JJ asked:


The above question is about contacting a credit bureau about old debt that’s showing on my credit reports. Also, will accessing my credit report or contacting the credit bureau about old debt alert my creditors as to my whereabouts?

Miguel

xoookissthisooox asked:


I have bad credit and I am working to establish that credit. I’ve heard of the prepaid credit cards that report to the credit bureau, but some are $30 to start the account. I’m looking for the following:

- Reports to credit bureau, so that I can improve my credit.
- Low start up fee. (Under $10.00)
- Low monthly or annual fee (Under $10 p/month, $60 p/year)

If anyone knows, or has story about a good card, please respond. Thanks.
I appreciate the answers. I am looking for one that does not go through a bank. I don’t want to have to open a new bank account for it. I’m looking along the lines of a mastercard/visa/etc. Thanks.

Helen

Justagirl24 asked:


I have recently reveiwed my credit report through experian credit bureau. Several account paid are still reported as open. Do I contact the credit bureau or the credit agency itself?

Maria

Mark Andrade asked:




In addition to disputing incorrect information on your credit report, you can also add accounts to it that make you look more credit worthy. If, when you review your report, you noticed accounts that were not listed on it that paint you in a positive light, you can ask the credit reporting agencies to include these accounts on your report. Doing so will help in your quest to build a more positive credit rating and higher credit score.

There are three types of information you might want to have added to your credit history to build your score:

Explanation of any incomplete or disputed information Positive account histories not included in your report Information demonstrating reliable payment and employment, stability

Often credit reports don’t include accounts that you might expect to find. For instance, some major commercial lenders don’t report mortgages or car loans. Also, local banks or credit unions frequently don’t provide information to credit reporting agencies.

If your credit report is missing credit histories for accounts you pay on time, send the credit reporting agencies a Letter Requesting Inclusion of Accounts, along with copies of recent account statements. Ask the credit bureau to add information on these accounts to your file. While the agencies aren’t required to add account histories, they often do, but you might be charged a fee.

Another option is to go straight to your creditor and ask that they report the information directly to the credit reporting agencies. However, some creditors categorically refuse to do this as they only report to one or two agencies and won’t consider changing their standard business practices. But it’s worth a try.

You may find that credit histories for accounts you pay on time are only missing from one or two credit reports. The third report might already include all your accounts or maybe you focused on cleaning up that report first. If this applies to you, send the agencies with the missing information a copy of your all-inclusive report with a letter asking the missing data be added to your file.

Creditors also like to see verification of stability so consider asking any evidence you have of that be added to your account. Creditors are most likely to add updated information on employment and residences because it’s used in evaluating credit applications. However, if your report is missing data or contains obsolete or incorrect information on your phone number, date of birth, or social security number it is beneficial to update those as well to reduce the risk of account mix-ups.

Once you’ve repaired your credit, request a copy of your report from each credit bureau. You are entitled to one free credit report from each of the credit reporting agencies annually. Look for anything old or inaccurate. Conducting an annual credit check and adding positive accounts previously omitted, can help ensure you maintain the highest credit ratings possible and avoid being a victim of identify theft.

Diana

Conleth Onu asked:




Is bad credit ruining your life? Have you been denied credit because of negative information on your credit report? Do you want to learn how to make a good credit report instantly? If you answered yes to the above questions, you’re in the right place.

Having a bad credit record will make your life difficult in many situations. Nothing can slow you down faster financially than negative information contained in a credit bureau file. Sometimes, the information is true, other times it is deceiving or even totally wrong. What can you do if you believe that you have been turned down for credit because of inaccurate or outdated information?

There are some steps that you can take, to get rid of blemishes on your report. Your first step should be to get your credit reports from the three major credit bureaus. You can get a free copy of your report one time a year, and you can also obtain one at no charge if you have been denied credit within the past 60 days.

Once you have obtained your report, examine it carefully. Make sure that all information is being reported correctly. If you find any incorrect information in your report, you can dispute it with the credit bureau.

Send a letter to the credit bureau explaining your dispute. When filing a dispute, tell the credit bureau what information you believe is incorrect and the reason why. Include any documentation that would help support your claim.

By law the credit bureaus are required to delete negative items from credit reports whenever a particular item reaches a certain age. Also, inaccuarate or unverifiable information must be deleted from credit files.

If there are accounts on your report that need to be settled, you can negotiate with the creditors. Be sure to have the creditor sign and date the settlement proposal and return it to you, before you pay them.

Once you have finished eliminating negatives from credit report, and have a clean clear credit report, it’s time to add positive information on your report.

A secured credit card can help you build good credit. It looks and works like any other major credit card. Secured Visa and Mastercard are issued against your depositing cash in a financial institution. That deposit serves as a collateral for the credit card. If you maintain a good account, your excellent credit rating will be recorded on your report.

Another effective way to add positive credit information to your credit file is to take out a small installment loan from a bank and pay it back promptly.

You can also build good credit by getting Department Store and Gas Company credit cards. By having your very own major credit card, you can qualify for instant credit at many department stores and gas stations.

Once you have established a good credit rating, you will be eligible for loans, credit cards, and other items of credit.

Marie

C-Squared asked:


Can a regular person report an owed debt to a credit bureau? I have a judgment that I am trying to get paid on but am running out of options.

Monica

Conleth Onu asked:




It is often difficult for us when we have bad credit and not knowing where to start to get back on our feet again is even more frustrating.

If you have bad credit, you might want to check into a few resources that can help you find a solution to your credit problem. Life does not have to be difficult and all of us make mistakes.

Bad credit is an obstacle and if you want to run you are about to get yourself into a situation that you do not really need. There is always a solution to most problems. The problem most times is some of us do not have the means to find solutions to our problems.

In this article, I am going to make it quick and to the point, helping you repair your credit through the process.

So the first step is to collect copies of your credit report from the major credit bureaus. Credit bureaus compile and sell information about consumers and are a principal source of information about your credit history.

You are entitled to receive a free copy of your credit report if you have been denied credit within the past 60 days. If you have not been denied credit within the past 60 days, you can order your credit report by paying a fee.

Next, review your credit report watching closely for errors (items that do not belong to you). Dispute any errors on your reports immediately with the credit bureaus. Any errors or inaccurate information will be deleted.

Under the Fair Credit Reporting Act, all negative information seven years old or more must be deleted. Bankruptcy stay on credit report for up to 10 years or longer.

Once you dispute the negative information, you will receive a copy of your report from the credit bureau, showing the items that were removed and the items that were verified as accurate. The dispute method of removing negative information from your credit file can improve your credit rating.

The Internet offers credit report information, guides, and kits, which can lead you in the right direction to repairing credit. You might want to surf the Net for resources that can help you find a way out of bad credit.

Debbie

Steve asked:


I recently found out that someone had used me as a co-signer on a loan and was close to defaulting on it. I contacted the company and got taken off of the loan. over the last 120 days a payment hasn’t been made and that has been reported on my credit report. The loan issuing company has sent me a letter and told me that they have contacted the credit bureau’s. How long does this take to come off of my report and stop goofing up my score?

Kim