Question about credit not gambling

Search

New member
Joined
Dec 25, 2004
Messages
378
Tokens
How long does it take for something to come off your credit history.. I had some stuff from 8-10 yrs ago still on my credit??? I thought this stuff came off after 7 yrs??? I destroyed my credit when I was in college>>> What would be the best thing to do to get my credit back up?? thanks
 

Banned
Joined
Sep 20, 2004
Messages
4,703
Tokens
Its up to the creditor. They can renew the judgement every 7 years if they want to. I know a motor vehicle judgement stays on your record till you die or pay it!
 

Rx Senior
Joined
Oct 14, 2004
Messages
9,807
Tokens
One thing that I have learned is that the number of times that your credit is requested by somebody actually is a factor in determining your credit. It seems very wierd but its true. So try to limit the time that your credit is requested.

Obvious ways:

Pay your balance off every month right on time.

Other then that I dont know any other options.
 

Active member
Joined
Jun 20, 2000
Messages
71,780
Tokens
I thought it was 7-10 years then it drops off....never be late on payments again that will solve it quick....live within your means
 

New member
Joined
Nov 21, 2002
Messages
2,187
Tokens
kruser,your right about the credit being checked.i was told that last month when i was buying a car.
 
Joined
Sep 21, 2004
Messages
5,523
Tokens
Credit, one of my fun subjects. First, inquiries do not lower your score, if you are purchasing a home, home loan or a car. Of course you will have some inquiries, you are applying for a loan. A red flag, or potential lower score is too many inquiries. Reason, if you need that many, you are not shopping, but getting turned down. During my Automobile sales career I pulled everyone's credit, and studied their worthiness for a loan. Saw everything from a 850 score, to 23 derogs, for 23 accounts.

Do not use a credit repair service, as they are really close to a scam. You can do the same, if not better yourself. First, obtain your credit report from the big 3. If you are ever denied credit, they must give them to you for free. Experian, Equifax and Transunion. You should see what and where your problems areas are. All of the derogs will have the business addresses listed. Begin a letter writing campaign, the same thing the credit repair agencies do, you can do yourself with less damage. A little known fact, if you do sign up with one of these, it is reported, on your credit report. No loan agency will touch you if you are in credit repair. You are better off having a bk with discharge papers than that. Ask them if enough time has passed, to have them remove it. If not a letter, call them. I had much better luck over the phone than with letters. If they say yes, have them send you a copy of the letter. When you write to individual credit bureaus, include this. They may say they will, but it is up to you to verify. Make sure you start a file, save all correspondence. You will notice many of the bureaus have different problems. Just work on the problems, at that account. I have seen 80-100 point differences between agencies. Most loan companies use all three, but average and median.

Another step is to attach a letter of explanation. Death in the family, loss of income. If the derogs cannot be removed, they can be explained. Everyone has a crisis at one time or another. Partying until falling down, and going on a spending spree will not suffice. Medical emergencies would include hospital bills. Keep this up until you have exhausted all means. Judgements and tax liens stay there until cleared. Some derogs roll off in 5 years, bk's normally in 7. Repos can stay long if never cleared up. It is a lot of work, and sometimes very frustrating dealing with the agencies. I was able to clear up my entire credit report, by myself, using this approach. Credit score is power, and money. An example, I wanted a swing set from Home Depot for my kids. They had an offer, sign up for a credit card, get 10% off of purchase. So to save over $100. I signed up, and was instantly approved for $3,000. I got the swing set, took the receipt and paid cash, 1 minute later. I could also close it today, but with 6-12 months interest free, I may keep it around. Examples like this are everywhere, especially when applying for a loan. You can negotiate from a powerful position, with great credit, save a lot of points/interest. With lame credit, you take what you can get, and may pay additional loan origination fees.

That is it for credit repair, next step or lesson, building it after repair. Comeback and ask after you complete step one. If around I will give you some easy and inexpensive ways to build your creidt back up. Good luck as I have been there and done that twice. Neither was gambling related.

Best Wishes...OF:howdy:
 

New member
Joined
Dec 25, 2004
Messages
378
Tokens
o frog.. i put in a free request for my credit report from transunion.. What about going to the local credit counseling agency. I just got my 1st real job
out of college and would like to repair my credit, that I destroyed in college. So I should contact the companies of my credit report ...
 

New member
Joined
Sep 21, 2004
Messages
188
Tokens
Gutter trust me go to that website before you do ANYTHING. Post your questions there they will help you. NEVER pay a collection agency until you do a few simple things that you are entitled to by law.
 

New member
Joined
Dec 25, 2004
Messages
378
Tokens
most of my awful parts of my credit history are like 10 yrs old.. seems they would be gone
 

New member
Joined
Sep 21, 2004
Messages
188
Tokens
Yes gutter that is illegal for anything report past 7yrs from date of first deliquency with your original creditor. If anybody is reporting something past 7 yrs it is called reaging and is very illegal. Listen it is very easy to remove those. Order you free credit report from all three credit agency and dispute anything that is older then 7yrs as obselete. I believe both experian and equifax will give you your confirmation number right away and you can log on to there website and file the dispute with those confirmation number right away instead of waiting for it in the mail.
 
Joined
Sep 21, 2004
Messages
5,523
Tokens
GutterRoaches said:
o frog.. i put in a free request for my credit report from transunion.. What about going to the local credit counseling agency. I just got my 1st real job
out of college and would like to repair my credit, that I destroyed in college. So I should contact the companies of my credit report ...

Do not go to credit counseling or credit repair. Everything they do, you can do, better and for free. Do not sign up, as this will actually damage your credit. You are entitled by law, for your reports, from all of the bureaus. Get all 3. Contacts the companies on the report. By letter and phone. If derog account is on all three, you can use a form letter, and change names where appropriate. It is borderline entrapment by the credit counseling agencies. Do it yourself. Write a professional, quick to the chase letter. I know I was delinquent, regret my actions, blah, blah, blah. Then call them, did you get my letter. Use any leverage you can, from continuing business with them, to whatever you can think of. It is not as intimidating as it appears. My main word for you is perseverence. Stick with it.

We were all young and foolish once. Best Wishes...OF:howdy:
 

Active member
Joined
Oct 20, 1999
Messages
75,444
Tokens
ak5387 said:
Check out this website

www.creditboards.com

EXCELLENT website cleaned my whollde credit file with all there help.

FANTASTIC SITE!

Thanks for sharing.

I recommend everybody check this site out........great info available.

THANKS AGAIN ak5387

-F-
 
Joined
Sep 21, 2004
Messages
5,523
Tokens
ak5387 said:
Yes gutter that is illegal for anything report past 7yrs from date of first deliquency with your original creditor. If anybody is reporting something past 7 yrs it is called reaging and is very illegal. Listen it is very easy to remove those. Order you free credit report from all three credit agency and dispute anything that is older then 7yrs as obselete. I believe both experian and equifax will give you your confirmation number right away and you can log on to there website and file the dispute with those confirmation number right away instead of waiting for it in the mail.

Great advice. And if you start to show interest in the report, they will clean it up, just by saying, shouldn't this have been removed? It is a squeaky wheel that gets greased. It is your responsiblity to clean it up. When I started my letter writing campaign, and contacted businesses directly, other things miraculously dropped off my credit. I was very squeaky.

Get to work, what are you waiting for? Best Wishes...OF:howdy:
 

New member
Joined
Sep 21, 2004
Messages
188
Tokens
I owe so much to that site they saved me thousands of dollars. I can't tell you how helpful they were. It works but its not overnight you have to be patient but it works.

Its amazing how the laws are not in the favor of collection agencies and how hard it really is in the eye of the law for them to collect debt.
 

Forum statistics

Threads
1,106,766
Messages
13,438,770
Members
99,337
Latest member
hbs_solutions
The RX is the sports betting industry's leading information portal for bonuses, picks, and sportsbook reviews. Find the best deals offered by a sportsbook in your state and browse our free picks section.FacebookTwitterInstagramContact Usforum@therx.com