Charge offs Collections sold and another account is on my report for the same thing.

I have several charge offs on my credit report that are over 4 years old. the original credit card company has since sold the debt to a collection agency, which showed up on my credit report, and in turn that collection company sold it to another, which again showed up on my credit report. so no my original debt of $1,000 now shows up three times with the most recent date being a few months ago. i've been told that as long as the debt continues to get sold, the "date" stays current, meaning that the 7 years for it to fall off keeps getting restarted. is this true? i thought that the date from the original date of default (which again, was 4 or 5 years ago) was the date that determined when it would fall off my credit report? help! otherwise, i'm doomed to continue having bad credit until i pay it, or file bankruptcy. by the way...i've had NO late payments, charge offs, etc. on my credit report in the last two years...it's been completely clean, and still sits at a 497.
------------------
you dont have any new current credit either
You need 2 years of it or at least 1
get new credit with the cards on my website for bad credit that reports to bureaus.
Pay the debt if you can.
Send this free-letter to the current collection agency.

after 2 years can a collection account be updated to new date of last activity and start the seven years over again?

I haveheard (and this could be incorrect) that dealing with old collection accounts can actually cause them to become current and hurt your present credit score. Is this correct? I have an account that is over 2 years old but still has a balance due. I realize the collection is not really effecting my score, but I know it will look better if I have it removed. If I contact this company can they restart the clock?

--------------------
They can and often do IF you do a payments plan.
Pay the whole thing off, and ask for no dates to be changed.
All you want is the account to show paid of in full.
So I would talk to them before I paid.

after 2 years can a collection account be updated to new date of last activity and start the seven years over again?

I do however have a question I could not find on the website. I have heard (and this could be incorrect) that dealing with old collection accounts can actually cause them to become current and hurt your present credit score. Is this correct? I have an account that is over 2 years old but still has a balance due. I realize the collection is not really affecting my score, but I know it will look better if I have it removed. If I contact this company can they restart the clock?

-----------------

cThey can and often do IF you do a payments plan.
Pay the whole thing off, and ask for no dates to be changed.
All you want is the account to show paid of in full.
So I would talk to them before I paid.

Credit card closed by creditor. Should I pay them off

I have a credit card that has been closed by the creditor but I still owe about $4,000 on it. If I pay it down, will this help my credit? What is the best way to proceed with this?
---------------------
It always helps to pay something down or off.

If you can, pay them off.
I would try to re open the card and after one year asked for the creditor to only report the last 12 months activity or too have the old lates removed.

Collection, Medial bill, Doctor bill

I moved a little over a year ago, and when I did I switched doctors. I recently checked my credit report as I am about to make a large purchase, and have a collection for $81 from my old doctor. I was never notified by phone or by mail that any amount was due, nor do I have any knowledge as to what the charges are for.

Can a doctor place a charge on my credit report without notifying me? I am trying to make a purchase ($100,000 for truck and RV) in the next 30 days and this could cost me several thousands of dollars in higher interest rates.
------------------------------------
They sure can and they did.
Happens thousands of times a day.
People move.
Doctor get wrong address.
Insurance never pics something up.
The only way they know to get the money is to put it on the credit report.
Negotiate and pay. Ask for removal and be willing to pay a fee of like 20.00 for the effort.
It is not worth hassleing over he said she said thee is 100.000 on the line.
Tell them that is they will send you a letter on company letterhead with a signature you will use it to update the credit report yourself by disputing it with this form
And the letter they send you.
Read this page.

Collection agancy pulled my credit without my consent

I got a phone call yesterday from a guy from a collections that is on my husband credit report,my first thought was how did he get my number when the phone number is UN- listed
i checked my husband credit report and this collections agency pulled his credit which will be there for 2 years cause it was a hard inquiry can they pull your credit this way with out your permission it was for a reposed Mobile home back in 2004
-------------------------
No
They can't
I need to find the legal doc for that
but that is against ftc law and they should remove it and any further debt.

On a scale of 1 to 10 what is the likelyness of a collection agency removing a charged-off account once paid in full. Who should I contact the original company, because they always refer you to the collection agency immediately. Shoulf I even becalling theses people because they are extremelyhostile at times.
----------------------
Once paid?
Nothing
Before paid 50 / 50

Inquiry

I was watching the news the other evening and saw that you could get a free credit report. So I called my local credit bureau and was told that if I got it from them that it would cost $15. But that I could get it online for free, so I did so. My printer is not working so I could not make a copy but I did notice an inquiry from an automobile dealership that I have never been in. That really bothered me. How could they pull my credit?? So then I went to the local credit bureau to get a copy and that inquiry did not show up. How could that be? The inquiry was dated 7/17/07.
Could you please help me with this? Just let me know what information you need.
PS
My credit rading is very good (over 800) and I would hate to have an idendity theft ruin what I have worked so hard to obtain.
-----------------
Different bureaus were pulled up
The inquiry in on one burea and not another
There are 3 credit bureaus
that any potential creditors might use and some use all 3
800?
Forget about an inquiry.
800? Gosh. You see those once in a blue moon at a car dealership.
YOU ARE NEON CREDIT PERSON. take a chill pill
If you think someone has your credit do this

Maxed out credit cards. How much will my score raise if I Pay them?

I have two credit cards that need to be paid off. The amount is about 700 dollars. How long will it take for my credit score to go up after I pay those off?
------------------
30 days or less if they are maxed and at least 1 year old
------------------
Do you know how many points it will increase? If its about 2 cc with about 400 each.
Thanks. Those are the only bad cc I have on my credit and they messed up my credit. I had some other ones on my credit report about 3 years ago, but I paid them off.
--------------------
i don't know your score now.
do you?
Do you have 3 open lines of credit now, that are at least 1-2 years old and with no late payments in the 1-2 year period?
--------------------
My score now for TransUnion is 579, experian 548 and equifax is 579. I still have 2 credit cards that I need to pay on which I am going to do this month. I have a car loan that I pay on I had one late payment. I have a store card that I always pay on time, and a student loan that I will start paying soon. The 2 credit Cards I think are killing me. One is capital one and one is a store charge card. I called to pay them off, and they told me they were going bankrupt so now they are trying to collect.
---------------------
Pay any collection or charge off after negotiation. Reopen same accounts if possible buy sending in up front payment so they trust you. Make sure the report to bureaus.You need three open reported lines of credit
Make sure balances are less than 80% of limit.
Close capital one and get another card here
Make on time payments for 1 to 2 years and your score will go to 700

bankruptcy, inquiries, fico, credit card

Dealership turned me down for having too many inquires on my credit report.
I received several letters in the mail saying I had been turned down for credit.
----------------
The letter are legal for putting a inquiry on your report.
How many inquiries?
I doubt anyone got turned down from too many inquiries.

The letters you got are from potential creditors the car company tried to get you finance with and they were turned down. So he was just fight to keep a deal with.

I would say incompetence is not the right term.
He either tried to get more interest usually capped by lenders at 2% percent max dealer increase. So at 14 percent all he could make was 2 % of loan interest. So the bank bought it for 12% they charge you 14 and make some money.

Usually this is not a bad deal as car dealers get better rates than the average guy.
I would contact a credit union
-----------------
Thanks for the quick reply,The credit report lists 15 separate inquiries from May 12th - May 15th, 12 checks on May 16th, the day of purchase.
If not incompetency, I suspect he was being vengeful for not accepting the 14%. (It seems to me any reputable dealership (this was Nissan) should have a better credit system check than this. ...) I see the way Capitol One is listed on the report and the "loan offer" was from Capitol One, and the credit denial letter from them clearly states the reason for denial as "Too many recent credit inquiries".
There was nothing negative or missed payments between my last FICO report from Oct 2006 and the recent one I just obtained. The loan was only for $5000.00, and I had planned to "flip" it over quickly in 6mos, If I "get rid of anything capitol one", dosen't it look bad closing a credit card acct? (Excellent payment history)
Also - When the bankruptcy goes off the report will my automatically credit improve? It's the only "negative" on my report.....
----------
Never make payments on something for only 6 months.
Rated has to be 12.
They probably worked on your credit right then that day to get you a better rate.
A person must tell them not to shotgun your credit. Mostly done with people on the margin of good and bad credit.
I doubt you have any recourse and many times a denial list menial items and they do not really tell you why. They didn;t want to do it so they came up with a decent reason. I am sure there are other reason they did not list on your denial letter. Nature of the business. I know. I sold cars for 12 years. Financed em. everything from top to bottom. -------

Inquiries, get hits on credit report removed deleted off

I have approx 10 hits on my report from gettting information on refinancing my home. I was just shopping for the rate and terms I wanted and no one would give that to me unless credit was checked.
One of them told me that those hits had to come off by owners request after 30 days if I did not use them to refinance.
Is this true, or some version of it? How do I get them off?
----------------------
If it is I appreciate knowing it, but it does not sound right.
On the other hand you might be able to dispute duplicates.
I am not sure how to find out even other than try.
So why don;t you try and let me know back
use
http://www.oskie.com/credit-dispute.htm
and tell your story about the mortgage guys statment
Might just add a 50 word or less letter along with the dispute form
state which ones you want off.

Charge offs, medical bills, collections, credit report

I have 2 charge off’s from Capital one and some medical bills in collection. The total is about 6,000 as listed on the credit report, and I would imagine it is several thousand higher with the interest that accrued since. My wife and I would like to settle and remove the items, we are just a little unsure about how to proceed. I have read much of your postings, and the steps seem quite logical as such. We have spoken to a local credit counseling agency, and they took the stand that none of these steps were feasible, and they only option we really had was to pay the debts in full; including all of the ridiculous interest that has accrued. My credit score is around 570 right now, and I would like to get it up into the 700’s in the next year or so, as we would like to get into a bigger house. Thanks for any help you can offer
-------------------------
I am not sure which steps are not feasible. But I promise they all work in some cases.
I would negotiate.

If all else fails do pay them if possible.
It is best to get some relief if you pay in full with fees such as TOTAL REMOVAL.
Most people get a 35 cents on the dollar for settlements.

I would talk to the creditors. Creditors can help the counselors can not.

Hello Bo, my name is real person, and I have 2 charge off’s from Capital one and some medical bills in collection. The total is about 6,000 as listed on the credit report, and I would imagine it is several thousand higher with the interest that accrued since. My wife and I would like to settle and remove the items, we are just a little unsure about how to proceed. I have read much of your postings, and the steps seem quite logical as such. We have spoken to a local credit counseling agency, and they took the stand that none of these steps were feasible, and they only option we really had was to pay the debts in full; including all of the ridiculous interest that has accrued. My credit score is around 570 right now, and I would like to get it up into the 700’s in the next year or so, as we would like to get into a bigger house. Thanks for any help you can offer

-------------------------

I am not sure which steps are not feasible. But I promise they all work in some cases.
I would negotiate.

If all else fails do pay them if possible.
It is best to get some relief if you pay in full with fees such as TOTAL REMOVAL.
Most people get a 35 cents on the dollar for settlements.

I would talk to the creditors. Creditors can help the counselors can not.

Score not high enough for a car lease approval.

The small print for a car lease requires a Beacon score of 740. Even with excellent credit almost no one meets this. Do you think that this is bait and switch?
--------------------
I sold cars for years.
Leases are like a 2 yr rental
The compnay always owns the car.
It requires more trust and therefor higher scores.
Of course it is a bait and switch. Almost all SALES are.

But alas all is good.
YOU DO NOT WANT TO LEASE A CAR

Here is some not asked for money advice to carry for life
buy a used car and keep it for 10 years
remember that
buy a used car and keep it for 10 years

This one approach will save a houshold more money than almost any one but of money advice that can be given
I use it.

You know what my boss used to tell me. Owner of a dealership for 20 years.
Buying new cars is for dummies. Smart people buy used cars.

Get bad credit removed and good credit added to my credit report

Is there anything that I can due to remove Paid in settlement/Accont charged off. I have three Negative items on my credit report. They were all opened in 1999 and paid off some years later, is there anything that I can do write letters etc.
----------------------
Probably not
you can dispute them as not yours or not reported correctly and hope.
Best to get new good credit and go on
-------------------------
I have established new good credit, but the bad old paided and charged off credit is probably what's causing my credit score to be around 615. All of my new accounts are in good standards, paid and never late. and I beleive in the state of Maryland, it takes 7 years from the time of the last activity for them to be removed.

What if I send in statements of why this had to happen, will that help my score?
--------------------------------
Lower credit limit ratios to less than 80%
are the acounts one year old yet?
2 years is where the big credit score damage is done.
------------------------
All old paid off accounts were opened in 1999, there are three of them, they have been paid off anywhere from 2 to 4 years

All new accounts are in very good standards. I only have one that is not a year old all other accounts are a year old.
-----------------------
The 99 accounts are not hurting you much
keep trucking.
---------------
Thanks, I guess what I need to know is what do I need to do to get my credit score up. Pay down my credit cards, which are between 80% to 100%, and that is only two accounts, but I do have a loan with my credit Union, which is around 5,000, other than that there is nothing else.
--------------------
pay them down yes
below 80%

Home repossessed about 10 years ago. need new good credit card.

I had a home repossessed about 10 years ago. I have about 6 years of solid employment and can't even get a credit card. I am very responsible now (wasn't then) and would like a second chance. What can I do?
------------------
Go Here and get started on new good credit.
If all else fails do this this.

Get all 3 credit scores at one place for less

I’m having a really difficult time getting my credit score from Equifax. I was able to get my score from TransUnion with no problem ($7.95) but I can’t seem to figure out Equifax without joining some program for $89.98.
-------------------
Get this Credit Offer
-------------------
You have already done more than most people
pay revovling credit down to less than 80%
keep 3 lines of good credit open for at least 1 and 2 is bestnegotiate anything you can.
Get bad credit removed
Dispute anything that doesn't look right. too old, extra extra
Universal Credit Dispute Form
My first credit help thing i did was pay off then reopen a BP Oil credit card. I sent them a downpayment to reopen the paid charge off acount. After one year I asked them to take off the bad charged off mark. They did.

Collections and debt validation, paid in full, pay in full

# 1) I have two accounts on my report, that have been forwarded to a Collector. I have had better response from the Creditor than theCollectors. I have not rec'vd any validations from the collectors tothis date. I want to contract the credit bureau, informing them that Ihave sent these collectors Debt validation letters with no response, butI don't want to open a can of worms. To this point, I have decided todeal with the creditor who is not on my report. Do I just send a letterto the Creditor for negotiation and deal with them?
#2) I disputed an account with a Creditor, who sent me a letter statingthey would be contacting the Credit Reporting Agencies to have the itemDeleted from my report. Two of the three have deleted the item from myreport and the other one is still holding off.
#3) I have been in dispute with a Collector on an account that was paid in full prior to them purchasing the account. I have sent them all theback up pertaining to the account with no response. I have since sentthe documents to the Credit Agencies, who, two out of three have removethe account, but again, one is not budging.
#4) Can a collector who have been DELETED from your report, go backafter the SOL have run out, no debt validation given be added back toyour report?
-------------------
anything can happen in credit reporting
sounds like your are doing all you can
i would negotiate with the first creditor of they are willing. They can ask for removal of a collection they assigned. Sometimes they don't. But if you can pay it do and go on.

Judgments

Good Morning and thank you for your website its awesome. I do have a question regarding judgements. How can I try to argue an old judgement? Is there any way short of paying it to remove from public record part of my credit. Thank you in advance for your time and reply.
-----------------
Once a Judgement always a judgement
You have to pay by law but your report will not show wether you paid or not. That is the courts job.
If the judgement is too old you can dispute it to get it off.
Credit Dispute Form

Judgment account not mine.

My credit records show that I OSI Funding LLC VS Gonzalez, Edward J. Legacy Judgment total amount $2,746.04 by this is showing in my records and it is causing me problem in buy a home. MY name is Edilberto Gonzalez so I don't know how that was put on my credit since the name is completely different from mine.

What do I do to speak to some one over the phone if the machine keep answering when I talk not much options.
------------------
Free credit dispute form
Go here and do it

Chapter 7 bankrupcty. Dishcharge bills on report

Hello Mr. Majors!
In 2001 my husband and I have jointly filed for chapter 7 bankruptcy. I recently got a copy of my credit report and I saw that one of the accounts that was supposed to be discharged is listed as open/in collection, the balance and the fact that it was last reported in May of 2007!
What to do???
I have a copy of the file and the discharge letter. Can I get a copy from the court with a list of all the accounts that were discharged?
------------------
I would dispute it as paid included in bk
see what happens and go from there
Free universal Credit Dispute From

Should i pay my debt?

Most of my debt is from cell phone bills. My score is 520. I would like to know if I pay off these cell phone bills (about $900 worth) and ignore everything else on there, will on-time payments to a secured credit card for a year raise my score enough to get a personal loan?
---------------------
Cell phone bills are utilities that only report negative payments.

Personal loans are hardest to qualify for.
If they are small its not that hard.

Make sure the secured card reports to bureaus. Most do not.
The one on my site do.

I would say if you pay all your collections and get new good credit
YEA
you should qualify.
------------------
I'm a little confused as to whether it's worth paying off old debt if i could just get three secured credit cards that report directly to credit card bureaus and pay on time for a year to raise my score.
-----------------------
Some lenders want debts paid if they care collections or hospital bills or phone bills. Some over look this stuff if it gets old. More overlook it if its gets old and the person has new good credit. So its your call.
bureaus are credit reporting bureaus
transunion
experian
equifax

late payments

Hi Bo,
Okay I'm currently on the road back to respectable credit but this past week has been very hard with family issues and as a result I forgot to make my credit card payment!!!!! I feel like throwing up right now. I heard that companies can only report late payment if they are 30 days late or more? Is this at all true? I been working so hard at getting things in order and now it looks as if it's all for not.
---------------
Just as long as it gets posted on the creditors books the day before 30 day pass you are SAFE. NOT SAFE, NO SAFE

You are safe. That was an american idol joke
you cannot be marked 30 days past due if you are not 30 days past due.BUT
if for some reason you needed credit today it would show on your report that a payment is due now and that affects your score on that day. But once your payment post and it is not more than 30 days late your credit report score will then be at the best point it could be and was before.
-----------------------
Wow thank you so much for the quick response and the "good" news. I'm signing up my account for automatic debit from my checking account. I know I've should've done this already but that's a moot point now. Anyhow thanks again and now I can eat breakfast and actually keep it down.

Hi Bo,
My husband has about $10,000 in credit card debt due to slow start up in a new business and I have $7000 in debt. (5,000 I have not heard from or paid on in over 2 years since my husband wasnt making enough to pay my debt and his)
I am looking for a consolidation load so we want to buy a house but can't due to
his debt, we didn't even put me on since we didn't want to hear from creditors.

I can't find any info about the credit scoring chart. If I go to a credit help agency,
they said it puts a 7 on my score which means I paid it all off but through credit management?
But if I pay it off short it gets a 9?
Is that right?
Obviously a 7 should be better than a 9, but due to the large amount, is there
a better way to go?
How bad is a short payment on your credit score?
Thanks so much for your help!
------------------------
I would try to settle if i could.
If the balance shows zero then that is better no matter what.
Negotiate anything you can.
The largest problem here is stable work history.

Look for a lease to own seller finance on a home.
You will need a down payment.