How to Remove Negative Marks From Your Credit
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Posted: Wed Jan 12, 2005 11:09 pm
Post subject: How to Remove Negative Marks From Your Credit
Jamie Jones
Date: 8/14/2000 6:02 pm CDT
I was stupid and got credit cards and didn't use them with caution. now
I am in debt for $12,000.00 which is really weighing me down.... my
interest rates are extrememly high like 22% or more.... I was looking
for a credit card that would give a limit of 12 grand so that I could
transfer over and maybe be able to start seeing my payments moving my
balance down. I have just applied to try and buy a home but know that
my rating is probably going to be bad cuz of how much I owe out on
credit cards... Most have been right on time but for a couple of them
emergency situations prevented me from paying them on time... Now I am
gonna pay the price for it and wish there was a way to get some of the
past late marks removed from my bills since I have been paying on time
now that finances have been better... Isn't there a way to clean up the
report of past mistakes?
Please help me....oh also I can not afford a debt management advisor due
to finances are there any that have good reputations that do them for
free if you are in debt to a certain degree?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Wed Jan 12, 2005 11:09 pm
Post subject: How to Remove Negative Marks From Your Credit
Board Monitor - AD
Date: 8/15/2000 9:10 am CDT
Jamie,
Only negative marks that are actual mistakes can be removed from one's credit report (you'll need to contact the credit bureaus). Accurate negative marks remain for up to seven years on an individuals credit history. So the sooner you start building a postive credit history, the further in the past any such negative marks will remain. Creditors will scrutinize you less for negative remarks posted several years ago as opposed to more recent ones.
There are various low cost and even free credit counselors available, you might want to contact Genus (www.genus.org) or MyVesta.org (www.myvesta.org, formally known as Debt Counselors of America).
Sincerely,
Alex D.
http://www.creditcardfreedom.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Wed Jan 12, 2005 11:10 pm
Post subject: How to Remove Negative Marks From Your Credit
Ira Stoller
Date: 8/25/2000 9:46 am CDT
Yours is not only a common problem, but you're not even in such bad shape. Ten years ago I had close to $40,000.00 in credit card debt. It sounds like your credit history is good since you've been making your payments on time. If this is true, you should have no problem. Don't worry about getting a single card to cover your entire debt. It may take two or even three cards. Simply research and apply for a few cards with low intro rates. They will tell you what your credit limit will be for their card. Each time you get a new card, transfer a portion of your high interest debt to that card. If you get a card with a $5,000.00 limit, never transfer more than, say $4,900.00. In that way the first month's finance charges will not push you into an over limit situation. If you keep track of the expiratation dates of the low intro rates, you can them apply for other cards with low intro rates and keep transfering the remaining balances to newer cards and in that way keep your finance payments at rock bottom. By doing it this way I paid off my debt years earlier and saved many thousands in finance charges.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Wed Jan 12, 2005 11:09 pm
Post subject: How to Remove Negative Marks From Your Credit
Jamie Jones
Date: 8/14/2000 6:02 pm CDT
I was stupid and got credit cards and didn't use them with caution. now
I am in debt for $12,000.00 which is really weighing me down.... my
interest rates are extrememly high like 22% or more.... I was looking
for a credit card that would give a limit of 12 grand so that I could
transfer over and maybe be able to start seeing my payments moving my
balance down. I have just applied to try and buy a home but know that
my rating is probably going to be bad cuz of how much I owe out on
credit cards... Most have been right on time but for a couple of them
emergency situations prevented me from paying them on time... Now I am
gonna pay the price for it and wish there was a way to get some of the
past late marks removed from my bills since I have been paying on time
now that finances have been better... Isn't there a way to clean up the
report of past mistakes?
Please help me....oh also I can not afford a debt management advisor due
to finances are there any that have good reputations that do them for
free if you are in debt to a certain degree?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Wed Jan 12, 2005 11:09 pm
Post subject: How to Remove Negative Marks From Your Credit
Board Monitor - AD
Date: 8/15/2000 9:10 am CDT
Jamie,
Only negative marks that are actual mistakes can be removed from one's credit report (you'll need to contact the credit bureaus). Accurate negative marks remain for up to seven years on an individuals credit history. So the sooner you start building a postive credit history, the further in the past any such negative marks will remain. Creditors will scrutinize you less for negative remarks posted several years ago as opposed to more recent ones.
There are various low cost and even free credit counselors available, you might want to contact Genus (www.genus.org) or MyVesta.org (www.myvesta.org, formally known as Debt Counselors of America).
Sincerely,
Alex D.
http://www.creditcardfreedom.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Wed Jan 12, 2005 11:10 pm
Post subject: How to Remove Negative Marks From Your Credit
Ira Stoller
Date: 8/25/2000 9:46 am CDT
Yours is not only a common problem, but you're not even in such bad shape. Ten years ago I had close to $40,000.00 in credit card debt. It sounds like your credit history is good since you've been making your payments on time. If this is true, you should have no problem. Don't worry about getting a single card to cover your entire debt. It may take two or even three cards. Simply research and apply for a few cards with low intro rates. They will tell you what your credit limit will be for their card. Each time you get a new card, transfer a portion of your high interest debt to that card. If you get a card with a $5,000.00 limit, never transfer more than, say $4,900.00. In that way the first month's finance charges will not push you into an over limit situation. If you keep track of the expiratation dates of the low intro rates, you can them apply for other cards with low intro rates and keep transfering the remaining balances to newer cards and in that way keep your finance payments at rock bottom. By doing it this way I paid off my debt years earlier and saved many thousands in finance charges.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:28 PM
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