I'm new, trying to rebuild credit.

[Handsome Rob]

Letters are probably a good start. If you do want to spend some more time with trying to get items off though, then disputing incorrect amounts gives you a shot at it.

 

Isn't that what I've just done? Sent them a dispute on the amounts? Missing something here?

 

And the plot thickens. My Tranny is failing.....fast. Before I go get another junker, figured it's worth a shot at least talking to Scotia, see what they say.

 

Looking at, '09 - 0 Km. Around $13,500 closing, $2000.00 down, 36-48 months. $250-350/month depending on rate, hopefully pay it off in a year.

 

3 years on job, 1 year at residence, last residence was 4 years. Net $33,000.

 

Should be interesting.

Edited March 6, 2010 by Handsome Rob

[Quasei2]

Hey Rob,

 

Just finding this now.

 

I wasn't sure how you disputed previously. I thought you just did a dispute that the items should not have been on your report rather than that the specific dollar amounts weren't correct. My mistake!

 

Yikes on the car! Have you made an appt yet? Let us know how it goes!

[Quasei2]

Any updates? I'm curious how you made out with some of the letters you were going to send out. How about the car? Did you make a decision about that?

[Quasei2]

Hey Rob,

 

Any progress yet?

[Handsome Rob]

Any updates? I'm curious how you made out with some of the letters you were going to send out. How about the car? Did you make a decision about that?

 

Hi Quasei,

 

Sorry, been out enjoying the summer, and I have to admit, I've been feeling a little bit disheartened about this whole thing.

 

Car - We bought a 2001 Volkswagen. I took $2500 saved, and we put $1500 on her credit card, paid it off before the statement arrived. Worked out pretty well.

 

I haven't sent any letters at all. During this dispute process, I was also trying to find out what the heck was going on at Equifax. Turns out my credit file is split, they gave me a fax number and a bunch of information/ID to send in. I complied, then they sent me back a letter asking to mail in all of the same stuff + a little bit more. They're almost as bad as Telus or the friggin' CRA.

 

Between that, and the basically, slap across the face I got from TransUnion, I just kind of gave up a little bit. Don't know where else to go.

 

Just got the 7th green square on my TU report for the Cap1 card, score hasn't moved. Still sitting at 611 , I'm thinking about going to talk to Scotia now, secured or un-secured, whichever.

[Quasei2]

np Rob! I've not been around as much lately as well. I took a major trip in June and have been playing catch up at work and home since then!

 

Congrats on the new car Glad you'll have a safe way to get around now!

 

Hopefully by now EQ has sorted out your file. Have they?

 

As for TU, they are a PITA. Keep plugging away at them, but if you need a break then I understand that! Sometimes the stress of fighting with TU made me literally sick.

 

Congrats on the 7th green square! Hooray! Your score will move. Just give it some time. And once you have the EQ thing sorted out I think it would be a good time to start talking with Scotia - if nothing else they'll tell you what you will need to finish up to qualify.

[Handsome Rob]

Woot - Finally got Equifax file.

 

TU - 611

EQ - 634

 

Total summary of everything:

 

Cap1 $500 CC:

TU - Opened->01/12/2010 - No delinquencies

EQ - Opened-> 01/2010 - No delinquencies

 

Solo Mobile Cell:

TU - Not displayed

EQ - Opened->02/2009 - No delinquencies

 

HBC Card:

TU - Opened->07/07/2006 - 1 30 day, 1 60 day - Closed - Last Activity->07/28/2010

EQ - Opened->07/2006 - No delinquencies - Closed - Last Activity->12/2006

 

WFF Corp Canada (Wells Fargo Store Payment Plan):

TU - Opened->05/18/2005 - 3 30 day, 2 60 day, 3 90 day - Closed - Last Activity->11/22/2008

EQ - Opened->05/2005 - 0 30 day, 1 60 day, 2 90 day - Closed - Last Activity->07/2006

 

RBC Visa:

TU - Opened->07/15/2004 - 2 30 day, 2 60 day, 12 90 day - Closed - Last Activity->02/10/2010

EQ - Opened->07/2004 - No Delinquencies - Closed - Last Activity->06/2007

 

ICBC:

TU - Opened->06/28/2007 - Delinquencies not reported - Closed - Last Activity->01/31/2009

EQ - Opened->06/2007 - 3 90 day - Closed - Last Activity->01/2009

 

Envision Credit Union (Car Loan - High balance: $11,923):

TU - Not Displayed

EQ - Opened->08/2004 - No reported Delinquencies - Bad Debt/Written Off - Last Activity->02/2007

 

CBV Collections (RBC Visa):

TU - Opened->04/25/2008 - Paid

EQ - Opened->04/2008 - Paid - Last Activity Prior to Collections->02/2007 - Paid->12/2008

 

Credit Bureau of Vernon (Hyrdo Bill):

TU - Opened->04/21/2008 - Paid

EQ - Opened->04/2008 - Paid - Last Activity Prior to Collections->09/2007 - Paid->12/2008

 

Still waiting for an actual hard copy from Equifax, but it's a start.

 

I'd previously tried to dispute with TU, RBC Visa/ICBC/CBV/CreditBureauOfVernon, balances displaying are incorrect. They came back with that slap across the face, "We don't care."

 

Any suggestions what to try next?

 

Those collections are going to be gone in like 2 years anyway, is it really worth fighting they're so old?

 

The car loan, displaying as written off, but it was definitely paid off. Should I try to contact the creditor to have it removed? Or try and dispute status through EQ?

 

Any other suggestions? I've gotten a second wind for this.

[Handsome Rob]

OK, well off goes a letter to Equifax disputing the loan. Perhaps that will recharge my morale with a favorable conclusion.

[breeze]

If the dispute doesn't correct it, definitely write to the loan company.

[Handsome Rob]

Woot! Cap1 CLI $500->$1500.

[Quasei2]

Congrats on the limit increase!

 

And I think you did the right thing tackling the loan first with the most obvious errors. Also, it's a good thing to tackle each one individually now until they're all corrected. One at a time.

 

Yip you might try chipping away at those lates - particularly the accounts where it shows different last dates on them.

[Handsome Rob]

Unreal.

 

9 months of good reporting on EQ, and a credit limit increase of 300%, still a stagnant TU score. It just won't move. I'm always waiting for the 22nd to go and check.

 

And waiting for Equifax to respond is like waiting for Santa Claus.

 

Equifax Credit score actually went down 3 points, only official change to the file is a 300% CLI. WTF?

Edited October 22, 2010 by Handsome Rob

[Stu.Padaso]

Unreal.

 

9 months of good reporting on EQ, and a credit limit increase of 300%, still a stagnant TU score. It just won't move. I'm always waiting for the 22nd to go and check.

 

And waiting for Equifax to respond is like waiting for Santa Claus.

 

Equifax Credit score actually went down 3 points, only official change to the file is a 300% CLI. WTF?

Like you, I find TU doesn't really update their scores as frequently as they claim. I've had tons of changes, added new cards, cancelled others, had high balances, low balances, etc...just about anything that can make the score flucuate. And this is all within the last year.

 

But nope. My score sits and sits and sits and does nothing. It does change eventually. But not very often. If I were to guess, I'd say TU must run the calculation program about every 3 months. Maybe twice in the last year my score changed when I wasn't expecting it. But 2 days later it moves right back to where it was before.

[Handsome Rob]

What the hell?

 

So I just get a call from NCO collections, apparently a 4 year old bank account from RBC was written off overdrawn in 2007? $342.

 

Now RBC goes and sells this debt to collections 3 years later? Why? Nobody reports to the credit bureau, they make no effort to get in contact with me. I had no overdraft....

 

What the hell? Never again, will RBC see business.

[Quasei2]

I hope you told 'em not to call you and to please send it in writing? Grr grrr grrrr NCO can be a bunch of vultures. Do your best to stay off the phone with them, imho.

 

I'd also recommend you pull your reports again asap. Wouldn't surprise me if NCO just bought the debt and they report it now even though RBC has never reported it. If they have DV it up the ying yang with reminders about your rights as a consumer in BC with regards to collections. Since it's less than 6 yrs old they can still legally collect on it in BC, but you have significant rights about how they can and cannot proceed.

 

I hope this all just disappears and that's the last you hear from them. Keep us posted.

[Fatherhound]

Guess it's all a matter of perspective. CIBC to me is a PITA.

I have crappy scores, including a low EQ score, just under 630. TU of just over 670. One negative item on each bureau resulting from a CC that went to collections 3-4 years ago and which was marked as a CO & was pif (Ridiculous amount owing on it, something like $200)

I have had a Cap 1 secured for 3 years, no lates, secure housing and employment history and a car loan over 18 months old (not financed by CIBC).

Applied for their "easy" card to get, the basic one and was told in no uncertain terms, ANYTHING on the bureau will result in a rejected app. We had a lengthy conversation about this.

I should mention, they have been our main bank for about 7 years.

All I can think of is that I applied via the phone, should I have gone in to the branch?

 

On a side note, the Cap 1 card has been amazing.

I had a credit score of well ... WELL under 500 when I first started looking at credit scores a few years ago. I was looking to see how much damage the collection accounts I had did. As you can see above, the scores have gone up quite a bit. Well under 500 is a nice way of looking at barely over 400. Something like 98% had better credit than me.

Spend, pay, repeat. Never had a problem with them doing that.

 

As much as the card has done, I can't wait to get an unsecured card from one of the "big" banks.

Would like to have one soon as we are now in a spot to start saving money and hopefully in about 3 - 3.5 years when that last black mark falls off we'll have enough to put down on our first home. I'd like to have a solid history before haggling for rates with a broker/bank.

I made the decision to pay a higher interest rate on the car due to our history and the fact it was needed, but no way am I paying more than I have to on a mortgage.

 

wow ... sorry about the long post, I just wanted to post on the CIBC thing, not sure where the rest came from