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About Regan Shinski
(Top Expert on this page)

Expertise
I can help answer basic questions on credit repair, credit counseling, FICO scores, basic credit planning, and the cause and effect of credit related decisions.

Experience
I have successfully had over one hundred derogatory accounts removed from credit bureau reports. Although not an attorney, I have successfully negotiated, litigated, and settled with creditors for cash amounts.

Education/Credentials
BA University of Minnesota

   

You are here:  Experts > Shopping > Credit/Debt Management > Credit Repair

Questions Answered By Expert  Regan Shinski 
In Category  Credit Repair

SubjectDate Asked

settling debt with collection agency11/24/2009
  Q: When I am talking to a collection agency and working out a "deal" they say that they can remove a ...
  A: They are partially right. There is a $600 threshold for reporting on 1099's as dictated by the IRS. ...
settlement of credit card....11/6/2009
  Q: I have reached a settlement with a credit card for approximately 70% of the balance. I had a ...
  A: I can't answer that because I don't know the terms of your settlement and original contract. In ...
judgments10/24/2009
  Q: I kept my ex on my health care and he had surgery and never paid his bill ,well hospital got a ...
  A: If an open judgement is removed from your credit reports, your score should go up. Unfortunately, ...
should i get another credit card10/22/2009
  Q: I only have one credit card, Mastercard. I've used it for many years and have good credit. But I am ...
  A: I have never had a problem with the major sites but that does not mean others have not. You can ...
should i get another credit card10/22/2009
  Q: I only have one credit card, Mastercard. I've used it for many years and have good credit. But I am ...
  A: Lee: It is nearly impossible for me to predict with 100% certainty what you need to do to be able ...
variable APR...Chase Bank10/21/2009
  Q: I have 2 credit cards, a visa and mastercard. The Mastercard is with Chase and I just got notice ...
  A: No. That is a "debit" or "check" card as you mentioned. These are typically not reported to the ...
variable APR...Chase Bank10/21/2009
  Q: I have 2 credit cards, a visa and mastercard. The Mastercard is with Chase and I just got notice ...
  A: There is no question it is the trend. There are a lot of reasons not the least of them is simply ...
Sister's car in my name10/12/2009
  Q: About four years ago, my sister went to get a car but was told she didn't have any credit history. ...
  A: You did not send this question to me. It was sent to the question pool, so I'm sorry if there was a ...
closing account10/8/2009
  Q: I have a credit card at bank of america and have recently received a letter. They made an amendment ...
  A: In theory you do not need to do this. BOA should report it properly and usually the creditors DO ...
Dispute10/2/2009
  Q: I've began to repair my credit on my own. Over the years I have kept an eye on my credit report. I ...
  A: I would not dispute the report date. It's the date the creditor reports it. They are under no ...
prepaid card9/29/2009
  Q: .in 2007, i was the victim of a crime known as kidnapping by false pretenses. during the ordeal, my ...
  A: You did not send this question to me it was forwarded to the question pool, but I thought I might be ...
Settled installment loan9/26/2009
  Q: Due to a change in employment fall of 2008, I approached JP Morgan Chase about a settlement for less ...
  A: What exactly is being reported? It is a single "settled for less than full amount" or a history of ...
Credit repair in Ohio9/25/2009
  Q: I am a 63 year old Ohio resident trying to get a $13,000 new car loan and have been denied even by a ...
  A: A secured card is a wise thing to do. I believe, at this point, it is your only option. I believe ...
OMG9/20/2009
  Q: You sent me a very good, detailed plan for getting my debt under control yesterday 9-19-09. I ...
  A: There are a lot of factors that go into negotiating a settlement or reduced terms. A big factor is ...
OMG9/19/2009
  Q: I make about 3k per month gross. My mortgage is $534.00 per month. My car is paid off. OMG. I have 3 ...
  A: I can't make the decision for you, but you basically have four options. 85% of a $3,000 gross is ...
joint debt9/17/2009
  Q: I recently am divorced and my husband and I have some joint accounts that he is suppose to take ...
  A: Like many questions I receive, there are a few points at play here. If they were legitimately your ...
Paying Too Soon?9/11/2009
  Q: Nearly 6 weeks ago, I paid off all my credits card and my credit score (at least on one report) went ...
  A: No, I believe your concern is unfounded. It is better to pay off your cards as soon as you can and ...
Insufficient Credit9/5/2009
  Q: Love your name btw. I have applied for several different credit cards and have been denied every ...
  A: Interestingly enough, your name is one of my all-time favorites as well :) The first thing you ...
RAISING CREDIT SCORE FAST9/4/2009
  Q: As of 9/2/09, my credt scores were as follows: 701 Experian; 615 Equifax; and 600 Transunion. I ...
  A: Carolyn: This may be difficult to accomplish in the 3-4 week time period you stated because any ...
Credit scores9/2/2009
  Q: I have 11 credit cards. I don't owe anything on any of them ($0 across the board) Myif I start ...
  A: Yes, that sounds fine. I would kind of refer back to my original post. I would only close accounts ...
Credit scores9/2/2009
  Q: I have 11 credit cards. I don't owe anything on any of them ($0 across the board) Myif I start ...
  A: Kevin: There is the possibility of your scores going down if you close accounts. What factors in ...
Debt Older Than 7yrs8/27/2009
  Q: I read your response to a question regarding an account that was established in 2001 and therefore ...
  A: Credit companies and collection agencies, have been known for "re-aging" bad accounts making them ...
The death of credit8/26/2009
  Q: First off...thank you for such a wonderful site and all the experts giving great advice. OK now ...
  A: Kevin: I will try to answer your questions as you gave them: 1.) In general, paying off debt will ...
Paying a debt.8/24/2009
  Q: I opened a finger hut account back in 2001 when I was young and never payed it. Since then fingerhut ...
  A: The key to this question (credit-wise) is the date of first delinquency. That is when the account ...
Home loan8/21/2009
  Q: I'm getting ready to apply for a home loan of $80,000. My credit score is 777, however, I have ...
  A: Yes! :) The only other factors COULD be assets (i.e. liquid reserves such as cash, 401k, or other ...
identity theft8/13/2009
  Q: I recently checked my credit only to find that my social security number had been used several times ...
  A: Sorry you have been a victim of this. It's awful! However, there are certain steps you can take to ...
Dispute Charges snt to collections8/12/2009
  Q: I had been turned over to pre-collections by my previous telephone carrier because of a disputed ...
  A: Amy: You did not send your question to me. It looks like it was sent to the general question pool ...
Credit score and CC balance8/7/2009
  Q: I have a question regarding the use of CC. We are new to the USA and new to all the credit score ...
  A: I will try and answer your questions specifically and in order: 1.) The general consensus is that ...
Paying Off Credit Card Debt7/29/2009
  Q: I have $4200 in credit card debt (on 4 credit cards) and am thinking of using my savings to pay it ...
  A: 1.) If they've been closed for "years" you are correct that it is not likely they will be ...
Paying Off Credit Card Debt7/28/2009
  Q: I have $4200 in credit card debt (on 4 credit cards) and am thinking of using my savings to pay it ...
  A: Stephany: Congratulations on taking steps and ownership to improve your credit! I will answer your ...
Credit7/28/2009
  Q: I'm in a tight spot. Due to financial difficulty I am going to stay with my ex husband out of the ...
  A: Obviously the decision is up to you. If you do that, let's look at the best and worst case ...
Credit7/28/2009
  Q: I'm in a tight spot. Due to financial difficulty I am going to stay with my ex husband out of the ...
  A: I wish I had better answers for you. If the car gets reported as a repo, it's not good. Anything ...
Credit repair7/24/2009
  Q: I filed for Chapter 7 in March of 2008 and was discharged in June 2008. Since then I haven't had any ...
  A: Stacy: You're welcome and good luck! There are always exceptions, but credit is mostly about ...
Credit repair7/24/2009
  Q: I filed for Chapter 7 in March of 2008 and was discharged in June 2008. Since then I haven't had any ...
  A: The real bad first: There is no quick way to boost your score. What are you trying to do? You ...
unsuccessful dispute7/21/2009
  Q: I unsuccessfully disputed a paid collection account. I had paid it, and it was reporte as paid, but ...
  A: If this is a collection account, meaning the collection agency is the one reporting to the credit ...
installment loan7/19/2009
  Q: I have paid off my credit cards and rebuilt my credit over the past few years. Now I only have my ...
  A: "Credit repair" is a complicated endeavor. Good credit repair companies (like us) take the time to ...
installment loan7/18/2009
  Q: I have paid off my credit cards and rebuilt my credit over the past few years. Now I only have my ...
  A: Reactivation would be better than a new account. When doing so I would first try to get a feel from ...
installment loan7/18/2009
  Q: I have paid off my credit cards and rebuilt my credit over the past few years. Now I only have my ...
  A: Anthony: Congratulations again on keeping your credit in check. Normally, I would say - in a ...
credit scores vary on two sites7/18/2009
  Q: My credit scores on truecredit.com all show as around 725, which I was quite happy about. Then I ...
  A: I wouldn't necessarily say you've been "misled" by truecredit. The company that creates the FICO ...
Credit Card Debt/Debt Consolidation Loan7/12/2009
  Q: I have amassed $16,000 in credit card debt. I am contemplating the best way to tackle this debt as ...
  A: This is actually a pretty easy answer. If you can get a consolidation loan at a lower interest rate ...
Coming into money7/9/2009
  Q: I really need some advice. My hubby lost his job months ago, and we've been really struggling. We ...
  A: I'm sorry to here of your troubles. You are not alone in this economy and it certainly is a blessing ...
Raising my Score7/7/2009
  Q: I am trying to get my first mortgage and I am very close. I am trying to raise my score by twenty to ...
  A: Keisha: Congratulations on being so close to getting your first mortgage! This should definitely ...
How to fix my credit?7/6/2009
  Q: Good afternoon, I am 23 years old, in college with a poor credit score. My score used to be very ...
  A: You have a pretty complex situation involving issues of credit, mortgage, and financial planning. I ...
Debt Consolidation7/2/2009
  Q: I'm about $50,000 in credit card debt. My wife lost her job a year ago and is now staying home with ...
  A: Robert: I am sorry for your situation. You are not alone. people will disagree with me, so this ...
credit help please6/24/2009
  Q: I have been repairing my credit for the past few years and when I finally paid off what I thought ...
  A: Congratulations on making such great efforts to improve your credit. I know it's frustrating, but ...
credit report charge offs being made current6/18/2009
  Q: This month I pulled my Equifax credit report and I saw 4 entries that moved from a 9/2005 " date ...
  A: What you are seeing is common and, very possibly, legal. Creditors are allowed to update the status ...
debt reduction6/15/2009
  Q: I have a household income of $175,000 and a fico score of 785. For the past several years I have ...
  A: Larry: It is less expensive to pay the $300 fee and zero percent interest, assuming you are keeping ...
Credit scores and how to improve them6/14/2009
  Q: I have a few questions regarding credit scores and how to improve them. What can I do to improve my ...
  A: Nicole: Congratulations on making the decision to improve your credit. However, the questions you ...
prepaid debit/gift cards6/11/2009
  Q: Is a Visa gift card (purchased in an amount certain, ie, $25, 50, 100) the same as a Visa prepaid ...
  A: You must have "interlink"? I think merchants should be able to process the transactions as "credit" ...
prepaid debit/gift cards6/10/2009
  Q: Is a Visa gift card (purchased in an amount certain, ie, $25, 50, 100) the same as a Visa prepaid ...
  A: Yes. They can be arrived at via different methods (refund without receipt vs. purchase, etc) but ...
CREDIT SCORE REPAIR6/1/2009
  Q: I have debt ranging from $2300 to $2350 that is listed on my credit report. I lost my job and I ...
  A: Paying the debt will have a positive impact on your credit score. In fact, it could have a VERY ...
Debt elimination by use of tax credits5/25/2009
  Q: I recently became acquainted with a group which claims to be able to eliminate all debt that has ...
  A: If you are writing about one of the two companies I am thinking about, I believe this is a scam. It ...
My Mother's Debt5/23/2009
  Q: My mother recently passed away and I've never dealt with anything like this before. I was told to ...
  A: I am very sorry for your loss. On a personal note, my 41 year-old wife is dealing with advanced ...
Husbands Old Forcloser on credit5/21/2009
  Q: Before my husband and I got married he defaulted on a home loan. The property went into foclosure ...
  A: Andrea: From what you are telling me it is reporting incorrectly. It should be marked as closed ...
Insufficient Credit5/13/2009
  Q: My boyfriend went into a car dealership to purchase a used car for $7,995. He had a low down payment ...
  A: Well, you may not exactly like my answer, but I think they're terrible. Incredibly high interest ...
Insufficient Credit5/12/2009
  Q: My boyfriend went into a car dealership to purchase a used car for $7,995. He had a low down payment ...
  A: The "Buy here, Pay here" I was previously writing about are used car places. They are usually ...
Credit Card Repayments5/12/2009
  Q: I have £5000 on a credit card with my bank at 25% interest. We have been paying off the minimum ...
  A: The best time to make the payment is as soon as you can. Most cards are set up to compound interest ...
Insufficient Credit5/12/2009
  Q: My boyfriend went into a car dealership to purchase a used car for $7,995. He had a low down payment ...
  A: You have run into a situation most people do not think of but happens all the time. Everyone ...
canceling a credit card5/7/2009
  Q: Do I need to notify in writing or otherwise a credit card holder when I want to cancel and destroy ...
  A: I sorry to say, I'm not 100% certain your situation on this card when you say "credit card holder." ...
education loan4/16/2009
  Q: hey there, i was lucky to graduate college with no loans and just paid down (like from $6000 to ...
  A: No changes in my thoughts. You will likely see a good jump in credit score just from the reduction ...
Debt - Marriage - PRENUP4/15/2009
  Q: When I become a freshman in college several years ago my father thought it would be a good idea to ...
  A: The first thing both of you should do is realize what will and will NOT change once you become ...
Debt - Marriage - PRENUP4/14/2009
  Q: When I become a freshman in college several years ago my father thought it would be a good idea to ...
  A: I am sorry you are facing such a situation. Based on the information you provided, I can only ...
Bank account garnishing4/7/2009
  Q: I wonder how, exactly, creditors are able to find any bank accounts a person might have? Do they ...
  A: Kim: I sorry to say this is really not my area of expertise as I really specialize in credit ...
Credit score improvement4/6/2009
  Q: I recently paid off all of my collection accounts on my credit report and my credit report has been ...
  A: Kevin: It sounds like you need to open additional accounts. In fact, a minor portion of your ...
Credit Score4/4/2009
  Q: I am trying to repair my credit. Right now my score from the Big 3 ranges between 568 and 590, I ...
  A: Yes. Very likely it would help your score with one possible exception: if you have little or no ...
Credit Score4/3/2009
  Q: I am trying to repair my credit. Right now my score from the Big 3 ranges between 568 and 590, I ...
  A: James, As with most credit issue the answer is "it depends." However, if the loan is late AND ...

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