I missed a payment for a federal student loan and about a week and a half ago, it hit 7 years. Isn't it supposed to just fall off? When will that actually happen? Do I have to do something to make it fall off?
Thanks for your help!
I recently received a "score" in a letter from a financial institution. The letter revealed that the data was Equifax, but made no mention of the model, just that "Scores range from a low of 501 to a high of 990." That's an awfully high top end, could this be Vantage 4?
Of the five adverse factors listed, three were of the dunning "How dare you use your credit cards!" type, including the fact that I have too many of them. Then I got "No real estate accounts with a valid credit amount." No I don't have a mortgage; I busted my hump for 35 years to own my home free and clear and now it's a negative on my credit score. Lovely.
Then came the dreaded, infamous, Too Many Inquiries! factor; but look how they have juiced it up to sound less negative: "Number of inquiries was also a factor, but the effect was not significant."
BTW, I had one 14 month old inquiry.
Hi everyone, I am a bit confused about a letter I have received from Wells Fargo. It is an old auto loan that was charged off in 2018 (repo). I have only removed addresses and frozen lexisnexis,innovis, etc at this point. I received a letter from WF stating that due to the age of my account they are cancelling the balance, and will no longer attempt to collect. This seems strange to me that they would voluntarily cancel a debt before I've disputed anything. What should I do if anything regarding this letter. I'm hoping the credit Gods are just dropping a blessing down on me
Finally posting on this forum after gawking for a while. 🙂
I've been working on my credit repair the last couple of years and am kind of at that point where I'm not sure if there is anything else I can do but wait it out.
Had a medical issue back in 2016 / 17 which contributed to somewhere around 12 account charge-offs and a car repossession. Over the past year and a half, I've been aggressively paying the accounts off (all are at zero balance, settled), disputed as many as I could (several fell off, am doing another round this month), opened five rebuilder / secured / sub prime cards starting two years ago (Citi Secured, Self Secured, Cap 1 Secured, Cap 1 Unsecured, Credit One Unsecured), did the Self Lending self loan (like 6 months left on that one), Experian Boost, have had a high interest car loan the last two years, am about to replace it with a newer car loan at a lower rate, and obviously keep cards paid off every month and paid on time (*accidentally had a 30 day late when I was changing banks and forgot to update the account that was on autopay).
Looks like stuff starts aging off in 2023 and 2025. Scores went from the low 500s to 696 Trans, 712 Equifax, 625 Experian.
The problem I'm having is that even with everything settled, zero balances, and "good" scores," I'm still in purgatory when it comes to getting an actual decent points card. Capital One gave me an unsecured one a few months ago, but it's a $300 limit on a non rewards card. And since I already have two cards with them (one which is my oldest card now), even though their my "best bet" in the nearterm for a better card, i'm at their card limit.
Goal Cards in the future are Chase Sapphire, AMEX Blue, AMEX Gold, and Citi Premier.
Current plan is to just keep sending dispute rounds every few months, keep balances at zero, not apply for anything new at least until early 2022.
Is there anything I'm missing? Anything I can do sooner to help compensate for the scars from the past on my credit report?
I’m newly separated and I’m trying to re-establish my credit and financial independence. There are 4 collections on my credit report that my husband was responsible for when we were together in 2020. We both had extensive blood work done by a lab of which he was paying. We separated and he has not been paying so it went to collections and showed up on my report.
I just disputed them online a few days ago and am waiting to see if they are removed. It has my name and not his. Is it even conceivable they will be deleted? My score is in the 500 range right now. I don’t have much credit but want to repair and build.