Re: I HAVE BAD CREDIT, HOW DO I RID MY SELF OF THE HISTORY
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Posted by Robert (67.106.203.98) on May 24, 2004 at 11:06:28:
In Reply to: I HAVE BAD CREDIT, HOW DO I RID MY SELF OF THE HISTORY posted by JJONES on May 24, 2004 at 02:12:29:
well, first of all, I know this doesn't help you now, but to anyone else reading this... don't settle those accounts, unless part of the deal is they are going to delete them from your credit history. You said 'most'...ok do that on the remaining ones. The way the system works now, paying off collections hurts your credit, it doesn't help. Because it re-ages the activity date...better to just not pay at all, then the date of last activity is older. Even if you have paid down an account, and it is showing a zero balance, there may be other incorrect things about the way they report it. The late payment history may not be accurate. The charge-off date, amount may not be accurate. The date of last activity may not be accurate. These are things that potentially impact your score, and you have a right to verification. Don't lie. But if it doesn't jive with your records, or your memory of the way things happened...dispute. If they validate the item, you have the right to be told how they validated the item. You have a right to see their proof. many times they don't have any proof anymore, and why would they bother, if you paid off the account. It will take a while, but eventually they may change the account to positive or delete. generally speaking, dispute one at a time, don't lie, use the right words to dispute...you don't have to be threatening, but you do have to be serious, show your knowledge of the law, your care about your credit report, how their incorrect reporting is damaging to you and they are liable for their inaccuracies, and eventually many of them, but not all will cave...but so what, you don't need to get rid of them all anyway. the best thing, is to have positive credit anyway. Make no more late payments, have 2 or 3 open lines of credit, and in 2 years, you'll be looking good. To get that positive credit, use a secured card, and be timely, also if someone will let you be an authorized user on their great account (make sure their account history is great)...it will help you too, if its reported.
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