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fixing up my credit rating


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I used to have bad credit and spent a lot of time repairing it, years ago. i wish i had known about these boards then.

anyway, that being said, recently i have had a couple of negatives show up on my credit.

1. was a stupid sbc phone bill

2. is one 30 day late payment on a capitol one card.

3. lots of inquiries due to running a business.

((REGARDING #1))

it seems almost comical, but these two items have knocked my 725 score down to about 650. Not excluding the effect of an overloaded credit card, which has been subsequently alleviated.

Anyway, I disputed the sbc bill, because the collection company said that with these bills they would allow disputed items to fall off the persons credit report. so i disputed and guess what? it didn't come off. Big surprise. I called the collection company this morning and told them what happened and they said that they would have the item removed from all credit agencies and emailed me a letter to that effect, within 10 minutes. I almost fell off of my chair.

The question is: should i also go back and re-dispute the item, using the letter as ammo? or, should i just let the collection agency do their magic?

((REGARDING #2))

I had a ridiculous apr with this credit card, so I went ahead and did a zero percent balance transfer. once that was done, i called the company to cancel. it occurred to me at that moment, that i had leverage. i told them that the apr was stupid. they lowered it immediately. i also told them that if they could remove the one 30 day late, that it would go a long way towards restoring the warm and fuzzy feelings. call me a sucker, but the woman that i was dealing with seemed to really be struggling for a reason that she could remove the item. she finally said that technically they were required to report accurate items and could not remove them. she did say that she was going to file an internal investigation and see if there were any grounds to remove the item. i almost sensed a "wink wink" when she said that. anyway, should i just wait for this "investigation"? is there any method that i can implore to remove this item?

((REGARDING #3))

I have a few too many inquiries on my credit. is there a way to get them to go away??

thanks for taking the time to look at this.

paul

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I'm not an expert on all of this, but...

As far as 1 and 2 are concerned, technically, CRA are only supposed to report what OC tell them. So, if SBC is going to say delete, then it will be deleted...I'd give it 60 days to cycle and see what happens. If the one 30 day late doesn't get removed, it (by itself) won't hurt your scores too much.

As for all the inquires, do a search on the term "bumpage". Its a method whereby you enter your own inquiries and bump off the bad ones. I've never done it, but there those that say it works.

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I would define a "bad inquiry as:

Any excessive inquiry beyond the first or second that drags down your score;

Any inquiry that is connected to a negative tradeline; e.g., a collection agency inquiry.

I'm currently trying out truecredit.com as a way to bump inquiries. I've also heard it works, but after 3 weeks I have no bumpage so far to show. I'm hoping for bumpage by April/May.

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You have to remember that bumpage works differently for everyone. Some people experiance bumpage after a month of pulling, others (like myself) pulled for 6 months with nothing.. it isn't an exact science.

By bad inquiries I am guessing that you are refering to hard inquries. Those inquiries are seen by anyone that pulls your report. These have an effect on your score.

There is a seperate section for soft inquiries and this section is only seen by you, if someone else pulls your report they will not see those. These are the ones that cause bumpage if there is an excessive amount.

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Well, I can say that bumpage with truecredit has worked for me (TransUnion down to 2 hard inqs., Equifax down to 7 right know). You just need a little patience, from my experience you will see a result on TU first before EQ starts as well. Just in case we got any newbies here: Bumpage doesn't work with Experian... :cry:

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