Law firm left note at door, now I want to restore my credit
Date: Fri, 10/13/2006 - 06:34
I pulled my credit report last night:
Negative items:
1. $3100 BOA credit card, collection/chargeoff, but I remember the balance was only about $1800.
2. Different BOA credit card, (1) 30 days late, TU reports closed but the other 2 reports open
3. $40 SCE electric bill, collection/chargeoff, but all 3 CRA reports "now paying/making payments"
Collections:
1. NCO FIN/27, reported in Experian as derogatory, balance $230, OC is BOA
2. Amsher Coll, reported in TU and Equifax as derogatory, balance $220, OC is Tmobile
3. Oxford Collection Serv, reported in Experian as derogatory, balance $200, OC is Cingular
4. Unknown collection (no name listed), reported in Equifax as derogatory, balance $200, OC is Cingular
Questions:
1. Do I send a letter to all 3 CRA to dispute all the negative AND collection items?
2. Why does TU report account as closed but the other two CRA as open?
3. The note left at the door, I ignored the note and never contacted the law firm, but I am assuming this is in relation to the $3100 debt which was $1800 originally, I misplaced the note already, what will happen and what should I do?
4. Do I send a verification letter to SCE also, it's for an utility bill, not credit card. Also, I haven't made any payment to the account, why is it being reported as "making payments"? Can I use this against the OC to get this cleared off?
5. For Cingular and Tmobile, do I contact them directly or deal with the CAs (only the CAs are listed)?
6. The unknown collection company and oxford's balance is exactly the same, I think it's probably oxford, can this be removed since there's no name listed?
7. Do I also need to dispute the 30 day late item?
8. The NCO FIN/27, I have no idea where it could be from, the only thing I guess is from my Visa check card which was tied to my bank account (closed by bank for insufficent funds), but I thought that's reported Chex system only?
9. The only CA to contact me by mail was Oxford, they recently sent me a letter with a settlement amount. In the past, they have sent me 2 other settlement amount letters. This one is past the 30 days since initial contact, should I still employ the 1-2 punch tactic?
10. The other CAs listed haven't contacted me by mail yet, I am not sure about phone as I just unplug the line. Can I still use the 1-2 punch with these CAs?
My current financial means: I have won about $10000, which is more than enough to cover all my debts. I am willing to do anything to restore my credit, even paying the full amount instead of a settlement amount.
One more question, should I first try to negotiate with CAs and
One more question, should I first try to negotiate with CAs and OCs for a PFD first? Then if they won't agree, I start sending the validation and verification letters?
If there is a prominent error and you have proof of it, dispute
If there is a prominent error and you have proof of it, dispute it with the CRA. They will have to correct your file otherwise provide you the proof about why they think the item is still being reported. If the other two cra's are not reporting the item, there maybe possibilities of an error but you can't relate the items put by one cra with the other. This is because companies do the reporting to the CRAs individually. It is up to them which bureau they are reporting. The bureaus don't share the information within themselves.
Contact your creditors individually and get the latest status of your file. Some of the accounts might still be with them and they can work on your payment arrangements. If the accounts are old enough, they may might be sold to some collection agency with whom you will need to deal with. Get the status from your creditors and then move from there.
