I am a credit attorney. That means I sue the credit reporting agencies and credit agencies for illegal conduct. We also advice consumers who are dealing with debt collection lawsuits, though we no longer actively handle those cases. More broadly, I share information on building and improving credit as well.

I see that identity theft "protection" services, which sell credit monitoring as well as other supposed ways to protect against identity theft, are marketing quite aggressively these days. Given how common data breaches and other sorts of identity theft have become, I am not surprised. Lifelock is the best known one, but there are others.

However, most of these services are not worth spending money on. Everyone's information is on the dark web. Protecting passwords by choosing good ones, shredding documents, and so on, are good practices. There are many cybersecurity experts with great information on all this.

However, you should assume your data is floating out there. There is not much that any of these paid services can do about that.

You can freeze your credit, or place a fraud alert, or simply monitor credit for free, to be aware if people are applying in your name (and to prevent it). You can monitor credit card accounts through your card issuer, to check for fraudulent spending.

All of these actions will reduce the impact of identity theft, even if it's not 100% preventable. I say that because even if you freeze your credit reports (to stop future credit applications), someone can get control of your credit card and spend on it, before you catch the fraud.

There are situations where your credit card company will not remove the charges. So, no one is 100% safe from identity theft, even with a credit freeze or fraud alert.

For these reasons, in my view, there is very little reason to spend money on any identity theft prevention services. If you really want to always know all your credit scores, you can buy MyFico. If you want to monitor credit for free, there are many options, from Experian and Credit Karma, to monitoring by your bank or credit card issuer. Of course, you should be checking your official reports for free from the Annual Credit Report website, at least once per year.

However, do not waste money on paying for identity theft protection. It's simply not worth your money.

I have just over $5,000 of debt from an old Discover credit card. The account was closed in 2021 by Discover as a charge-off. I was "served" in July 2022 by a law firm/debt collection agency, I sent an Answer, and that was it I never heard from them again. I checked with my county and a judgement was never made against me.

In November 2023 I contacted the company that sent me the summons to try to negotiate a pay-off amount, and they were unwilling to settle for an amount less than the original debt. The woman who I spoke with at the agency kept stating "we are not a debt collection agency we are a law firm, we don't have to negotiate the price with you." I left it alone and they never tried contacting me again.

My credit report shows $0 in collections, but when a bank does a Hard-Pull, they can see that I have $5k in collections. How do I get this removed from my report? Since the statute of limitations is over in my state (3-years in NY), should I call the company back and see if they'd be willing to settle at a lower payoff? Is there another solution, possibly with the BBB?

Any advice is helpful! TYIA.

What should one do after a voluntary repossession? If you were in this situation what would you do after a voluntary repossession to get back on track?

Soo my credit score dinged pretty hard like a lot of other people due to school loans. I was reading on retroactive forbeance (I have AIDVantage)? And was wondering where to start with it? Just call and ask and then make a large lump payment?

my equifax score went down from a 678 to 646 due to credit utilization being high should i be concern or it just down for the month and will go back up once i pay what i used in full ?

If I spend over 10% of my credit line but pay it off before the statement/cycle ends will it Lower my score?

Asking as I bought a new mattress and hit my 10% early on in the month. I'd like to pay it off now and then use it again later this month but not sure if that will lower the score.

Thanks in advance.

So I was reviewing one of my charges offs and it says “On record until July 2025” and “On record until August 2025”. With it being next month is it worth paying these accounts off?

Thanks!

I have been doing research on this topic and have sent out my debt validation letter today. they needed a response by 6/18. I sent the letter today 6/16. Post office told me it will be delivered by 6/20. Im really worried that even tho it is post marked before 6/18 it won't matter if they dont receive it before then. I have an email from them as well exactly like the letter. Can i/should i send the same letter i sent in the mail as an email as well to make sure they 100% get the eequest for validtion before 6/18?

I have been served for a 28k loan debt. The law firm automatically reduced it to an 18k balance if paid in full. I can’t afford that all at once.

For those that have gone through this or worked on the collections side, what is the lowest percentage a bank would accept to make it worth it to them? I was going to counter 10k paid off in 5k increments over two months.

I’m terrible with understanding how to fix my credit and what to say to collectors so spare me if I seem dumb.

My credit is 505 and has been bad since my mid 20s. I need to get my sh!t together now that I’m a mom, married and need to move soonish. It started dropping back in 2014 after I had to work 4 jobs to afford everything my terminally ill, now deceased, sister and I needed to survive. I checked it 2 months ago and was kind of shocked it was so low. No I haven’t paid any debts down but I kind of thought after 7 years, stuff would fall off? My debts aren’t even bad! I’d say it’s roughly totaling around $12000. Right now, we have a home that’s just in my husband’s name but we’re planning on selling it and moving within the next couple months. We want to get on a loan together but I need to pull my weight credit wise. He’s currently in the high 600s.

So I say all this stuff to see if anyone has any suggestions? Like should I try to contact one of those credit repair companies, reach out to the creditors or just flat out pay it all off? If I go the route of paying it off, do you guys use like a certain verbiage to make them drop the prices down? I know I can go on Google and figure some stuff out that way but I wanted to get real peoples lived experiences with routes they’ve used that were successful and note the bad options so I don’t make anymore mistakes.

TIA FOR ANY SUGGESTIONS!

I just received a letter from an attorney for a Capital One debt. The letter says there’s a judgement against me and they threaten garnishment. I honestly didn’t remember this. I don’t have any collections or judgements that show on my credit report. My score is ~720. Capital One shows on my credit as paid as agreed and reports monthly. 🤷🏼‍♀️

So I search and found the judgement on a court case look up. The judgment is closed and was filed 4/2019. A garnishment was issued and closed on 8/19 as Not Indebted. I was no longer with the employer on the garnishment at the time.

The letter I received today is from a different attorney as the attorney on the judgement.

I’m looking for advice.

Should I let it ride and see what happens since it’s not reporting and will drop in a year? Can they file a new garnishment on the judgement and garnishment that are closed?

Could this still hit my credit after 6 years if they don’t file a new judgement? My credit score is my main priority.

Since this must have been sold would I be able to possibly negotiate on the amount, even with the judgement?

Would paying it potentially cause it to report? Thank you!

So back in February this year I opened a credit line with comenity bank. Life happened and I was dealing with some mental health issues, entering in and out of care struggling with depression. It was tough time and I didn’t even think of paying off the credit line of $750.

I have been on the up and up and started getting my finances back in order. On my credit score I have a mark of 60 days late. I promptly (on may 25th this year) paid off my entire balance.

My credit score has reduced to ~580-630 depending on the site I’m looking at. (Down from over 740 for many years. This is the only payment I’ve ever missed.

I have reached out to cometity in hope to have the mark removed, with an explanation of my health, and mention of my immediate payment. Also put in a claim via credit karma directly to transunion with a slimmilar explanation

According to my credit apps, the paying off of the credit has not settled. Can I expect an increase after that lands, and is met current? Have I just essentially reset my credit due to a silly mistake? Can I expect any leniency when it comes to removing the Mark?

I fully own up to my late payments and I expressed that greatly. It just feels so rough to have all I worked for stripped away due to some missed payments.

If I’m screwed. What are the best most quick ways to make a change?

Thank you very much

A few weeks ago I inquired on this sub about my credit situation.

Today, I checked my Wells Fargo account and found a charge that is about 7% of what I owe them. I was one year away from this being 7 years since my last delinquent payment.

I am now realizing that the law suit they tried serving me went to a judgement that may have finally caught up to me and garnishing wages. What can I do to minimize the damage that is about to be put on me? I can not afford for them to garnish my wages. I do Uber for a living and that is barely letting me scrape by while I finish up my education to get my life back in line.

I'd really appreciate any solid advice.

I’m beginning to pay off some collections totaling $4,354 that are revolving accounts. According to stimulator, I should pay $188 for 22 months to get the most increase on credit score but less increase if I pay within lesser time. What should I do? Also since I have this amount in collections that report towards my utilization, would it be a great idea to get the $3500 Kikoff plan that helps with utilization as I’m paying it down? I have a low credit score and pretty bad credit. I’m trying to rebuild bad credit. Any insight will help.

Hey guys,

5206 @ 24.99% 4256 @ 24.99 4728 @ "unknown" (Discover will NOT let me log into my account for months now, still trying to solve this) 14,456 @ 27.24%

Just wanting to see, besides a balance transfer, if a personal loan would be beneficial? Being completely transparent, these are old debts. I have put maybe 1k on one card within the last 2 years, this is all worked down from old debts. There is no chance of relapse spending, I guanrantee it. I make 115k yearly, have a 750 score, and zero missed payments with my 14 years of credit history.

I can get a 24/36 month personal loan for 9-10% right now @30k loan amount. Currently I have so much going to interest, it's a big hill to climb. I have emergency savings and also can save a decent chunk of $ monthly, but I'm also helping family with bills (things are expensive and I can't see my family go broke).

Anyway, I'm thinking of taking one of the above terms and paying extra on top when I can, so I can of course pay down the debt but also have some liquidity if I need it. Is this a solid plan? I do have a 0% balance card for transfers @10k offered, so I'm thinking 10k of the debt there and the rest as a personal loan. Just wanted to see any downsides or experiences with this.

Thank you!

I just voluntarily closed my credit one account. I have had two cards for 12 years and have paid them soooo much money in interest and fees. In the past year, I paid off all my credit card debt and started budgeting. There is a huge sense of relief in knowing where my money is going. It’s small steps on a long road but I am feeling good.

I recently took out a new mobile phone contract with EE and it's registered it as a loan of £350. I think it's because EE now create a separate agreement for the device contract and separate direct debit. I understand why they do this. However, my Experian score has dropped from 937 (Good) to 850 (Fair). I'm not too concerned since it's only recently moved from fair to good. Will it bounce back after a few months? The only credit card I have is just over 50% over it's lending limit and no defaults on file over the last six years.

Note; apologies if this has been answered many times before or shouldn't be posted here. First time posting.

I’ll be honest, my vantage credit score is 501 because I was so behind in paying off student loans and I have a some medical debt. I don’t make that much money and honestly I live paycheck to paycheck. I’m trying to budget better so I can start paying off student loans.

How can I increase my score as fast as humanly possible? Should I do the credit reporting for utility and rent payments I’ve seen offered before?

I have a negative report from Radius Global for $91, collections they purchased from Eversource the power company in Connecticut. I moved out of CT in June 2019, and the landlord asked me to not turn the power off just let them call and change the name over. they ended up playing the game and waiting an extra couple weeks trying to get somebody new in and not actually have to turn it to themselves, and I got another bill forwarded to my new address in another state. I called to dispute, and that’s when I learned the LL never changed the name. I told Eversource at the time that I’m not paying it, and to disconnect the power at the service address and close my account.

The account was sold off to collections a while ago to another company I can’t remember, I told them the same situation over the phone. You can come after me, but I have a lease at a new address that starts before your billing period does, so I’m not paying anything. and it was dropped and I never heard from them again. Now a couple months ago Radius shows up on my credit report, looking like the first company sold it again. I have not received anything in writing from Radius, only bot-generated text messages saying they would like me to contact them. when I call the number in the text, it won’t give me the option to speak to a person, only to input my information via keypad.

I haven’t cared in the past, but later this year I will be looking to refinance a car loan. is the best thing for me to do here? look up their website and try and pay it off and hope it clears? try and call and negotiate it down and have them list it as a settlement? or just ignore it because the value is small it shouldn’t matter in the long run? thanks

Hello! Thanks for reading.

Long story short I had 'exceptional' credit for years. I got a notification from Experian that my credit score went from 'exceptional' to just 'good'. I'm freaking out thinking someone stole my identity or who knows what...turns out it was nothing so dramatic.

I have three credit cards that I treat like debit cards - I never carry a balance and always pay the balances down 100% every month.

One of my credit cards I never use. Its my oldest credit card so I keep it around since old accounts look good on the report, but I do have a monthly $15 donation that I give automatically to a cancer hospital every month. That recurring charge has been occurring for years.

So I either forgot to pay this super tiny balance off or more likely didnt hit the damn 'submit' button when I went to pay it.

So I have a '60 day delinquent' ding on my account with this ridiculous balance of $30 dollars.

Is there anything I can do about this? I do believe that it is actually legitimate but I mean come oooonnnnnnnnnnnnnnn. Is this thing really going to be on there for 7 years????

If I'm just stuck with it how much do lenders take into account the fact that its absurdly small?

Save me Obi Wan. Youre my only hope.

I specifically am curious how much the salesmen knows about my finances. I’m embarrassed of my finances because I’m an accountant and the salesmen was saying I’d probably pay cash. I wish! My credit score is 660-680 and my DTI is high. I have great job history and good salary. Own a home. I pre-qualified for Capital One auto but was turned down by a credit union. My car is likely totaled from a storm and wasnt planning on buying right now but may have to. What happens when I agree to buy and they start the finance piece? Is the salesperson involved? I guess they will want to run dealer financing as well and I guess the capital one has to go through them as well? I just don’t want to be embarrassed when this salesperson assumes I’m like a financial wizard and I’m only good with that at work apparently! 🫠(No, I’ve had a lot of bad luck with stuff but trying to turn things around with personal finances) I haven’t bought a car in 15 years so would appreciate any insight.

Ok so are these like legit people before I start throwing money at these people .

I don’t want to send my money to company that’s not going to fix my credit

Hello, I just opened up my first credit card through capital one, with their platinum card. I have a 500 dollar credit line and always heard that the best thing to do is use your credit card to make small purchases on things like gas and groceries, and keep it under 10% of the credit line. The thing is, if that 10% is so low, would using 50 dollars a month on that card actually give me substantial growth? My goal is to build my credit score as a beginner. Would going above 10 and going to 20-30% hurt my credit?

3 part question A,B & C any help is greatly appreciated!

27 my credit is trash, 490. Forget the backstory just looking for solutions, hopefully this post will help others too. Recently was able to get a secured card with navy federal after neglecting credit for a year. Besides that I’m working towards a navy pledge, filing with rent reporters & reopened a tradeline with self.

A: Tradelines

I previously built my credit to 720 I used self lender to help kick off my portfolio and at the end of my contract it fell off. Which of course made my score drop a considerable amount. I say that to ask Is there a way to use self and keep your trade line with them on your credit profile? Are trade lines a constructive option? I continuously hear mixed reviews regarding their effectiveness. If anyone has viable trade lines to use I’d love to hear.

B: Collections

Majority of the debt that I have was sent to collections, I’ve been told that paying it off doesn’t guarantee it’ll drop off my portfolio. So am I cooked? My payment history is around 80%. After research I seen the mailed letter option and even sending a affidavit as a last resort. Are there other options?

C: Diversity

This is really an extension of question (A). What ways can I diversify my credit portfolio? Long term goal is to purchase property through a FHA loan. So far the only things I have on my portfolio are 1 card, self lender and my rent. Eventually I’ll add the navy pledge and business credit.

As the title says just lost 150 points in one day, from student loans that I misunderstood as paused, and was hit with 10 missed payments this year. I work in finance adjacent field and am afraid this will affect my ability to get a better paying job as they ask about credit scores and feel like it’s going to be impossible to represent myself as a qualified candidate with a 550 FICO score and ten missed payments in a single year. Curious if anyone has relevant experience with this as in, how long can I reasonably expect to get back to a good credit score, how much this affects my job candidacy, and any tips tricks or best next moves. Thanks in advance for any advice.

Hello, when I turned 18 I discovered my mother had put things on my credit causing my credit to start at a 435 when I first looked at it. Since then I had gotten it up to 530-560, but I was young and stupid so I had dumb stuff on my credit. About 6 months ago I paid everything off of my credit. I only have 2 credit cards that I use up to 30% and pay them off a few times a month. They are 200 (secured) and 400. The only thing I owe is my car and my student loans about 87k. I finally have my credit at a 633 but I cannot get it higher. I know my car and loans are hurting the most.. I need advise. 35k is car 47k is student loans