First things first,I am a single Male at the age of 27 this week on Christmas
Ok,I just started trying to fix my Credit,I have let quite a hefty amount of Hospital bills and a few smaller amount accounts go for quite awhile.
Ok heres the deal.Before I started paying off and getting things cleared up,my total owed to numerous collection agencies was around $10,500,But only about $6,000 was legit,the other $4,500 was from another agency that was listed on my reports trying to collect the SAME bulk of hospital bills as another,the one that has them now is Remit-Corp,While the other is Penn-Credit,according to the lady in charge at the hospital,when you spoke to Penn-Credit ,They told her the accounts were closed and was not supposed to be on my reports,I also called them myself and they said the same to me,So I either called or went on each of the 3 CBA's and disputed all the accounts from Penn-Credit,I don't know what the outcome is yet,But for the sake of my question ,Lets say they get removed.
Ok,Other than the $5,400 I own to the one Hospital,Which added up to 10 of the 22 possible negative/collection accounts I had,While Penn-Credit accounted for 8 more,I only had 4 other accounts on collection,I will make a quick chart below
*Tyler Hospital(Remit Corp)10 accounts=$5400
*Tyler Hospital(PennCredit)8 accounts=$4056(these are same accounts as Remit Corp.
*Sprint bill=1 account=$593
*Internet bill=1 account=$241
*different medical bill=2 accounts=$270
I have settled and paid off all other accounts except for the Remit-Corp ones,But I have made payment arrangements with them to take $100 a month out for now and I made a $100 payment right then and there,And say all the Penn-Credit ones get taking off
and just leaves the 10 accounts for Remit corp for $5300.
My score right now according to my Bank when I tried to apply for loan said it was mid-high 400ish(This was just from Transunion I thing)
I have never had a Loan/Auto loan/Credit card or anything,Next month I will have a good mark from Paying off my TV I bought from Aarons 2 years ago as they report when it has been payed,I was never late with a payment.
So,How much can I expect my score to be raised after all this takes affect after they all report I have paid them off?
Any suggestions on how to better increase my score(I cannot find anyone to work with me as far as a loan or CC goes as of yet).Or answers will be greatly appreciated,and if possible me reply to this to my Email address as I don't know If ill find this site again.
Hello and welcome. I would say you could see a pretty good raise but you have to relize it will take time. My question for you is did you try to negotiate any pay for deletes? A pay for delete is when a collector or creditor agrees to remove a mark from your credit report if you pay off the debt. If you have not completely paid off some of these debt and are still making payments I would give them a call and ask for a pay for delete. If they agree you need to get it in writing. A pay for delete would remove the mark on your credit entirely. Look under helpful resources to the left of your screen, you should see "letters of credit" listed there. Click on that. I believe there is sample Pay for delete letters.
Credit score increase?
I asked for delete on a few of them after negotiating a discount for paying off the collection,Some agreed ,and 1 or 2 refused or just kept saying it will show "Paid".
I figured once it goes through on the report as being paid,I will try to dispute it and see if it will get removed,it has worked with one item so far.
But no,I never asked for them to write me for any agreement unfortunately,I was in a hurry to get them taking care of and paid off,I didn't start reading into these tricks or advice topics till after I already started paying them off.
What are the chances of the bureau's to delete the account once it has been paid if I dispute them,most of these are very old,The Hospital ones are about 6 years old and the next highest one which was my old cell phone bill through sprint is also about 6 years old.
Also,Do you think I should get a secured credit card for the time being to help raise my score?or should I stay clear and just wait till all these are paid and gone and just try to apply for another car loan?Any tips or advice on how to raise my score faster?
Hello guest, You should check the statute of limitations on those older debts! Unless I missed it I did not see your state listed or I could look it up. The older ones may not have to be dealt with and by paying on them you will have reset the statute of limitations time clock. They should fall off your report shortly as the reporting period is seven years. Let us know what state you are in so that we can check the SOL. Even paying the old hospitol and cell phone debts at this point do not do much good because it still shows negative on your report. It would list something like "paid as agreed" and that still shows you settled out the account and does not give a positive outlook to other creditors.
credit score
Hi..I wanna say 'Welcome to the Forum, too'!! It does take time to raise your score. I felt, SOOOOO many times, that I had the worst score in the world!!..LOL But, as I 'paid down' on what I already had, my score started going up. Take FIREYONE's advice on those debts, that the SOL has already passed. You don't have to worry about those anymore. They WILL be on your credit for (I think?) 7 years and some months. But, the older the debt is, the better. It can get overwhelming thinking about everything on your credit. 'One day at a time'..that's what I say.
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