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Being removed as a cosigner from children’s student loans

Posted on Dec 04 2013 by

Dear Experian,

I co-signed college loans for my children. They are now both out of school, working and re-paying the student loans on time with no delinquencies. I would like to remove my name as co-signer. Will this increase my credit score, and will it decrease their credit scores?

– PBK

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Adding an authorized user to your account won’t hurt your credit scores

Posted on Dec 04 2013 by

Dear Experian,

Will adding one or more authorized users (my husband and my daughter) to my credit card accounts affect me negatively? My daughter will not have a card to use; I only want to help establish her credit.

– AGF

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Lender might repossess van even after several years of non-payment

Posted on Dec 04 2013 by

Dear Experian,

I took out a loan for a van in 2008 and lost my job shortly afterwards. I only made two payments on it. The lender never came looking to take back the vehicle. This past week I received a letter from them stating that they want the van. What are my options? Can you help?

– GLM

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Recent late payments hurt credit scores the most

Posted on Dec 04 2013 by

Dear Experian,

Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a “0” balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment?

– KRS

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A creditor can request that an account be removed from your credit report

Posted on Nov 20 2013 by

Dear Experian,

Can a creditor request to remove an account from my credit report? Also, how long would it take for the removal to take effect?

– JKJ

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Voluntary repossession would have seriously damaged credit scores

Posted on Nov 20 2013 by

Dear Experian,

I am trying to trade-in my car; however, I am upside down on my current car loan. If I trade it, my payments will be really high. The salesperson is trying to convince me to do a voluntary repossession on my current vehicle. She said that it would not be a big hit on my credit and my new car payment will then be lower. I told her that was something that I really had to think about and research. I don’t know much about what she was talking about, and I did not want to make an impulse decision.

– NTN

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Mortgage loan not being reported after declaring bankruptcy

Posted on Nov 20 2013 by

Dear Experian,

We filed bankruptcy two years ago and want to either refinance our home or possibly buy a new home. When the bank pulled our credit they said that our existing mortgage is not being reported on Equifax, Experian or Transunion. We have all of our monthly statements from our lender verifying that we have been paying on our house for the past 2 years. How do we show this information to you so you can start reporting all of our mortgage history on our credit report?

– ETL

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An account update by your creditor will not change when it is deleted

Posted on Nov 20 2013 by

Dear Experian,

If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report?

– JCP

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Multiple inquiries when shopping for an car loan

Posted on Oct 30 2013 by

Dear Experian,

I went car shopping one day and now there are lots of inquires that say they will be on my credit report until 2015. Is it right for all these inquiries to be on my report so long from just one day of shopping for a car?

– RLM

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The meaning of “too few accounts paid as agreed”

Posted on Oct 30 2013 by

Dear Experian,

How can “too few accounts currently paid as agreed” be a reason for an adverse effect on my credit score when I currently have no unpaid accounts?

– MIJ

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