hanthony

It probably won't help your score in the short term, but the only other alternative is not paying and waiting 7 years for them to stop reporting.

They probably just gave up. That collection agency might sell your collection account to another one for pennies on the dollar, and then they might start harassing you. But just leave it be. In another 5 years, it'll disappear from your credit.

I'd recommend copying documents showing that you've paid off your creditors and contacting whatever bureaus aren't reporting it. Fax that documentation to them.

Well, most likely even if you applied for a new CC it would probably get denied. Creditors look at your card utilization rate to help determine whether they approve you or not. A creditor will look at your high balances and probably conclude that you want more credit because you're having trouble handling your current debt.

My advice is to trim all of your expenses. Be frugal with what you eat. No more trips to Starbucks or wasting money on things you don't need. Once you've done that, spend everything you've saved on the credit card with the highest balance or interest rate. Pay minimums on all other cards until that one is paid off. Continue this process until your cards have a zero balance.

Depends on your situation. Did you file for bankruptcy? Have accounts in collections? Late payments?

That's a complex question. What's your score presently? How many accounts do you have? Do you have revolving accounts, installment accounts, etc? Any hard inquiries?

The only thing I know of is they can't report your negative accounts for more than 7 years. So if it's been more than that, contact the credit bureaus. Only time you can settle with collections is if there's an error on their part or if you agree to pay (which will probably just make your credit worse).

I assume you meant to ask how you dispute things on your credit report.

Go to whatever bureau is reporting incorrect information (equifax.com, experian.com, or transunion.com). On their page you should be able to find a "Submit a dispute" area. Click that and follow the prompts. Or you can try calling them and doing it over the phone.

No. A creditor can only report negative information for 7 years...So if they're reporting it, you need to contact the credit bureaus and let them know.

Paying it off will actually re-open the case and allow them to report it for an additional 7 years. Just ignore their letters. But definitely call whatever bureau is reporting it (Equifax, Experian, or TransUnion).

There are a number of potential reasons. Did you have someone run your credit? Did your credit utilization increase significantly? Late payment?

I'm also curious, because I figure the new credit card will probably have a higher credit limit (which will boost my total available credit and lower my utilization). But again, I know credit history is a big part of your score and report, so any help is greatly appreciated.

I currently have a 701 credit score and want to find out how to improve it. I think the thing hurting me most at the moment is the fact that I have 11 active accounts. Never have had a late payment, but all of my cards have relatively low credit limits ($500 on most). Any advice?