Question: Thank you so much for this wealth of information. I am currently working on rebuilding as well as disputing info on my credit report. I made the mistake of settling an account without requesting they delete the account in return.
I initiated another settlement but have not finished paying just yet, is it to late to request a deletion upon payment letter?
Also I have no Credit Cards, no Dept Store cards and no 1 to add me as an authorized user, what do you suggest I do to begin rebuilding some good credit and credit scores. My goal is to purchase a house within the next 12-18 months! Thanks so much for providing this information for free! God Bless You!
Answer: You can always attempt to negotiate a deletion, even though your best chances existed before you entered into an agreement to pay. But if you have a lump sum to offer, they may be agreeable to a deletion at this point. Either way, it never hurts to ask. If you are successful make sure you get everything in writing.
You are performing the number one action in rebuilding credit and that’s paying your obligations on time. A good payment record will go far in raising your credit scores. Adding some positive information to your credit report will also help rebuild your credit as long as you build a positive payment history. To get some ideas on adding good credit to your credit files look at:
1. How to Add Positive Credit
2. How to Rebuild Credit History and
3. Credit Cards for Fair or Bad Credit
Whatever new credit you get always keep your balances to 30% or less of your available credit limit. This will help your credit scores. Never max out your credit cards because the credit bureaus will view you as a risk and your credit scores may decrease. Good luck to you and I am sure you’ll accomplish your goal of home ownership!