HIPAA questions

[Anonymous]

TransUnion from 3-8-09 is 650

Equifax on Score Watch is 591

Last Experian was 627

I was STUPID and let First Premier Bank slip and accrued some late charges earlier this year. That will not happen again!!! Only baddies I have are these two small medical debts and the DirecTV debt. Will they fall off this year?

Also, I have a short credit history because all my bad accounts were old and fell off. We are trying to by a house soon in about 8 months. What do you suggest? Can I get longer age of accounts by piggy backing on my wife's longer credit history as a AU? Does that not work anymore?

Should I continue the HIPAA process on these 2 medical debts? I can easily afford to PFD them?

Thanks Fused. Sorry to ask so many questions. Just so excited to receive your great advice

[fused]

Since these med collections are so old, I wouldn't play with them. There must be something else hurting your scores? Do you have lates reporting from earlier this year by first premier? If so, how severe? Do you have high balances on CCs?

AUs still help scores. Tell me about the AU account: CL, reporting balance, any lates and when was the account opened?

Message Edited by fused on 03-24-2009 05:33 PM

[Anonymous]

       Well, on the First Premier I was out of town a couple of times and got 2 30 day lates and 2 60 day lates in Oct 2007 and Feb 2008. No one to blame but myself. I can only look to the future. I have the card sice May 2007. I only charge $30 max to keep it moving. This is the only CC I have. I do not even bother to GW them because I read they do not budge. They offered me a 2nd card though. Think they will drop the lates if I get the 2nd card??

       Also, I have an auto loan on auto pay that gets paid early each month. I have an installment loan on an expensive vacuum cleaner (don't ask) that is auto deducted too....it is gets reported too. My credit history as of right now is 2 years old. No past due accounts. I only have these 3 old collections. DirecTV and 2 medical accounts.

       So let me get this VERY clear.....these accounts WILL fall off this year and I should just forget about HIPAA process??

[fused]

This is my gut feeling based on my experiences. Here is what's hurting your FICOs:

- your lates are recent 

- short history

- too few positive accounts in relation to your baddies

Your scores are quite low even though these collections are old. They will fall off of your reports by the end of the year. I would leave them alone.

[Anonymous]

Ok...Thanks Fused. I REALLY appreciate all of your advice. I guess I will stick it out and let them fall off later this year. Hopefully my scores will heal with time.

Thanks!!

[fused]

No problem! Good Luck!