Working on clearing the Negatives!
Date: Thu, 11/22/2007 - 21:30
I'm in Colorado, have a total of 6 items I am trying to resolve, all are charge-off/collection items incurred due to lack of payment in 2004 when money became a major issue, most are from credit cards. I had excellent credit! The debts all seem legit (except for the amounts on a couple) and total less than $6000 (which is much higher than I think it should be.)
1. I plan to get very aggressive about this. First of all, if there is a problem with them in my rights under fdcpa or the like, is there a way I can fight to have the debt removed completely, or will likely require a lawyer to do such a thing?
2. None are set to civil actions, only letters from bottom-feeder lawyers, but only to pay, no threat to sue or likelihood they will sue. I want to get the debt validated properly as I am allowed, but should I deal with the COLLECTOR or the ORIGINAL CREDITOR for this and all actions?
3. If they fail at this step alone (of course with certified letters and a follow up) is this enough to go back to question 1 and fight for removal, or could they just replace it back and I have to start over again?
4. In such a situation, is a debt settlement company good to deal with? I don't want to get an attorney to help either!
I'm only going to deal with the amounts I know I can pay, and I found some brilliant samples from this site for letters. I recently purchased a car with a ridiculous interest rate (given my credit score, I don't blame them!) but I have a company I preferred to deal with anyway to refinance when I get my credit good. I can't sit around for the 7 1/2 years since only half over to let the debt fizzle, any thoughts would be greatly appreciated!!!!!!
First thing I would do is challenge everything negative on your
First thing I would do is challenge everything negative on your reports and see what falls off.Next I would send a validation letter to each collector or attorney certified return receipt.
Hi Shodankid Dispute the errors and inaccurate information in
Hi Shodankid
Dispute the errors and inaccurate information in your credit report.They can lower your credit score. Lenders use information that is in your credit report to determine whether you are suitable for a loan or line of credit or not. If your report includes negative information then it will reflect your creditworthiness badly. When the lenders will see this ???????bad???????? information, they will most likely charge you a higher interest rate or worse, turn down your application for loan altogether.
Take care
Nelly
They have the right to report you for up to 7 years if the debts
They have the right to report you for up to 7 years if the debts are legit.
Order reports directly from ALL 3 CRAs - If you cannot afford to purchase them you can get your free annual report.
*Please keep in mind that disputing with a free annual report gives the CRA more time (45 days). It is not wise to dispute with these because it will lessen your chance for a deletion.
If you challenge information on a credit report through disputing, the credit bureau may reply and state they "verified" the information and it will stay on your report
You then have the right to ask how they verified. Legally you can ask for procedures. Within 15 days, they must respond with contact information and how they got the confirmation. They have 15 days to respond. If there is no response, you can then demand removal due to their FCRA violation.
From the FCRA:
???? 611. Procedure in case of disputed accuracy [15 U.S.C. ???? 1681i] [iii] a notice that, if requested by the consumer, a description of the procedure used to determine the accuracy and completeness of the information shall be provided to the consumer by the agency, including the business name and address of any furnisher of information contacted in connection with such information and the telephone number of such furnisher, if reasonably available.
[7] Description of reinvestigation procedure. A consumer reporting agency shall provide to a consumer a description referred to in paragraph [6][iii] by not later than 15 days after receiving a request from the consumer for that description
It is also a good idea when doing credit repair to go ahead and OPT out as well
When you examine your own credit file that is considered a soft pull. If someone else does a soft pull, it only contains your "credit header" information; name, address, SSN, DOB, Employer, Previous Addresses. Financial transactions and account information is excluded.
A soft pull is often done to verify identity or for promotional offers. Anyone with "persmissible purpose" can run a soft pull; if you apply for credit, have an existing account or financial relationship with an individual or business.
If you don't want your information shared for promotional offiers, you must opt out.
1-888-5-OPT-OUT (1-888-567-8688)
credit report
Yep.......the only 'safe' and 'accurate' way, to fix your credit is...do it yourself. I know sometimes it seems like it may take a while, but, there are ALOT of 'companies' that say you can fix your credit. yeah.............I agree, dispute items that have been on your CR for a long period of time.
removing negatives
Something I really want off my credit report are my Bankruptcies.....any advice on getting these off?
Hi candiceann Bankruptcies stay in your report for up to 7 to
Hi candiceann
Bankruptcies stay in your report for up to 7 to 10 years. But again a bankruptcy filed five years ago won't affect your score as much as a 5 month old delinquent account would do. Its always the recent payment history that matters...if you have recently filed for a bankruptcy then yes it would matter a lot.
Take care
Nelly