Oct

25

So can I Nuke all three of my credit reports and start fresh?

Filed Under Credit 

credit reports
NateDogg asked:


Is there a way to tell the big three that I no longer am on this planet? What ever happened to forgiving someone for having an Opps? Why can someone (The big Three) charge a lender money to share information that I never gave them authorization to keep?

EARLE

Comments

2 Responses to “So can I Nuke all three of my credit reports and start fresh?”

  1. Gatsby216 on October 28th, 2009 1:23 pm

    No, even those who have departed this earth still have a credit report, it just says “Deceased”.
    As for forgivness, you most likely were already forgiven. If you had a bad debt and did not pay it back, then you were 100% forgiven. Now “Forgotten” is a different word and may be what you really want. And you said it, a credit bureau charges lenders for information, and lenders are not asking for information that has been subjectively adjusted.
    As for authorization, come on get real, of course you authorized them to report and share information with credit bureaus. It was on the terms of the contract you agreed to.
    Now I am not saying the system is perfect and certainly needs much more oversight focused on protecting the consumer.

    As for forgiveness, I think it is a great idea. You should immediately take at least $5,000, and if you don’t have it, get a part time job, cancel your cell phone, sell your car and take the bus, what ever it takes to get the funds together and then start the forgiveness process by lending the money to someone with a 550 or lower credit score.
    PS. Can I be the first to apply.
    a>

  2. Mugwug on October 31st, 2009 2:02 pm

    They’ll forgive you for having an oops, but theres no free ride.

    The only thing that will clean up your credit report is time. It’s up to you how the report is populated, whether it’s filled with collections or positive items. If the debts are relatively new then you’re likely best off to pay them, requesting a “pay for delete” from the creditor. Even if they won’t remove them a paid debt is better than a “skip” or bad debt on your credit report.

    The rest is time. Re-establish your credit, pay your debts on time. The clock is always ticking and those bad items WILL eventually disappear.

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