Clean Credit Up

Archive for the ‘clean credit up’ Category

I really need to clean up my credit. What are the steps to take to do this? Please no solicitation and thank you in advance for your wisdom.

That’s going to depend on what caused your credit to get messed up in the first place. There are three major things that are going to help:

1) Proper action
2) Time
3) Verification and investigation

If over spending is your issue, then you’ve got to cut your spending down. Don’t use your credit cards. Cut them up or freeze them in glass of water if you have to. Anything so that you don’t use them. Pay your balance over time. Always make at least the minimum payments, but take any extra money that you have and make larger payments to either 1) the card with the lowest balance (snowballing) or 2) the card with the highest interest rate.

If you’ve had a bankruptcy or a foreclosure, then it will take time to clean up your credit record. The attorney that helped with your bankruptcy should be able to shed some insight onto how long it stays on record.

If you’ve just been delinquent on payments or have had poor payment histories reported to the credit bureau, then do everything you can to not make late payments and always pay at least the minimum.

If you’re doing the right things, then your score will improve over time.

Also, get your credit report and make sure that there is not incorrect information listed on your account. You can get a free copy of your credit report from each bureau, once per year, at annualcreditreport.com.

Be wary of companies that offer to consolidate your debt – it hurts your credit to sign up for them and if they miss payments, you’ll be liable and will get another ding on your credit. If you’re having trouble meeting your bill obligations, then call each credit card company and ask them if they can lower your rate. It’s worth a shot.

We did not sign anything saying we had to get the loan from him when he is done. Are we obligated or can we still shop around for the best deal for a mortgage?
1st 2 answers are great so far. Thanks. Kconsult can you recommend where to get info on comparing rates?

You could still shop around, but I’d recommend you give him a chance to meet or beat the best rate/terms you find..

His time is valuable, so be respectful and try not to waste his time. If he is really good, he’ll be your source of best rates. Keep in mind that rates are affected by terms. What sounds like a great rate may not be. Make sure you know how to compare the loans.

Most people whom I consulted gave varied answers.

Don’t wander here and there visit this site: http://CreditReportfrees.info

I’m tryin to clean up my credit. i went to apply for a another credit card and they denied me saying i didnt have enough points. I honestly believe there are some things on my credit that i didnt open. Who can i pay or talk 2 to clean this up?

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com

I have good credit, never made a late payment and always make atleast my minimum payments, and then some. I recently consolidated some credit card debt and some of my fiance’s debt with a $30,000 private loan which we pay together. Then I have about $20,000 worth of debt in consolidated student loans, car loan and some store credit cards from home related items (tv, furniture, etc.)purchased with 0% or low financing. All of my debt and most of my fiance’s is in my name because his credit was too bad to get any loans, etc. So even though it’s all in my name, we have no problem making payments each month since there are 2 of us paying. But as we work on getting his credit in line for him to one day be a co-signer for a house, what can we do to get my credit up seeings how I have so much of my credit tied up for the both of us? I’ve already closed any zero balance credit cards I had open but what more can I do??? Thanks for any tips anyone may have
OK, so as far as a debt/income ratio… not sure if this is how you figure it out but if you take my monthly income and deduct my minimum monthly payments, I have about $1,000.00 left over. (Keeping in mind my fiance pays about 30% of my debt monthly as well, but I know banks don’t take that into consideration in this case) Once he has enough credit for us to co-apply, our combined yearly salary is over $80,000 a year and currently our debts together are about $70,000 total….if this info helps at all…. and thanks for all your helpful comments!

What you have to look at is your Debt to Income Ratio, without that its too hard to give you an answer.

Ok, I had a credit card once and i missed a few payments. HOWEVER, i paid it off. It still shows up on my credit report..how can i clean this up?

now when i apply for a card anywhere i get turned down. How do i fix this?

Well first of all, there are many false answers so far.
Late payments are reported for 7 years on your credit report as per Running of Reporting Period – Section 605 [15 U.S.C. § 1681c]. If they were late more then 90 days or more, they will hurt your credit rating even more then just a few 30 day late payments.

As to getting anything removed by simply disputing it, that is a myth, only un validated information can be removed from ones credit report.

As to why your are being turned down, the creditor is required by law to send you written documentation of why the declined your application and who they used to determine your credit rating. This also falls under the Fair Credit Reporting Act. This would indicate what your problem is then you should try to resolve the issue that is causing the rejection. It could just be due to the current credit crisis.
You can download a free book at the link I have provided in the source section regarding the FCRA and your rights.

Here is a link to the FTC on how to properly file a dispute with the credit reporting agencies and how to get your credit reports for free.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm

You can also use this link to find ways to improve your score by yourself and save money
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm

Hope this helps answer your question.

Ok, I had a credit card once and i missed a few payments. HOWEVER, i paid it off. It still shows up on my credit report..how can i clean this up?

now when i apply for a card anywhere i get turned down. How do i fix this?

Well first of all, there are many false answers so far.
Late payments are reported for 7 years on your credit report as per Running of Reporting Period – Section 605 [15 U.S.C. § 1681c]. If they were late more then 90 days or more, they will hurt your credit rating even more then just a few 30 day late payments.

As to getting anything removed by simply disputing it, that is a myth, only un validated information can be removed from ones credit report.

As to why your are being turned down, the creditor is required by law to send you written documentation of why the declined your application and who they used to determine your credit rating. This also falls under the Fair Credit Reporting Act. This would indicate what your problem is then you should try to resolve the issue that is causing the rejection. It could just be due to the current credit crisis.
You can download a free book at the link I have provided in the source section regarding the FCRA and your rights.

Here is a link to the FTC on how to properly file a dispute with the credit reporting agencies and how to get your credit reports for free.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtm

You can also use this link to find ways to improve your score by yourself and save money
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm

Hope this helps answer your question.

Can it will be possible to rectifies and clean up the credit report. Are any agencies available to do this at low cost

If anyone offers to clean up your credit report fast, run the other way. There is no guaranteed, low cost way of doing this. All you can do is bring your accounts current, then pay on time and wait as your credit score increases. Some companies may allow a "pay for delete" in which you pay off the balance and they remover the negative info, but this is not guaranteed nor is it even necessary for the company to agree to. An offer to settle for less than 100% will probably result in continued reporting of the delinquency to the credit bureau (the company has no incentive to delete if you aren’t paying the full bill).

For more info on credit repair scams, check out the FTC’s page at:
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm

I understand even if I pass the test for EA or CPA, IRS wouldn’t issue me the license because it is nonsense that someone who cannot even manage his or her own finance does someone’s, so somebody told me to clean up the credit history. However, I dunno how to clean up the history, and IRS is a federal agency, so I feel like the clean-up might not work for IRS even after credit clean up..

First of all, IRS does not license CPAs, but you should already know that if you are attempting to pass the CPA boards.

IRS does not care about your credit report, they care if you have your taxes current and paid.

Helen, EA in PA

Has anybody used Second Chance Financial to clean up their credit and did they do a good job?

give me your moneys

and i will fix your credit

no way to clean up your credit once it get’s posted to it* (unless you work something out with the credit card companies)

the two secret words is "identity theft" that is the secret way to get out of debit! that they do not want you to know about

NOW pay up

i told you the secret words like on that tv ad were he gos over and over about the secret words to get out of debit