80 People Helped
Member Since: January 2009
But it is how the game is played. I have noticed with my own credit cards that when i'm using less then 10% of the credit limits the score gets stuck where its at and starts dropping a few points if don't have new debt over 15%.
keoke779's reply was:
With each of the Credit Bureaus: Experian, Equifax and Transunion. Go to each of their websites and find the link for disputing errors. Find the account on your online report and let them know that it was paid and the date that it happened. It takes about 30 days for them to verify the account. Once that happens they will make the correction on your credit report.
keoke779's response was:
It depends on when the credit card companys do their reporting. For the most part they report every month, but it can take up to 45 days for it to show on your credit report.
Hard Credit inquiries stay on your report for two years. But the weight these carry on your credit score is only for 12 months. Also, when you shop for a morgage or auto loan, the credit report company's know that you are looking for the best rate and multiple inquiries for these purpose are weighted as one, so long as they have been made within a 14 day period.
Apartment managment companies pull your credit report to see your overall debt and see how much debt you have in relation to your income. They are looking that your carried debt obligations doesn't exceed 30-35% of your income. Anything higher will most likely be reason for them to require a higher Security Deposit.
You shouldn't be afraid to try! Its wost to be stuck than to have a clear course of action.
This is not always the case. At the 7 year mark the debt will be sold to another collection agency, yet again, that will try to collect. This is a good time to dispute the debt with the collection agency to provide proof that the debt really belongs to you.
That is awesome advise Irocdunkszxx!
You need to speak to a morgage lender. They usually get you the best morgage rate that you can qualify for based on credit. To give you an idea, your income and overall debt will determine how much of a loan you can afford. Your FICO score will determine the interest rate for the loan.
Unless you got the credit collections companys to agree in writting that they will report the accounts paid off to all 3 credit beareaus they will probably not do it. You can go to each of their websites for Experian, Equifax and TransUnion and open a dispute claim for each company. You just need to let them know that accounts have been paid off and the date payments were cleared. Within 30 days each credit beareau will update the records. Its time consuming but its a way to ensure the info will be updated.
If you pay all these I think your credit will improve a bit, but not much. The reason will be because credit scores are a measure of good continuous paymet history not of lumpsum debt payment.