Comments for Credit Bureau Phone Numbers

Comment on How does the negative stuff on my credit report go away? by candy girl

candy girl — Wed, 16 Jun 2010 13:17:59 +0000

Well with the 7 years it can be started over so it could never go away. If a new collection agency buys your account from another agency then your debt starts back over from day 1 so waiting on the seven years is not the smartest idea. Maybe file bankruptcy
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Comment on How does the negative stuff on my credit report go away? by spifiman1

spifiman1 — Wed, 16 Jun 2010 12:38:59 +0000

It’s 7-years from the date last reported by the lender. So it could stay on your report forever if your lender keeps reporting that you owe them.

The only sure fire way is to pay it off, and then it will go away 7-years later.
References :
Special Finance Manager for over 7-years.

Comment on How does the negative stuff on my credit report go away? by B.B

B.B — Wed, 16 Jun 2010 12:24:59 +0000

U have to pay them in full, then it takes 7 years for them to be removed
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Comment on Do the three credit reporting agencies use your wealth when they calculate your credit score? by ovationlj

ovationlj — Wed, 16 Jun 2010 12:22:59 +0000

They would be the same. So neither.

Credit Score has nothing to do with wealth.

I could make $900k a year and you could make $50k a year and we could both have around 700 credit score.

Credit Score is based on credit. How much credit are you allowed? That is what determines your credit score.

Have you ever heard of the term no credit is bad credit? That’s because no credit, means 0 credit. And if you are allowed $0 in credit, then you don’t have a good score.

So say you pay your bills on time such as electric, phone, cable, etc. It has nothing to do with your credit score. But if you negelcted to pay your bills on time, and they turned it over to a collection agency, then it would reflect poorly on your credit score.

So in order to get a good credit score, you have to USE credit. That means yes, you need credit cards, loans, etc to build your credit.

Paying your phone bill, etc. on time does not help out your credit.

Being negligent to your phone bills, etc if turned over to collections can affect your credit in a bad way.

So keep in mind that wealth and normal bills won’t do anything to your credit score.

How much credit and how you handle that credit determines your credit score. Lots of credit and paying on time, is the best way to get a high score.

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Comment on Can the credit reporting agencies keep negative info on after 7 years? by Ted

Ted — Wed, 16 Jun 2010 12:03:59 +0000

If they do, they are violating law by re-aging the account. If you pursue the collection agency for re-aging those account in small claims court it is usally $1000.00 per violation.

Collection agencies are pretty dumb and will create serveral violations in your process to take then to court.

Agian this is call re-aging and specifically prohibited by law.

Next. There is a Statute of Limitations (SOL), a limited amount of time that any creditor (other than the government i.e. taxes, student loans, govenment medical care, judgements) can legally collect a debt. Each state this time frame varies, however many states this time is 3-4 years.

It is against the law for the collection agencies to report inaccurate data. It is also against the law for collection agencies to continue collection activities on debts that are are legally uncollectable.

So you can see where they are violating the law in several areas.

As I post all the time……A free public service message board is availble to learn how to take care of issues such as these is http://www.creditboards.com
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Comment on How does the negative stuff on my credit report go away? by sillythebard

sillythebard — Wed, 16 Jun 2010 11:58:59 +0000

It depends on the creditors. In 7 years your stuff goes off your report, bad or good. You can also find out who holds the report and call them to dispute anything that you don’t think should be on your credit report.

Most banks can give you the information on who holds the account on your credit.

hope this helps
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Comment on Do the three credit reporting agencies use your wealth when they calculate your credit score? by Brother Otter

Brother Otter — Wed, 16 Jun 2010 11:51:59 +0000

A variant on another question you asked…

The guy who pays all his bills on time has the better score.

What don’t you believe???
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Comment on Are credit bureaus in cahoots with credit card companies? by SPIFIMAN1

SPIFIMAN1 — Wed, 16 Jun 2010 11:48:59 +0000

To have good credit you must have used credit and paid it as agreed.

The only way lenders have of judging someones willingness and ability to repay them is to look at their history and see how they paid others.
References :
Finance Manager for over 7-years.

Comment on Is the JC Penny credit card good to start credit with credit bureaus? by steve

steve — Wed, 16 Jun 2010 11:31:59 +0000

Sure.But they probably won't approve either.Try First Premiere Bank.$250.00 limit.They'll take out $175.00 and you'll start with available $50.00 and $20.00 payment.I went ahead and paid the balance.You've got to start somewhere.
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Comment on Do the three credit reporting agencies use your wealth when they calculate your credit score? by SPIFIMAN1

SPIFIMAN1 — Wed, 16 Jun 2010 11:29:59 +0000

No they do not credit scores are based on the following factors only;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

The credit bureaus have no way of knowing how much money people make.

So consumer A would have the better socre.
References :
Finance Manager for almost 9-years / 2008 edition Consumer Action Handbook.