Working on credit scores/reports

[jennordhavn]

I have been working on disputing inaccurate items on my credit reports so I can raise my scores and hopefully purchase a house around Summer 2011. I had some old scores from November 2007 when my credit was almost at its worst. Check out my scores:

Transunion FICO: 11-20-07 / 531 - 3-29-09 / 470 (Down 61)
Equifax FICO: 11-20-07 / 457 - 5-27-09 / 592 (Up 135)
Experian: 11-20-09 / 464 (FICO) - 5-27-09 / 607 (Vantage) (Up 143)

Not sure what's going on with TU. My score was actually 532 about 3 weeks after filing. I have quarterly monitoring so it will update at the end of June and hopefully I'll be able to figure it out.

Since I filed BK, 6 collections and a public record have dropped of TU w/o disputes. 2 collections off Equifax and 3 negatives off Experian since Nov./Dec. 07. I am disputing a few items with Equifax and Experian that are in process.

I disputed my Macy's account with Experian as IIB since it was reporting a c/o and it came back confirmed. They didn't change it. Should I now contact Macy's directly and have them update the account with the CBAs? They were included on my Sched. F and matrix.

[halloweendmb1]

YES certified mail keep all records

[jennordhavn]

Update

Things are falling off left and right! YAY.

With TU I got 4 derogatory accounts removed and one public record removed. One of my accounts updated to a "better" status of paid after c/o instead of just c/o although I still think it should be IIB. I also got some old addresses and employment information removed. My FAKO went up about 25 points. I can't wait to get my real FICO at the end of the month. I just put in more disputes to try to get all of the collection accounts removed.

I disputed with EQ and one item was updated to closed and the other two remain. I sent a letter CMRRR to one of the accounts because they continue to report a balance due. I have more disputes in progress.

For EX I have sent a letter to Macy's to update the status to IIB. I got 3 negative items removed. I also got old addresses removed. I have more disputes in progress.

[Flamingo]

Keep monitoring for a while because disputed items disappear off your credit reports for several months until all verified and then they will return either as the information you disputed or updated. Many folks think the item is gone but since it is is dispute, it is temporarily removed.

To show you how incompetent some of the folks are who work for these places, we just recently obtained all 3 credit reports free for this year to remove all our BK information (if it wasn't already done) since our 7 year time limit passed in April from the date of filing our Chapter 13. The only thing remaining on all 3 credit reports was our consumer statement advising why we filed for Chapter 13. We requested all 3 places to remove it. TransUnion and Experian quickly removed it sending us an updated report in the mail. Equifax, however, said they followed our instructions and updated the statement and sent us a new report showing the same statement. Huh? We sent letters back, signed by both of us, enclosing a copy of the letters sent to them by both of us to remove the statement, a copy of what they sent us in return, and asked there where in that information did we request them to update, not remove, our Consumer Statements?

It's a long process...be prepared to be disputing items for a long time...we were still disputing over 2 years past our discharge in 8/06.

[jennordhavn]

Thanks Flamingo. I am definitely on the lookout for reinsertions. Luckily I have time on my side.........I want to buy a house in 2011 if I can save up enough money........I'd like to own a home before I'm 40 so I have until March 2012 to accomplish my goal!!

I got 2 more baddies of EX. One was deleted and one was moved to positive status (which is what I asked for, it's a student loan). Also, 2 of my new TLs started reporting yesterday. So now my positive accounts outnumber my negatives. YAY!!

[kvangild]

jennordhavn,

Are you just going to each individual credit reporting agency to dispute this? Or are you using one of those 3-1 reports? Basically I'm just trying to use the "least expensive" way of disputing items for the big credit reporting companies once I get my discharge sometime next month.

[jennordhavn]

jennordhavn,

Are you just going to each individual credit reporting agency to dispute this? Or are you using one of those 3-1 reports? Basically I'm just trying to use the "least expensive" way of disputing items for the big credit reporting companies once I get my discharge sometime next month.

First I ordered all three reports FREE through annualcreditreport.com. Then I went to each individual site to dispute items. I have been doing online disputes, which some don't recommend, but it's been working for me so far. Once your dispute is resolved, you get another copy of your report. Once you have an EX report number, if you log onto their site, it updates automatically. The other two don't do this, but you can get in through the "backdoor" if you've been denied credit or some other reasons.

I also signed up for TU quarterly monitoring and EQ scorewatch through myfico.com. That is about $11/mo. using discount codes (you can get the codes on creditboards.com). I also signed up for a free trial of TrueCredit which allows daily pulls of TU and monthly pulls of EQ and EX. After the first month it's $15/mo. I am going to keep these services for awhile until I am not doing as much repair. I think it's worth the cost given that it could save me thousands later down the line if I get a better interest rate on a mortgage. These are great for reports, but if you want scores the only true scores are FICOS. You can get true TU and EQ FICO scores at myfico.com, transunioncs.com or equifax.com. EX no longer sells FICOS so you can't get a true score from them.

You should check out creditboards and myfico, both have great credit repair forums full of great information.

Good luck.

[kvangild]

Thanks jennordhavn

[jennordhavn]

Update

I got my TU report and score, the score is up to 518 from 470. My EQ score is at 591 (-1 so about the same). There was one more negative item removed from TU and I still have a dispute in progress. EX and EQ have removed a few more negative items also.

The certified letter I sent to Macy's worked because they updated my account to IIB.

[RK05]

I have been trying to get some things removed from my fiancees reports. Did you say that you had some collection type accounts removed?

My fiancee has two accounts listed under "collection" and one under "other". Two were included in her bankruptcy and are listed as derogatory. I didn't think that these could be removed?

[jennordhavn]

I have been trying to get some things removed from my fiancees reports. Did you say that you had some collection type accounts removed?

My fiancee has two accounts listed under "collection" and one under "other". Two were included in her bankruptcy and are listed as derogatory. I didn't think that these could be removed?

A lot of my collection accounts just fell off my report on their own. I would say about half. The other half, I have been disputing as "no longer liable" or "verify status" or something similar. Some have been verified and some have been deleted. If they aren't deleted, make sure they are listed as IIB with a zero balance.

[RK05]

They are listed as either paid or derogatory with zero balances.

Do you think I should dispute them using your terms "no longer liable"?

[jennordhavn]

They are listed as either paid or derogatory with zero balances.

Do you think I should dispute them using your terms "no longer liable"?

I think it's worth a shot. Technically you are no longer liable for it, so you are being truthful. If the CA doesn't verify, it will fall off. You should check out creditboards.com. There is a ton of useful information to help with cleaning up reports. Good luck.

[Tom_Mi]

I have a question....

I just mailed some corrections, using the letter that myfico creates for you.

How long will it take for the bureaus to read my letter and make the corrections? A week? A month? 6 months?

Just curious.

[jennordhavn]

I have a question....

I just mailed some corrections, using the letter that myfico creates for you.

How long will it take for the bureaus to read my letter and make the corrections? A week? A month? 6 months?

Just curious.

I think they get 30 days plus 5 days for mailing.