Credit Card Late Payments, Credit Limits and Balances

----- Original Message -----
From: REAL PERSON
To: majors@oskie.com
Sent: Sunday, May 22, 2005 11:56 AM
Subject: Credit Help!!!!

Hi Bo,
I was reading your website and it is choc full of info!
I have 2 delinquencies on my credit report for late payment over 30 days. I called the credit card company and they told me that they could do nothing to remove the delinquencies from my credit unless it was their error. Do I have any other options or am I stuck waiting 7 years?
Another question if I pay my credit card debt down to below 25-30% of their limits will that bring up my credit score significantly? If so could you estimate?
Thanks for your website and all of your help!
Sincerely,
R Person

It sounds as if the answer would be no to the first question. You have tried to no avail unless you have a check receipt from your bank before the 30 days past due date. You are entitled by law to dispute this entry through the bureaus. The answer will probably be the same. Try to get 2 years behind you and ask for help then. Do not close your account and pay them well and your score will go up anyway.
If you pay down any account to below the 80% against you highest allowed limit on the account, it will help your score and sometimes significantly. So do it!


Bobo Majors
931-455-6066 Work Russell Barnett KIA