How can I remove negative marks from my credit report?
Dick W asked:
I need advice on how to remove negative marks off of my report. Right now all of the negative marks that appear on my report are at least 5-almost 7 years old and all but one has been paid after they were sent to collections. I currently am in good standing with the current credit that I do have (1 leased car and 5 credit cards). The negative marks on my report are all from when I was younger and did not understand the effects of not paying debt. I constatently monitor my report, and for some reason, I can not boast my score up from a 592. A few months ago I was actually at a 650 or so but I had a judgement posted from a medical bill I did not pay from when I was 19. I may need to speak with a professional as eventually I would like to buy a home and do not want to have an outrageous interest rate because of my past.
Lucille
I need advice on how to remove negative marks off of my report. Right now all of the negative marks that appear on my report are at least 5-almost 7 years old and all but one has been paid after they were sent to collections. I currently am in good standing with the current credit that I do have (1 leased car and 5 credit cards). The negative marks on my report are all from when I was younger and did not understand the effects of not paying debt. I constatently monitor my report, and for some reason, I can not boast my score up from a 592. A few months ago I was actually at a 650 or so but I had a judgement posted from a medical bill I did not pay from when I was 19. I may need to speak with a professional as eventually I would like to buy a home and do not want to have an outrageous interest rate because of my past.
Lucille
Ashley
my banker told me that while i’m paying down old debt i’m rebuilding my own credit. when dealing w/ creditors, U need 2 negoti8 4 a pay-4-delete agreement in writing. when paying, KEEP yer receipts. IF u kept them, u CAN contact ALL 3 credit bureaus & present PROOF from these receipts by giving the bureaus yer info, & copies of the receipts & a letter explaining each item on the report that’s been pd off. U need 2 specify the acct #s & the names of each creditior u pd. U CAN upd8 yer own file & ask 4 new copies of yer file.
Ronald
Derogatory items age off your credit file 7-1/2 years from the date of first deficiency. This is per the FCRA and nothing restarts the clock. The older the item, the less impact on your score.
That judgment took a huge bite out of your score. It will stay on your report for 7 years or the statutory limit for your state, which ever is longer — it could be there 10 years.
The only thing you can do at this point is wait out the 7 year reporting period and pay all your current accounts on time. You need at least a 24 month consistent, on time payment history to begin improving your score.
About a third of your score is based on the ratio of credit card debt to available limit. Carrying balances of more than 30%, hurts your score. Pay off the credit card balances and get a quick boost to your score. Otherwise, it’s just a matter of time.
Roy
YOu are not the only one who met this problem,I have met this type of problem before.I have good experience here to solve my similiar problem.
Cheryl
If you have credit defaults and you do not pay them they are there for life, just because you say you were young and stupid is not a good enough excuse. however, if you get a credit default and you do pay it in six years time it will be erased from your rating.
I’ve found some helpful info here too:
Take care.