timbonh

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About timbonh

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    New Hampshire
  1. As an aside, but relevant to the conversation: It's interesting that I disputed the 4 items I described, all 4 updated to current dates because I did so, then shortly after my dispute items all closed and they were verified as me owing them, my credit rating jumped from ~570 up to 614. Still baffled as to why... I think at this point, based on your feedback, I will recontact the agencies and give another shot to the "pay for delete" approach. Even if I get only one to agree, it's a start. I might then go back after they all show as paid and dispute them again to try to have them removed in that fashion. It sounds to me that paying them off with a cash-secured loan vs. paying them off directly with my funds wouldn't impact much of anything, save perhaps getting me on the road to a slightly better score marginally more quickly. I truly appreciate both your feedback & assistance!
  2. I have zero other open accounts, so there is nothing needing to be paid down. I realize this drags my score down too, due to zero credit utilization. I'll work on that. So I guess your answer/opinion is that I would be better off (from a speed to better credit rating perspective) paying them off and then seeking a cash-secured loan to start the rebuild? As opposed to getting the cash-secured loan to pay them off and start the rebuild at the same time? Also, if anyone knows...is there ANY way to get delinquent payments off my report once I pay them? Has anyone successfully negotiated an "I will pay immediately if you promise to remove from my report within thirty days of payment" type arrangement? Is that even possible? My collections are all with collection agencies, Comcast, Verizon, a gas utility and a medical bill were original creditors. Thanks in advance for any advice!
  3. Hi Harry - I have spoken to the 4 reporting agencies and yes, was advised that they update it as "settled" or "paid" but don't normally take the item off the report. Since all 4 told me the same thing on removal, I assumed that was just the way it works. I'd love to find out I am wrong and can demand they remove it, but I doubt it is the case. The items are 3 yrs to 1 year old, so the "ignore til they disappear" approach is not an option.I need to deal with them immediately anyway so that I will qualify for a Parent-Plus loan in a couple of months for my son's fall semester of college. My endgame is #1 what I just mentioned and #2 to just have a better score as soon as possible. I have a great job and it is only my own fault that I have let this fester as long as I have. I'm curious if paying the debts with a cash-secured loan would expedite my score improvement or if just paying them off then securing the loan would be just as quick regarding score improvement, and potentially lead to better overall score improvement results.
  4. Hi Folks - Been looking to get a decisive answer on this to no avail: I presently have a 614 and have worked to get my reports all cleaned up. After disputing all items, I am down to 4 legitimate delinquent items, 3 of which offered me a lesser settlement amount. I could easily just pay the 4 items off immediately, which would leave my report as virtually no data, save an old car payment account showing closed and PIF, and my old mortgage showing closed and PIF. Or, I could get a cash-secured loan for $2k to pay them off and start building my credit. My question is this: Would I be better off doing the cash-secured loan now to pay them off or just paying them off then going back to looking into getting a cash-secured loan in say 30 days when my score has crept up a bit? Trying to avoid doing one or the other only to find out I have "made a common mistake" later. Your eagerly anticipated advice is greatly appreciated! Thanks!! - T