How to safely use Cash Advance

How to Safely Use a Cash Advance

Cash Advances can be helpful or detrimental to your budget. Do you have a large bill, or several smaller bills, that need to be paid this week, but you don’t get paid until next week? Maybe you splurged on groceries this week, thinking that your husband made the necessary credit card payment, only to realize that you were supposed to pay it. Now, since you bought groceries, you don’t have the money to make the credit card payment this week, but you’ll have it next week. You could apply for a cash advance instead of waiting until next week and racking up a late fee.

Cash advances can get you out of a tight pickle and can also help you avoid credit problems. Taking out a cash advance won’t affect your credit score as long as you pay it off, but making a late credit card or mortgage payment, or missing a payment, will in fact harm your credit score. In the long run, a low credit score can prevent you from buying a car or even a house. In the short scheme of things, missing a rent payment could get you evicted from your residence, which is obviously detrimental to you.

Cash advances can help you when you are in temporary financial need, but they also come with their risks. To avoid these risks, always borrow responsibility when it comes to cash advances. Think of your budget and figure out how much money you can afford to borrow. Don’t forget to account for the interest charges that come with the payday loan, also. Shop around for the lowest interest rate, and take your time making a decision. Don’t borrow more than you can afford to pay back with your next paycheck, or you could end up paying hundreds of dollars more than you ever intended.

If you borrow wisely, and stick to your budget as best as possible, a cash advance, or payday loan, shouldn’t get you into too much trouble. But also weigh the consequences. For instance, if missing a rent payment will get you evicted, perhaps it’s worth going into debt for a few months if you borrow more than you can technically afford. Figure out what’s important to you before you borrow, and be wise.

I am trying to get a loan to pay off old charge offs.

Real Live Human Being / to me / show details / Apr 13
Bo:
I have been trying to get a small loan to pay off old charge offs that has been on my report for over 7 years, what is happening, they seem to keep getting renewed. Do you know how I can go about of paying off these old charge off collections. Will it do any good to pay them off or leave them on. I am wanting to purchase a house in the near future, my credit score is low, 479
Real Live Human
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Bo Majors / to Real Live Person / show details /
You have to get new good credit.
Then negotiate on the debts
read this.
http://www.oskie.com/how-i-get-paid-collection-collections-account-removed-credit-report-completely.htm

Collection demanding 258.56 payment on an account they purchased but it is not mine.

Real Person / to me / show details / Apr 13
I recently received a letter from them demanding $258.56 for payment of an account they recently purchased. I have a perfect credit rating and have never owed anyone this amount of money. Looking at MCM on the internet, they seem to be 99% crooked. How do you fight them? An attorney would cost more than the amount they are asking for which is probably part of their plan. From what I’ve read, once you pay them to get rid of them, they continue to come after you with other allegations.
Real Person
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Bo Majors / to Live Human / show details / Apr 13
http://www.oskie.com/how-i-get-paid-collection-collections-account-removed-credit-report-completely.htm
get a certified debt validation letter

Ex wife and divorce said she must pay and the creditors are reprting me as late when is is her credit based on the divorce.

Real Person / to me / show details / 4/17/06
Hi. I pulled my credit report last Friday and about had a stroke.

I have items on my credit report that belong to my ex-wife. When we divorced 4 years ago, she was to take half the credit card and be responsible for them. I took the other half. We were both to remove the other's name from the card. There are several cards that she just closed and they have zero balance. There are several that she closed and and is still paying on. AND there are several that are still open and have lots of 30, 60 and 90 day lates on them. My credit score is plummeting. I talked to Wells Fargo Bank, who the cards belong to, and they will not remove my name even though the court decree says that she has to. On the two worst cards, she owes $10,000 and $3,000. I feel hostage here. Help!

We originally opened this account un 1983. My credit score right now is sitting at 620!

Bo Majors / to Real Person about to have a stroke / show details / Apr 13
That is the plight of a cosigner.
Consult your attorney but do not expect help from creditors.
Very Common I might add. Sorry

Here are the best steps to getting my wife off my credit report.
1. Any account you can close that has both names on it close now.
2. Sell any dual owed property that has both names on the loans.
3. Add a comment 50-100 words showing which accounts have both names but were assigned to your spouse in the divorce decree.

Low credit score is keeping us from buying a home. How do I get approved and raise my score?

Husband and Wife / to me / show details / Apr 10
Dear Mr. Majors,

My husband and I are getting ready to apply for a home loan, his credit score is thur Equifax is 595 and the other two report it as 601 we know that it is not a very good score to try and buy a home with. I was wondering if you could give us some advise on a company we could apply with, having a bad score like he does. We filled bankruptcy and it was discharged in May of 1999. After making it pretty good for a while (3 years or so) and started to get our credit built back up he lost his job. We didn't even see it coming he came home on a Monday and said that his last day was Thursday. There goes our credit again. He has a good job now and 601 is the highest we can get our score up, because he has 2 credit cards that is way past due and they don't want to work with us. We've wrote them letters saying we would like to make the wrong, right and one of them we haven't even heard from. I've received calls from collection agencies but they want talk to me and my husband sleeps all day (he works 3rd shift) so there is nothing we can do about those. They want even give me a number to have him call back and it don't show on his credit report as in collections. But it will give it time. On his report it just shows way past due. I'm scared of applying for and home loan and get turned down and on top of that when they check his credit score that will make it go down. Then I have to try again. I just don't want to apply again and again and all the time it is bring his score down. Please if you don't mind to help us out and get us going in the right direction.

Thank You and God Bless

Live Human
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Bo Majors / to Real Person / show details / Apr 11
Look for owner financing. MANY homes have owners that will finance for people that have good jobs. Ask around. Ask a few banks. Ask a realtor. Get into and you will be earning equity.
One has to pay the credit cards somehow someway. Negotiate to lower the balance and pay. In the mean time one needs 3 open lines of credit. i suggest getting a gas card, a regular card and a small loan that all report to bureaus. If they will not apporove you give them collateral like money mabye for the cards and a car or something for the small loan.
In 2 years your scores will be in the 650's plus.

Divorce in 2002 gave me bad credit. Should I settle or pay accounts?

Real Person / to me / show details / 2/9/06
I have very bad credit now after adivorce 2002. I now have the money to fix it and would like to pay them but they are all in collection agency now. They don't negociate at all. Since I have bad credit anyways with the 10,000 debt should I pay them in full or settle with a amount. I have opened a secured bank card and plan on trying to rebuild but they have written off my old stuff. Should I just settle for and pay some of the bill with them since they won't erase the wo from my credit
pls give me some advice thank you

oh I already got my crd report and disputed the items
Real Person
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Bo Majors / to Live Human / show details / Apr 8
Sounds to me like.......i would settle only with the agreement that if you pay say 30% 40% whatever it is, that they report settlement accepted and paid. After payments are complete.
I would NOT pay in full if they refuse to remove the account completely. I would concentrate on opening and maintaning new good reported credit. Make sure any new credit is reported. Use some of your money as collatral if needed but use as little as possible.

The new good credit will help you more than the old bad credit in most cases

I cleaned up a collection and now thery are reporting it again by another collection company. Is this legal?

Live Human Being / to me / show details / Apr 8
Hello Bo,
I have come across your Website and I would like to ask you a question about Collection. I had cleaned up a collection I had on my credit report. I disputed with the credit reporting agencies, (Experian, Equifax and TransUnion). After the 30-45 day waiting period the collection and or Creditor did not respond to the dispute, therefore it was removed from my credit reports. All that happened in October 2006.
Cavalry (www.cavalryportfolioservices.com) stating that they purchased that Account from Sprint PCS, which is the one that was removed 6 months prior by not responding to the dispute.

Is it legal that they can do that? Can you please advise me on how to proceed? Is that common that they just keep sending and or selling that account around for years to come?

I greatly appreciate you help and service.

Real Person
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Bo Majors / to George / show details / Apr 8
http://www.oskie.com/how-i-get-paid-collection-collections-account-removed-credit-report-completely.htm
Have em validate the debt.
Most times this makes the rats hide in the basement.

Capital One Credit Cards. Cap One.

Live Human Being / to me / show details / Apr 8
Bo,
Thanks for the service you are doing for everyone. I have two questions:
1. In your information you say stay away from Capitol One Credit cards and that one should try to re-establish credit with existing credit card company. I have a Cap One card that is now in collection and I am paying the balance now which will be paid in full in May. Which is my best approach to my credit concerning this matter, get a new card or try to re-establish Cap One?
2. I am coming off a 7 year stint with a Chapter 7 bankruptcy which has long been discharged but is going off my credit report in May. How much or will my credit score increase when the Chapter 7 drops?
Real Person
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Bo Majors / to Real Live Human Being / show details / Apr 8
1. get another card period.
2. After 7 years your credit should already be established and current, resulting in no noticable net difference in your score. 2 years back from today is weighted heavily on the score factor.

Get my accounts to reflect positive or good credit.

Live Human Being / to me / show details / Apr 4
Hello:
I've found your website while searching for resources as I repair my credit. Thank you for your assistance thus far. Your resources are wonderful. I have a few accounts that I need additional help with removing or getting into a positive rating. These accounts don't necessarily have a high balance - my concern is making sure that theu get reflected in a positive way.
Account One
1. type account
Installment Account2. how old
4/20033. payments made
Charged Off - Derogatory4. your credit score
565
This account balance is $1022 and interest is accruing. offered me a settlement of 30% will report settled, in full

Account Two
1. type accountCollection Account
2. how old
10/2006 (was sold) Account is much older but that's what is listed on report3. payments made
None - Derogatory4. your credit score
565
Balance is 116.93
Won't report to credit agencies or provide written confirmation that debt was paid in full or as agreed

Account Three
1. type account
Collection Account2. how old12/20043. paymnts made
None Derogatory4. your credit score
565
Balance is $149
Will report paid as agreed if paid in full

I would like your advice on how you think I should proceed? I appreciate any advice.

Thank you,

Live Human Being
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Bo Majors / to Real Person / show details / Apr 4
I would take deal one fast
I would use my dispute form and say not my account.
Same thing for the 149
Keep three good credit lines open.

I wrote a letter trying to negotiate with a creditor and have no response after 3 weeks.

Real Live Human Being / to me / show details / Apr 2
Hi Bo, I would just like to say thank you for you website on raising the credit score. I wrote a letter to a creditor negotiating a payment plan and it's been almost three weeks now and I have heard no response. Should go ahead and make the payments on the account the way I set it up or should I continue to wait. I left them my phone number and address but I got no response. What should I do? Thank you
Living Person
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Bo Majors / to Live Human Being / show details / Apr 3
Try again before you pay.
Get something in writing

If I contact a lender and offer re payment on charged off account does that start my sevn years over again

Live Human Being / to me / show details / Apr 2
My name is Tim, If I contact a lender to offer repayment on charged-off accounts, does that start my seven years over again.
Live Human
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Bo Majors / to Live Human / show details / Apr 2
Not until some action is taken like a payment.
Even then sometimes dates can be frozen if you negotiate and pay. They can do this but may say they cannot. All they have to do is post the payment and use a back date equal to the date of last activity on your acount listed on your report.

Jc Penny is being reported after ten years. Tax lien is also reporting

Live Human / to me / show details / Apr 1
Hi Bo,
My name is Wanda. I am trying to clean up my credit file. I notice on my report and have an old JC Penny's credit card that was paid off in 1997 but the creditor is still reporting this to the all three credit bureaus. Also, I had a State tax lien which has been paid in full. On my credit file it state "paid in full" but how long does this stay on my credit?
Please email me back at your convience.
Thank you very much.
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Bo Majors / to Live Human / show details / Apr 1
The jc penny should be disputed as old AND INACCURATE
State tax laws vary on length of credit stays. but ten years is a max after payout

Closing credit card accounts can hurt my score

Live Human / to me / show details /
Hi Bo,I didn't know that closing an account could lower my score, and I closed two accounts. It lowered my score 38 ponts! What can I do now? Can I re-open the cancelled cards? (I think one was from citibank). Or should I accept the next american express card or other offer that I get, as opposed to asking for the card? What about raising my credit limit on my existing card? I have no balance on my card, I pay it off every month. I have only one major card now and various store credit cards, all with zero balance. Thanks for your advice. Live Human
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Bo Majors / to Live Human / show details
Closing and account that has no balance should not hurt your score at all.
If this is the case something else is up.
Since accounts need to be open 1 year to get a rating for your score it is usually quicker and more helpful to re open than to start from scratch.
Something else is up I think.
http://www.oskie.com/raise_credit_score_fast_quickly_free.htm

I paid off my loan early and it shows paid of on my report but my score is the same?

Live Human / to me / show details / Mar 30
My Old Credit Score is 658. I recently Paid off a Bank Installmant sales Contract or Loan in the Amount of $9,720. I even paid it off 2 and half years Early. I looked at my Credit Score Online. And it shows the Loan to be Paid Off/Satisfactory. But my Credit Score is still at 658 and hasn't changed at all. Why is this? How long after the Loan shows to be Paid off will my credit score be Raised? Or should it have been raised as soon as it showed to be Paid off then? Should a Credit Score raise a Soon as it shows on your report to be paid off or does it take a while?

Thanks Bo for your Help I appreeciate it.

Live Human
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Bo Majors / to Live Human / show details / Mar 30
If you have been paying on the debt awhile and you already owed less than 80% against your original loan limit the change in your score will be of little consequence as far as scores go.
Or you may have paid the loan off before a full year elapsed and received no help on your because the loan was not a rated loan due to less than one year old.

Capital one is hurting my credit report score

Live Human / to me / show details / Mar 28
Hi Bo-
Let me just say I’m very impressed with your credit help site. My husband and I have diligently been working at raising our credit. In September we pulled a 620-630 credit score. About 5 months ago we started using our capital one card for gas & groceries. I pay the card off every month. We are ready to jump on the home band wagon and were really excited to pull our credit. Thinking it was about 690-710. Boy was I surprised. We both came in about 595. I have been consumed with getting this taken care of. I have been reading about how bad Capital One is for your credit score because of their failure to put your available balance on your reports. I hate being on this end of a lesson. Here we thought we were doing the right thing to get ahead. The first step I did was contact Capital One and tell them I’m disputing our $0 available balance on the credit report. They will file a dispute and send me a letter in 10 days. I will contact the credit bureaus also.

The other question I have is, how do I remove things on my credit that are more than 7 years old? I was told to write a letter to each creditor letting them know we are purchasing a house and would like this item removed. The worst I have on record is 30-60 days delinquency 4-7 years ago. I think I’m a good candidate to remove these items.

Any help you can provide would be greatly appreciated!!

I look forward to your response!

Thanks!
Live Human
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Bo Majors / to Live Human / show details / Mar 28
http://www.oskie.com/credit-dispute.htm

Dispute the old stuff

Just get another card than a Capital One

are secured crdit cards good for my credit report score

Live Human / to me / show details / Mar 27
Hello,
I would like to know if Secured Credits Cards are good for my credit report score. I will have to put a deposit down, but they say they report to 3 credit bureaus. The company is New Milleneum Bank.
Please advise
Live Human
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Bo Majors / to Live Human / show details / Mar 27
If they report to the major credit bureaus it is good. So YES!
After 1 to 2 years get approved for a unsecured card that reports.

Collection being re reported much later than orginal collection

Live Human / to me / show details / Mar 25
I was wondering something, if a recycled collection account appears on my credit report after having it removed and now is w/ a new company. How exactly do I dispute that. It is being reported as if it is from 2006 but infact is from 2001.

Thank you,

Live Human
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Bo Majors / Live Human / show details / Mar 25
http://www.oskie.com/how-i-get-paid-collection-collections-account-removed-credit-report-completely.htm

Need charge offs and late payments removed from my report

Live Human / to me / show details
Hello Bo, I have contacted you before, months back. I am trying to repair my credit in order to get approved for a mortgage at a good rate. I have two charge offs on my credit which have been paid off. I have letters from the collectors , stating paid in full. What do i do now. I would like the charge offs to be removed from my credit. Was wondering how to go about that. Also have a circuit city visa card that has a zero balance but a few late payments. When i contacted them about it they refused to remove them as it would be false information on my credit. If you have any help for me please inform me. Also i closed one credit card that was charging me a monthly fee (Fix your credit type card). I am looking to apply for a new card, but want to make sure my credit is up to par. Please email me back when you get a chance. Thank You

To Live Human / From Bo Majors /
The charge off will stay on your credit as you [aid them before you negotiated to have them removed so forget that whole thing.

i would try to re open the circuit city thing and establish new good credit. Takes one yr.

if the company that charged you a fee is reporting to bureaus i would keep it open for a 2 year minimum
Read This Page on Credit Help Negotiation.

Old collections are hurting my credit. They are past 7 years old.

Live Human / to me / show details / Mar 19
Hi Bo,
I came across your web site looking for credit help because I have paid several people for help in the past two years and nothing has changed! I have wasted a lot of time and money and now I want to help myself!!! I recently pulled all three reports and found that everything on my report has been re-dated to the current month! It is all old collections some even past seven years! How do these collection agency’s come to the date of last activity? If I tried to validate the collection should this have happened? This was the only think I’ve done in the past couple of years. How can I get them to put the correct date of last activity if validating should not have played a part? Help!!!!

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Bo Majors / to Live Human / show details / Mar 19
You need new and current credit if that is theonly thing youve done in the past couple of years.
Not sure how to answer the rest
7 years is 7 years and if you paid them off or negotiated with them 2 years ago things should be about right by now with new current good credit.
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Live Human / to me / show details / Mar 19
WOW!!! Thanks for such a quick response. I will try that!!! I do not have any new or current credit right now!

Will I lose my bargaining power if I send a letter to negotiate with a good faith payment

Will I lose my barganing power if I send a letter to negotiate with a good faith payment?
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Bo Majors / to Live Human / show details / Mar 17
negotiate first
pay after
YES

Paid origianl creditor and a collection agency filed on my report

Live Human / to me / show details / Mar 16
My Credit scores are TR 588, EX 611, EQ 586. In 2003 I had a hospital bill for $177 that was just about to go into collections I negotiated with original Creditor to pay $59 for 3 months - Paid to original creditor. Immediately after I made all 3 payments I began receiving letters from the Collection Agency I have had conversations via telephone and fax with them informing them that I had paid debt to original creditor. This account remains on my credit report only for Experian (negatively) under collection accounts as "Paid" What can I do to have this removed and if so will this make a difference in my score? Can I write to NCO to ask for the account to be deleted?

Thanks so much for your website.
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Bo Majors / to Live Human / show details / Mar 16
One almost always needs to negotiate before payments are made.
You have very little to go on
BUT
The collections agency should not be able to report something they haven't collected on
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Live Human / to me / show details / Mar 17
Thank you so much for your help....You are awesome! Who should I send a letter to NCO (Collection Agency) and tell them just that...or do I leave it alone and what would I say to NCO what is the law on that.
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Bo Majors / to Live Human / show details / Mar 17
http://www.oskie.com/how-i-get-paid-collection-collections-account-removed-credit-report-completely.htm

What is the best wording i can use when disputing a mortgage late on my credit report/

Live Human / to me / show details / Mar 14
Hi! What is the best wording i can use when disputing a mortgage late on my credit report for the month of January 2007. Please adv
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Bo Majors
to Live Human / show details / Mar 15
Call the mortgage company and negotiate with them.
Best way

Opened best buy credit and paid it off and have a zero balance. they say we still owe money.

Live Human / to me / show details / Mar 14
Bo,
Great site - not sure if you take emails anymore. I read through most of your site however I am not sure how to tackle the below.
1) Type of Account - Revolving credit via Best Buy via HSBC. 2) How old - August 05 3) Payments made - All of them/12? 4) Credit Score - 713
Basically we opened an 18 month interest free account for $3600 at Best Buy. We paid it off before the 18 month expiration and currently have a zero balance. Here's where it gets weird. Equifax has us down for an account where the first seven numbers are not ours, but the last nine are from our paid off account. They are saying we still owe $2378 on this other account. I called HSBC and they only have us on one account and it's zero.
Not sure where to go from here to prove that the other account doesn't exist or if it does, it's not mine.
Any help appreciated.
Live Human
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Bo Majors / Live Human / show details / Mar 14
Who says you owe money Equifax?
I would just dispute the record as not mine.
713 is a great score already but one needs to find out about debts in dispute so it does not go down.

19 closed accounts on my credit report we paid off will it hurt my score

Live Human / to me / show details / Mar 12
Hello,I stumbled upon your website and liked what i was reading and thought you could give me some advice. I have 19 closed accounts on my credit report including accounts we paid off when we refinanced,do these closed accounts hurt my credit score,accounts include mortgage,loans,etc.... 17 of the 19 are reported as pays as agrees and zero balance,a couple our from 1997 and 1999,and 2 are credit cards and they are reporting as a charge off,settled account.Should any of these be taking of my credit report to get my score higher?
My score is 480 on my equifax report,i had lost my job and recently had fallen behind on my mortgage,ford credit, and a loan plus 2 credit cards. My house,loan,and one credit card will be paid up this month,how much will this help my score? We want to refinance and was told we need to get over a 500 to do so and paying these up would do that,but if i can get my score in the 600's and it takes me a little longer to get a loan thats what i would like to do. thank you for your time,ant info will be appreciated.
Live Human
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Bo Majors / Live Human / show details / Mar 13
Sounds like you arer wrecked enough to not expect miracles quickly.
Closing does not hurt your score unless you do not have three open and current reported loan or cards.
500 is a very low score and you chave serious problem, but possible the best chance to make better.
The mortgage and Ford will hurt for a long time and are practically not helpable unless you catch bad credit right as it is happening.

keep three open credit lines.
pay off and get current everything reasonable.
2 years from now your scores will be very good
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Live Human / to me / show details / Mar 14
Thanks for the advice,the mortgage guy said the same thing,but in a month we'll be paid up on everything so hopefully we can get this back on track.

Trying to raise my score with double hits on past bad credit

Live Human / to me / show details / Mar 9
Hi Bo!I'm so glad I found your website. I could really use your expert advise. Here are my questions: My credit scores are very low (663, 688, 693). I noticed that on the 663credit report, there is an accurate charge off for a very old cell phonebill. The creditor listed is not who probably ownes the debt at this time. How do I go about finding out who has the debt so I can pay it off??? My other 2 reports do not show this collection. 2 of my reports show a charge off debt originating from Sears, then sold toLivingFund. I did negotiate a payoff with LivingFund and they promised tomark me as paid in full. They did NOT do this. Additionaly, both the Searschargoff and LivingFund (both are the same debt amount) show on my creditreport. Am I being hit twice for the same bad debt???? I have been making all credit card payments on time, and more times than not, pay in full. At this time I have a few small department store cards and 3 major cards: Discover ($118 balance - $4400 credit limit/used to be$7200 but dropped me down due to old payment history) Chase Vise ($0balance - $1300 credit limit) and Capital One MasterCard ($0 balance - $998limit). I also have a checking account Visa, but that never generates abill, it's automatically deducted from my checking everytime I use the card. All my past late payments, collections, etc is all accurate. I'm jsut very concerned about the fact that the one collection agency lied about how they would report our negotiation, as well as the fact that the collection agency shows up along with the original creditor who wrote the debt off. I would think this is a double hit! Please advise me on the best wy to go forth so that I can raise my score, as I am shopping for mortgages and would like to correct all I can. Thank so much!
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Bo Majors / to Live Human / show details / Mar 9
your scores are not " very low "
your scores are great.
yes everything you said will help
but dont sweat it man your 663 +
just make your payments any your a ok

I have had success removeing errors with transunion and equifax but Experian is violating my rights

Live Human / to me / show details / Mar 9
Hello Bo,

Quick question,
I have had success removing False or old information from Equifax and Trans Union, however Experian will not remove anything I send them.

They also have my name listed 10 times, 10 different ways on my report .And I only get bills on one name. I have read they are the worst to deal with.

Any Idea’s on how to play hardball with them?

Real Live Human
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Bo Majors / To Real Live Human / show details / Mar 9
Of course dispute any error period.
Keep copies of your disputes.
Go to the BBB or FTC if you can't resolve.
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Bo Majors / Live Human / to Don / show details / Mar 9
takes 15 to 30 days

Car loans and mortgage loans shows late payments and i have closed many credit cards

Real Live Human / to me / show details / Mar 7
Dear Bo:First of all, thank you so very much for your self-help advice on credit reports. It is extremely helpful and timely for me. I want to purchase a home with my fiance and wish to get pre-qualified first from a lender.I sent for my free credit reports from the government suggested cite and learned that my score in Equifax is 620 and in Experian is 680. I have several credit cards that I do not use that were listed on my credit report--something like 8 of them. I went ahead and cancelled all these cards thinking it would work against me to have so many credit cards on my report. Now I understand that that was a mistake. Can I re-open an account without it showing up as a new account? Is it worth trying to do this?Also, I had a bad debt of $86 listed on my account from an unpaid medical bill that was the result of the insurance company going to my former employer and finding that my dependent whose care this concerned, was listed as terminated from my insurance. At the time, I sent a letter to the insurance company to that affect and they said they would reprocess this. They must not have because the debt now sits on my credit account. To avoid any further threats to my score, I went ahead and paid the amount -- $80. The credit collection agency (Nationwide Credit) said they would report that the case is closed to the credit bureau. Does this mean that it will actually be removed or do I need to do something further to insure this gets done.Lastly, yes, I do have some late payments on both my mortgage (probably 1) and my car (probably 1). Is there anything I can do to mitigate the negative impact of that on my score.Thank you again for your great service to regular folks like me.Sincerely,
Real Person
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Bo Majors / Live Human / show details / Mar 7
yes to number One, you can re open the same account
Will show up as paid collection. 2 years from date of last activity that in and of itself will be meaningless.
Car and mortgage stuff has to be caught "as happening" to get changes done
- Show quoted text -
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Live Human / to me / show details / Mar 8
Thank you, Bo. I truly appreciate your help and your service to all of us!

I am looking to re-establish my credit history

Real Person / to me / show details / Mar 7
Equifax-630 Experian-630 TransUnion-680I had a few collection accounts that recently dropped off my credit reports after the 7 years expired. I still have one remaining collection account for the amt of $695 which is set to expire in June of this year. I currently have no open credit accounts and am looking to re-establish my credit history. At this point, I am on the fence as to whether I should simply go the secured credit card route or actually wait until June when my report will be clean. I also have 2-3 old credit card accounts in good standing that were closed quite some time ago. I only worry that the reporting period will expire prior to my opening enough new accounts and getting my score up into the mid 700's. Thanks in advance.
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Bo Majors / Real Person / show details / Mar 7
your one year away from having a good score because there are no open and rated (1 year) credit lines on your reports. Open credit cards, or past cards, at least three, and wait for one year.

Bankruptcy from 30 years ago hurting my credit still

Real live Human / to me / show details / Mar 4
Hi – I have perhaps the strangest question you have ever received. II filed for a bankruptcy in 1974 (32 years ago). I have been turned down for credit at American Express because they say I have a balance of over $2,000 left over from that bankruptcy. I was under the bankruptcy for almost 3 years and then came out from under it, made arrangements to pay each and every creditor off and did so. Unfortunately I do not have records to prove this as it happened 32 years ago. Today, credit is Excellent. I have had 2 – 30 day late’s in the last 10 years or more. Do you have any idea what I can do to get them to give me a credit card. I am unwilling to pay $2,000 to get a credit card and that is what they say I must do. I want this credit card because it is the only one you can use at our local Costco stores.

I am in the process of updating my free credit reports and have learned the importance of staying on top of it monthly and will be joining your service as soon as I do get it updated in the next 30-60 days. Any advice you can give me would be appreciated.
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Bo Majors
to Real Person show details Mar 4
2000 from 32 years ago is not supposed to happen
something else must be up
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Real Person / to me / show details / Mar 4
Hi maybe this is not supposed to happen but it has. I have not had credit with American Express since the bankruptcy in 1974. In fact that is the company that I felt forced me into bankruptcy 32 years ago. They have the date right when the bankruptcy was filed and absolutely say I cannot get a credit card unless I pay the outstanding balance. I apply for credit with them about every 2 months just for the heck of it and they always turn me down. When I inquire, they always give the same above reason. Is there anyway I can force the issue that they cannot turn me down simply based on a bankruptcy that is 32 years old. This is not a joke. I am totally sincere in this. I want the credit card so I can use it at Costco and I guess it is just sort of the principle of the whole thing. You are welcome to call me collect at 206-794-1996 if you have any questions. I am a 67 retired school teacher and have guarded my credit so strongly ever since that bankruptcy. I am completely sincere in asking you if there is anything I can do. It is the strangest thing I have ever run across. I have no credit card debt, own 2 homes and make over 60,000 a year and none of that seems to make any difference. Thanks for any info you can give that may help me. Donna
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Bo Majors / to Real Person / show details / Mar 4
That sounds right for getting credit with them
But the account is not on your report
So Ok I understand
If you want credit with them then pay them what you owe them fast and beg.

Wondering what impact unemployed has on my credit score.

Real Live Human / to me / show details / Mar 4
Hello
I got flipped around on your website, redirected to transunion(wouldn't let me log in, then couldn't get through on phone!!!), I am wondering what the impact of not being employed (full-time student) has on my credit score. Will this increase dramatically once I graduate and become employed? I know my debt-to-income ratio will, how will this affect my credit score? Also, what about accounts that are over 5 years old and still not paid? Should I negotiate with these creditors to pay and have this removed? How long will it take for them to reage or remove ususally? thanks Real Person
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Bo Majors
to RP / show details / Mar 4
Has no effect at all
bank account, job, nothing
only credit related issues
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Real Person back to me / show details
kay, thanks. so what would you recommend to me if I have 3 collection accounts and 4 accounts (student loans) that are deferred until l2/07. Should I pay off these collections? I was told by citicreditmonitoring (accessed from you website) that this would actually lower my credit score by 8 points! How can I increase my credit score?
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Bo Majors / to real live person / details / Mar 4
Keep 3 open lines of credit and pay good for 1+ years
Do not get any more bad credit.
remove bad credit files if possible
pay off loans and debts

if paying the debt off only reduces your score 8 points I would do it just to say I did it.