Credit Score Repair Journal for JGREER From 552 to ??? 850?

Okay so it is Thurday Feburary 11th. I have pulled all 3 reports and scores, pay attention.

Transunion 616

Equifax 552

Experian 573

These are only scores!!! Scores are difficult to figure out how they are computed because each agency and lender calculates their own score.

Here are the major discrepancies between the 3.

Collections

Transunion- None

Equifax- 2

Experian- 3

Here is the problem with collections. Who, what, where, when, how, and why that collection is there varies between all 3.

Transunion- No Collections

Equifax- has NO information on Who charged the collection, or how to contact that collector. Only the dates, and the amount with a Collection Agency Identification Number, not a phone number or address. Currently it shows 2 paid collections of $30. I have no recollection of those paid collections. Now I could have missed payments for a copay amount of $30 dollars for doctor charges when my son was born, it was a very busy time and this may be honest, but I cannot find any paper statements for a collection.

Experian- has 3 collections total in the summary, but only 2 on the report? They have the collection agency name, but no contact info. One amount is for $44, the other for $30. Again I do not have any paper statements for these amounts.

Here is what I am doing, I challenged these collections as innaccurate. I sent out my letters to Transunion and Equifax.

Today I will draft my dispute letter for Experian.

But the bottom line is that I am not worried. If I go to a bank and do not let them know of anything that is negative on my report (HONESTY) I will likely be denied not based on my score or report, but on my integrity and character.

Only deal with banks that do NOT use a computer to make the decision, only deal with banks that use humans to make the decision.

The other descrepancies are from negative remarks for late payments. Again not all 3 Agencies report the same information.

Transunion has 16 negative remarks

Equifax has 20 negative remarks

Experian has 8 Negative Remarks

Compare the negative remarks to the scores!! Doesn't make sense, huh?

The bottom line is this NO ONE IS PERFECT. This is understood by bankers, if you explain yourself and the situation you were in when the negative remarks were recorded, you will show that banker the most important traits of character, integrity and honesty!

Secured Loans

Go to your credit union and JOIN! Deposit $500 into a new account, apply for a secured loan of $500. Leave in account. Let loan pay itslef back. I have the privelige with my Credit Union for employees where I work that can take secured loans for 3%. THis will cost me $15 dollars over a year to improve my credit by adding an account in good standing to my report.

The loan amount, or length of loan is less important when compared to the total anount of accounts in good standing.

Monday I am taking out a loan for $500.

How do you spell DONE? D-U-N!!

So I forgot to look a calender when I said I was going to the credit union on Monday to get a Secured Loan, and that monday happened to be Presidents Day!

So did I go Tuesday? no. I was at my J.O.B. until 7 PM. Wednesday my Credit Union is closed (they only open the doors from 12:00 to 4:15 Mon, Tues, Thur and Fri) Thursday I helped my dad with a property he has under contract with marketing it to potential Buyers. Today is Friday and I am meeting with an owner of about 40 Aprtment Units.

I did find out though how their Secured loans work. If you put any amount into your account you can take out 100% of that amount for a loan at 3% interest for 2-5 years. If I pull a loan for $1000 at 3% for a year it will only cost me $30 of interest and $85 a month for payments!

8 days into an investigation for my Dispute letters, 22 to go to see results!

Okay, let me understand this by sharing with you that I am a Gov. Worker for 13yrs now and I am a member of a C.U. I went to the C.U and took out a loan and set up repayments through my payroll dept. Now what I have found out by my C.U is that they do not report the loan to the Credit Bureaus (so they say) and I became very annoyed with this information. So, I pulled my credit report and sure enough, there is no report of my past and present loans - so I too had to do a dispute letter to transunion with a copy of my loan agreement. Now waiting for a reply back - my transuion score dropped to 454 from 525. Why? I am checking into this. I also questions the C.U by asking why they do not report this. When I first applied they went into my credit (which shows on the inquiries) but now they say they do not report it. Trust what I am saying, this is not over with yet. Good luck to you.

525 down to 454? I do not know how that happens so fast? I am not a credit repair specialist. I have the empowering conversations DVD series from Dean and the first 2 I got were Joe and Stacy Jurek and Jeremy Roberts on Credit Repair.

Jeremy Roberts made some sense of complicated stuff. You said that you had sent a letter and that you are awaiting your results, but when did your score go down? I don't think it had went down due to a dispute letter while there is an investigation, but anything is possible! Don't worry all things can be turned around in life!

My Credit Union that I have my mortgage with for my rental property does not report the mortgage to any of the three credit reporting agencies. But they do report the signature Loan that I have with them. Every Bank has different rules and regulations about everything. The only thing you can do is talk to them all!

Good luck to you as well. Keep me posted on this thread with your credit improvement process.

I use www.myfico.com to get my transunion, and experian scores and report. I just go to www.equifax.com to get their score and report.

myfico.com is great to view your report. You have to pay for it, but they have many different products. You can buy score and report individually from transunion or experian for $15 each. Or you can get 4 transunion or experian reports and score for about $50 Dollars and save $10. myfico.com has some neat tools to show what things you need to do to gain the highest score improvement in the shortest typical time of 2 years. You can also simulate what your score would be if you applied for a new Credit Card and transfered all of your balances to it, or got a loan for a car, paid all of your cards off tomorrow, and more options.

The thing I really like is how they help you draft a dispute letter. You can check off each account that has negative remarks you want to dispute. You can put in your own remarks and explanations for each account that you have a dispute with. When you view the letter online in the webbrowser just copy and paste it into a new word document to make your necessary changes, print, and mail it out.

Don't worry about trying to get your report for free. Just pay for it and draft a dispute letter. in the closing paragraph request a copy of your report showing any changes and corrections to your report.

When you get that report with changes and not all of the negative remarks you disputed have been removed yet draft another dispute letter for all negative remarks still remaining and make sure in this second dispute letter you again ask for a copy of your report showing any changes and corrections made.

If there are still negative remarks draft a third letter . . . . and so on and so on until all negative remarks have been removed. See what I am getting to? a free report every month or so!

If you have questions post them here.

http://www.deansmedia.com/play.php?vid=165

Copy and paste that link into your address bar. This is my video that was edited down from over an hour to 2 Minutes! They got me to the point!

Anyway in my video I state that i was able to get a loan with a 585 credit score. I wouldn't say it if it wasn't true! After I made my post about my deal I was contacted by Deans assistant Megan about my deal and if I would fax them documents to prove it. I sent them everything! my closing documents, the appraisal, my credit score at the time of my loan application, and the purchase agreement.

I hope my video will help to inspire people to take action and prove themselves wrong. I know I proved myself wrong when i got a yes for my loan! I thought there was no way I was getting a loan! I was in the mindset that i was going to be denied for a loan, and I was prepared for that. If I was turned down i was going to ask what I needed to do to get a loan. I would make the best of the time with the banker.

One thing I want to let everyone know is that when I made my offer on the property it was a full 7 page Illinois purchase agreement signed by the buyer and seller. And I did it without a proof of funds or letter of Approval! I asked for time after having a signed agreement between the seller and I of 14 business days to find funding.

You Don't know what you Don't Know, unless you ask!

If you are afraid of making offers because you don't have an LOA or POF just ask to have 7 or 14 Business days to find funding. Just explain that you don't want to have to many inquiries on your credit report. If the sellers are unsure about it, offer to make a higher earnest money deposit to show how serious you are.

Be creative!

If you are in a position where you can't get a conventional loan, go for owner financing. Get a Contract For Deed that you can negotiate a down payment that is much lower than what a bank would require with less closing costs. A contract for deed can be refinanced depending on the bank for 85% of the appraised value. In other words you can pay 5% down, buy it a price atleast 30% below FMV, take over the property's cash flow, refinance in 3 years and get back your down payment money, repair money, and don't forget the cash flow you had for 3 years!

Good job staying on top of it.

Thanks for sharing this Credit Score Adventure with us. I know many DG Members have bad credit or as Greg Murphy would say..."credit in the crapper." It is always good to follow along to inspire and offer tips to others to get those credit scores up. Keep up the good work and progress. Believe and Achieve! - Joe

When I last checked my Transunion credit score it was 616 today it is 632. I received a letter in the mail from Transunion last week asking to verify my mailing address. They needed two forms like a state ID or utility bill for my current address. By updating this information they will be able to process my request to mail my credit report showing any changes that have been made. Shouldn't be much longer before I see some changes!

Equifax and Experian have note responded in the way transunion has but we will find out soon enough!

Thats great information. I had credit problems and played the system for two years and learned what drove it up and what drove it down.

I learned your scrore can change at least four times a month depending what is getting reported at what time. I worked with www.lexingtonlaw.com for six months and they got my scores from 500's to high 600's. It cost 99.00 down and then 59.00 a month a great investment.

I took away alot of wisdom during this time and in the end bought my first property with no money down, 3000 for closing 1500 back from sellers at closing. This was in 2007.

I now have scores in high 700s and 800s. I just started reading Deans books and hope to get on board with all of you using techniques that are very creative.

Your idea was creative!!!!

Great Job.
jennifer

This information that you shared with us is greatly appreciated. I was in the process to request for my score to see where I was. Now, thanks to you, I'll know what to do if I see any discrepancies. Good luck with your results.
John

I know how this was a mental block for you at one time. Glad to be on the same team!

Hello all,

It has been 2 weeks since I have posted and here are some results. I recieved my Transunion Investigation Report and my score went from 612 to 699! Only one problem the 699 score is a Vantage Score System not the Fico system! So I went to myfico.com and bought my score and report and saw that my FICO score was 612!

Holy Crap! What happened?

I don't know. I watched Jeremy roberts DVD again and reviewed what I had done. As it turns out I did not do anything wrong. The only thing that is different is my score and I did have a few remarks removed. So the only answer is that however they computed that score is how they calculated the score.

I recieved my Experian investigation report and I need to purchase a new score to see if a change has been made.

Keep you all posted.

Jake

Hello,

I'm about to scream ...cover you ears!!!!!!!!I've been dealing with
all three credit bureaus about 4 months and nothing but nightmare.I
wanted to check my credit just to check on somethings i'd paid sixs
months ago.To my surprise they weren't taken off as agreed by the
company.So, i notice a few thing on all three credit agency that the
collection agency They had said once this account is paid off
will be marked paid in full o balance,half right.They marked it 0
balance but, not paid in full!THey told me they will send me a letter
saying Satisfied paid in full ,but not on my credit reports.However
also, had paid collection for medical bill year ago, and they change
name; same company ,same address same account paid.and they reopen it.
So, you see my nightmare...lol... well, that felt good!I'm trying to
get back on track pay my student loans early,carpayment ect.

However, i try to stay possitive notice one of my score went up 26
experian,546 but, i think equifaxs went down because off the dispute
HOW CAN I GET A CREDIT SECURE FROM MY BANK WHEN MY CREDIT SCORE IS UP
DOWN ON ALL 3?I call them credit gremlins.......voice is raw....

Any help

When you go to the bank do not let the Loan Officer only pull your reports, show them your letters from any and all agencies that reflect what should be on the Credit Report.

A banker can never just take your word for it. IF your balance on a credit card was just paid to $0 by you over the phone and the next day you go to the bank your credit report will still show a balance. If you say that you just paid it the banker may believe you, but cannot use just your word. Get a receipt showing your payment made to Zero.

If anything go talk to a bank about your credit and ask what their institution likes to see. Ask for their advice about what you can do to get your score as high as possible.

I was told, it takes 30 days and more from the day of any payment to update your credit history. My report shows it is usually updated between the first and fifth of the month. Give it some time, and do not keep pulling a new credit report, because it will damage your credit score which is what you should also be concerned about. All the best.

Sandra

Sandra,

Good thing to note about the 30 days to wait for an update on your Credit Report. Also note that note all Creditors report every 30 days. I have a signature loan with my credit union that updates about every 90 days.

You can pull your personal report as much as you want without any damage to your score, but you are correct that if you go from bank to bank pulling reports 2 points can come off everytime a hard inquiry is made.

Jake

As you are, I am also working on increasing my score with a vengeance. I want to hit the 800s by year end. Do you think we could keep each other accountable. I am quite willing. Here's to the 800 credit score. God Bless.

Sandra