I had ten-thousand dollars in cash and couldn't get approved for a twenty-thousand dollar loan

I am a twenty-seven year old female with a degree in accounting. I had ten-thousand dollars in cash and couldn't get approved for a twenty-thousand dollar loan. My score was in the 600's then, now my score is a 560 with high revolving debt medical and school loans.There is about fifteen thousand altogether. I have thought about ch. 7. I would rather repair. I have struggled for years to fix it once and for all. What do I need to do first?
Desperate In Ohio
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take the ten grand and pay your debts
open up 3 credit cards and pay on time for 2 years
that will give you 3 rated trade


take the 10 grnad an put it on a 15000 car and that will get you financed
make sure the creditors reports to bureaus
or
dont borrow from them
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I am very scared to investigate my credit score

Quoting Real Person
Hi-
Thanks for your great website. Like many people, I am very scared to investigate my credit score. I have no idea what it is. I did have a few unpaid credit card bills that went into chargeoff in the mid 90s, and I have one collection agency snail-mailing me still but I am too scared to open the letter. I recently accepted a job at a major company and was surprised I passed a background check, which included a credit report. This makes me think it might not be too bad. I have convinced myself I am in the toilet credit wise, but lately I have received a flood of offers recently that
reference my great credit. I have had an American Express card since 1990 and I was just solicited to upgrade to a platinum membership with them, so I am not sure what to think. Any advice as to how I can conquer my fear and take the big leap and face my fear of the scary world of credit? Thank you.

PS I stumbled on your website while searching this topic on Yahoo.
Thanks for a great public service.
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This "scary" issue faces almost everyone I know who has intelligence. I am afraid to look at my bank account most days because my wife and I are such disasters. We cannot manage money worth a dern and overdraft almost monthly although our overdraft protection bails us out most times. But the same issue you are talking about kept me from trying to buy a house in 1994 and you can read my story about what I found out. The truth is your credit is real and you should know what it says. You should know facts about credit. Late payments are not reported as such unless they are 30 days old. Many people think paying 15 days late messes up your credit. NOPE. You mention 1990. Heck that is 15 years old it should be gone by now. Little things like that scare people.
The one true credit god is your friend not your enemy unless you never feed it and talk to it. Check your credit NOW. Get a score. there are 3 bureaus check all 3 right now. No one is going to hurt you. The only problemm you may face is seeing damage you already dread, or finding something incorrect which you CAN FIX. Oh my gosh. Check your credit every year and make it a habit like brushing your teeth. Credit is your friend.
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Quoting REAL PERSON
Bo-
With your kind words, I just mustered up the courage to check my credit score. I haven't finished going through your website, but I checked through Transunion and I scored a 685.
In your estimate, is this a good score?
You have done me-and others-such a service. I thank you from the bottom of my heart. Also-in your opinion-I have a school loan of about 8K that I could pay outright. Would you suggest that to increase my score? And if I did that, what kind of points would I gain?
Thank you again!
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685 is SWEEEET brother
and the loan could help you 10-20 points if your balance is 8 and your total high credit is less than 10 meaning any account you drop to less than 80% against high credit will help your score.
685.....whew that's high cotton. It is very hard to get higher than 740 which is super premium gold
Don't you feel good now that credit is your friend
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this mysterious creditor is nameless. I have no way to contact them

Quoting REAL PERSON

Good Morning,
I recently decided to use my car as collateral for a consolidation loan. I thought my credit score wasl around 640, when I heard 605 I was shocked. The bank manager let me know it appeared to be from a medical bill last fall. I have insurance. I have no idea where it came from or why. The main problem is this mysterious creditor is nameless, therefore I have no way to contact them or give them my insurance information. The only thing available is three numbers and a bunch of stars. 491***, its only listed for 1 month then nothing. Does that mean, (seems obvious the more I talk about it), that my credit suffers because they either payed the bill late or were never notified of one? Thats not right.

Next I would like to know how negative the effect may be on my credit if I do receive a consolidation loan with the title of my car? Its still worth $12,000, has 50,000 miles of high quality warranty remaining, looks and runs great and is fun to drive. Plus it is payed for and its mine. I really don't want to sell it if I don't have too.
I always figure theres a brighter day somewhere in the future.
Thanks,
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dispute the record with my free dispute form.
if you do not know which bureau has the record dispute at all 3
you will be contacted withing 40 days with info about the negative credit error.

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Collection under a different account & five year newer date

Dear Bo,
You have an awesome site!

What if I have a collection account that has been paid, and has been updated as such on my report, but a credit card company has bought the original account (before it was paid), and reopened it under a different account and five year newer date.
Thanks
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very common
super common
extremely common

what are our rights? I gues is the question.
Consumers would argue inherent flaws cheating
Creditors would arugue needed relif from deadbeat consumers.

Whos is right
how do we find out
and if the later how can consumers change it
if the former what legal grounds stand behind consmers change it

if the later how can creditors ever make a business model work
if the later quite the same as the former.

Ask the BBB, The FTC, and Bo is guess. Bo cannot give you a perfect answer to this common question and reporting technique.

My personal opinion is the 7 year rule should stand under all conditions other than a consumer who makes payments or something which could be contrued 2 ways. date of last activity "last payments" being the start date for 7. OR being able to get the mark removed if you pay as agreed on collections or any account.
Bo's work # 31-454-0660
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Frustrating work to contact credit bureaus

Bo,
Thanks they really make fixing your credit or finding out what is gogin on a pain in the ... thanx for making the site and putting the numbers up it saves waiting for a reply back from georgia lol later
Jim

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I paid ANOTHER company and they did NOTHING can a bankruptcy be removed?

I have read your website but Im still so confused!!!! How do I get things off my credit report? I have already paid $$$$$$$$$$ I KNOW I KNOW STUPID
HELP
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Bobo Majors 10/17/05 03:39PM >>>
paid does mean removal
it means paid
removal means mistakes or 7 to 10 years old
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I mean I paid ANOTHER company and they did NOTHING...can a bankruptcy be removed?
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Bobo Majors 10/18/05 10:50AM >>>
no a bk can not be removed and it will stay on record for 10 years
and all the items included will remain for 7 years
unless you are lucky
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Quoting REAL PERSON
Well thats answers that because IM NOT LUCKY LOL I talked to a company and they said they can remove it?
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Bobo Majors 10/18/05 11:38AM
you might try to dispute all the bad records as they get older
2-5 years and some companies go out of business
some purge old records
some just move and can not be contacted
keep trying on the dispute end over time
you are not your credit or bank account
you are a living creature and have value
do not get too depressed over money
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Quoting REAL PERSON

Well its just so hard to get a new car, refine a house or get ANY credit because of it!
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money now has become your credit
you are like me i suppose
and money is not just lying around

but you can get a 3-5 thousand dollar car with 1500 down for sure
refinancing a house can be done
but it won't generate the esults you are looking for it sounds like to me

931-454-0660 w

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I corrected mistakes but my credit score remained the same

Quoting REAL PERSON
I recently (3 months ago) got a mortgage. My score was about 620 at the time & I had 2 incorrect issues on my credit report. I have since taken care of both (charge off/tax lien). I went to get my free report today from annualcreditreport.com, and while the information was now correct, my credit score remained the same. Any suggestions?

Reduce balances to below 80% of high credit
Make timely payments for 2 solid years

931-454-0660 w
www.oskie.com/equifaxtransunionexperiancredit.htm Credit help
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I contacted an attorney to solve credit errors

Quoting REAL PERSON
I've been reading your inquiries and I need your help. Here I have contacted an attorney to solve my issues when all I really needed was your e-mail.
I have three creditors. IC Systems who I paid off in 10/2002 although I paid them off in 10/2002 the company never showed up on my credit report until 3/2003 and 6/2005. When I disputed the account on Equifax they removed it stating they had the wrong
social security number, which was a lie. I've been going back and forth with them to update the dates on my credit report, they refuse and my lawyer (lack thereof) has said it's pointless to dispute it through him all I asked him to do was prepare a letter. How can I ensure that they update the dates on my credit report to reflect accurate reporting?
First Premier Bank, I settled for a lesser amount and yet they won't update the current status to just Settled Account and leave the other junk off, is there a way I can get them to do this, again my lawyer refused.
I read on the internet how lawyers can settle accounts for their removal, is this possible, have you heard about this and is there literature on things like this happening?
REAL PERSON
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there are tons and tons of
creditors
consumers
credit issues
reporting issues
put these together and what we have a lottery.
anything might work at any time with any creditor about any issue
i would say the lawyer handles only law issues no credit issues
in fact a consumer is the only rightful disputer
all things must go through a REAL PERSON
use my dispute form
if you feel the shaft is on you
try lexington law
it couldn't hurt.

i will say that just becuase one files bankruptcy
settles and account
pays off a collection
does not mean they are entitled to have all the other real life credit problems taken off. If you did;nt pay a credit card. they charged you to collection and then you settled. It does not mean the bill did not get late or that it was not sent to collections. I think many people believe once they pay that all past negatives go away. It's kind of like the thing I here every day. I have great credit. Sure you paid them off but look how many times you were late. There is way more than just paying someone off to good credit.

I not saying any of this applys to you. These are only things I see day in and day out.

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