for 7 years.  If they don't get deleted automatically after 7 years, all you have to do is ask the CRAs to drop them, and they will.

If your reports contain any old accounts in good standing, you do not want them deleted, because they help your scores.

It's good you didn't get suckered into paying someone to assist with cleaning up your credit report.  Because, they can't get anything done that you can't get done yourself.