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So I just got my credit report. It wasn't horrible, but wasn't close to good. What are some of the best companies, or ways to repair my credit/ get outof debt?
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Originally Posted by lilpro4u
Creditboards.com is where it's at no joke.
I be on there more than NT these days.
I got 10 credit cards since Jan. 08.. And my fico scores is up roughly 100-150 points on all 3 bureaus.
I also got a lot of stupid med bills deleted from like 4 yrs ago. Right now im working on joining every Credit Union I possibly can.
Credit repair
AKA - Fraud
When they advertise themselves as entities that can "remove negative credit information from your report," thats a big red flag. If there is goodreason to, within the law, they simply ASK the credit bureau to do so - you can do this yourself. So they are not doing the removing, not by a long shot. Thecompanies that call themselves "credit repair" are doing either:
A. something you can do yourself - filing simple disputes for ACTUAL true disputes you have with creditors/credit items on your report
B. filing fake and untrue disputes on YOUR behalf, claiming they are YOU while writing/calling the 3 credit bureaus. Internally, the credit bureaus KNOW whenyoure dealing with a credit repair company, and when they are being sent a dispute from one, and they flag your file. 99% of the time the consumer (you) doesntknow exactly what the "repair" company is doing to "repair" your credit. it makes you look stupid, and often times doesnt work.
Other than that, theres more to A and B than meets the eye, little things you can do to boost your score, cant get into all that right now, but trust me,educate yourself, and you can duplicate what they are doing - more often that not, the people who do the actual "work" at those repair places areyoungsters like most of you/us, and they have just been trained to do a job, not to think. Those sites mentioned are a good starting point for advice. But in anutshell, pay EVERYTHING on time, pay it down as much as possible. if there is old NEGATIVE information on your report that is yours, see if its past itsstatute of limitations, it shouldnt be on there. Sometimes the credit bureaus dont do their job, call them out on it if you know youre right. If its goodcredit info, leave it alone - again, in simplified terms, it depends what that credit item was/is, how much was on it, etc.
I can go on and on, but the majority of us have inaccuracies on your 3 credit reports, just a matter of monitoring it yourself to see if any of it is major,and if its not major its easier to get it straightened out. As for your score, well there are different criteria that will help you improve your score, themain one I mentioned which you should stick to and worry about the rest later, but there are plenty of other methods that people throw out there to help youimprove your score that may not necessarily be true, and no one knows the answer because no one knows the formula that is used to calculate your score - whichis usually issued by FICO for those of you who are not familiar with that name, its the standard credit scoring company that most lenders/creditors use...thereare others, but this can cause confusion to your average consumer because multiple credit bureas X's multiple credit scoring companies = mass confusion.
its a very shady business, and you'd be surprised how much BS creditors and credit bureaus get away with and how it screws over your average joe. how do iknow this? I've worked on both sides, from one of the major credit bureaus to underwriting institutions to mortgage lenders, so i've seen it spunaround different ways. the most telling was from the credit bureau side itself. if you have any other specific questions I can try to help, but there is a lotof gray area that no one has an answer to, just use common sense - if you have it (not to anyone in particular, generally speaking)
If some one used your name in a fraudulent way why would you even attempt to consider paying their debt off?
Bingo. Don't even think about paying off what isn't yours, as long as you know it isnt yours. It's almost an admission of guilt if youdo that. Dispute EVERYTHING that isnt yours. And don't just say it's "not yours," give a specific reason why it isnt, and keep doing it, andkeep pushing for what information they have exactly that links those accounts to you. I'm assuming you're pretty young, so an EASY way to take care ofit, is if the accounts that were opened were opened before you turned 18, check the opening dates. Those accounts should come off INSTANTLY if you disput itover the phone. If they say no, you get someone on the phone who will do it on the spot and keep calling until they take it off. That is a blatant andnegligent error that will usually wind up being corrected fast.
Originally Posted by 703 Hwy
10 CC's for one person, that is OD imo but the average person has 9 CC's (I think).
Word. Completely unnecessary. Amex, Visa, Mastercard. That's 3. You don't need a card for every single store you go to.
It's unnecessary to pay over $45 for ANY pair of Nikes but I'm sure you've done that plenty of times right?
Just because I have MANY a credit cards, and plan on getting a lot more mean im in debt? I don't owe anyone money! I pay my shh in full, and the onlyreason I wouldn't is if there a promotional 0% on the card. Needing a card for every single store NTer please.. I shop at Macy's that's about itjust to get the extra off for using my card.
If 3 cards is the most you can handle responsibly, fine. But don't frown on people who can manage 10x more. Some people go crazy over 1 so calm your egodown fella.
Originally Posted by lilpro4u
Word. Completely unnecessary. Amex, Visa, Mastercard. That's 3. You don't need a card for every single store you go to.
Originally Posted by YoungTriz
hey i need some help..... My credit score is 677, wifey is 714.... she works part time and so i make more then her... i ran my credit more and had/ have more stuff on there.... do ya'll think i will be able to buy a house my next year????? about 200k to 250k range