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Level 2

How to Raise Your Credit Score

You can run into issues with this method if the debt collector sues you instead of settling.  Bank of America is one that likes to sue instead of settle.  Eventually they settled, but it added years to the process and my credit was hit the whole time as an outstanding debt.

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New Member

How to Raise Your Credit Score

You are correct. If a person uses this method, they should opt for the legal representation option. For me, it was only $12 per month. None of the CC companies sued. The all settled. That included Chase and Capital One. I have had no interaction with Bank of America. My credit union did attempt to sue but we settled out of court for 70 cents on the dollar. As I said, every other creditor settled for 50 cents on the dollar. 

 

You are right though. Be ready for a law suit. But take my advice and get the legal representation as part of the package. They will step in. The debtor will not even have to show up in court. Eventually, all the debtors buckle. They really have no choice. get something or get nothing. They just will not get the full amount.

 

I appreciate your comment. I did not mention law suits in my original post. It is something to consider.

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New Member

How to Raise Your Credit Score

This is bull**bleep**! My credit rating dropped 5 points this month and I did NOTHING different than I did last month. This is a scam.

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Level 2

How to Raise Your Credit Score

Here in TX at least there are lawyers that only do business with CC companies for suing card holders apparently.  I did enlist council that deals with this so most of what I know is from dealing with being sued and represented.  There are lawyers that all they do is defend card holders.  It's a big racket.  We did end up settling for about 1/2 of the amount.  Raising a credit score takes time, but 3 years after the settlement my score was back up around 720 and currently mid 700s.  I doubt it will go higher until two late house payments 5 years ago from my ex-wife drop off (in two years) after she took full possession of our home in a divorce.  Been married twice and twice had woman f'up my credit.  I won't share credit with a woman ever again or even a bank account...no thanks.

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Level 1

How to Raise Your Credit Score

I thought filing bankruptcy that your credit was bad for at least 7 years?? 

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New Member

How to Raise Your Credit Score

First off, do not pay a debt collector. Your contract is with the person with whom you borrowed from or owe. If anyone puts a debt collector on to you, Deal Only with the ones you owe. Call them and negotiate. Most people only want something even if it's only $5 paid towards the debt. Best if you make arrangements before it gets that far. Don't let it go to a debt collector if at all possible. But remember, you owe nothing to a debt collector, ever.

 

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New Member

How to Raise Your Credit Score

I have a few negative marks for on time payments which are over 5 years old mostly from my previous student loans before I was able to consolidate them. What can I do to remove them and will that improve my score?

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New Member

How to Raise Your Credit Score

Thanks for the info it helped.thanks

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Level 2

How to Raise Your Credit Score

You can't "remove" them.  They must clear as they get older.  Typically that is 7 years.  All you can do is maintain a spotless credit record to minimize their impact to your score.

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Level 2

How to Raise Your Credit Score

Your credit can recover somewhat with bad marks.  It does take 7 years for the bad marks to clear, but your credit will steadily improve the longer you maintain a spotless credit profile.

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New Member

How to Raise Your Credit Score

Your information was very helpful

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New Member

How to Raise Your Credit Score

 Thank u very much for ur credit advice. But i need more Info and answers;because I have been paying my housing rent on time for over a year.My question is have my housing rental payments been recorded with the credit companies.

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New Member

How to Raise Your Credit Score

ive tried everything and I keep gettingboxec up please don't make meo rotout here

 

 

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New Member

How to Raise Your Credit Score

Spoiler
give me a credit card let me prove im ready to be a responsible mother and adult
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New Member

How to Raise Your Credit Score

Ii went to a credit debt relief agency to solve my credit problems.  things were getting done and I was happy with my progress.  about 14 months they said they could no longer service my account and i should transfer my balance to a lending company. .    They referred me to Liberty Lending.  i now have 8,000 loan at 27% interest IT WILL TAKE OVER A YEAR TO PAY IT OFF.  CAN YOU RECOMMEND ANOTHER SOLUTION?

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