Low credit score

Submitted by creditisbadnow on Wed, 06/16/2010 - 15:26

I just recently started looking at my credit scores, they are considerably lower than I wish them to be. I have a few items on there from my past life that have come back to haunt me. I have come here to get advice on how to approach the credit reporting agency and the collectors in hope of getting my report cleaned up and having any hope of a better score in the future.

I have three credit cards on there, two that are 4 years old and 1 that is just a few months being reported as derogatory.

I think there is time to repair the one that is only a few months old, but have no clue where to begin.

I would like to pay off the ones that are four years old and have read some things on here about pay for delete. I am new to this repair thing and would appreciate any advice that you can give me.

I have a few payday loan issues that I will deal with in a seperate post, I want to stay focused on this on for just the credit cards.

I hope to hear from someone soon so that I can get a plan rolling here to move on with my life.

there is really nothing you can do about the old negatives now, if you are wanting to pay them off then find out who has them by looking on your credit report and see what kind of settlement they are willing to make. I think contacting the original creditor at this point of the game is a little late.

As far as the most recent one, you could contact the original credit and get it taken care of fairly easily.

Wed, 06/16/2010 - 23:15 Permalink

What state do you live in?
how old is this debt?
who is the original creditor?
Is the negative tradeline a Collection Agency or the Original Creditor?

when you say old negatives -- are you currently paying on the negatives?

Thu, 06/17/2010 - 13:37 Permalink

I live in Pennsylvania, I will have to pull my credit report and see what the dates are, the original creditors are providian, chase and capital one, I am going to attempt to take care of the capital one, it is the newest one and has a reasonable balance that should be manageable.

I will pull my report and see what the other dates are and let the forum know, I should be able to get to that information by Monday. Thank you for your intrest in helping me.

Fri, 06/18/2010 - 20:18 Permalink

Here is the statute of limitations information for pennsylvania, hopefully yours will fall into this catagory.

Oral Contract: 4 years

Written Contract: 4 years

Promissory Note: 4 years

Open-Ended Accounts: 4 years

Fri, 06/18/2010 - 22:53 Permalink

Thank you for the information, I was reading on here somewhere about 6 months after the statute of limitations, so is it the actual date of last payment or is it six months after the last payment? This is really confusing, I am not real sure what date to go by, can someone clear this up for me please?

Also what does credit card debt fall under, obviously it is not an oral contract but is it a wriiten contract or an open ended account? Not real familiar with this information or lingo, I would like some clarification if some one knows. thanks

Wed, 06/23/2010 - 14:12 Permalink

I live in PA, as well. I DO know the SOL is 4 years. However..I'm not sure about the 'last deliquent payment' thing. I'm sure one of the expert will get back to you on that one. Hang in there. Yep....alot of the "lingo" can be confusing. let me tell you, alot of people, on this site, have really helped me out.

Wed, 06/23/2010 - 14:46 Permalink

Thanks, Just when you think that you have a good concrete answer then you read a little more and there is something that puts a new spin on it or causes just a little confusion.

I appreciate your guidance on this, guess I will wait and see if one of the experts come on and clarify the confusion. So what makes one an expert here, do they work in the industry or is it by personal experience?? Just curious?

Wed, 06/23/2010 - 15:34 Permalink

it is a wonderful world to be in LOL, we have all gotten a pretty good education here. I understand where your confusion comes in, I myself had read the 6 additional month thing on here a long time ago but was not real clear on who was posting the information nor did I follow up on it to see if it applied here in pennsylvania. I always went by the statute of limitation information written and I really don't think they can go past that, I have never seen it in writing anywhere anyway.

Thu, 06/24/2010 - 11:32 Permalink

You make a good point about seeing it in writing, that makes sense, other wise it would say six months past the statute of limitaions date and the would make no sense at all.

Does each state have it own statute of limitations or does the federal government do it all for them? Is there much of a difference between federal and state law???

Tue, 07/06/2010 - 18:59 Permalink