Credit Advice!!!

Discussion in 'Community' started by Err, Aug 29, 2005.

  1. Err macrumors member

    Aug 19, 2005
    I recently applied for overdraft protection at my bank because... well why not I guess, the nice teller I delt with assured me only customers with terrible credit get denied. I figured I would be approved easy as I am 21 years old, have taken a car loan at 17 and paid off all on time (dad cosigned), and pay my cell bill on time every month, 2 years running. Well I got declined, very embarrassing. She showed me why and it turns out I had a collection agency after me for 3 small amounts of about 200$ each from when I was 16 and 17 years old. These amounts were owed to the hospital for surgery I had on a broken arm at that age, shortly after my parents got divorced and the payments were all late, but have all been payed. My question is basically what can I do, I was a minor should this be my fault? should I have an uphill credit battle because My parents went threw an awful divorce? The teller told me since I was a minor the credit company should wipe it off but I haven't got a hold of my medical records yet to call the credit bureau. Any suggestions would be great, I am very upset about this :(

    edit to add: credit report was equifax, not sure if transunion or experian also have this listed against me, but due to it being 5 years old I would think so...
  2. yellow Moderator emeritus


    Oct 21, 2003
    Portland, OR
    You have 2 choices.. take it up with the credit reporting bureau ( make sure those collections don't show up on the other 2 bureaus.. there are 3 of them you know), or wait 7 years after it was paid off for it to be removed from your credit report.

    If you don't think it should be there, fight it. Expect the fight to be long, bloody, and painful. If it ends up being easy, count your lucky starts. Having good credit is very important. Make it work for you.
  3. savar macrumors 68000


    Jun 6, 2003
    District of Columbia

    At your age (I'm 22) I'd say forget about it. In two more years it will expire, and what do you need good credit for right now? Don't get any credit cards, and don't get overdraft protection. Just manage your money prudently.

    BTW, creditors often only list with one credit agency, so your credit report with the other agencies may be clean.
  4. Err thread starter macrumors member

    Aug 19, 2005
    i would like to take a car loan, and if i fix my credit first, i could use it to help build good credit
  5. paleck macrumors 6502a


    Apr 11, 2005
    with the Tequila!
    You have the right to dispute those amounts from the collection angency. If it's at all possible get a copy of the payments or whatever you can find (statement showing the payments) and keep it around for the dispute.
  6. macartistkel macrumors 6502a


    Aug 7, 2005
    Portland, Oregon
    Yes definitely DISPUTE the accounts you had problems helped me with one of my little debt problems back in the day. At least if you cannot settle the problem the credit report will show you tried.

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