Paid Everything off need help getting my credit up

[backtoschool]

The so called "credit repair places" work by constantly disputing items on your credit reports which temporarily removes them from your credit report. They do that on a continual basis being able to get them off your reports for several months but then, lo and behold, they reappear when they can't be disputed anymore and all has been verified with the creditor. That's all they do - they cannot remove items from your credit report that are valid, correct, etc.

Time is your friend in any financial situation...you need to ensure you pay all bills on time from here on out and never be late with anything. It doesn't happen overnight and you need to prove you are again creditworthy. Right now you are a credit risk.

I totally agree with Flamingo. I would also add that credit repair firms may actually damage your credit, because they send form letters and spam to the reporting agencies that end up causing your account to be flagged, thus making legitimate disputes more difficult. Once a reporting agency marks your disputes as frivolous (there is a flag for this in their systems) then it becomes much harder to dispute legitimate errors moving forward.

[hcorreia1]

I was recently approved for 2 unsecured credit cards with a yearly fee of course and a low limit, I was also proved for anew car loan which i will be paying off this year its a low loan. I am trying to bring my credit up around 620 right now its in the 500 so I can purchase a house within the next year or so. IS there anything else I can do except pay my bills on time to get my credit up?

I also have a friend who has a repo on his credit can that be removed some how?

[LSUTiger32]

I was recently approved for 2 unsecured credit cards with a yearly fee of course and a low limit, I was also proved for anew car loan which i will be paying off this year its a low loan. I am trying to bring my credit up around 620 right now its in the 500 so I can purchase a house within the next year or so. IS there anything else I can do except pay my bills on time to get my credit up?

I also have a friend who has a repo on his credit can that be removed some how?

You will not get any loan for a home within 2 years of your dischage unless you can prove the death of a wage earner or a serious medical issue. I am working that right now and trust me, it's tough. In that two years, your credit will heal nicely. Nothing can be removed from a report that happened. If your friend has a repo, it will be on there for 7-10 years.

[hcorreia1]

I did not file for bankruptcy I settled all my unsecured via settlements only 2 got a judgment and I was able to negotiate with them as well.
Wait did you not say this in on of your posts "Anyway, yes you can buy a home without a credit score. You rent and make on time payments and you show a good stable job history and income. People with good credit or no credit and that are good candidates for mortgages are having no trouble at all."????

[LSUTiger32]

I did not file for bankruptcy I settled all my unsecured via settlements only 2 got a judgment and I was able to negotiate with them as well.
Wait did you not say this in on of your posts "Anyway, yes you can buy a home without a credit score. You rent and make on time payments and you show a good stable job history and income. People with good credit or no credit and that are good candidates for mortgages are having no trouble at all."????

Yes I said that, but I never said it would be a week post discharge. If you settled all your debt, trust me you credit is just as bad. While there might not be a steadfast rule in your case, you are probably facing a similar fate in that you will be waiting close to two years. If you had a short sale or a foreclosure you can make that 3-4 years.

[hcorreia1]

I am fully aware that my credit is bad I am in the low 500. I an just looking to see if there is a way to help this process along.

[LSUTiger32]

I am fully aware that my credit is bad I am in the low 500. I an just looking to see if there is a way to help this process along.

I understand and I think you've been given some good advice. Clean up what you can and then all you can really do is wait. Time heals all.

[backtoschool]

I am fully aware that my credit is bad I am in the low 500. I an just looking to see if there is a way to help this process along.

Disputing any balances that are still showing on the tradelines you settled will help raise your score. Do this yourself however. Do not hire a credit repair firm to do it. It is easier to get paid charge offs off of your reports through disputing than unpaid ones, so you will probably have some luck if you dispute the negative tradelines. If your score is that low, then the balances are probably still showing on some of the paid charge offs.

[hcorreia1]

Thank you so much for the advice this actual helps. Any ideas how I would go about doing this?

[backtoschool]

Thank you so much for the advice this actual helps. Any ideas how I would go about doing this?

I would buy a copy of your reports online from each agency separately. If you buy from their site online, you are able to dispute online right then and there. If the disputes come back verified, then send a certified letter return receipt to the reporting bureaus (the address will be on the credit report you buy) disputing the same items. If the items are not verified in a certain amount of time then the tradeline will be removed from your reports. You will have some success with disputing online, but some more difficult items will have to be disputed with letters.

[hcorreia1]

Have you actually tried doing this? Is this what credit repair companies do, but they have copies of all the letter needed?

[backtoschool]

Have you actually tried doing this? Is this what credit repair companies do, but they have copies of all the letter needed?

This is what credit repair companies do exactly. Only they send form letters that are flagged by the cras.

[hcorreia1]

One of these companies that was refer to me said they will supply the letter but I would need to mail them. They do not email them so I can see what they are doing. Sounds like all I am doing is paying for the letters to dispute the items.

[LSUTiger32]

And do not open any new credit for years.

This should be good.

[backtoschool]

First, pay off all outstanding credit. (EVERYTHING). I would dispute everything I can with all three credit bureaus. This takes time and will be a huge hassle. Its a long process of calling/writing letters. And do not open any new credit for years. Once you fix everything wait 3 years and then apply for a mortgage. Companies look for 2 years + (so 3 years is a safe time frame) of good reporting credit history. Good Luck!

This is questionable advice and is being given by someone who just joined the board and posted an unallowed advertising link in their signature for collection services. Paying off all outstanding debt and waiting 3 years before repairing your credit and establishing new trade lines will do very little to help you, and may hurt you, since paying off the chargeoffs may reage your accounts, so the chargeoffs will look newer on your reports, and therefore have a higher negative impact on your score. If you do not establish positive trade lines, you will not have any postive credit history building, which will not help your score.