The credit Repair Thread

[L@CaT]

I ruined my credit during my college years. Racked up about 10k in debt. Eventually I stopped making payments on it all together.

Once I got my career started, I called every company that owned my debt and settled everything for 40-50% of what i owed. I was able to settle 10k worth of debt for 5k.

Few months later I started getting credit card offers again. My credit went from 500 to 700 in about two years.

You can settle your own debt for half of what you owe just by calling. There’s no need for debt settle companies to negotiate on your behalf. You can do it yourself very easily.

 

[The_Unchosen_One]

I fukked my credit over good back in college... maxed out cards at the bars and shyt.

Didn't make payments, they garnished my accounts and shyt...

Had all kinds of shyt on my credit report... nobody would touch me with a 50 foot pole based on my credit... always had to have a co-signer

Then started paying off some of the shyt on the credit report and had some things fall off after 7 years...

Got a credit card from capital one and would just put a few things on there and pay the balance each month...

Now my credit score is a 780...

 

[phcitywarrior]

What should I do if I have no credit (22 just graduated college).

I don't have any debt but I can't get an unsecured card. Do I just use the secured car until I graduate to an unsecured?

 

[N.J.stan]

just got an alert from credit karma that my shyt dropped 92 points from 730 to 638

I have no debt, no loans, no car payments, no credit cards.

Only bills I have in my name are insurance and PSEG. Insurance is always paid on time obviously, but I'm usually late on my PSEG. Is that what did it?

 

[.r.]

just got an alert from credit karma that my shyt dropped 92 points from 730 to 638

I have no debt, no loans, no car payments, no credit cards.

Only bills I have in my name are insurance and PSEG. Insurance is always paid on time obviously, but I'm usually late on my PSEG. Is that what did it?

You need to check your reports for an fraudgent activity. Another issue can be no credit files being reported. Sometimes positive reported file fall off after 10yrs.

 

[.r.]

What should I do if I have no credit (22 just graduated college).

I don't have any debt but I can't get an unsecured card. Do I just use the secured car until I graduate to an unsecured?

Check out creditboard.com.

 

[Ayo]

I ruined my credit during my college years. Racked up about 10k in debt. Eventually I stopped making payments on it all together.

Once I got my career started, I called every company that owned my debt and settled everything for 40-50% of what i owed. I was able to settle 10k worth of debt for 5k.

Few months later I started getting credit card offers again. My credit went from 500 to 700 in about two years.

You can settle your own debt for half of what you owe just by calling. There’s no need for debt settle companies to negotiate on your behalf. You can do it yourself very easily.

Depends on how old the debt is. If it's close to 7 years old you mind as well ride it out.

I'm sitting at 780 Fico 8 with a 6 year old (falls off in March) $150 collections originating from Verizon Wireless. They can go fukk themselves.

 

[Meadz]

I'm looking to open a Charles Schwab Brokerage account but I'm reading that they do a hard inquiry into your credit history before they give you one. I'm just wondering how badly a hard inquiry hurts your scores and how long it stays on there

 

[HookersandIceCream]

Late payments, accounts being closed going into collections, numerous accounts open, and parents messing up credit early on.

Noting you can do about late payments
Maybe call them and ask for it to be removed

Collections - Pay then off and instant bump
Ask for pay for delete however

Accounts being open not that much of a problem but having close to your limits being used will kill your score

 

[LeVraiPapi]

Noting you can do about late payments
Maybe call them and ask for it to be removed

Collections - Pay then off and instant bump
Ask for pay for delete however

Accounts being open not that much of a problem but having close to your limits being used will kill your score

No he should not pay off collections. Let it sit there and let them sell it to other agencies. Then, hit them with the letter, asking them to show proof of debt or remove it. This results in the latter 99% of the time.

NEVER PAY OFF COLLECTIONS

 

[.r.]

No he should not pay off collections. Let it sit there and let them sell it to other agencies. Then, hit them with the letter, asking them to show proof of debt or remove it. This results in the latter 99% of the time.

NEVER PAY OFF COLLECTIONS

I'll also say freeze all three credit files, it harder for collection agencies to add any more degr infro.

 

[HookersandIceCream]

Companies just do not remove valid debt
If you want to wait 7 years for it to fall off and suffer from shytty credit then go ahead.

So for 7 years you will pay higher interest rates and fees

Great advice

Waiting 7 year

No he should not pay off collections. Let it sit there and let them sell it to other agencies. Then, hit them with the letter, asking them to show proof of debt or remove it. This results in the latter 99% of the time.

NEVER PAY OFF COLLECTIONS

 

[HookersandIceCream]

I'll also say freeze all three credit files, it harder for collection agencies to add any more degr infro.

He wants to raise his score you retards

 

[ProfessionallyTrill]

Went from the 500s to the 700s in 6 months

 

[LeVraiPapi]

Companies just do not remove valid debt
If you want to wait 7 years for it to fall off and suffer from shytty credit then go ahead.

So for 7 years you will pay higher interest rates and fees

Great advice

Waiting 7 year

breh lol

I worked with SkyBlue credit repair. That's all I used to do for a living. No credit agency keeps your records for over a year breh. Once your account is sold to collection agencies for pennies, I can guarantee you they don't have any paperwork to back it up.

Once the debt goes to 2 agencies, it's a lost debt unless the person is uninformed enough to pay.

NEVER PAY OFF COLLECTIONS. DISPUTE THEM AND WIN