Questin on Attorny and Credit Reporting
Date: Thu, 01/22/2009 - 10:25
I told him I wanted "Paid" or "Paid as agreed" on my credit reports instead of "collections" or "settled for less". He said it would be "settled for less" according to law and can only get "paid" if the account is paid in full and not payment arrangments. So If I decide to do this and pay my accounts off, can't he negotiate a "delete for pay" once they are satisfied or does anyone know of an attorney in houston who handles debt settlement cases that can do this? Also if nobody has another attorney, how long after would I have to wait or how can I go about getting "collections" or "settled for less" off my credit reports? Does anyone know of any tricks in doing so? Would I not be able to get a lease on a car if I wanted to trade mine in once in this? How long afterwards does it take for your credit score to rise back up and have all this stuff be removed so I'm not judged anymore with "settled for less accounts"? He also said credit repair companies usualy don't work. I need advice, the offer sounds good but i'm worried about the wording on my reports and length of time to bounce back. thanks
So I read both the above two hyperlinks but it seems its going t
So I read both the above two hyperlinks but it seems its going to be "settled" regardless of what I want or what i've read on this forum. So if I do this, how long before my score will go up? Will I ever be able to get this removed? Will this stop me from getting apts or car leases?
it will stay on your records for 7 1/2 years either way, but len
it will stay on your records for 7 1/2 years either way, but lenders look at settled debts differently than paid in full debts ... my scores are over 700 but I still can't get refinanced on a property because of an incorrectly reported old debt showing as settled rather than paid in full. Do you BEST to have them bargain for "pay for delete", but it is unlikely that you'll get a pay for delete on a settled debt from what I have seen and read. Good Luck!
do credit repair attorneys help after the fact? with your score
do credit repair attorneys help after the fact? with your score over 700 do you have any problem leasing cars or buying a home? I know you said you refinanced but if everything said settled correctly i'm asking?
I TRIED to refinanace but couldn't find anyone to do it until a.
I TRIED to refinanace but couldn't find anyone to do it until a.) my FICO improved into the mid 700's, they said the lenders are just being VERY picky right now, and b.) I was able to buy a vehicle this past year and was able to get a loan on it, but at 16% ... which sucks of course!
I have an attorney working on the incorrect reporting of my debt, but with the collection company ignoring the matter, it will take longer as they are now having to file something relating to the "default motion" that I supposedly will be granted.
If it was a "small" amount, it would be one thing, but with you, the difference in $26,000 and $55,000 is pretty darn big. Are you unable to buy a car now in your present situation, and THEN to the debt consolidation?
Oh and for me, my scores didn't creep up into the mid to high 600's until the paid debt had been paid for 2 years, the original dent was 6 years old. Good luck!