Any credit gurus here?

[HoLeChit]

Stop the personal attacks. If you have an opinon, post it.

This right here.

I didn't start this thread as a pissing contest, or some sort of gladiator free for all. I started it as an outlet to ask a question, for other to do the same, and to have what I get on OSA for; a friendly, frank discussion between knowledgeable and respectful group of people.

 

[HoLeChit]

To try and answer your question. You should see a date that the bad debt was originally reported. Once you get to seven years, all you need to do is go to the credit website and report the debt that needs to be removed. If at anytime during the past seven years you responded to any letters attempting to pay the debt and you agreed to make a payment, the date then moves up to the date you last acknowledged the debt.

I had some debt that my ex was ordered to pay after the divorce and never did. I rode it out and the month after the debt reached 7 years, I sent them an email detailing the debt and it was promptly removed.

I think a tax lien stays on for 10 years, but I could be wrong on that.

Awesome, thank you. It has been about 7 years and 6 months, and I'll try to get in contact with the reporting agencies about this.

 

[nofearfactor]

I didn't start this thread as a pissing contest, or some sort of gladiator free for all. I started it as an outlet to ask a question, for other to do the same, and to have what I get on OSA for; a friendly, frank discussion between knowledgeable and respectful group of people.

You havent been around here very long. Some subjects it gets a little heated. Mods know how to get things back in order.

Great subject though. It is certainly an interest of mine as I have also been trying to get mine in order. Im also interested in how to go about getting one of the credit reportings to clear something.

 

[HoLeChit]

Also, about the 40k lifestyle deal, affording nice things and such, it's all about self control, money management, and common sense. I have made between 30-40k the past three years, had to start everything over from scratch before then, was flat broke and had a 5k car , bad credit, and moved back to Oklahoma with 500 bucks in my pocket. As I stand today I rent a very nice new house, I drive a 2014 car that I bought brand new and custom ordered, have nice things, a couple of nice guns, 20k worth of paid off tools that I use for work, and live very comfortably. I have investments and credit cards, so on and so forth. It is all about how you do things and manage your finances. I have about 2k worth of debt, aside from what I owe on my car.

"Nice things" are a relative to a persons income and financial capacity. I drive a 26k car, not a 70k bmw.

I live within my means.

 

[HoLeChit]

You havent been around here very long. Some subjects it gets a little heated. Mods know how to get things back in order.

Great subject though. It is certainly an interest of mine as I have also been trying to get mine in order. Im also interested in how to go about getting one of the credit reportings to clear something.

Haha I have noticed.

There's a credit forum online somewhere that's pretty popular, there's a bunch of people on there that are chasing a 820+ credit score, and there is some good advice on there. That's one thing that helped me. I just kept at it with learning how to fix my credit, and disputing things, fixing things, and keeping on top of it. It takes time and effort, but it's not too terribly difficult.

 

[nofearfactor]

There's a credit forum online somewhere that's pretty popular, there's a bunch of people on there that are chasing a 820+ credit score, and there is some good advice on there. That's one thing that helped me. I just kept at it with learning how to fix my credit, and disputing things, fixing things, and keeping on top of it. It takes time and effort, but it's not too terribly difficult.

cool, thanx. Sounds like youre doing all the right stuff, Im trying to also. Becoming an adult when youre an adult was harder than I thought, the years creep up on ya and before you know it you have to be all growed up and start acting like it. Money management is just being responsible, and learning to live within the context of your particular budget, its all different for all of us but you can use the same template to successful money managment.

 

[HoLeChit]

cool, thanx. Sounds like youre doing all the right stuff, Im trying to also. Becoming an adult when youre an adult was harder than I thought, the years creep up on ya and before you know it you have to be all growed up and start acting like it. Money management is just being responsible, and learning to live within the context of your particular budget, its all different for all of us but you can use the same template to successful money managment.

That's the truth.

 

[OKCShooter]

Money management (P/E, Taxes, Budgeting...etc) should be taught in schools.

I will be teaching my Children at home, otherwise the credit card companies will be teaching them.

 

[nofearfactor]

Money management (P/E, Taxes, Budgeting...etc) should be taught in schools.

Amen. Ive never understood why it isnt as important to teach children about money management in school as giving them a healthy lunch, building a strong body, along with learning math, English, science, etc. We have taught our kids as best as we could, same as my parents, but like my parents we have worked long hours and we just couldnt teach them everything that maybe a class in school could have helped with. I do remember taking a consumer math class or economics class or whatever they called it in the mid 80s, but I was already a junior in high school by then and working a part time job and was just padding my schedule at that point with easy classes. Out of my 3 kids and my wifes 2 kids luckily we only have 2 who cant get it and 3 who are doing well with their money at such young ages. The 3 are in college and either in relationships or married, and as you can probably figure its the 2 youngest who suck at taking care of their money- my youngest daughter and my wifes son. We have had many talks with all of them about money management along with help from their grandparents, my mom is a retired banker and stepfather is a retired school superintendant and my wifes mother is a retired accountant, but those 2 just have trouble with it. I have no doubt though that eventually they will get it same as me and their mother, I just wish they could have taken some class early in life to help us out with it. After they leave home for college or whatever its hopefully not going to be too late to help them, at least before the credit sellers have gotten to them.

 

[CHenry]

My son is a junior and he is in a personal finance class.