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 Posted: Tue Apr 08, 2008 2:02 pm Subject: In need of Credit Repair Advice |
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I have a few store credit accounts that went to collection. I was totally naive about what credit was and how it affected me until recently. I would like to repair my credit as best as I can- however i'm not sure what steps to take.
The reports are accurate, but obviously are a red flag to creditors. How can I go about taking care of these? Should I ask for validation letters in hopes that they may not have the info anymore? (it's been a few years), or perhaps attempt to pay the original creditor so I can dispute with the collection agency once it's paid off? Or should I offer a settlement on the terms that they remove it?
I would greatly appreciate ANY info on how I can fix there stupid mistakes.
Thank you so much!
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totallynaive
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Debtcc Points: 100
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| Posted: Tue Apr 08, 2008 2:25 pm Subject: |
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You can challenge anything to the three reporting agencies whether it is correct or not. Only a couple at a time though. Many collection agencied do not have the staff to dig up old files and will not bother validating the entry. It will then be removed. Also building recent positive credit will help. Get a secured credit crard from your bank and pay it off early and in full. This will quickly boost your score!
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frogpatch
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| Posted: Tue Apr 08, 2008 2:45 pm Subject: RE: |
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Thanks frogpatch! Is there a specific format for a dispute letter I should use? And what exactly should I state in the letter? Additionally, should I request a validation from the creditor or should it only be sent to the credit bureau?
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totallynaive
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| Posted: Sat Apr 12, 2008 12:37 am Subject: |
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Hi totallynaive
You can get some help here:
http://www.debtconsolidationcare.com/letters/ ......it has a collection of letters.
Yes ask for validation.... also check whether the debts are past SOL are not? There are many CAs who buy old debts for pennies and sell them in dollars.So, do not fall prey to their tactics....get all the information from the CA first and then think about the next step.
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goodnelly
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