I been trying to fix my credit with a credit company where they ….?
removed accounts that are old etc… well i have me accounts that can’t be removed like hospital bills (no credit cards) if i call the creditor my self and paid it off can that be removed from my credit? please advise, i want to buy a house but i need to fix credit first. Thanks
To Repair your credit
Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you’ll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
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Sorry you went to the expense and challenge of involving a credit company. Usually, they cause as much or more harm than they solve.
The bottom line is that your credit has to be cleaned up before you can buy a house. And, YES, the traditionally accepted method to do this is "if i call the creditor my self and paid it off ".
As soon as you have proof of payment then you can dispute the item on your report and the credit reporting agency must then investigate and clear the item.
Good Luck
PS. Don’t contact the creditor until you have the full amount to pay them; otherwise, they will start calling you daily. ONce you have the full amount, it’s possible you can cut a deal for less (except medical payments), but get that in writing before you pay.
References :
If you have the funds to pay it in full, just call and say you want the derogatory info removed from your credit reports once the balance is paid. Make sure you get it in writing first.
References :
Retired bill collector 35 years
If you have overdue depts that you pay off, they tend to stay on your credit report for about 7 years, even if you eventually pay them completely.
If you want to have them removed from your report, you should get something "in writing" to that effect from the creditor before paying them off. But don’t expect them to do that if you negotiate a settlement for less than the full amount owed.
References :
To Repair your credit
Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you’ll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
References :
All you need to fix you credit is here.
http://creditreportchamp.com/