Stuck With Bad Credit For Life

[domink]

Hi Everyone,

I'm new to the forum, as the title says i believe i am stuck with bad credit for life.

Here's my situation, I have a 575 credit score, don't have any credit card at all. No car payments, pay no rent, i have no debt whatsoever, the reason my credit is low is because of a few past due and sent to collection accounts. I registered to Freecreditreport, and i have 8 credit request which for what i know is hurting my credit also.

I make about $31,000 a year. however no one will approve me not even to buy soap, so i have no idea how to establish an account to start building my credit back up. No credit cars no secured credit cars, not even a $300 loan can get approved.

I have no idea what to do. All accounts that were past due have been closed. but again, I have to idea on how to start building my credit back up. Does any one have any advice?

Thanks

[30daylate]

you got to start by getting your negative items removed off your credit report. The whole site talks about how to do that so i would check that out.

[Lian]

FCRA 605(a) provides for deletion of most derogatory items of information from your CR after certain periods of time, such as 7 years from a monthly account delinquency with an OC, and 7 years plus 180-days from a DOFD on an OC account for charge-offs and collections that occurred on that debt. You aren't stuck with them for life.

To get deletion prior to those maximum dates set forth in FCRA 605(a), you need to consider options such a pay-for deletion (PFD) offer.

First, you need to know the date of each and every delinquency reported to your CR, then calculate when it will die due to its own old age. For earlier deletions, you need to read up on the PFD process.

[30daylate]

I don't see the harm in trying a dispute first before a payment for deletion letter. Might save some money.

[Lian]

The original post did not assert any inaccuracy in reporting, Thus I see no issue of a dispute of reported information.

[30daylate]

You can ask for them to verify whether the item is accurate without disputing that it is inaccurate. I got a 30 day late off and it was valid.

[Lian]

I would never advise anyone to dispute accurate information.
Any dispute can, and proably will be, dismissed if it does not assert inaccuracy.What is the dispute asking them to investigate? Accurate reporting?