Repairing credit?

Question

I was wondering if anyone had some good ideas on how to repair my credit,most of it was from hospital bills.

Answer 1

Depending on how long ago this happened and how much they are, it could go either way. If it's been more than 5 years, then I'd play the waiting game and let them fall off after the 7 year statute of limitations for reporting expires. If it's less than 5 years, I would try to contact the hospital or collection agency and negotiate a "payment for deletion", in which a certain amount would be paid for it to be deleted from your report. If you're successful in getting them to agree to it, get it in writing on something with their company letterhead before you give them a dime.

After you've settled your delinquencies, ask a close friend or a family member if you can be added to their credit card account as an authorized user. It would be for reporting purposes only, so you wouldn't need a card. If you're able to do this, make sure that the credit card company does in fact add that account to your credit report. Another thing would be to get a credit card on your own. A secured credit card is the easiest, but most costly temporarily becuase you have to put a deposit upfront in a savings account to secure the same amount in a line of credit. Most banks offer deposits as low as $200, but I'd suggest putting a deposit of at least $500 at first, then increasing the deposit every 2 or so months. Make small purchases that can be paid off in full, on time, if not early every month. The key is to have a perfect payment history that after a year of doing this, you'll get an unsecured card along with your deposit back with possible interest. The higher the limit is on the card the better it looks on your report as far as your utilization ratio is concerned. 30% of your score is based on how much credit you're using vs. how much credit you have. If you are paying monthly bills on time like insurance, rent, wireless phone, utilities, cable, etc. they can also be reported to this CRA(consumer reporting agency) called PRBC. They specialize in reporting monthly payments that may not be reported on your credit report that is just as important if not more important than the accounts on your report. It gives a clearer picture of what, when, and how you pay, which is 35% of your credit report, but that information isn't completely accurrate. I've posted links to some secured cards and the PRBC website for you to check out. I hope this helps out,

Good Luck!

Answer 2

1) Ask for credit reports from the bureaus.

2) Look out for any errors in it.

3) Prepare a Credit Dispute Log recording the details of problems and errors.

4) Contact telephonically the original debtors with whom you are having a dispute. Record the details of the call, especially the name of the person with whom you spoke and a brief overview of the agreements.

5) Send the certified letter to the original debtor.

6) Send letters to collectors, disputing the bill. Also, send the proof of payment to the original lender.

7) Fill out the dispute form available at the credit bureau.

8) Write a letter for each disagreed item separately and send it to the credit bureau by certified mail. Attach the proof to support your claim.

9) The bureau will provide you a reference number. Call up the bureau with this reference number and find out the progress of the matter.

10) Maintain a Credit File containing detailed records of your case.

Answer 3

You need to start paying your bills and keeping up to date with that and all other bills. You can't be late. Call the hospital (if they haven't already sent you to a collection agency) and make payment arrangements. If the collection agency has it, call them and make payment arrangements.

Checking your 3 credit reports would be good too. Everyone gets a free one now in the U.S. Experian, TransUnion, and Equafax. I've provided the website below.

Good luck!

Answer 4

you can't repair credit, try to pay as much as you can and work out a payment arrangement with the hospital. good luck.

Answer 5

You can always dispute any information on your credit yourself. You need to go to annualcreditreport.com and pull all three of your reports to see what exactly is on each report. You can also hire a specialist to help you since the process is time consuming and sometimes reports can be hard to understand if you do not read them all the time.

Answer 6

after 7 years all that is removed
however you wont have any credit history and they will know something is up
your best bet is to look for a good used vehicle not too expensive and pay a huge down payment so they wont refuse ya and then pay on it on time
not early not late pay on time

Answer 7

first of all you have to get hold of your credit report.experian provide useful information on how to get unwanted information from your report and how to generally improve it.visit www.experian.co.uk.consumer advise section.

Answer 8

call us the hospital and be honest with them or try for government loans to pay for it

Answer 9

call them and see what u can pay, and after your bills are paid , just keep them up to date..