Credit repair? Thoughts?

[phen0m]

So i've made some mistakes in the past.. quite a few in relation to my credit. I would like to set on the road to shoring up some of those mishaps, but what is the best way to go about it?

Should I just pull my credit report and start calling the creditors to setup a payment? Should I look into consolidation? Looking for options.

 

[SneakerProSr.]

Do you have any credit cards?

 

[phen0m]

No Credit Cards. Everything I do currently is with cash. I did takeout a loan with my bank a bit ago. I keep a few k in my savings, and use that as collateral. This account gets frozen by the bank when used as collateral. Then I just make on-time payments on the loan. This has raised my score a quite, but I want to get rid of the past errors as well.
















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[SneakerProSr.]

Get a secured credit card.

Truthfully there are no fixes once it hits your report

 

[usabasketball08]

What is the best secured credit card to get?

 

[crcballer55]

You won't be able to get rid of any legitimate actions on your credit report for 7 years. If the accounts have not been settled yet, try offering them 40-50% of the previous balance and get it IN WRITING before you send them any money. Your credit score should gradually increase as you settle accounts. However, if you really want to increase your score, you'll need to open up new debt accounts like a personal loan, car loan, credit card, etc. The more debt you take out, or have available to take on, the more your score will increase.

 

[al audi]

what crcballer said

essentially the resident financial advice guy for NT

 

[kiiing]

For starters pay off all of your debt that you owe or whatever you have on there. Call the people you owe and tell them to take it off your credit report and you'll pay it. I'm not an expert but, I had no credit about 3 months ago and my SS was used to open up a store card and used $400 on the spot. I got a call from collection agency and didn't really care and told them it wasn't me. I didn't realize how bad it had gotten until I was looking to buy a car for work. I spoke to someone about it and they told me to pay it and then dispute it. Just by paying it brought my credit up 40 points. I never had a credit card. I ended up getting co-signer and got approved for a car loan. My plan now is to get a secure card and make those monthly payments on time. Go to CreditKarma.Com they have a lot of useful information. Like don't go over like 25% off your limit and make full payments on time etc etc..

 

[phen0m]

I thought that accounts that you settle still have to be paid via taxes the next year? Also, has anyone signed with lexington law? Worth it?

 

[crcballer55]

For starters pay off all of your debt that you owe or whatever you have on there. Call the people you owe and tell them to take it off your credit report and you'll pay it. I'm not an expert but, I had no credit about 3 months ago and my SS was used to open up a store card and used $400 on the spot. I got a call from collection agency and didn't really care and told them it wasn't me. I didn't realize how bad it had gotten until I was looking to buy a car for work. I spoke to someone about it and they told me to pay it and then dispute it. Just by paying it brought my credit up 40 points. I never had a credit card. I ended up getting co-signer and got approved for a car loan. My plan now is to get a secure card and make those monthly payments on time. Go to CreditKarma.Com they have a lot of useful information. Like don't go over like 25% off your limit and make full payments on time etc etc..

You paid it just to get a car loan? That's $400 out of YOUR pocket because someone committed identity theft.

If anyone runs into this, inform the collection agency that they MUST provide written proof that it was you within 30 days under the Federal Fair Debt Collection Practices Act of 1977. If they do not provide written proof, they are required to stop contacting you and inform the credit agencies that it's not you. You should also write a certified letter to the 3 credit bureaus requesting the same.

 

[kiiing]

For starters pay off all of your debt that you owe or whatever you have on there. Call the people you owe and tell them to take it off your credit report and you'll pay it. I'm not an expert but, I had no credit about 3 months ago and my SS was used to open up a store card and used $400 on the spot. I got a call from collection agency and didn't really care and told them it wasn't me. I didn't realize how bad it had gotten until I was looking to buy a car for work. I spoke to someone about it and they told me to pay it and then dispute it. Just by paying it brought my credit up 40 points. I never had a credit card. I ended up getting co-signer and got approved for a car loan. My plan now is to get a secure card and make those monthly payments on time. Go to CreditKarma.Com they have a lot of useful information. Like don't go over like 25% off your limit and make full payments on time etc etc..

You paid it just to get a car loan? That's $400 out of YOUR pocket because someone committed identity theft.

If anyone runs into this, inform the collection agency that they MUST provide written proof that it was you within 30 days under the Federal Fair Debt Collection Practices Act of 1977. If they do not provide written proof, they are required to stop contacting you and inform the credit agencies that it's not you. You should also write a certified letter to the 3 credit bureaus requesting the same.

Well, I got the car loan approved it with it on there. The guy who was doing the car loan for me said if I paid it I can put in a dispute afterwards with the credit bureaus and if I left it as is it would of kept bringing down my credit score. I just wanted to get it over with as well. I haven't even looked into disputing it. I have a friend who's brother does mortgages and said he would take care of it.