Credit Report

[thegreekchic]

<p>Am confused about my credit report. Okay here is a little background information. During college and about four years after that i accumalated debt close to $35,000.00(this includes my tution and college loans). Now, am 27 years old and have paid off my debt. But the accounts are still on my credit report. Shouldn't they have been reemoved? And by score has only improved by 100 points. Does anyone know when or how the information can be removed?</p><p>&nbsp;</p><p>thanks</p>

[landarch]

Info stays on the credit reports usually for 7 years.&nbsp; The fact that you'vepaid off your debts will help your score in the future, and apparently already has, with a 100 point improvement.&nbsp; Time will bring additional imrovements.

[angrymissy]

<p><a href="http://www.creditboards.com/forums">www.creditboards.com/forums</a></p><p>The accounts will stay on your credit report from 7 years from the last Date Of Activity.</p><p>Since you paid them, that started the Date of Activity.&nbsp; They'll drop off 7 years after you paid them.</p><p>Sucks, I know.&nbsp; That website has some tips on ways to possibly get them off.</p>

[Keotok]

<p>Just go through everything that is on your credit report, and make
sure that it clearly says $0 owed, and that it was paid in full.&nbsp;
If anything doesn't say that, contact that business, and ask them to do
it within 30 days.&nbsp; It will show within 30 days after that.&nbsp;
It should improve your score, and every month that your ballances show
0, your score will continue to increase.&nbsp; </p><p>Hope that makes half the sense that it did in my brain.&nbsp; Good luck!&nbsp;</p>

[angrymissy]

It will show zero balances, but will still show all lates or defaults.&nbsp; If they were collection accounts, they will show up as PAID collections,&nbsp;which will affect FICO the same way as a regular collection.

[thegreekchic]

<p class="MsoNormal"><span style="font-size: 7.5pt; color: black; font-family: verdana">That&rsquo;s what happened the one's that were in collection, say zero balance but the evidence of being in prior collection is still there. That's why in a way&nbsp;I regret not filling for bankruptcy a few years ago. I know someone who filled for bankruptcy and got a loan without really any problems. I on the other hand want to buy a condo but cant get a reasonable loan.</span></p>

[PhishHead]

<p>you can not get rid of Student Loans or Tution Loans from Banks with filing Bankruptcy its one of the things that are secured and cannot be dumped. </p><p>You should have no problem getting a loan if all of your things are paid off, that would make no sense, especially if they were student loans.&nbsp; </p><p>I have 50k in student loan debts still current and had no problems getting loans with amazing rates, because they do not cut Student Loans as much as say a mortgage, car or personal loan, because the interest rate on student loans is low and secured.</p>

[angrymissy]

<strong>thegreekchic</strong> wrote:<br /><p class="MsoNormal"><span style="font-size: 7.5pt; color: black; font-family: verdana">That&rsquo;s what happened the one's that were in collection, say zero balance but the evidence of being in prior collection is still there. That's why in a way&nbsp;I regret not filling for bankruptcy a few years ago. I know someone who filled for bankruptcy and got a loan without really any problems. I on the other hand want to buy a condo but cant get a reasonable loan.</span></p><p>Try the creditboards website i referenced in my first post.&nbsp; It will take a while and a lot of reading, but if you're persistent, and write enough letters, there are ways to get them to drop off your report.</p><p>The FIRST thing you should do, is buy your report from each agency.&nbsp; Then, go online and dispute everything you paid off as &quot;NOT MINE&quot;.&nbsp; The creditor has 30 days to prove it is your debt.&nbsp; Often, they don't verify it, especially if it is paid, and it will drop off.&nbsp; You'll most likely get a couple to drop this way.</p><p>Good luck</p>

[patsopinion]

<p>who are you trying to get the loan from.&nbsp; </p><p>e-loan is the best.&nbsp; Different infrastructure compared to regular bank will get you pretty well.</p><p>the other way to go is go to a credit union. &nbsp;&nbsp;</p><p>and every time u run your credit it docks u points.</p><p>i
dont know what your score was but there is break points on a credit
score so 5 points could be the difference between a rate of 6.7 and a
7.5 through some companies.&nbsp; (i was a loan agent)</p><p>your old stuff doesnt hurt in most cases.&nbsp; Unless you have bad stuff on it.&nbsp; </p><p>IT AFFECTS YOU FOR 3YEARS BUT KEEPS YOUR RECORD FOR 7.&nbsp; (that is a huge difference)</p><p>Legally
they are only allowed to charge you 5 percent points(which is how most
agents make money).&nbsp; Dont allow them to charge you more then 2 or
they are just flat out ripping you off.</p><p>I could go into further depth on how the process works if anyone is intrested.</p><p>&nbsp;</p>

[Ogre]

<strong>angrymissy</strong> wrote:&nbsp;&nbsp; The FIRST thing you should do, is buy your report from each agency.&nbsp; Then, go online and dispute everything you paid off as &quot;NOT MINE&quot;.&nbsp; The creditor has 30 days to prove it is your debt.&nbsp; Often, they don't verify it, especially if it is paid, and it will drop off.&nbsp; You'll most likely get a couple to drop this way. <p>Agreed, knowledge is power.&nbsp; 2-3 months of working the report and your numbers should go up.&nbsp; It has been my experience that actively &quot;mining&quot; your report will eventually lead to a higher score.&nbsp; Dispute everything within reason and stay away from &quot;high limits&quot; on your various accounts.&nbsp; you would be amazed at what a diiference of&nbsp;one &quot;close to high limit&quot;&nbsp;will do to your score.&nbsp; Case in point had a VISA with a large limit, stayed within $500 of said limit and my score was X&nbsp; I paid that particular card down by 1K and my score jumped 50 pts.&nbsp; even though I had smaller cards with plenty of line available.&nbsp; It's just a game, but with about 90 days of a pro active approach you can see positive results.&nbsp; I have a monitoring service that costs $9.95 a month. It is worth it in the long run, especially these days.</p>

[HeyGuy]

Are you trying to get a mortgage? If so PM me I can hook you up with my brother he does mortgages and works for the largest lender in the World, Wells Fargo. He can beat any rate and has so many programs he can hook you up with the best one for you.

[PhishHead]

campo i might PM you about that, i am looking to buy a house or condo by next May so I may need some help.

[HeyGuy]

<strong>PhishHead</strong> wrote:<br />campo i might PM you about that, i am looking to buy a house or condo by next May so I may need some help. <p>Not a problem</p>

[patsopinion]

<p>wells fargo isnt best</p><p>i was a loan agent working for one of those asshole comapnies and i had consistanly better rates avl then wells fargo.&nbsp; </p><p>credit unions or eloan is the way to go.<br />
</p>

[HeyGuy]

<strong>patsopinion</strong> wrote:<br /><p>wells fargo isnt best</p><p>i was a loan agent working for one of those asshole comapnies and i had consistanly better rates avl then wells fargo.&nbsp; </p><p>credit unions or eloan is the way to go.<br /></p><p>I worked for a mortgage company and my brother works for wells fargo. When I would do a loan my brother would always have better rates and not fuck people at the closings. I hated doing mortgages so I quit. But from all my friends and other story's they never tell you the truth until you get to the closing and see all this up front money you never knew about. Mortgage companies will sometimes beat the rates of actual banks by adding points to your closing costs, so watch out and ask questions.</p>

[Justice4all]

<p>Screw his brother (Just kidding Ant)...I AM a loan officer for a mortgage Broker. And Wells Fargo is one of our lender. So feel free to contact me as well.</p><p>&nbsp;</p><p>Now as far as the topic is concerned. Missy is mostly right. Most of your credit will stay on the report for 7 years, but do not be surprised if it is on there for more then that.</p><p>If your scores jumped up 100 points that is good. If you filed for bankrutpcy more then two years ago most lenders will not worry about that. So you should be fine that way also.</p><p>One way to keep your crdit scores up or make them climb up is to make sure you do not surpass more then 50% of your balance on your credit cards.</p><p>If you have 5000.00 limit make sure your balance does not rise higher then 2500.00 for a lengthy amount of time, or it could effect your credit and make it drop a bit,</p><p>Having your credit run is not a bad thing. The way running credit negatively effects your score is if you have credit run for everything under the sun. Such as applying for a credit card, then trying to get a car, then a cell phone, then a best buy card ect. ect. If you run your credit 10-20 times in a 2-3 month span then it will seriously drop your scores.</p><p>If you want some more info feel free to PM me.</p>