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Please help I'm new at this.


bg182
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Ok I have alot of questions. First, I want to dispute 6 accounts as not mine or no knowledge, but I dont really know what to say... does anyone have a sample letter they can post up? and should I just start with 3 of them and do the other 3 later?

Also do most people actually pay for their reports and scores? I've just been trying to get them for free, I got Trans Union and Experian, I requested one from Equifax but they havnt gotten back to me... and I dont know how to get a free score. I just feel it isn't fair to pay for information that is about myself... and I don't have a credit card to even pay for it online...

Also, I've heard that getting a checking account with a debit card will increase your score, will this work even if I don't keep a very high balance in it? Like I'd probably deposit $60-$200 in it every two weeks, but then I'd go right out and spend most of it, leaving about $10-$20 in it for the rest of the two weeks.. if even that...

and also what are some of these abbrieviations?

I get: (if they are right)

CRA- Credit Reporting Agency

CA - Credit Agency

CO - Charge Off

EX, TU, EQ - Experian, Trans Union and Equifax

but what's?:

OC

PG

and there's others I cant remember...

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Ok I have alot of questions. First, I want to dispute 6 accounts as not mine or no knowledge, but I dont really know what to say... does anyone have a sample letter they can post up? and should I just start with 3 of them and do the other 3 later?

You can dispute them online if you have a report. It is easiest and you can print out a copy of the disputes. They have boxes to check like "No knowledge of account." Or, you can send in a dispute CRRR (Certified Return Reply Requested). There are letters floating around the board. Check the links and Sis' posts. She's the resident letter queen. Basically you are just going to write out the accts you are disputing or highlight a copy of your report and write either "No knowledge of account" or "Not mine". You can do your 6 at the same time, but probably no more than that is recommended.

Also do most people actually pay for their reports and scores? I've just been trying to get them for free, I got Trans Union and Experian, I requested one from Equifax but they havnt gotten back to me... and I dont know how to get a free score. I just feel it isn't fair to pay for information that is about myself... and I don't have a credit card to even pay for it online...

You can pull PrivacyGuard to see the entries on all three of your reports. It is not always exactly accurate, but it is a good way to get a general idea of what is going on. It is $1 for a three month trial. But, you will need a CC for that. ?

You can get TU for free once a week online by saying you were denied credit. Once you have an EX report, you can log on for at least 90 days using that report # online and it is updated for you. EQ is a little harder, but you should be able to get it if you were denied credit or are unemployed by sending a letter stating this. Once you start disputing, you get reports for free when they send you your results.

Also, I've heard that getting a checking account with a debit card will increase your score, will this work even if I don't keep a very high balance in it? Like I'd probably deposit $60-$200 in it every two weeks, but then I'd go right out and spend most of it, leaving about $10-$20 in it for the rest of the two weeks.. if even that...

I don't know about that. I have a debit card and they do not report. They only report my credit line with them. Need some others to weigh in on that one! If I were you, I would get a secured credit card. I have one from Direct Merchants Bank. You have to put a deposit down and then after a year of good payments, they give it back and increase your credit line. Mine reports as a regular, unsecured card. They do have fees, but it was worth it!

and also what are some of these abbrieviations?

I get: (if they are right)

CRA- Credit Reporting Agency

CA - Credit Agency

CO - Charge Off

EX, TU, EQ - Experian, Trans Union and Equifax

but what's?:

OC

PG

and there's others I cant remember...

OC is original creditor (who you got the original credit from)

PG is PrivacyGuard, as mentioned above. The site is PrivcyGuard.com

WK is worthknowing.com (TU report, somewhat inaccurate, good for bumping off inquiries from your TU report though!)

Any others, just ask?!?

Good luck and Welcome!! :D

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thank you!

You can dispute them online if you have a report. It is easiest and you can print out a copy of the disputes. They have boxes to check like "No knowledge of account." Or, you can send in a dispute CRRR (Certified Return Reply Requested). There are letters floating around the board. Check the links and Sis' posts. She's the resident letter queen. Basically you are just going to write out the accts you are disputing or highlight a copy of your report and write either "No knowledge of account" or "Not mine". You can do your 6 at the same time, but probably no more than that is recommended.

isn't sending a letter better than doing it online because it gives them less time to verify the accounts?

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Well, I was going to say no, but I guess in some cases it may be.

They have 30 days from the receipt of the complaint for their re-investigation. If you send it CRRR, then you know the date they recieve it, but there is probably a few day backlog, so you might squeeze a few days out that way. Online, I believe it is complete automated.

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Also, I've heard that getting a checking account with a debit card will increase your score, will this work even if I don't keep a very high balance in it? Like I'd probably deposit $60-$200 in it every two weeks, but then I'd go right out and spend most of it, leaving about $10-$20 in it for the rest of the two weeks.. if even that.....

I think this is a good question. However I did not see an answer to this.

If someone could let me know as well I would be greatful.

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A debit card will do nothing for your credit scores. You might be confusing it with a secured credit card where you deposit funds into a restricted savings account that in turn determines how much you can charge. Some cards report others do not so do your HW.

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BK = Bankruptcy

and

Re-aging can be bad or good

Good:

If you have a few lates, ask creditor to re-age - if they offer this and you meet their terms they can wipe the slate clean on reporting lates to your credit report.

Bad:

Means they changed the last activity date on your credit report to a later date, so that one - they can accomplish having this on your credit report longer then the 7 years. And 2 they can claim the SOL (statute of limitations) has not yet expired to give them more time to take you to court and sue for outstanding balances.

Have to really watch them creditors / collection agencies -

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