Fixing my credit score

New TQyQ37
May 1, 2018 27 Comments

How does one go about fixing their credit history? Mine is at 560 :(

I left the states a couple of years ago, and am planning to return in a year. Now I am worried that I will have trouble getting a place to rent or even a phone connection.

I was working on a startup when I was in the states, so ended up having a couple of delinquencies. Small amounts: not retuning my Sprint iPhone which was on lease, had 6 months left and not returning my comcast set top box (I know I know). I maxed out 2 credit cards albeit only around 2000 total. I didn’t get my first credit card until I graduated college and was an international student. So I had limited credit history. I paid those back before I left.

I just looked at credit karma and the only delinquency I have on file is that for Comcast, 116$ from a collection agency. The sprint one doesn’t seem to be there anymore.

Any tips would be greatly appreciated

comments

Want to comment? LOG IN or SIGN UP
TOP 27 Comments
  • Credit Karma Rofltoefl
    Yes on secured card

    Other delinquencies / collections may not show up because may be reported to different bureau. Should check all 3 they have different levels of geographic coverage (Experian biggest on west coast, and not included in CK) since you don't know what a potential landlord will check. Best bet is to pay for Experian report too. You can dispute through the bureaus directly - best bet since they will check collections agency's documentation - or through CK for other 2 bureaus.
    May 1, 2018 2
    • New TQyQ37
      OP
      A response from someone at CK. That’s just awesome :)Anyway, Just checked Experian, and they actually don’t have a score for me :/ I got the FICO Score from them as well (in addition to the free annual report); but I do see the same 116$ Comcast collection on file. As mentioned I didnt much of a credit history in the first place and I don’t think I ever checked Experian until today (sorry a completely to all this)
      May 1, 2018
    • Credit Karma Rofltoefl
      No worries understand it is super confusing. Only reason I know this stuff now is bc work

      If u dispute u have to dispute with all 3 bureaus or whatever bureaus list separately, it's kind of a hassle as they don't share data btw themselves (that would defeat the purpose of having a separate bureau)

      Closed collections do stay on your report for several (3-7?) years I think. But paying it will help a little bit since it will change status from open delinquent to closed settled. A successful dispute will remove it from your report but you would have to separately file for each bureau and it can always go back on if they find the documentation (here I'm assuming Comcast has better documentation than random collections agencies)

      I'd personally just pay it and then start with a couple secured cards from diff companies - each is going to be like a couple hundred max - and use each very lightly for several months to build credit. You can't just open must use - maybe pay a small utilities bill or something.

      The loan idea is a good one bc diff product from cc but only do if you actually need a car lol
      May 1, 2018
  • Apple anonp
    Even if you pay, it does not matter (but you should). Yes, you will have to get a secured credit card, and if you don't mind paying the extra interest, get a car loan too so that you start rebuilding the credit. It will still take few years.
    May 1, 2018 1
    • New TQyQ37
      OP
      Definitely getting the secured credit card. But car loan will be tricky because I won’t be moving until later in the year ;) Wanted to see what I could do from afar and have a decent enough score to get a place of my own in the Bay Area. Thanks!
      May 1, 2018
  • Intel traderking
    Hire a credit repair company or do it yourself. I fixed my score from 608 to 710 but it took lots of time and work... lots of dispute filings, many phone conversation both with credit Burue and lenders.
    May 1, 2018 1
    • New TQyQ37
      OP
      That’s rather heartening to hear. My big problem is I never really had the opportunity to build my credit when I was in the states, in the first place. So I’m not sure actually how much of a cause are the 4 late payments and one in collection. So not really sure what a credit repair company can do.
      May 1, 2018
  • New baQn60
    Pay everything off and wait. Don’t use the credit repair companies. They’re scams
    May 1, 2018 0
  • Amazon / Eng Cleaner
    I got the secured CC from CapitalOne. It lets you check the score on demand for free.
    May 1, 2018 0
  • New TQyQ37
    OP
    Whoa! Thanks for the quick input folks. The problem here is that I only see one collection on file (only for 116$). The only other I expected and was surprised to find gone from my credit history was my sprint lease. But I’m willing and able to pay whatever amount it requires. But I’m assuming there is no quick fix for these? I actually work for GOOG and make a decent L5 PM salary, and looking to transfer to MTV on an L1 visa sometime later this year. Will getting a secured credit card help? I still have a bank account in the states and travel back often.

    I opened my credit history literally after 2 years today as started seriously considering moving back which wasn’t something that I had planned on before:)
    May 1, 2018 3
    • AT&T / Eng
      DDM2K

      AT&T Eng

      PRE
      Optum, Windstream, AT&T, Verizon
      DDM2Kmore
      Dispute the collections before you pay them. Payment is admission it’s yours. On the off chance Lexington Law Group or a similar credit repair agency can trip up a creditor / collector who doesn’t have sufficient documentation of your debt; you want to see if you can make them disappear before you pay them.

      Basically once you pay them, you admitted the balance was owed and the delinquency sticks.
      May 1, 2018
    • New TQyQ37
      OP
      This is very helpful, thanks. I will raise a dispute since I did officially close the account. But right before I leaving found out the settop box as I was cleaning my apartment. The Comcast rep where I submitted the other equipments and officially closed the account, never asked for it. So think I have a solid ground here. Cheers!
      May 1, 2018
    • LinkedIn 63628;_;
      You can pay credit repair.com money. It does have some benefit. It will take a few months.
      May 1, 2018
  • Procore / Eng Foxnews
    My score went from 700 to 820 in one year. I was upper aggressive paying off debt. Careful of maxed or credit cards.
    May 1, 2018 1
    • Procore / Eng Foxnews
      I didn’t use a company just hard work.
      May 1, 2018
  • Amazon / Eng Bezos Sama
    You probably had to prepaid a lot of rent before someone will offer you an apartment, like 1 year prepaid.
    May 1, 2018 1
    • AT&T / Eng
      DDM2K

      AT&T Eng

      PRE
      Optum, Windstream, AT&T, Verizon
      DDM2Kmore
      God DAMN! Lol
      May 2, 2018
  • AT&T / Eng
    DDM2K

    AT&T Eng

    PRE
    Optum, Windstream, AT&T, Verizon
    DDM2Kmore
    Renting a room is best bet as it doesn’t always require a credit check, for example, if the resident owner is renting out one or more rooms.
    May 1, 2018 1
    • New TQyQ37
      OP
      That’s probably what I’ll have to go for then. Thanks!
      May 1, 2018
  • Apple anonp
    It will take a few years, and yes it will limit your rent choices. I recommend you try private owners and explain the situation as they may be more understanding than rental companies
    May 1, 2018 1
    • New TQyQ37
      OP
      Yeah this makes sense. Apart from the score itself, my finances are in fairly good shape and my comp will be solid as well. So hope I can convince them of the story. Thanks
      May 1, 2018
  • Amazon odVN70
    I had no problems with getting rent with 622. They might ask, or you might suggest, an additional guarantor to make up for your score
    May 1, 2018 0
  • StubHub elck2128
    Open credit. Pay off every month. Repeat.

    You'd be surprised at how quickly your score will rebound. And yeah, get those collections outta there.
    May 1, 2018 0
  • AT&T / Eng
    DDM2K

    AT&T Eng

    PRE
    Optum, Windstream, AT&T, Verizon
    DDM2Kmore
    For the ones that don’t come off after the disputes, call the collection agency and ask for a pay-for-delete, which may be possible if the debt hasn’t been sold (again).

    If you have 3rd parties calling you (only after the dispute has failed) ask them who holds the debt. If the original creditor does, speak to both companies about the best settlement offer they can make you.

    If the 3rd party owns the debt, the original account is in Charge-Off status. Your only option is to negotiate with the collector in that case, and nothing much can be done unless you win the dispute as far as your credit report.
    May 1, 2018 0
  • When you decide to pay, pay to the original creditor and not to collection agency ( Never pay them).... One side you make a payment and other side you raise a dispute called debt validation. Most likely they won't spend time and resources to send documentation once they figure out that you paid already.

    This won't always work so just an idea because collection agencies also get rated from bureaus about how many items they are withdrawing.
    May 1, 2018 0
  • Tumblr Xlsf01
    Dispute everything. Get a secured card and pay all your new bills on time.

    There is no quick fix.

    35% is based on payment history
    30% on the amount of debt
    15% length of credit history
    10% amount of new credit
    10% credit mix

    If you closed all your cards your starting from scratch. You don’t have a mix of credit. You will have to build you credit and payment history again. Also almost everything drops off in 7 years, so you could wait it out. Lol

    As for getting an apartment. You may have to get lucky with a renter who looks at things other than credit score or pay a sizable security deposit
    May 1, 2018 0
  • Apple Appajappa
    Go and file dispute. They don't check much for small amounts and it'll fix on its own. Rest of the advice are good too
    May 1, 2018 0