I'm new and need a little advice...
Date: Wed, 10/22/2008 - 22:09
I need to know where to start. I have 6 negative marks on my report, only one of them is what I would consider major (over $1,000 due to apartment thing from 2001), but, all of them had gone to collections (I was VERY dumb in my younger days). From what I'm reading, once these are paid off, they will continue to be on my report for 7 years, is that correct? So, say I paid them all off by 1/1/09, they would all still be black marks till 2016? And, what's the best way to go about getting ahold of these guys? Anything I should be leery of? Thank you in advance. I'm still learning.
Yes you've heard it correctly that even a paid off item stays fo
Yes you've heard it correctly that even a paid off item stays for next 7yrs on your account unless you have any agreement with your lenders or collection agency. It do affect your credits badly. But don't worry you can now remove them from your reports even before the expiry of 7 yrs. It can be done by using services of a repair agency. I would suggest to opt for [url]http://link deleted per TOS - ND/[/url] as it allows to dispute all negatives at a time, thus making the process faster.
To Anthonyoneha and the many other aliases you have used over th
To Anthonyoneha and the many other aliases you have used over the past week. Please read the TOS (link at the bottom of the page). Advertising is strictly forbidden on DebtCC. And your mis-information is not helpful to anyone
Taubin...federal reporting period is 7.5 years from the date of first default. The $1000 from 2001 should be dropping off soon anyway. Regardless if you pay or not, 7.5 years is the maximum a derogatory can stay on your report.
What state do you live in? I would first determin if these debts are past the statute of limitation for your state and if so, send debt validation letters to each of the CA's reporting on your credit reports. Send them certified mail return receipt requested (CMRRR). Track them online and when they have been received, submit disputes to all 3 credit reporting agencies (CRA's). If the the CA verifies the dispute before providing validation to you, then they have violated the fdcpa. If these debts are still within your states SOL period, then it might be best to let sleeping dogs lie. Any more questions let us know or PM me.
Thank you for your help NASCAR_Devil. I am in Michigan, and f
Thank you for your help NASCAR_Devil.
I am in Michigan, and from what I found, this is the statute of limitations:
STATUTE OF LIMITATIONS ON ENFORCEMENT:
Open Account (credit cards): 6 years
Written Contract: 6 years
Domestic Judgment: 10 (renewable)
Foreign Judgment: 10 years
Since these were not court cases (judgments), it should be 6 years if I am reading that correctly... I guess I have some letters to write. Thank you very much for your help :D
With all of that being said paying these debts and getting a wri
With all of that being said paying these debts and getting a written agreement for that lender to take the mark off your credit report's is your best option. That is if you can afford to pay these smaller debts. The large debt obviously should be off your report by now, but for the other ones i suggest trying to pay them. Even if they wont take it off your report it shows as PIF just late. That will improve your credit as well...you need to keep in mind what kind of purchases you will be making to see how crucial it is to make these payments now and if you should settle for anything less than a PIF with the item being removed from your report.
What types of debt and how much? When did they default and when
What types of debt and how much? When did they default and when did you make the last payment? Before you start throwing money around, first lets find out if they have any legal obligation to pay and how much longer they are going to stay on your reports. Never pay anything before you have a signed written agreement in hand. If you're dealing with a CA, a PIF letter and a paid collection are just as harmful to your score. If you're still dealing with the original creditor, then request either a PFD or positive reporting.
Hi, as an FYI, if debt is that old, paying or not paying at this
Hi, as an FYI, if debt is that old, paying or not paying at this point would not effect what you have on your credit report. If you request a dispute from the 3 credit agencies, they are obligated to investigate and reply back to you within 30 days. If they can not investigate, then by law, they will remove it from your credit history. I have first hand experience on this. Please note: Credit repair agencies DO NOT WORK... you can take care of this yourself :)
I read somewhere (few years back) that if you keep requesting for a credit investigation from the 3 agencies (with at least 45 days apart from each repeated request) they will just remove the item from your report because it costs them a lot more to do the investigation rather than keeping the noise low. It is really funny but it did work for me after the 2nd try. Also, you may notice that it may very easily be removed from 2 out of 3 credit agencies, just need to keep an eye on the 3rd one.
Good luck!
Generally if you keep disputing the sae item over and over, they
Generally if you keep disputing the sae item over and over, they will begin to deem your diputes frivilous and you may end up with an extended 7 year fraud alert on your reports.