I own a credit repair company. Keep all debt below the 45% credit limit. Meaning - if you have a 30,000K line only use 45% of the line at any given time. Or if you use more than 45% of the line pay it back within 30 days. This will go for credit cards as well.
There are a lot of things you can do to increase your score. How many points do you need? Where are you now? Do you have any late payments? Are all your items on your report correct?
That is the standard I have seen. I bought my report from two other places before I went to www.myfico.com and they all did it that way. What I like about www.myfico.com is the score watch. I used info on this site and from responses that I got to help raise my credit score. I would get e-mails alerting me to the score going up from www.myfico.com.
What was really cool was that I was able to raise my score by over 75 points just by disputing the erroneous charges. Made me smile
Hi there and thank you for your input. Just one other question about this. It was suggested that using "this" site it does not update daily? Is that true? If so is there another site that does without hurting me?
That is standard also. All of the sites I have seen give you a report from that date which you are able to see for thirty days. At www.myfico.com, they have Score Watch which will notify you of changes in the score. You can get an updated credit report twice a month. THe service is 9.95 a month and you must obligate yourself to purchasing three monthsof the service.
I think you can do that. I just wrote letters to them, sent them certified and included proof that the company that reported the charge was wrong. I included lots of copies of cancelled checks as proof. You should be able to find letter templates for such a venture in library books or through Google searches. Other than postage and pulling the credit report, it is fairly inexpensive.
I had the same experience as fcrick. My score was shown to be one thing then when I pulled an up to date credit report my score was actually 52 points higher. Go figure.
thanks for your response. I actually did write a letter and sent a copy of the contract for the sale. they took it off my record and then a year later it showed up again. They are saying it is because the lender is reporting it. I have contacted the lender and they say even though it was sold I was still responsible for the payments.
I will try the letters again. the lender even noted that I was never late until the date that I sold the car. Makes me so mad that something like this is having an impact on my credit.
Contact all parties by mail, certified mail with a return recepit.
Send a copy of all documentation, explain your case, request a repy within 30 days. Then wait for 30 days. You will get a reply.
P.S. Do you think l/o would make sense to try, and when I sell I could take my opion.
I really need some advice from all of you experiened Real estate investors. If something is possible for me to get this house, I would like to get moving on it.
I really would love to hear from you with your ideas.
I need some help, and I know there are alot of you who have very good suggestions. I posted my situation here because I have received so much help from here before.
The only way i see is to rent for a while, have the landlord file a positive report with the credit bureaus
every month. It might incurr a small fee, but is doable.
Also make sure to make timely payments with the
credit cards and not have high balances.
This should help you get the CR cleanedup sooner.
If you try for a loan now, it will cost you an arm and a
leg.
Was he called to active duty from reserve, was he already active? You may want him to check the Soldiers and Sailors Civil Relief Act to see if there is protection for his circumstances there. It IS the law of the land. Read it a while and see if anything can help.
I own a credit repair company. Keep all debt below the 45% credit limit. Meaning - if you have a 30,000K line only use 45% of the line at any given time. Or if you use more than 45% of the line pay it back within 30 days. This will go for credit cards as well.
There are a lot of things you can do to increase your score. How many points do you need? Where are you now? Do you have any late payments? Are all your items on your report correct?
You can qualify for a home with a 646 credit score. Are you are attempting to lower your debt to income so that you can afford more?
That is the standard I have seen. I bought my report from two other places before I went to www.myfico.com and they all did it that way. What I like about www.myfico.com is the score watch. I used info on this site and from responses that I got to help raise my credit score. I would get e-mails alerting me to the score going up from www.myfico.com.
What was really cool was that I was able to raise my score by over 75 points just by disputing the erroneous charges. Made me smile
Hi there and thank you for your input. Just one other question about this. It was suggested that using "this" site it does not update daily? Is that true? If so is there another site that does without hurting me?
Thank you for your help
That is standard also. All of the sites I have seen give you a report from that date which you are able to see for thirty days. At www.myfico.com, they have Score Watch which will notify you of changes in the score. You can get an updated credit report twice a month. THe service is 9.95 a month and you must obligate yourself to purchasing three monthsof the service.
I think you can do that. I just wrote letters to them, sent them certified and included proof that the company that reported the charge was wrong. I included lots of copies of cancelled checks as proof. You should be able to find letter templates for such a venture in library books or through Google searches. Other than postage and pulling the credit report, it is fairly inexpensive.
Thanks for the info!
I had the same experience as fcrick. My score was shown to be one thing then when I pulled an up to date credit report my score was actually 52 points higher. Go figure.
thanks for your response. I actually did write a letter and sent a copy of the contract for the sale. they took it off my record and then a year later it showed up again. They are saying it is because the lender is reporting it. I have contacted the lender and they say even though it was sold I was still responsible for the payments.
I will try the letters again. the lender even noted that I was never late until the date that I sold the car. Makes me so mad that something like this is having an impact on my credit.
Contact all parties by mail, certified mail with a return recepit.
Send a copy of all documentation, explain your case, request a repy within 30 days. Then wait for 30 days. You will get a reply.
You may need to contact a lawyer to help you.
P.S. Do you think l/o would make sense to try, and when I sell I could take my opion.
I really need some advice from all of you experiened Real estate investors. If something is possible for me to get this house, I would like to get moving on it.
Thanks !
I really would love to hear from you with your ideas.
I need some help, and I know there are alot of you who have very good suggestions. I posted my situation here because I have received so much help from here before.
Thanks !
The only way i see is to rent for a while, have the
landlord file a positive report with the credit bureaus
every month. It might incurr a small fee, but is doable.
Also make sure to make timely payments with the
credit cards and not have high balances.
This should help you get the CR cleanedup sooner.
If you try for a loan now, it will cost you an arm and a
leg.
Good luck to the person.
-Krish
what about getting 3 secured loans;will that help?
Chanel
The letters were sent to the MC.
Chanel
Where there any follow up letters? Where the letters sent certified? Do you have copies of the signed letters with the mail date?
The key is documentation.
Was he called to active duty from reserve, was he already active? You may want him to check the Soldiers and Sailors Civil Relief Act to see if there is protection for his circumstances there. It IS the law of the land. Read it a while and see if anything can help.
http://usmilitary.about.com/cs/sscra/a/sscra.htm
Go to the www.creditboards.com forums for more info on repairing your own credit report. There are some real experts there.