Fixing my credit and have a few question about report?

Question

I have pulled my credit directly from all three reporting agencies and I want to start fixing my credit. I have a few questions about what is being placed on my credit.

1.) An acct I paid off reads paid, closed/ collection account - Is this what it is suppose to read and is that good?

2.) I had a car reposesed in Oct of 06. The original car loan was for about $15k, I paid approx $5k on the car before getting into trouble. I know they sold the car at an auction for about $6k. so I shoudl owe about $5k, plus some legal expenses. It is reporting Original Amount of $10,500, with a $7,120 is written off (whats that mean?) and a $0 balance as of 12/2006 (under recent balance) But last payment recieved was 12/06 for $5645. So I am confused on this debt and it is one of the things I want to really fix (as it is the highest debt and I want to buy a car in the future).

3.) A credit card I had about the same time I lost my card is reported on my report as Status: Transferred, closed/ account charged off. $311 Written off. Again, what does that mean? If this account has been sold to another creditor (as it states) why are they reporting the debt as well? Further down my report the other company is reporting the same debt, so i am getting a doubly whammy for the same acct.

4.) A company shows a recent payment on an account that I have NOT paid on. This is actualy the new company from question number 3. They show I made a payment of $675 this month, but I did not. Why would they say this?

5.) Why does only one company show my Balance History?

6.) I have inquiries on my report that I do not know how to explain (like an Attorney from Paul Law Offices in UT. I live in WA state and have not contacted an attorney for any reason. The inquiry was made 06/2008.

7.) I have a judgment against me from an old roommate for a phone bill she said I owe, the courts agreed because I could not show up (I was in hospital having a baby). I have paid this back to her and she has yet to report it to the courts that I paid it. What do I do, she wont answer my emails, phone calls, or Certified Letters asking her to let them know I paid it. Plus I was an idiot and didn't keep a record of payment.

8.) I have a judgment from an apartment complex that I was evicted from and I want to pay this off. However now a days even if it is paid off you can not find an apartment to rent to you if you have an evictions (paid or not). How can I get a judgment removed from my credit? I read somewhere if you get the plaintiff to agree to it being removed they will, but is this true?

9.) Under my personal information I have tons of aliases. Mainly they are mis spellings of my last name, but it will report that mis spelling several times because they will add my middle name, or report last, first and then middle. Does this hurt my credit and how do I fix it. I have only had two last names, my maiden name and my now married name. My mothers name is listed as well as a name I am known to go by. Believe me this is not true and I would never want to be known as her.

10.) I moved a lot and does the number of addresses hurt your credit, some of the addresses are reported three or four times even though I have only lived there once.

11.) I have been told that my credit wont be repaired by paying opff certain debts. Many of these debts on my report are for under $100, to $300 and I can easily pay those off. Will it improve my score by doing this? Can I call these debt places and give my address to get statments and such so I know I am paying the correct agency? Are they required to send me a statment (I had a credit agency refuse to mail me a statment before)?

Do you have any other suggestions that may help me? I am not looking to get credit or anything like that, but here in the next two years I want to be able to buy a house and what not. My low low credit scores are hurting me and I want to fix it.

Answer 1

You have a rather large bag of problems here....and it would take an extremely long message to cover them all.

I have actually answered most of these question in the past, so a fast review of my answers will be a good place to start.

Next, you have a lot of homework to do.  I suggest you visit the links below.

http://www.creditinfocenter.com

http://www.creditboards.com

Read the Fair Credit Reporting Act (Yahoo Search for it).  Also the Fair Debt Collections Act.

What you didn't supply are date of when these debts became delinquent.  Remember that they will drop off automatically after 7 years, so if that fits into your time frame don't even worry about them.  

Judgments remain on your report whether paid off nor not.  They are public records and will stay on for 7 years.  

After you have done your research, if you still are confused or need specific advice, contact me.  I am not an attorney or credit counselor, but I've helped a lot of people deal with credit repair and dealing with collection agencies.  

Answer 2

No amount of money you are willing to pay a credit repair company can *fix* the bills you haven't paid on.

Grow up, pay your bills on time, and then maybe in 5-8 years when all the bad stuff finally falls off of your credit report, you will have a better credit score and can again start to think about buying that house.

Answer 3

this site should be able to help you out: www.creditscore.pro

Answer 4

Don't listen to people who tell you that credit repair companies can't help you! I am living proof. Lexington Law repaired my credit so that I could get on with my life and not have to wait 7 years because of a few mistakes I made in the past!

http://credit-repair-story.com/lexington...

Answer 5

1. A paid collection is a bad thing, but at least they cannot sue you over it if you paid in full.

2. A charge off is an accounting term that means they no longer consider your account an asset. It is also a bad thing. You can offer to settle the amount owed either by lump sum or making payments. You can try to get them to do a pay for deletion agreement, but they probably won't do it.

3. The original creditor can report the account as a charge off and the collection agency they sold it to can report it as an open collection.

4. I have no idea why they would show a payment that you did not make.

5. Because it looks like all your other accounts are negatives.

6. That law firm is probably trying to collect on a debt for one of the many companies you owe money to.

7. You can dispute the judgment as having been satisfied and see what happens next.

8. A judgment cannot be removed by the plaintiff. The court must fail to answer a dispute for it to be removed. This is hit and miss, and from what I have seen more miss than hit. Feel free to dispute it if you want though. And you might want to try checking out single home renters instead of apartment complexes. Single home renters generally just want someone with a steady job who won't cause any trouble

9. You can dispute the erroneous information with the bureaus and see if it falls off.

10. The nomadic lifestyle does not factor into your FICO score. It may, however, impact your ability to obtain credit from lenders.

11. Pay for deletion will probably work wonders for you on those small debts.

One final suggestion would be to break up your questions into shorter, easier to read segments.  

Answer 6

Bottom line is that this is too complex and detailed a case to be answered in this forum; you need professionals to advise on all from debt settlement to save money to credit repair to fix negative items to tradeline programs to help rebuild your credit.  Check out the source website and their free evaluation form.  That's all I got.