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radi8

Credit 101- (very) basic introduction

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My response to someone who wanted their credit clean in 3 months. . .

 

--------------------

 

I can tell you for a fact that one can get their reports clean in 3 to 4 months. But there's one catch. You have to read and study every thread (esp. the old ones). . .every day, cause you never know when 1 thread that "doesn't apply to you" makes everything "click" into place .. . . and not let frustration and impatience get the best of you.

 

As far as credit repair companies go. they will never be able to write a validation letter, nutcase letter, intent to sue letter, or contact the "special contacts" at the CRAs, etc. that are essential to repairing your report as quickly as possible.

 

Most importantly, (and this applies to anyone), if you want your credit cleaned up as quickly as possible, you need to make these forums your new obsession/passion. Your "learning curve" is in direct proportion to how much time you spend reading and researching every day. i found in my obsession/passion for credit repair, i didn't have time to feel sorry for myself or get frustrated because i was too busy learning/researching what i didn't know. (only after i finished cleaning my and others reports did i have time to get frustrated and dejected )

 

also remember, all of us have the exact same amount of time as anyone else in the world---24 hrs each day. so it's up to you, what you priortize your time with. if buying a house in 3 months is your goal, it can be done(i know because i cleaned my reports it in 3 months). It just depends on how important that goal is, in relationship to other things in your life. it's up to you whether that goal gets accomplished according to your time frame or not.

 

Ask questions, no matter how "stupid" they may sound to you, but also read everything you can, because many questions that have been asked on these boards, have been answered before, and often to a greater degree and clarity than the answer you may recieve now.

 

And remember, no matter how upset and frustrated you may get at the process, the only thing that can prevent you from succeeding is forgetting your goals and giving up. . .

 

I am going to read and read and read until I cant read anymore!!! I am hoping to get my credit report cleaned up in at least six months but sometimes it all seems sooo overwhelming!!!

 

I am going to work on this a lil everyday till I figure out how to do it completely. I have gotten a few things deleted and/or paid off which brought my score from a 429 to a 566 would looove to get it up to mid 600's!! I am glad I found this board!!!

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I have gotten my credit report down to one extremely derogatory item being reported from CBUSASears and it seems to be impossible to get rid of this. I am getting more and more frustrated and still trying to do as I have been reading here. That is to just keep plugging away.

 

Here is what has happened to me so far:

 

I received a phone call about 2 and 1/2 years ago from a "collection agency" representing Sears. The person on the other end told me that I owed Sears $214.00 and tried to talk me into settling for $110.00. I asked what this was for and was told that it was a charge from about 3 or 4 years prior to that. When I asked why I hadn't received a bill in all of that time, I was asked if blah, blah, blah was my address. It wasn't. They had me down at a previous address, which was a rural delivery (mailbox), but they had it as a P.O. box. I tried to explain, but the person didn't seem to care. I finally told him that if he would tell me what the item was and that if I did actually buy it, I would be happy to send him not only $110.00, but the full $214.00.

 

I was told that for any item under $500.00, they wouldn't "track" it. Therefore, I refused to pay.

 

I then tried to call Sears and pursue it from that angle. They told me that they couldn't talk to me about it because it was now in a collection agency’s hands. I have been fighting this thing to the best of my ability ever since. I am not even sure when the item was supposedly charged to my account. I tried at first disputing it with a “not mine”. Experian and Equifax came back with it verified. When I contacted them and asked how they verified it, I received no real answer, but apparently, they simply call the creditor and as long as they are told that it’s a legitimate charge, that’s the end of their investigation.

 

I wrote more letters. According to Equifax, Sears says that my account balance is 0. So what? It still shows as a delinquent account on my report. Experian is now looking into whether I have been the victim of fraud. My intention is next to tell both of them that this was never my address and there is really no way they can verify that it was because it truly wasn’t. Remember, the P.O. box number rather than a RD (rural delivery) number. I am hoping that this will fly with them.

 

My account shows the date of last payment as January of 1998, but the date of last activity as January of 2000. I am not sure what that means. I am also not sure how to ascertain from someone the exact date that this item was supposedly purchased. If all else fails and the seven year thing eventually turns out to be my only course of action, how will I know when that seven years is up?

 

Incidentally, my credit scores are all over the place:

Experian – 577

Equifax – 614

Transunion – 686

 

It gets worse. Thinking I was doing the right thing, I called a credit counseling agency (Lighthouse Credit Foundation) in September and consolidated all of my credit cards (about $38,000.00). Now, of course, I know that wasn’t a very smart thing to do. Most lenders look at that similarly to a BK. Prior to that, I had never been late on a payment in my life. Now, I wonder if I can fix all of this.

 

Help????

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Ways to locate addresses and information on companies: 8)

 

Better Business Bureau:

One way to locate a company and to check out their customer service record.

http://www.bbb.org

 

Just a word of warning- the BBB is nothing more than a paid referral service - they are not a reporting service, nor are they consumer advocates.

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Okay, so I am trying to look for my credit reports, the companies have an option to get all three credit reports from one company. Is that a good idea or should i go to each site and get my credit report?

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Go to each site and get your report. That way you will have report #'s to dispute with.

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Also, I am originally from california and all of my credit cards have my california address. Is it okay to have the credit info sent to my apartment in washington dc? I have been reading about giving the CR's extra information. Basically my question is: Will the CR's keep record of where they send the credit report?

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I think it's best to get each credit report from each of the three CRA's separately.

 

http://www.equifax.com

Click on personal. Order Equifax credit report for $9.00.

 

https://www.tuscores.com/userAgreement.jsp

Arrow down and click agree.

 

http://www.experian.com/

Click on "buy now" under credit report

 

If the negatives occurred at your old address you want to update your address with the CRA's as soon as is reasonable and then disavow the old address. Get all your old addresses deleted before you start disputing the negatives with the CRA's

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I've been lurking for a couple of weeks now and haven't even begun to understand the process of disputing (though I get the basic idea). So, I figured I'd start with what seems to be the first step, changing my address with the CRA's. How do I go about doing this? I'm not sure if there's the option of doing this online or if I should write a letter to have this changed. Should I order my credit reports first? (I'm not sure if this would help me see what addresses are on file or if I even need to see my old addresses) And, will updating my address do me any harm with the CA's? Only a few of them have actually found me after my many moves. (Not like running from the paper bill will actually reduce the amount owed) Thanks for any suggestions!

Robin

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i keep seeing fako and fico...i know what fico is but what is faco and how do i find mine.... and who uses or pulls the faco???? thanks

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I was told about this site Wed. night by my sister-in-law while I was having dinner with her and my brother. I came right home and joined AND I'm very glad I did. I didn't even know where or what to do until I saw the NEWBIES START HERE. Gosh! This is wonderful or I should say all you people here are WONDERFUL. Thank you so much. I've been doing nothing but read and print. Just in case I wanted to re-read I have printed just about everything here. I have got myself behind on all my bills and slowly trying to get things back on tract. I was just beginning to rebuilt my credit when things went BOOM! Now, I've got to start over again. If I had known about this site long ago I might have learn my lesson. Thank you so much for all you people that have (in just a few hours) helped me more than I can ever tell you. I look forward to really learning all the things I have always wondered about but didn't know where to go. All I can say is THANK YOU, THANK YOU AND THANK YOU.

Nan53 :roll:

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I think it's best to get each credit report from each of the three CRA's separately.

 

http://www.equifax.com

Click on personal. Order Equifax credit report for $9.00.

 

https://www.tuscores.com/userAgreement.jsp

Arrow down and click agree.

 

http://www.experian.com

Click on "buy now" under credit report

 

If the negatives occurred at your old address you want to update your address with the CRA's as soon as is reasonable and then disavow the old address. Get all your old addresses deleted before you start disputing the negatives with the CRA's

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Welcome to the board! :D

 

 

 

I was told about this site Wed. night by my sister-in-law while I was having dinner with her and my brother. I came right home and joined AND I'm very glad I did. I didn't even know where or what to do until I saw the NEWBIES START HERE. Gosh! This is wonderful or I should say all you people here are WONDERFUL. Thank you so much. I've been doing nothing but read and print. Just in case I wanted to re-read I have printed just about everything here. I have got myself behind on all my bills and slowly trying to get things back on tract. I was just beginning to rebuilt my credit when things went BOOM! Now, I've got to start over again. If I had known about this site long ago I might have learn my lesson. Thank you so much for all you people that have (in just a few hours) helped me more than I can ever tell you. I look forward to really learning all the things I have always wondered about but didn't know where to go. All I can say is THANK YOU, THANK YOU AND THANK YOU.

Nan53 :roll:

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i keep seeing fako and fico...i know what fico is but what is faco and how do i find mine.... and who uses or pulls the faco???? thanks

 

Because Privacy Guard is so out of whack on the FICO (real name) some call it a FAKO as in fake ;) slang word for Fico. Theres not really a FACO out there

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Stumble on to this forum accidently hopefully it willed a blessing. I am a 30 year single Dad with awful credit. I want to be able to purchase a home and relaible vehicles. I have about $10,000 in debt. I need help with it. I am not sure how to go about doing so. Please any information will greatly be appreciated.

 

_________________

Without struggle there is no progress.

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If the negatives occurred at your old address you want to update your address with the CRA's as soon as is reasonable and then disavow the old address. Get all your old addresses deleted before you start disputing the negatives with the CRA's

 

Hi

Im new and I cant seem to find any further information as to why you need to get your old addresses deleted. What advantage does this give you? for what circumstances? And should you always have only your current address on there?

Thanks!

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hi, i am new to this board. i just got rejected for a citibank credit card.

 

now i am thinking getting my free report from the credit agency (TU)

 

is it possible that i can obtain my credit report online? or i have to request one in writing?

 

thanks for any inputs.

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snarf

 

Because credit bureaus use your old addresses to verify old negative accounts. And besides, your old addresses are part of what's called a credit file header. If you ever undergo a background check, a PI might talk to all your former neighbors at those addresses.

 

 

xtra

 

You should be able to get your reports either way.

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Hello,

I am a newbie. I too am trying to repair my credit and my husband's credit. I have started off wrong however, I filed my disputes last week, first w/o removing the old addresses and opting out. I have since opted out and will send the address delete letters tomorrow. My question is I have a repo and 2 collection agencies/chargeoffs on my report. All 3 will be removed next year in the May/June time frame. If I dispute these would I awake a sleeping dog? PLS advise. Thanks

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You probably will generate some activity, since you didn't opt out first, but from what you're saying, these debts are about 6 years old, so it will be a nuisance more than anything else.

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OK. I fixed them!

 

 

FAQ's:

 

Credit Glossary.

http://www.creditboards.comviewtopic.php?t=32

 

Credit 101.

http://www.creditboards.com/viewtop...opic.php?t=1925

 

Don't do this.

http://www.creditboards.com/...opic.php?t=2070

 

PsychDoc's Credit Repair Primer from CreditNet.

http://consumers.creditnet.com/straighttal...5269#post395269

 

Sample letters:

 

Index and Starting Point.

http://www.creditboards.com...pic.php?t=14797

 

CreditNet sample letters.

http://consumers.creditnet.com/straighttal...p?s=&forumid=25

 

Sample letter forum.

http://www.creditboards.com/.php?f=18

 

You need a Yahoo account to see this.

http://groups.yahoo.com/group/creditnetters/files

 

Secured cards:

 

http://www.cardoffers.com/reviews/cards/ca...ategory=Secured

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