Share your Credit Score Success Story

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    Gil Garcia

    Hey Monique,

    In my experience, one can repair the credit on its own,but it takes a bit of time. Don’t expect the credit score to jump up within a day or two. It generally takes 6 to 12 months at the very least by removing collections from your credit report.

    A collection entry on your credit report will lower the credit score and in many cases prevent you from obtaining a mortgage or auto loan. A collection entry actually hurt your credit score badly.

    Before we get into how to remove collections from your credit report, I want to share my story.

    During my college time, I bought a cell phone with AT&T. The phone service has some issues so I switched to Verizon. I forget to AT&T payment to be paid.

    And finally, it ended up as AT&T collections and showing up on my credit report. Then I paid the collection so as to remove it from my credit report.

    However, it wasn’t removed, it was just â€śpaid collection”. I followed these steps to get it removed.

    1. The first step is to mail the collection agency a “goodwill letter” and request a Goodwill Adjustment from the Collection Agency. To write your letter, use this sample letter template.
    2. The next thing you should try is the advanced dispute method.

    For this method, you will need a current copy of your credit report that includes your credit score for free. Once you have your credit report, find the entry of the collection you want to be removed and verify that is listed.

    If you find anything that is inaccurate, note it. Check the following items on the collection entry for inaccuracies:

    • Balance
    • Account number
    • Date opened / Date closed (check all dates)
    • Account status (e.g., Closed)
    • Payment status (e.g., Collection)
    • Credit Limit
    • High Balance

    Note anything else that appears to be inaccurate and write a letter. Using this letter, you will demand that each piece of information is corrected or that the collection be removed.

    1. If you’re unable to find any inaccuracies on the collection entry on your credit report, next you should write the collection agency and demand that they validate the debt.

    Under section 809 of The Fair Debt Collection Practices Act, collection agencies are required to validate debts they are attempting to collect.

    If you wish to repair the credit score on your own, here are some tips or a few steps I have learned:

    • Pay attention to your credit report: Now that you know why the credit report is so important, you understand why it is important to ensure that it is error-free. What you need to do is to check it regularly. Once you do so, you can easily find the errors to rectify them. In case the errors are severe yet disputable, you can always approach the concerned credit bureau for rectification.
    • Clear all missed payments: Missed payments mar your credit score considerably. You'd want to remove this blemish as soon as possible. This you can do by clearing all current payments.
    • Stay away from hard inquiries: When you apply for new credit or loan, you get what is known as a hard inquiry. This can be damaging to your credit score. It is general advice not to take new loans or credit until your credit score has improved.
    • Gets disputes resolved: If you have any disputes on financial matters, credit report errors, missed payments, etc. get them resolved. Once done, ensure that your score does not get tarnished by these instances again.
    • Get a secured credit card: If you want to build your credit score, one of the most effective ways to do so is by getting a. To get this, you have to make a security deposit. All activities on the card affect your credit score.

    Hopefully, this information helps. Thanks!

     

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  • Hi Gil Garcia, Thank you for sharing this information. 

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    Cathywarder4

    Thank you creditsesame... You got my credit on the right track... One of my credit cards closed all of account's..With every one..Will this heart my credit..I did not owe anything on my account..

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