Seeking help with my Credit

[Gregory17]

Hi I am just starting to take control of my credit was hoping I could get direction on how to attack my issues. Here are the details of my credit reports

Experian: Score 580

2 Credit cards payments are on time and 15% Utilization Rate

1 Auto Loan with three late payments 30 days, 30 days and 60 days late

1 Bank Charge off, credit card $5,000 its 7 years 1 month old but still hasnt been removed from my account

5 Credit Card inquires 1 Loan Inquiry.

Equifax: Score 547

2 Credit Cards Payments are on time 15% Utilization rate

1 Auto Loan 2 Late payments 30 Day, 60 Days

6 Credit Inquires (Car loans, Credit Cards, Loan)

Transunion: 562

2 Credit cards Payments on time 15% Utilization Rate

1 Auto Loan 60 Days Late

3 Collections Medical Bills for a small amount ($148, $137, $60)

3 Inquires Credit Card, and an Auto Loan

Any advice would be appreciated on where to start and how to get rid of all the negative reports as best as I can.

I was planning to add some trade lines and possibly dispute the collections, late payments, Inquires. What do you guys think? and is this something I can do on my own or should I hire someone? 

Thanks in advance

[Clydesmom]

8 hours ago, Gregory17 said:

I was planning to add some trade lines and possibly dispute the collections, late payments, Inquires.

You cannot dispute off inquiries.  Forget about that.  Disputing is not about throwing anything at the bureau and seeing what sticks. If the information is accurate all your dispute will do is cement the information to your report.  The best way to remove late payments is a goodwill letter to the creditor.  Keep in mind that since the great recession/depression of 2008 many have a hard line stance against doing this.  If after several tries to the correct executives asking for removal they won't budge just keep paying EVERYTHING reporting on time to put distance between you and that last late.  

For the medical collections how old are they?  If it is several years then disputing might get them removed if the CA is no longer servicing the accounts.  If the accounts are verified pay for delete is usually the best option on those.

You need more positive information reporting.  I would suggest another credit card and using the AZEO method.  That means all your cards report a zero balance monthly except ONE which reports less than $50.  This gives you your best scores until the late payments are removed or get so old they no longer have a major impact.  You already have a loan reporting which is a good mix.  If you get the medical collections removed that will have a score impact on that bureau only.

8 hours ago, Gregory17 said:

What do you guys think? and is this something I can do on my own or should I hire someone? 

You need to do this yourself.  Learning to manage your own debt is the best way to always be in control over it.  Paying to have this done is never recommended.  MOST of it is fraudulent anyway and many times they make more problems than they solve.  It is also wasted money and expensive.

DO NOT pay for the free credit reporting.  You can get weekly free reports from all 3 bureaus at Annual Credit Report until April 2022.  Those are the most accurate.

Where did you get those scores?  If it is from your membership or Credit Karma they are NOT accurate.  You might consider purchasing a 3 bureau report from myfico.com one time to see what ALL your credit scores are.  Those will be accurate.

[HenryParisi]

On 5/15/2021 at 5:35 PM, Clydesmom said:

You cannot dispute off inquiries.  Forget about that.  Disputing is not about throwing anything at the bureau and seeing what sticks. If the information is accurate all your dispute will do is cement the information to your report.  The best way to remove late payments is a goodwill letter to the creditor.  Keep in mind that since the great recession/depression of 2008 many have a hard line stance against doing this.  If after several tries to the correct executives asking for removal they won't budge just keep paying EVERYTHING reporting on time to put distance between you and that last late.  

For the medical collections how old are they?  If it is several years then disputing might get them removed if the CA is no longer servicing the accounts.  If the accounts are verified pay for delete is usually the best option on those.

You need more positive information reporting.  I would suggest another credit card and using the AZEO method.  That means all your cards report a zero balance monthly except ONE which reports less than $50.  This gives you your best scores until the late payments are removed or get so old they no longer have a major impact.  You already have a loan reporting which is a good mix.  If you get the medical collections removed that will have a score impact on that bureau only.

You need to do this yourself.  Learning to manage your own debt is the best way to always be in control over it.  Paying to have this done is never recommended.  MOST of it is fraudulent anyway and many times they make more problems than they solve.  It is also wasted money and expensive.

DO NOT pay for the free credit reporting. You can get weekly free reports from all 3 bureaus at Annual Credit Report until April 2022.  Those are the most accurate.

Where did you get those scores?  If it is from your membership or Credit Karma they are NOT accurate.  You might consider purchasing a 3 bureau report from myfico.com one time to see what ALL your credit scores are.  Those will be accurate.

Thank you for the detailed information and clarification on the credit report