Fixed Error On Credit Report And Fico Dropped By 30 Points
I found an Error on my Exquifax credit report and finally after battling with them for a month or two got it removed from my credit file. As soon as I got them to remove this I check my scores and they dropped my score 30 Points. How could this happen? when it was negative informatio that was inncorrect and if itwas going to drop my score then I would have not done anything. My intent was to improve my score to give me better access now this has hurt me I guess
Please help or give ideas!!
This may help answer some of your questions about how your credit score changes
http://clarkhoward.com/
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On 2007-01-27 22:01, donanddenise wrote:
This may help answer some of your questions about how your credit score changes
1 go to the courthouse in the county he lives. Ask how to find a lawsuit filed against himself. The clerks of the court work for him. They will answer the questions and help him find the suit.
good luck with capitol one. They are , shall we say, difficult. and evasive.
2. if there is not lawsuit , they must prove service, if they cannot they must drop the lien.
bad side. he will have to live with it until the case gets resolved. may be awhile.
also, he must request in writing from capitol one a list of all charges to the card and the accompanying signatures for those charges, they may not be his charges at all.
he may also want to try these guys
American Center for Law and Justice
http://www.aclj.org
They are no cost or low cost and may be able to help or at least direct in the right direction.
Have your friend visit the bank and get a copy of the paperwork they received that placed a lien on his account. That will tell you what court the lien was filed in the court number, etc, etc.
Take a copy of the to the proper Clerk of the Court and they will help him find the correct file, which will have copy of what Capital one is claiming the the proper documents showing if he was served properly.
How about the Statute of Limitations?
In my state it is four years. At this point it is uncollectable, unless you make a payment -- then the four years starts all over again.
I wonder if Mom might have used the card and kept starting the cycle over again"
Statute of limitations is 6 years here in NJ.
He actually found out a little bit of info on it. The purchase he made was in 2001, so it was a little less time ago then I originally thought.
For lenders its as bad as a BK. Its going to take 7years to clean it up. Try freeannualcreditreport. order your free credit report and start seeing if u can dispute incorrect info. Good Luck.
Good info to help improve your credit here: www.creditboards.com
Why not just make extra payments to principal?
Then a $150.00 payment reduces your principal by $150.00.
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On 2007-02-07 00:10, Legrand_Junior wrote:
I would like to do 100% financing, but the rates they are quoting us SUCK!! My credit score is 768, and my wife is 762. They are telling us even with 5% down, the best I can get locally is 6.5%.
You should have seen rates when I bought my first home. And I had great credit with a good job. [ Edited by lacashman on Date 02/07/2007 ]
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On 2007-02-07 11:18, lacashman wrote:
You should have seen rates when I bought my first home. And I had great credit with a good job.
<font size=-1>[ Edited by lacashman on Date 02/07/2007 ]</font>
In 1991, I put 10% down on my principal residence, excellent credit, PAID 2 pts. and my rate was 9 or 9.5%. Rates are great now when you compare where they were in the past.
Lease Option Guru (?!),
As everyone else is pointing out, your logic is faulty. Let me put it simply.
If you are paying, lets say $510 a month towards your house, and all $87,000 are at 6.5%, $471.25 will go towards interest and $38.75 will go towards the principal.
If $77,000 is at 6.5% and $10,000 is at 10.25%, $502.50 will go towards interest and $7.50 will go towards principal.
The only way this could possibly help you is if by making the $10,000 down payment you were able to avoid more than $31.25 in private mortgage insurance. But you will need $17,400 down, plus closing costs, to avoid PMI. The PMI would have to cost more than $54.38 a month to make it worthwhile to borrow $17,400 at 10.25% instead of 6.5%.
The best way to pay more towards principal is to make a bigger payment on the 6.5% loan, not to borrow at 10.25%. LESS of your total payment will go towards principal if you are paying more interest. THIS CAN ONLY HELP YOU IF IT SAVES YOU MORE PMI THAN IT COSTS IN ADDITIONAL INTEREST.
Chris
I would be happy to help you in this area. I have a great repair program which i use for my credit challenged tenants here in Michigan. I signed up for $99 and received a website immediately. You direct your clients to the website to enroll in the program, and you receive a referral fee. They can even log in and check the progress of their repair cycles during the 12 month program. Let me know if your interested.
As lender, I would like to know the State where your referrals are located. This is for licensing purposes. We do the repair ourselves if we can then do the financing.
Please reply with the State.
Thanks
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MARLYSE
I am located in Illinois and would like to learn more about the service that your company offers.