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Question By
wirerunner

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how can i raise my credit score 100 points in 6 months

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Debt sold to other collection companies

Helpful to 162 out of 224 people

What cn you do to remove collection companies who purchased your account after it's been charged off or closed out by the original creditor?

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Reply by
BungalowMo

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863 People Helped
Helpful to 230 out of 283 people

First off...they have every right to report.  Something that has been charged off is a bad debt & it gets sold to collection agencies. 

Your best course of action is to send them a letter offering a "pay for delete".  You pay them off...they remove it from your reports.

Do EVERYTHING via us mail  send the certified mail, return receipt.  That way you know they got it.

Lastly, the original creditor will, and legally can, keep this on your report for 7 years from the last date they received anything from you.

Hope it's old cuz it's gonna hurt for a long time.

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135 People Helped
Helpful to 7 out of 17 people

pay it its been charged of because it has been sold. so now that  collection company will be on your report for the what seven years or whatever

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135 People Helped
Helpful to 128 out of 161 people

oh and a collection agency CANT DELETE something off your credit report they can only report it to the credit bureaus as Settled in Full or Payed in full. Getting it removed would have to be done by the cb

Reply by
Gdukot

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44 People Helped
Helpful to 43 out of 47 people

First, turn this into a seek and destroy mission.  You need to find out how much the debt is.  How old is the debt.  Also, what are the statue of limits in your state.  When I lived in Arizona it was five years.  This means after 5 years they can no longer pursure you.  If the debt is over a year old negotiate a settlement.  For example give a low ball figure.  They will offer a high ball.  Meet them in the middle of if you can.  Example: a doctor bill 500 dollars. Offer 150.  They will want probably double depending on the age of the debt.  Try to settle for 200 and kill it.  Once paid wait about 5 days and file a credit bureau dispute as the debt is paid and get it off your report.  If you do not regonize the debt or do not know who the collections sold it still dispute it.  This force the companies to reveal themselves.  They want their money.  Settle collections, get it off your report.  Chop your credit card debt in half.  Get you usage around 19 to 20 percent.  This should increase your score.  Also, apply sparringly for credit and racking up hard inquires.  Go forth and sin no more.

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Helpful to 3 out of 4 people

Don't listen to BungalowMo's advice, he obviously works for a dirt bag debt collector.  Never admit to the debt or pay anything to a collection agency, it may trigger a new start date to the Statute of Limitations time frame.  You don't want that.  If you are past the statute there is not much they can do except harass you into paying, oh and file invalid lawsuits.  Now one comment on a lawsuit by a creditor or debt collector (mainly the scum bag debt collectors), 95% of people sued by collections companies, don't show up to court.  The scumbags then get an uncontested judgement against you which allows them to garnish your wages.  

If you are sued, show up to court and challenge the suit on 3 points - Statute of Limitis - in california the time frame begins on the last payment you made for that acount.  Show the judge when you defaulted, or last payment and if you are outside the limits, move for dismissal, 2 - Dispute the validity of the account - It is the scum bag's obligation to prove in court that the account was in fact your account.  Anything short of a copy of your original application for that credit line, is grounds for dismissal, if they don't have it, which they won't.  Move for dismissal.  3 - Challenge that particular scum bag's right to collect on the specific line of credit.  A bill of sale from teh original creditor as reciept of the sale to this particular scum bag is the only document you accept.  They won't have it, they never do.  The system doesn't work like that.  Once your account is in defaulty and then written off it is sold to an aggregator that bundles it with ten's of thousands of other accounts and then they put the bundle into a pool where variuos scum bags can take chanks of it to try to collect.  

Obviously, do your research and get real comfortbale on the laws and get legal help from an attorney befoe you walk into court.   It's always better to have attorney represent you but If you are like me, I think it's fun to play attorney for a day.  That saide the judges typiically don't like it unless you kinow the court process very very well.  

Reply by
boyerjohn68

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57 People Helped
Helpful to 2 out of 2 people

Depends, if its over 1k they are more likely to try and sue you.  If they havent yet I suggest Lexington Law ,they will barage the collector in different  ways to make them provide accurate proof which most dont have, then itll drop off or be removed from your credit. I have used them for 4 months and had 2 charge offs dropped as well as numerous other innacurate discrepencies. 99 a month for aggressive, or 49.99 a month for less aggressive. Its working for me and I dont have to do the legwork. good luck

Reply by
notarytm

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Have Pre-Paid Legal (or the like) send them a letter.

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23 Contributions
186 People Helped
Helpful to 1 out of 1 people

The collection agency is the one who TELLS the CB to remove a collection.  I just had 5 collections removed from my credit report after discussing my situation with a bankruptcy lawyer this past summer.  All 5 medical bills have been removed from all my reports, all 5 of which were from the same predators.  Patient privacy my a$$... if they can't tell me when and a generalized why/what the bill is for, they can't tell me to fork over money to pay the bill!  Well, they can, but they didn't get a dime.

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Reply by
eastcoastman73

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672 People Helped
Helpful to 2 out of 2 people

Enter Your ReplyCollection companys can all delete the collection if paid, they all will say they dont do this...you tell them its no benefit for you to pay without the complete deletion or your not paying it!!!   keep calm and dont be rude, just stay stern to it..everytime they told me no they dont delete it..by time i got off the phone i can have them deleting it to get me to pay it!!!    do not buy into they dont delete it!!   they all say this..i tell them they put it on there and if they want paid they will remove it or im not paying, it dont benefit me at all..everytime i get the deletion people...dont buy it when told they cant delete it, dont pay until they do please!!! 

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25 Contributions
127 People Helped

It's possible...

Helpful to 8 out of 10 people

Progress Update: from zero credit score to 707 in 4 months

I started with no credit score in November 2016, no credit accounts, and no bad credit. I applied for 2 secured cards (First Choice and Open Sky. Within one month my credit score soared to 680 ish (Transunion and Equifax). I got overeager and applied for another secured card (Capital One). I got it but my credit score dropped to 530ish. That was a blow. So I made small charges on all three cards, paid them off before the statement cutoff, and kept my utilization below 10%. Today when I logged into CreditKarma, my score had jumped (from 530ish last week) to 706 / 707! Whoo hoo! Now CreditKarma is recommending an American Express card with 'very good' chances of approval. However, I'm not going to apply for it. I'm going to wait two more months until Cap One gives me a credit limit increase. I'll then apply for the Credit One Quicksilver card. In six more months (and another credit increase on both capital one cards) then I'll apply for one of the better Amex cards. So credit score can be built relatively quickly in some circumstances ... it's a game with rules. Play by the rules and reap the benefits.

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5 People Helped

Success Story wanted to share

Helpful to 5 out of 5 people

I wanted to share my story and hopefully this will help and encourage someone.  Try to make this short,  3 years ago I had a foreclosure and two bankruptcies.  My score was at about 570 this past July. (2016) I needed a car so applied with  the dealership and was only able to get one at 19.99%, but I had no choice, so I took it.  In the meantime, I signed up for credit karma to just keep an eye on my credit, score etc.  After making timely payments over the last 7 months,  my score went up into the low to mid 600s, then in January I applied for a secured card with a 300.00 limit that was advertised on here, just to get another credit line and build my credit.  i actually just started using it in March.  Before even using the card my score went from 580 to 662 I had a huge jump from one month to the next.  I think it was the car payments and not the card that brought it up.  Even though Transunion still shows a lower score  of 576 , Equifax shows 662. Then a few days ago,I decided to apply for a loan to refinance my car, this time I went to a credit union, they approved me on the spot for a 10.5%, which was so much better than the 19.99%.  I decided to just try one more credit union, just to cover my bases, and what do you know, I got approved within seconds as well.  When they pulled my Equifax score it was at 698!!!! A much higher score than what the other credit union told me.  This morning I signed my loan papers and sent check to old lender.  My new loan is only 4.59%, I am beyond happy.  This is what I learned, if you don't try, you will never know and don't ever assume... I ASSUMED my credit was much worse than what it actually is and I almost kept myself from doing better because of that.  Second, I learned that the scores on here are just esimates, and the actual score may indeed be higher, as I am living example of this.  

So with all that,  I got really confident today and I applied for an unsecured credit card with same credit union and was instantly approved for a $2000.00 limit at a great rate, since they just ran my credit yesterday, they did not have to run it again.

It is up to me a use my credit wisely, and get my score up even higher and  I will certainly do so.  I hope this helps, this is a true testament to tell you that things can change for the better and it does not have to take a long time either.  Good luck to everyone and I hope this helps some of you.

Reply by
GoodKarmaMan

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40 People Helped
Helpful to 1 out of 1 people

 Great information and am very happy for you. One thing I took away from your  writing  is that are you Referred only to  credit unions. Is it because of your carrer or simply something you preferred over traditional  banks.  Could I trouble you to expand a little bit further about why you picked credit unions.  Can anybody join a credit union? 

Many thanks and best of the best years are yet to blossom you 

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Reply by
yankees992012

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42 People Helped
Helpful to 1 out of 1 people

GoodKarm- Based on my experince Credit Unions are more likely to approve your auto loan/credit card with much lower rates than traditional banks. With Credit score well into 700's Credit union approved me with auto loan rate of 6 percent VS 12 to 15 percent traditional banks. 

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4 People Helped

Have me add you to my Cards

Helpful to 4 out of 5 people

I'm not going to read all the responses, so maybe this has been covered already. The quickest and easiest way to raise your score is to have someone with an excellent score add you to their credit cards. Now, this doesn't mean they will actually give you the plastic card once it arrives in the mail. I wouldn't. After all, you are a credit risk. But, I have added some of my family to one or more of my credit cards to help raise their FICO score. 

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11 People Helped

Raised my score 175 points in 30 days

Helpful to 11 out of 12 people

Hey Everyone,

Just wanted to let you know that 30 days ago my credit score was a 535.  My fiance and I wanted a house and we were going to get it!  I had three credit cards that were maxed.  I paid them down so that I was only using 15% credit.  I also had three items in collections that added to around $800.  I paid them off and had the bank do a quickscore.  The quickscore updated my credit from 535 to 616.  Then I went to www.annualcreditreport.com and looked at all three of my credit reports.  I disputed the collections and 3 late payments that I had on my car.  Two weeks later I had them removed and my score shot to 711!  We get to move in on April 1st and got an awsome rate.  Good luck everyone

Reply by
JDad1616

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Helpful to 1 out of 1 people

Did you dispute collections that you had paid off? How did you go about doing so exactly?

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11 People Helped

If you Rent Use Your Rental History

Helpful to 7 out of 9 people

You can use your rental history to increase your credit score.

There is a service called RentReporters which will report your rental amount and payment history for the last 2 years plus going forward monthly.

They will contact your landlord and verify the rental facts then RentReporters will have the credit company add the tradeline to your credit report which inturn will increase your credit score.

They are also giving new signups $20 off using promo code TMUK

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Raising my Credit Score

Helpful to 5 out of 5 people

Basicly all one has to do is to watch items that affect your score greatly.  I have done a lot of research on how to increase your scores and ways to decrease them.

Here are the basic FICO scoring Models.  1. Payment History: 35 Percent of the Total Credit Score(Pay all your bills on time).  2. Debt Amounts -- 30 Percent. Experts recommend that the amount owed should not exceed 30 percent of the individual's credit limits. That 30 percent rule of thumb applies to each individual credit card as well as the overall level of debt. I try to keep mine below 10% or at 2%.

3. Length of Credit History -- 15 Percent

Based on the length of time each account has been open and the length of time since the account's most recent action.

4 and 5. New Credit and Credit Mix -- Each Comprise 10 Percent

Borrowers, even those new to credit, should avoid opening too many credit lines at the same time, since such behavior could suggest they are in financial trouble and need significant access to lots of credit. FICO suggests that borrowers only take on additional credit when they must have it or when it makes sense financially.

So to get a good score you mostly need a credit history with no reported late payments, as well as low reported balances currently on any credit cards.

There are no magic forumlas.  The FICO model is very straight forward and if you follow it, your scores will increase.

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Helpful to 4 out of 4 people

If all deragatory marks are about to be removed, and you have no other negative marks on your report, a 100 point increase is possible in some circumstances (620 to 720 for instance).

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5 People Helped

reaise your score 100 pts

Helpful to 5 out of 5 people

get the cards credit karma suggests. i got 2, use them for everything and pay them off everytime you get paid. after 3 months months i got another card that was recomended. i used all 3 cards and paid each card off every payday. i started with a score of 519 after 5 months of not missing a payment ant paying the card s off every week, my score is 669 and 683. good luck

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6 People Helped

Helpful to 6 out of 6 people

Get 2 secured credit cards with a $200 spending limit. Only spend %30 each month and then pay it in full when it comes due. I have raised my credit score from 548 to 602 in 3 months with just 1 secured card using this. My mother was able to raise her credit limit from 550 to 750 within 6 months and was able to go from being DENIED a home financing loan to APPROVED for $135,000! :) It really does work. You just have to be disciplined and not miss a payment, not overspend it just because you have it.

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