questions about my credit report..

[Valhalla1]

I am planning on buying another vehicle in the next few months.. I ordered a credit report and fico score from equifax, there was some collection account from 1999 on my report that I have no idea what it was. I called the collection agency and they said it was not in their records. my zip code is under CSC jurisdiction or something according to equifax, so I called their # and put in a disupte.

will this get it removed from my credit report? the score from fico listed this as the main factor hurting my score, but it said even paying off the account wont take it off your report, the fact that it was there period is what hurts the score. well I dont know where this crap came from and neither does the collection service, it seems to be a mistake, so why should I have to suffer for 7 years from some mistake? will this be permanently erased after the dispute or what

also, under employment, it lists one my my employers (my fathers business) but not my main full time job of 2 years... how do I go about showing on my credit report that I have been working for a huge multinational corporation for 2 years (which should help my score?)


and I have a lot of credit report inquiries on my record in the last couple years. i dont guess there is anything I can do to get rid of those? although the majority of them are PRM and AR, which according to equifax are not reported to businesses, only copies provided to me. but still there are a dozen or so non-PRM/AR credit report requests in the last 18 months


my fico # is lower than what I feel I should have and want to increase it about 30 points.. hoping that dropping that collection account will help

 

[phatcow]

collecions amouns are sorta anal reaming to your score

 

[TheGameIs21]

If you don't know where this came from DON'T PAY IT!!! Every bit of information on your credit report is manually entered and you could have someone else's information on your report.

Do all of this in writting. Send a dispute to the credit reporting company that is listing the problem account. They have 30 days to validate the debt or it will be removed from your account with no effect against your credit score. If the account is eventually proven to be yours, it will be added back to your credit report and you will have to take care of it.

Paying it off if it is your account will not improve your Score by much but it will look better on your credit history to have it paid off even if it went to collections. It's the lesser of 2 evils.

If you need any assistance submitting the dispute, check with your local Consumer Credit Counseling Service Center. Don't let them sign you up for their Payment System. Just go to get the credit report cleared up.

::edit:: I see you called them but that doesn't give you the same rights as if you put it in writting.::/edit::

 

[Valhalla1]

they said they were going to submit it in writing to the collection agency and they had the 30 days... you say its better if I do it myself in writing? I called the credit agency and they are disputing it with the collection service, if this gets that crap off my credit report thats all I care about. I am not giving them a dime because I dont know WTF it is



so you credit experts, how much would removing this collection account help my credit score? is it going to bump me 1 point or at least 30 (which I am hoping). that is the only negative thing on there besides numerous credit report requests, all the other accounts are "pays as agreed" or whatever and no late payments or anything

 

[Tarfin]

Other factors affect your FICO score such as the ratio of credit:income and balances on credit: credit line. Pay off your credit cards, loans, etc and that will SIGNFICANTLY raise your score.

 

[StageLeft]

For what it's worth credit requests stay on your report for two years but contribute to fico score for only 12 months.

 

[RossMAN]

I am planning on buying another vehicle in the next few months.. I ordered a credit report and fico score from equifax, there was some collection account from 1999 on my report that I have no idea what it was. I called the collection agency and they said it was not in their records. my zip code is under CSC jurisdiction or something according to equifax, so I called their # and put in a disupte.

First I would ask the collection agency to send you an original copy of what they're sending to the credit bureaus (make sure they send it to ALL 3). When you called Equifax to file a dispute, did they give you a case number or reference? Make sure you have that. Write a letter to ALL 3 credit bureau's listing your full name at birth, current full name, current physical address, current mailing address, social security number, and date of birth. Make sure to send all 3 letters via certified or even the more serious registered USPS mail.

will this get it removed from my credit report? the score from fico listed this as the main factor hurting my score, but it said even paying off the account wont take it off your report, the fact that it was there period is what hurts the score. well I dont know where this crap came from and neither does the collection service, it seems to be a mistake, so why should I have to suffer for 7 years from some mistake? will this be permanently erased after the dispute or what

It should. If it does, don't expect their reports to reflect this change for at least 2 months ... so time is sort of on your side since you don't plan on buying a car for a few months but it's IMPORTANT that you get the ball rolling NOW otherwise you may apply for car financing and be declined because the bureau's haven't updated their records yet.

also, under employment, it lists one my my employers (my fathers business) but not my main full time job of 2 years... how do I go about showing on my credit report that I have been working for a huge multinational corporation for 2 years (which should help my score?)

Doesn't the credit bureau have a dispute procedure for this? As a precaution to prove that you've been employed with this corporation I would contact their employee customer service/human resources department requesting an EMPLOYMENT VERIFICATION letter make sure it's on the corporations letterhead, has your full name, address and request they put your social security number on there also. If you mail this to all 3 credit bureau's, remember to send it certified or registered USPS mail. Hopefully you saved your last 2-3 years tax returns and paystubs?

and I have a lot of credit report inquiries on my record in the last couple years. i dont guess there is anything I can do to get rid of those? although the majority of them are PRM and AR, which according to equifax are not reported to businesses, only copies provided to me. but still there are a dozen or so non-PRM/AR credit report requests in the last 18 months

Skoorb is right, you gotta give it time for those inquiries to fall off. Also as a word of advice I would stop inquiring about your own credit until you have made all these changes THEN order another copy of your credit report. It really does no good constantly ordering a copy of your credit report if it always says the same crap but you're doing nothing to correct the errors. So fix the errors now. Wait at least 2-3 months THEN order another copy to ensure they've all been updated, if they have then get your car.

 

[Valhalla1]

actually this is the first time I ordered to see my credit report and fico scrore... only time I've seen it before is when I tried to get an Amex student credit card a year or so ago and got denied and got a credit report, but it didnt have anything about this collection account on it...

also equifax's website said that personal credit inquiries do not show up on your report to businesses


is your credit report supposed to show your income somewhere? because I didnt see mine on there anywhere, and I think it would help my score if it showed my income. I feel like I'm treated as a statistic.. being denied good car loan rates and good credit cards because I am a 20 year old college student, if they knew my income and situation they would be fighting for the chance to loan me money

 

[bozo1]

Credit reports normally don't show your income.

Once the credit bureau is done with their 'investigation', they will send you a letter detailing the outcome and will send you an updated copy of your credit report. You need to check with the other 2 credit bureaus as well - placed for collection entries usually are reported to all 3 bureaus and you'll have to file a dispute with each one to have it removed.