I am a checklist kind of girl. It would help me tremendously if I could just have a list of things I need to do
1.) Pull credit report
2.) Opt Out
etc....
I really need to get my credit on the right path. I've been flying under the radar for 4 years. I've had no new credit but I still keep a score in the 300's. It seems new things pop up on my reports all the time. I just don't get it and need to get it under control.
Are there any checklists around?
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Have you read through pyschdoc's transcripts? It's kind of like a checklist.
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be sure you understand what opting does and doesn't do.
it does nothing to help credit repair. it can delay the other half of credit repair.
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From what I've gathered the opt-out is not necessarily helpful or necessary.
The theory was as long as you where opted in your where a product they where selling so they had reason to desire to keep what they where selling "accurate" but once you opted out they would careless and thus getting more favorable results with disputes. At least that's the reasoning as I understood it, someone feel free to correct me if I'm wrong.
However there has never really been concrete proof one way or another if this has any effect on a CRA processing your disputes and requests or on results. On the against side people have pointed out that once you've opted out you will no longer have the chance at being included in pre-approval offers and this might "stunt" your recovery because a pre-approval can give you an idea of what lenders might be willing to extend you credit at that moment.
Personally I've stayed opted in and have still have more positive than negative results with my journey. I also like the fact that I now sometimes get pre-approvals because it gives me another gauge to see my progress. I.E Pre-Approvals from capitol one snore, but then a pre-approval from Citi is kinda exciting since I had been thinking about a card with them.
Also know that some marketing methods look very similar to pre-approvals but are not actually based on a soft pull of your credit report, and they where just generated via you name, address and neighborhood or other factors not specific to you.
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From what I've gathered the opt-out is not necessarily helpful or necessary.
The theory was as long as you where opted in your where a product they where selling so they had reason to desire to keep what they where selling "accurate" but once you opted out they would careless and thus getting more favorable results with disputes. At least that's the reasoning as I understood it, someone feel free to correct me if I'm wrong.
However there has never really been concrete proof one way or another if this has any effect on a CRA processing your disputes and requests or on results. On the against side people have pointed out that once you've opted out you will no longer have the chance at being included in pre-approval offers and this might "stunt" your recovery because a pre-approval can give you an idea of what lenders might be willing to extend you credit at that moment.
Yep. However, I think it may be situational. If you filed BK, there definitely may be targeted pre-approved offers that you may get which are tailored to your situation.
If you didn't file BK, based on my experience anyway I don't think there are targeted offers for people that used to have X collections but now have (X-Y) collections. Or if there are then they sucked and I could find better options shopping on my own for cards.
Another aspect is, BK filers are not a collection trigger. Pretty much the opposite. Folks who rebuild without filing however, could have their data packaged in a few products like these:
Of course opting out doesn't do anything to prevent CAs who already identify you and believe they legitimately have your account. But it may mitigate some of the collection-trigger data subscribers who can partially match your data. I have a common name and live in a fairly big city, and I can tell you that it stopped the flurry of BOGUS partial match collections getting added to my report after I started to rebuild. It didn't do anything to stop the legit ones because they had already matched me.
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Find innaccuracies in your credit history, things like collections factoring on your account (marking lates etc after charged off), date of first delinquency, or anything that doesn't seem right if you need you can post things to double check with some other more experienced people.
Also DV all collections agencies, and all 623 all OC's. send certified mail return receipt.