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I'm trying really hard to get my report up to speed. I just got out of default rehab with my student loans so that will look good. I am about 6 months in to debt management program, but unfortunately all but one of my 5 accounts on there are collection accounts. So how does the reporting work with those people? Does anyone have any advice on how to go about removing those kinds of negatives?

Also, I have one account that seemingly is confusing's my 1 credit card account appearing on there. I opened the account in February of 2000 and first went delinquent later that year. However, the space (on Equifax) where it says Date of First Delinquency is blank. It also says there was a payment in October of 2005. The account charged off for a balance of 1541. The balance now says 872, with a CL of 500. I am not sure when this will drop off because on my TransUnion report it actually lists when things will drop off your report and it says October of this year for this account. I'm not exactly sure what happens.

My other big hindering factors is that I have no credit other than my student loan. As you can tell from above my score at this point is extremely low, so I''m not sure how I can go about getting some positive credit to offset things. Ideally I'd like a card that I would pay only my cable bill with and then pay off that card each month (since cable companies don't report)

Anyway I know that's a lot but I'm just having a hard time finding a starting point. Any advice is highly appreciated. I've read a lot of things and ways to get things deleted but I'm not sure how true any of it is.

I'm going to leave the credit fixing issues to someone else since I'm not really sure what to advise you.

However, in regards to establishing credit, if your score is extremely low, you may need to go with a secured credit card. How they work is that you deposit an amount of money in a secure account, and then your credit limit matches the amount that you have on file, usually around $300 to $500.

There are many secured cards out there, but not all of them are going to be good choices. Some of them charge so much in fees that you end up not really having any available credit left. So check them carefully and look for something with low fees. Read the fine print because an annual fee isn't the only fee that many of them charge. Also, be sure that you get one that does report monthly to all three credit bureaus.

I've seen bad reviews on the Orchard card and on the (I think) First Premier card. Apparently, Bank of America has a secured card that is a pretty good deal.

Good luck!

Sub: #1 posted on Tue, 07/22/2008 - 22:42

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

have you sent out any debt verification letters to every "bad" item on your credit report yet? That is a good starting point, even if you have paid off the item.

Sub: #2 posted on Wed, 07/23/2008 - 00:19

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

i had the first premier card and it was horrible but i like the b of a card that i got to replace the first premier one

Sub: #3 posted on Mon, 07/28/2008 - 22:16

nomorepdl nomorepdl

(Posts: 16 | Credits: 3.01)

The dates that TL's will drop from your report are estimates only. Best way to find out when they will drop is to call all 3 CRA's and ask for the date of first default (DOFD) that was reported by the data furnisher(DF). All 3 should be the same date and reporting period will be 7-7.5 years from that date.

Sub: #4 posted on Tue, 07/29/2008 - 00:13

Moderators Cum Industry Expert
(Posts: 4665 | Credits: 308.23)

I currently have a First Premier Card and it is terrible do NOT get one! We have to pay a monthly fee of $10 just to have the dumb thing and then there is a $6.95 charge to your debit card to pay online...oh but it gets better there is ALSO a charge of $6.95 that posts to your line of credit to pay online so if you pay your bill online you are paying a combined fee of $13.90!!!

Sub: #5 posted on Thu, 07/31/2008 - 02:21

imhisfavoriteau imhisfavoriteau

(Posts: 6 | Credits: 1.67)

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