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Posted: Tue May 22, 2007 9:58 am Subject: Uncertainty

Hi all,

I have joined this forum looking for help with some questions I have. I will give you some information about me. I am a single mother of 3 children, about to become a grandmother. I have had to provide for my children alone with no help. I have filed bankruptcy apprx 8 to 9 years ago. I did well for a long time, but the past few years I have fallen behind in my bills yet again. I want to purchase a home for my growing family and am unable to do so because my credit score is too low and I have debts that show up on my credit report. I have purchased a vehicle through a finance company and have never been late with the payment, I have purchased a mobile home and have good standing with that as well. But, I have no idea where to begin to correct my debt issues and how to get these bad collections paid off on my credit report and how long it takes to improve the credit score. I work full time and go to college part time so my spare time is so very limited. I don't have the first clue how any of this works. I have signed up for the services on here, but I hear so many bad stories about some of these organizations.

Please help if you can provide me with any information to help me understand how all this stuff works. I appreciate all the help I can get.

Posted: Tue May 22, 2007 10:26 am Subject:

missy, for starters how many do you have?

Posted: Tue May 22, 2007 10:31 am Subject:

JJ,

Honestly, I'm not sure how many I have. I spoke to a mortgage lender who told me that she would send me the report that she obtained when she ran my credit. From what I gathered during the conversation, I would assume about 8 to 10.

Posted: Tue May 22, 2007 11:32 am Subject:

Missy,
First off, welcome! We are glad you are here. And second, what kind of debt do you have?

Posted: Tue May 22, 2007 11:52 am Subject:

The mortgage lender said there were a few medical bills on there, the others I believe is a credit card bill and the rest are just various bills. One she mentioned I'm not sure what it is but it was for $1200.00. I will know more once I receive her report.

Posted: Tue May 22, 2007 12:08 pm Subject:

Verify the status of each account in your credit report. Negative items drop from the credit report after seven years from the date of first delinquency. If these accounts are past that period, dispute them with the bureau and get it removed. Your scores will go up after some time.

In case, the accounts are within the SOL period, you need to call the companies and work out a plan. They will be willing to work if you offer them a realistic plan and stick to it. CAs cannot sue you for debts that are past the SOL period, but they will stay on your file as a negative item until they are past the reporting period.

Check out this link for some tips to credit repair.

Guest · Posted: Tue May 22, 2007 2:38 pm Subject:

Ok, here is the update...I just got the report in the mail. According to that, I have 39 delinquencies, 20 of which are medical,the others are various. The total $9066.00. Including my car and the current mobile home balances the total is $27,064.

Posted: Tue May 22, 2007 3:16 pm Subject:

Check the accuracy of each item and if there is anything to dispute with the bureaus. CRAs make such errors in most cases.

See each account from the date of first delinquency and verify the SOL period. Those that are within the time frame should be in your "items to fix" list. Call the companies and propose a realistic payment plan and convince them to work with you. Make sure that you do all the communication in writing and have a proof.

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