5 replies to this topic

[kinga200]

Been on this board for a while and there are alot of insighful people here, so I thought I would go here first for this.

 

I was divorced a few years ago and my credit score got hammered around the 570 area. So I have been slowly increasing my credit score.  Bought a car and made timley payments over the years which brought my credit score up to 620. Now it is at that level wanted to buy a new car.  I came into some money and paid 80% of the note then my score went to 640.  I made the finaly payment to zero balance and went to my credit report thinking it would rise again, only to notice it dropped 83 points??? The only two items on my report are old small collections which were on my report when making payments on the car.  One is for $112 the other is $511, which I am still fighting on these.  But if they were on my report while my credit was rising this could not be the case for such a large drop. I know I could write to the reporting agencies but that takes time and I am now Ubering around till I get this fixed, if I can.

 

Dont know if anyone has been through this, I sort of feel helpless.  If so, any advice or direction is appreciated to expidite this problem will be greatly appreciated.

 

Thank you

 

Jim

 

 

[OEXCHAOS]

Check out "Good Credit is Sexy". You should be able to remove any and all dings. It may take legal action. I know that cleaning up my credit made me a couple grand in settlements (it was amazing how dumb those folks were over sub $100 dings that were wrong and that they couldn't validate). You can probably improving things with a couple more credit lines. Your score probably fell due to retiring an old line of credit.

I suspect that others have some insights too.

 

M

[Bernie]

DOn't know where this is at in legislation process, but should be of help this year.

https://www.creditka...rting-industry/

[pdx5]

From what little I know, credit scores improve when one is making lots of  payments on  time. Making more payments on time gets you higher credit score. If you pay off only loan you have and not making anymore timely payments, you can get dinged.

 

In my own case, I am trying to reduce my credit score down to zero so that no one will want to steal my identity.

Edited by pdx5, 18 February 2020 - 07:43 PM.

[Darris]

One of the things I noticed last year on my free Chase Amazon Prime Visa card credit rating report that ALL my open accounts and balances are reported and updated every week or so.  Additionally, all inquires, all delinquencies, all bad reports, and a lot of other subjects these people use were available as well.  If you need to monitor your credit rating closely, then credit cards like this that make all your credit issues available for free is a good idea.  As far as your issue goes, small amounts under a few thousand dollars can typically just be settled at a discount with a phone call.  I have done this with clients/friends 3 different times in the last 18 months with some level of success in each case.  I posted the categories I was describing at my twitter acct. Good luck.

 

https://twitter.com/...162870471741440

[kinga200]

Thank you so much for the advice and info. This is the reason why I posted here first. Just another perk on a great trading website.

 

Thanks you again,

 

Jim