Credit report hit

[edik]

What is the name of your state? Illinois

The other day I ran a credit report on my self and noticed that when I was young and stupid and in debt I had a judgement against me and it has been settled and paid off like 8-9 years ago but the financial institute has not reported as being paid and satisfied and it looks like it's still open and not settled. What can I do and how can I correct it? I don't know where the court records or who exactly filed it (I know young and stupid and threw everything out back then). Any help would be greatly appreciated!!

 

[vgmhilliard]

phone Experian

What is the name of your state? Illinois

The other day I ran a credit report on my self and noticed that when I was young and stupid and in debt I had a judgement against me and it has been settled and paid off like 8-9 years ago but the financial institute has not reported as being paid and satisfied and it looks like it's still open and not settled. What can I do and how can I correct it? I don't know where the court records or who exactly filed it (I know young and stupid and threw everything out back then). Any help would be greatly appreciated!!

phone Experian and tell 'em what u r telling us (NOT mentioning how silly u were as we all were silly but none of us likes being reminded of that). U will see the negative entry off your credit report in 30 days.

 

[edik]

phone Experian and tell 'em what u r telling us (NOT mentioning how silly u were as we all were silly but none of us likes being reminded of that). U will see the negative entry off your credit report in 30 days.

Thanks.... wont they require me to get the court filings and contact the financial institute to prove it and maek them change it?

 

[vgmhilliard]

disputing an entry on Credit Report

Thanks.... wont they require me to get the court filings and contact the financial institute to prove it and maek them change it?

if u dispute an entry on your credit report with a CR agency, and the other side submits no validation of the entry within 30 days, the CR agency has to remove it from the CR. Benefit of doubt, I belive it is called. i think in your case u r guaranteed to hear no response from the other side

 

[edik]

Thanks... i opened a dispute up with them and they will get back to me in 30 days or so. What else can I do to clean up my record?

My wife has GREAT credit history and always ontime and everythign paid off. I am looking at her vredit report and she has 039 serious delinquency as bein reported????? Looking at all the reporting institutes not one shows a 30/60/90 day late....what is that all about? When I asked the mortgage broker she said she called the buruea and this is what she wrote to me:

"spoke to the credit report company.
She told me that they credit bureaus are required
to have 4 factors listed for each credit score, and
having a serious delinquency is one of the factors
that will affect the credit score.

She did think it was odd that it was listed and that
there was no delinquencies, but that was what was
reported from each credit bureau, possibly just to
fill the last factor requirement."


Does that makes sense??? What can I do there?

 

[cmorris]

First of all, anything you do needs to be in WRITING sent certified mail return receipt.

Here is how I would handle this situation:
Send a debt validation letter, CMRRR, to the owner of your judgment. When I got the green card back, I would send in a written dispute to the credit bureau(s) disputing as "not mine."

What this does:
This puts the judgment holder (assuming this is a collection agency that obtained the judgment) on a 30-day timeline. If it cannot be validated within that time, it is deleted. But, you need a paper trail!!!

You do not need 4 lines of credit for a score. That is a bunch of bologna. You need to learn about credit and I suggest you visit www.creditboards.com.

 

[cyana24]

1. Stay off the phone - handle all communications through certified mail

2. You probably do need the court records or the court house to write EX to report that the judgment is satified.

3. Do as cmorris suggests and post your credit cleanup questions on www.creditboards.com. You will find many of the same posters there because the Free advise site cannot devote the space to credit repair questions unless they're of a more legal nature.

4. Please avoid following vgmhilliard's advice because he's clouding the issues with his talk about Canadian and UK law.If you read his posts he's an American living in the UK with his own confusing debt problems.

5. Take any advice offered by JETX if he answers because he knows his stuff.

 

[edik]

Thanks to everyone who answered my questions, you guys have been a great soeurce of information. My wifes and mine creadit is great except for these two things that I just learned and need to clean up. I was really suprised by what was in her's!!!