Credit Repair *updated 07/25/05*

[John]

I'm in the midst of doing some very aggressive credit repair, and I thought I would show you guys how its coming along for me.

I lived a very careless and irresponsible youth. I had money, but would rather spend it on other things, so many times bills would go unpaid, and thus my credit score hit the crapper. I figured so long as I had money, what would I need credit for? Well as my tastes changed from cheap toys to more expensive ones, and my desire to own a home, I found out how important credit is. Not only did I have bad credit, but I also had no lines of trade at all.

So, about a year ago, I decided to buy a house. Of course i was in for a difficult time, as I had no lines of trade, and more than a few items in collections. I was forced to pay a lot of these off in order to close the loan on my home, we'll call this step one. Buying my house was step 2, as making timely payments is the best way to improve your score. Step 3 was securing another line of trade in order to show payment history on, for this, I chose my car.

As a result of my collection history, I am paying rather high interest rates on both of these loans. So step 4 is removing these items from my credit report.

I was amazed at how easily this can be done, and cheaply. I started by ordering my credit report (checking your own does not impact your score) by logging on to www.equifax.com.
Note: You can check your credit report for free at www.annualcreditreport.com Annually, by law, you are entitled to a copy of your credit report at no charge to you. At the time of writing, this law had not yet gone into effect in FL
Here I ordered my report and score for 14.50, and found 7 negative items. One of these was a valid debt for 1200 bucks that I did not and do not intend to pay. Taking the free online option, I disputed all of these items. My reasons: accounts did not belong to me. This launches an investigation, where the dispute is sent to the creditor. They have 30 days to verify, or remove the information. If they do not respond, it comes off of your report, and they cannot put it back on!

30 days later, I recieved a letter in the mail. 4 of 7 items were removed from my report, including the 1200 dollar debt! I couldnt believe it actually worked, so I checked my report again, and my score had gone up 50 points!

The crappy thing is, there are two other credit reporting agencies, www.transunion.com and www.experian.com that you must do this. Today I went to experian and disputed those same 7 negative items on my report. In 30-45 days, i will know the results of that investigation, which Im sure I will have similar results as I did with equifax. When that is done, I will do the same with trans union. Then I will return to equifax and try with those other 3 that are left.

I cant believe how easy this is and that I didnt do it sooner. I'll update this thread with my results from my disputes as I get them.

[Ender.]

:bigthumb:

[Vito_Corleone]

Wow, this is awesome info, thanks dude.

[JamesH]

once i get back on my feet i need to start getting my credit back in order. sucks though because i have a ton of medical crap that is posted as unpaid which has actually been paid for. the only other thing on there is an old insurance bill, and an unpaid credit card bill.

[s-type shawty]

yea i think i need to do that cause im $6,000 in debt with medical bills, & $1000 with my credit card and cell phone bill.

And no job to pay those bills yet. They just keep getting higher and hghger with late fees. My credit card bill is almost doubled with late fees.

It sucks. I dunno what to do cause they all want all the money like now and I dont have it.

[Fusion]

What a pain in the ass. Thank god I have no negative items on any 3 of my reports.

[kjd1231]

Very motivating post for anyone! It's true, a huge step in credit repair is disputing items. Good luck to you.

[number_2]

you're telling me you are disputing debt that was actually run up by you, and they're clearing it and removing it from your report?

[kjd1231]

you're telling me you are disputing debt that was actually run up by you, and they're clearing it and removing it from your report?


Yep. It can be done.

[number_2]

that works?!

:fucking incredulous:

i'll start running up debt right now if that's all it takes.

[_Chris_]

you're telling me you are disputing debt that was actually run up by you, and they're clearing it and removing it from your report?

yeah... but i wouldn't count on it, it would prob be difficult to get it removed from every bureau, + you take a huge chance if you plan to run it up to do that...

[Country Boy]

What a pain in the ass. Thank god I have no negative items on any 3 of my reports.


Same here, Im just HIGHLY over extended on credit :(

[Tackleberry]

hmm...interesting...i have about 20000 in credit debt with 2 repos...most of it is over 3 years old...i should be able to get a lot of it removed im guessing...im gonna try it!!

[John]

it is important to note that in order for it to be disputed and work, it pretty much has to be in collections already. Collection agencies do not always verify the disputes. However, the larger the debt, the more likely they are to verify the dispute. So going and ringing up a ton of debt just so you can have it removed is not a wise idea. On top of that, if all of your trade lines are bad, and lets say that you do remove them, its worse than having bad credit. Ideally you will only use this to get on your feet, and the best way to get better credit is to pay your bills on time. The longer you do this, pertaining to items such as mortgage, car payments, credit cards, or any other installment loans, the better. Whats interesting is you can be late every day for the rest of your life with things like your phone bill, electricity, mundane items like that - so long as it does not end up in collections, it will never impact your score.

[John]

and there is a downside to disputing - if it is verified, it pretty much resets the 7 year cycle. If you have a debt that is very old, you are taking a chance by disputing it. If it is over 5 years old, its probably in yoru best interest to leave it alone, and let it drop off.

[John]

you're telling me you are disputing debt that was actually run up by you, and they're clearing it and removing it from your report?

some of it, yes, were valid debts unpaid. Others were collection accounts which I had paid, and they had agreed to remove from my report, which they did not.

[Tackleberry]

well, most of mine are over 2 years, up to 3 years. and its mostly credit cards totalling up to 13000 or something like that...its like 13 bad items i think.

[Tackleberry]

also, arent you lying about them not being yours, and if caught, cant you be getting legal actions on you?

also, i may recommend moving this to the members section...

[John]

well, most of mine are over 2 years, up to 3 years. and its mostly credit cards totalling up to 13000 or something like that...its like 13 bad items i think.

are they in collections?

[Tackleberry]

oh yea. and i havent had the pleasure of being contaced by mail by too many of them either...some do, but not many at all

[Graves]

some of it, yes, were valid debts unpaid. Others were collection accounts which I had paid, and they had agreed to remove from my report, which they did not.


What happens to them after the 7 years or when they drop off? Cause most of the negative on mine is at least 5 years old and would love to see it go bye bye.

[John]

also, arent you lying about them not being yours, and if caught, cant you be getting legal actions on you?

all i am doing is disputing it. It is up to the collection agency to verify their disputes. Most times, they do not respond, and the neglegence on their part is what you are taking advantage of. There are no negative reprocussions to be had from this, other than them verifying the dispute, which resets the date its reported.

also, i may recommend moving this to the members section...

Why? This is completely and 100% legal. Some may argue it to be unethical, but there is nothing here that the general public is not supposed to know. Trust me, the collection agencies would LOVE for this information to never be known. :D

[John]

What happens to them after the 7 years or when they drop off? Cause most of the negative on mine is at least 5 years old and would love to see it go bye bye.

after 7 years, they no longer impact your score either way, but they might still be listed. Bankruptcies affect your score up to 10 years - not the wise way to go.

[Tackleberry]

Why? This is completely and 100% legal. Some may argue it to be unethical, but there is nothing here that the general public is not supposed to know. Trust me, the collection agencies would LOVE for this information to never be known. :D
well, true, just looking out lol

[Tackleberry]

after 7 years, they no longer impact your score either way, but they might still be listed. Bankruptcies affect your score up to 10 years - not the wise way to go.
but bankruptcy you can rebuild your credit like it dont exist. just your interest rates are affected for the most part if im not mistaken

[John]

oh yea. and i havent had the pleasure of being contaced by mail by too many of them either...some do, but not many at all

in your case i would give it a try, if they are rather lackadasical in their hunt for you to pay them, they are probably the same way with verifying disputes. I would try one Credit Reporting Agency and see what happens. If one works, the rest are likely to as well.

The absolute best time of year to do this is around Xmas time, when credit agencies are very busy.

[Tackleberry]

hmmm, interesting..ill wait til thanksgiving to start for the holiday season then.

[John]

but bankruptcy you can rebuild your credit like it dont exist. just your interest rates are affected for the most part if im not mistaken

but in most cases, you will have to pay for them as part of the bankruptcy, plus lawyer fees and so forth. This method you only pay for the credit report.

[grlracr]

He's actually right. I paid a company to do this for me (lazy and didn't have the time to do all the research). If I remember correctly, the company has 30 days to respond. If there is no response, they have to remove it from your report. That is why it's important to keep after them, waiting for them to drop the ball.

[John]

He's actually right. I paid a company to do this for me (lazy and didn't have the time to do all the research). If I remember correctly, the company has 30 days to respond. If there is no response, they have to remove it from your report. That is why it's important to keep after them, waiting for them to drop the ball.

and Im guessing this company charged you in the range of 300-500 correct? In theory, you could clean your entire report for 45 bucks by doing it yourself

[grlracr]

and Im guessing this company charged you in the range of 300-500 correct? In theory, you could clean your entire report for 45 bucks by doing it yourself

I know I know :lol: Like I said, I'm lazy.

[John]

did it work though? And how long did it take? Tell us a bit about yoru experience...

[number_2]

after 7 years, they no longer impact your score either way, but they might still be listed. Bankruptcies affect your score up to 10 years - not the wise way to go.

so you can spend money, charge it to your credit card, and not pay it for seven years, and after that the debt disappears? am i reading this correctly?

:wtf:

[cali]

so you can spend money, charge it to your credit card, and not pay it for seven years, and after that the debt disappears? am i reading this correctly?

:wtf:
yes, but I believe if they *make* contact with you and update the record it starts all over again.

[grlracr]

What it does is puts a fraud alert on your credit report. The company sends dispute letters to all accounts, including multiple addresses, multiple names (which bring down scores). As I got any updated credit reports or results, I faxed them to the company "World Wide Credit Restoration" and they analyzed it to determine if the information was properly removed. They bettered my beacon score for all 3 companies by quite a bit, but when my husband and I bought our house, our mortgage broker found a few things the company said were removed but were not.
It definitely worked, but like you said I probably could have done the same for a lot less money. I am now working on adding more positive credit with the house now that a majority of the crap is gone.

Oh, and it only took a few months to begin seeing results.

[number_2]

well that's pretty amazing. i wonder why there aren't more people out there defaulting on their debts.

[John]

well that's pretty amazing. i wonder why there aren't more people out there defaulting on their debts.

as i stated, if you dispute and it comes off, the whole thing comes off. A lack of trades is worse than bad credit. Secondly, most people do not know about this.

[Tom]

I started by ordering my credit report (checking your own does not impact your score)
that quote is false. checking your own score DOES adversely affect your score.
10% of the score is based on the number of inquiries on your report. If you've applied for a lot of credit cards or loans, you will have a lot of inquiries on your credit report. These are bad for your score because they indicate that you may be in some kind of financial trouble or may be taking on a lot of debt (even if you haven't used the cards or gotten the loans). The more recent these inquiries are, the worse for your credit score. FICO scores only count inquiries from the past year.
Don't let anyone make an inquiry on your credit report unless you absolutely have to. The more inquiries, the lower your score.
http://money.howstuffworks.com/credit-score.htm

Do not get me wrong, I am all for checking to IMPROVE, but checking OFTEN is bad, so make sure you have a valid reason to check before you do! Some people might've just been curious and your statement might've gotten them into somthing they didnt want

[number_2]

when you say trades, you mean loans, credit cards, all that stuff right?

[John]

that quote is false. checking your own score DOES adversely affect your score.


http://money.howstuffworks.com/credit-score.htm

Do not get me wrong, I am all for checking to IMPROVE, but checking OFTEN is bad, so make sure you have a valid reason to check before you do! Some people might've just been curious and your statement might've gotten them into somthing they didnt want

That is incorrect. There are two types of inquiries. A "hard" inquiry is one where you are inquiring through a credit agency. This counts as you applying for credit, and can negatively impact your score. However, CRA's do allow you to inquire several times in a certain period of time if you are trying to obtain credit without impacting your score very much. However, you should not do "hard' inquiries often.

Then there are "soft" inquiries. These are done ALL the time, by various institutions looking to solicit. You do not authorize these, they cannot be stopped easily, but they do not affect your score at all. When you pull your own score through the CRA (equifax, trans union, experian) not in an attempt to obtain credit, it does not negatively affect your score.

Now, the cool thing is, with certain websites, you can pull your credit report daily without impacting your score one bit, and can actually IMPROVE your score. This is known as bumpage. The CRA's have credit reports programmed to only hold so many inquiries, both "hard" and "soft". So, if you have enough soft inquiries, it will eventually fill up this quota, and eventually start bumping off the older ones - the hard ones included.

a GREAT website for those really interested in taking hold of their credit is www.artofcredit.com

[John]

when you say trades, you mean loans, credit cards, all that stuff right?

a line of trade is anything you applied and obtained credit for, any sort of installment loan or revolving line of credit.

[Tom]

ive been looking this up all afternoon, and ive heard conflicting reports from pretty much EVERYONE....its almost ridiculous lol

[John]

http://www.artofcredit.com/board/showthread.php?t=2201&highlight=inquiries

http://www.artofcredit.com/board/showthread.php?t=122&highlight=inquiries

two great threads on the subject from a website I learned pretty much the majority of what I know from. The rest I learned from someone that pretty much should know all the ways of collections - a collections agent :D

[_Charles_]

You want to know about credit scores? Check out http://www.myfico.com/CreditEducation/?fire=1

All Credit scores from ALL 3 Credit Agencies are FICO based scores....so why not goto the source.

Also, why pay $45? it's free once a year, 'duh! https://www.annualcreditreport.com/cra/index.jsp

Charles

[Tom]

yeah they passed a law to thwart identity thieves by letting you check it FREE once a year. So you have an idea of whats going on and to make sure nothing is out of whack.

and i wanted to check mine, but was worried that it would be a HARD inquiry, but its a SOFT one, so it wont hurt me right?

[John]

You want to know about credit scores? Check out http://www.myfico.com/CreditEducation/?fire=1

All Credit scores from ALL 3 Credit Agencies are FICO based scores....so why not goto the source.

Also, why pay $45? it's free once a year, 'duh! https://www.annualcreditreport.com/cra/index.jsp

Charles

Myfico gets its information from the CRA's

Why pay 45? B.c thats the only way you may currently do disputes online, through the CRA's. It costs approximately 15 dollars per CRA to do this. However, if you just want to view whats on there, sites such as privacygaurd and myfico are fine for just that.

[John]

yeah they passed a law to thwart identity thieves by letting you check it FREE once a year. So you have an idea of whats going on and to make sure nothing is out of whack.

and i wanted to check mine, but was worried that it would be a HARD inquiry, but its a SOFT one, so it wont hurt me right?

correct. If you pull through sites such as myfico, privacyguard, equifax, experian, transunion, it is a soft inquiry, and neither impacts your score, nor do creditors look at them.

[Big Chris]

I'm going to look into this a little more and do it for myself. Thanks for the info John.

[MDIFYTD]

There's alot of incorrect info in this post. I've been working on cleaning up my credit and my GF's for 6 months now. I recommend doing at least a couple of weeks or reading/research before anyone jumps into this. Here's a great website http://consumers.creditnet.com/Discussions/forumdisplay.php?s=&forumid=3 READ THE FAQ it will greatly help your understanding and get you nicely on your way!

[John]

good info there, but just curious as to what information was posted here that is incorrect or that you do not agree with?

[_Charles_]

good info there, but just curious as to what information was posted here that is incorrect or that you do not agree with?

MyFico.com is the site run by 'Fair Isaacs'. Fair Isaacs is the company that came up with the calculation for the 'FICO', or 'BEACON' score you are so concerned about. All I did was link you to a page that explained credit scoring FROM THE COMPANY THAT WROTE IT!

Also....you CAN dispute from the free credit reports that are now federally mandated, I know, becuase I did. It may not be as simple as when you pay $$$, but it is just as effective.

Charles

[MDIFYTD]

Mainly just the hard and soft inquiry stuff but you cleared that up with a quickness

[Jordan Y.]

I just tried the free credit report and at one of the three, they seem to have me confused with my dad who shares my name minus a suffix, at another I got my report (clean) but it turns out getting your FICO is not free, and at another all I got was "You cannot access your free credit report online." Now I need to make sure I'm not being confused with my dad, although I wouldn't mind the credit history of a financially responsible 50-year-old home owner. Talk about quick and easy approval for my first home and auto loans, haha.

[number_2]

yeah, that's one thing my dad told me: even when you get a free credit report from equifax and the like, you still have to pay for your score. but according to him, the score itself isn't all that important anyway...

[John]

its important if you want to track your progress

[MicheleR]

Thanks John, this has been a very informative thread for me.
Me and my Fiancee are getting married soon and want to buy a house. I have so-so credit he has very good credit. I have been wanting to get mine cleaned up for quite some time now but just thought that it would be very difficult or close to impossible.
I do have a few things on my credit now that have been there for about 7 years so I am hoping they will drop off, most of them were from my X-Husband and I refuse to pay them because he took the stuff that was purchased.

I am going to looki into the websites mentioned in this thread and see if I can get to work on this now!!

Michele

[93ex]

I ran my equifax one..and all came back gravy as far as I know... of course thats because they dont give you your actual number online... but I had one phone bill in collections that I paid off, but is still on there. I have proof I paid, so what do i do?

[Joann]

Ugh....I did the free credit report the other day. I have so many small things ($109 here, $125 there, etc.) I need to handle this shit.

[HerHotRod]

I had my identity stolen a few yrs back. They got my info from my health insurance comp. Someone working for BCBS was stealing info. Loooooong story short, they bought a $20,000 Jimmy, a $10,000 Explorer, (2) $300.00 ea. cell phones, opened a american express card (which I caught just before they were about to mail the card to them), and a Citibank credit card, all in my name, all of which went on my good credit. After about a yr they were caught. But only because they were wanted for grand theft auto of the purchase of the cars illegally. I only found out because the dealership called just after they had bought them and said I needed to come sign something. The dealership got my work number from my credit report which they noticed did not match what she put on the finance application.

So yes, check your credit reports. If it wasn't for that phone call they would have been long gone before I would have noticed all this. Most had not even posted on it yet. When I called all the agencies, they were able to tell me everything they had done, and I was able to work w/ the police to catch them.

[Joann]

Oh wow...I cannot imagine. TWO cars? Good heavens.

[John]

Ugh....I did the free credit report the other day. I have so many small things ($109 here, $125 there, etc.) I need to handle this shit.

I would contact each company that is on there and get them to remove it if you agree to pay it. Get an agreement in writing before you pay. This is if you feel the need to pay it. Otherwise you can try disputing it.

I ran my equifax one..and all came back gravy as far as I know... of course thats because they dont give you your actual number online... but I had one phone bill in collections that I paid off, but is still on there. I have proof I paid, so what do i do?


See what happens when you pay it? It stays on your report even afterwards, and remains a negative factor.

[Deus]

A credit report entry and the obligation to pay the debt are not the same thing. Although creditors can put a "black mark" on your credit, this does not necessarily help them collect on the debt. What a creditor can do is file a lawsuit and obtain a judgment against you. That judment can remain effective for up to twenty years, and next to bankruptcy, is the second most siginificant black mark you can have on your credit record. You simply will not get a house with a judgment in place. Further, the judgment is a public record and unlikely to be succesfully challenged unless it is invalid.

That being said, five years is generally the statute of limitations for a contractual debt. Any lawsuit brought after that is unlikely to succeed.

[MDIFYTD]

Good advice John! With little crap like that PFD(pay for deletion) is a great option. Try using this template:

I have some other letters if you guys need it or you can check out the link I posted yesterday.

Date:
Creditor Address
City, State, Zip


Re: Account Number


Dear Sirs:


This letter is an offer to amicably settle the above account. It is not to be construed as an acknowledgment of my liability for this debt in any form.


I will pay your company the amount of $____ as full settlement of this account.


If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $______ in exchange for a full deletion of all references regarding this account from my credit profile and full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement. Furthermore the debt will be deleted from my credit profile at all three credit bureaus or the bureaus your company regularly reports to in the course of doing business.


If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgment, I will promptly send you a money order or cashiers check in the amount stated above.


Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor has any concrete written agreements been exchanged.


Creditor’s Authorized Signature: _____________________________ Date:____________


STATE OF_________________
COUNTY OF ______________________

Personally appeared before me, ________________________ the undersigned, a Notary Public in and for said County and State, personally appeared_________________________, with whom I am personally acquainted (or proved to me on the basis of satisfactory evidence), and who upon oath acknowledged that himself/herself to be________________________ of so and so collection agency, the within named bargainor, and that he/she as such_______________________, being authorized to do so, executed the foregoing instrument for the purposes within executed within the instrument for the purposes therein contained, by signing the name of the company by himself/herself as _________________________.

Witness my hand and seal, at office in _______________ name of your state, this day of _______________ 2003.

_____________________________________ My commission expires: _____________________________
NOTARY PUBLIC

[John]

great post!

[Graves]

Started the process today. It's not looking pretty.

[John]

It takes awhile, but stick with it. The end result is worth the effort

[TotalChaos]

I started this same process today.

When your in the Equifax credit report, how do I dispute something on it??

[John]

I started this same process today.

When your in the Equifax credit report, how do I dispute something on it??

there should be a section labeled disputes or online disputes all over the place. Its pretty intuitive from there

[Rob.M]

It was mentioned earlier that if you dispute the debt and it is verified that the account is reaged, that in fact is not correct. An account can only be reaged when payment or agreement of payment is made on the account, short of that the aging is determined by the first month of the delinquency. Also, a word of advice from some one who worked in credit if you have a collection account and are contacted by a CA never speak to them on the phone, limit all communication to certified mail and always if threatened with with legal persuance send them a letter of debt verification. Also be keenly aware of your states SOL statues in regards to debts. In Florida the SOL is 4 years though some collection attorneys with try and argue before a judge that a cc is not a cc but a written contract which carries a 5 year sol...this is not accurate however and if versed in the sol statutes you can have the motion dismissed.

[John]

good info, thanks Rob!

[Rob.M]

One other word to the wise, to anyone who settled their debt at a discounted rate through a service like Consumer Consolidated Credit Counseling, or even through a CA...the remainder of the debt that was waived can then be sold to another CA... So, example if you had an initial debt of $1100 and with interest and penalties the debt was raised to $2200 and you settle for $900, there exist $1300 of debt that can be sold to another CA and there is not SOL on how many years they can try to get this. Most credible CA's will cease activity on an account over 5 years old but there are a plethora that will not. Its pretty screwy. The good news is that after 7 years and 3 months all information falls off the report, with the exception of judgements which are good for an initial 7 years and are renewable for another 7, allowing for 14 years a judgement may haunt you.

As I said before remember your state statute of limitation laws, and be familiar with the FDCPA which outlines the legal behavior of creditors and CA's. Knowing that will keep you out of court if you have some shady credit history and help put you on the road to credit recovery. Because, one thing I know having worked in credit there are some real douche bags that just dont pay bills, but the majority of the people who get them selves in trouble are good people who given the chance will straighten their reports out and become some of the most credit responsible individuals out there. The sad thing is so many places use credit scores as an indicator of personal worth now, Insurance Companies, potential employers etc... which is funny because that essentially falls under certain laws as illegal and profiling...but precedent has allowed it to be tolerated particularly post the Patriot Act. Personaly, my credit is no ones business save my own and and a lender I am applying to. Ok end of rant.

Oh, one final word. I worked in credit in HS doing DB7 investigations on write off accounts for JC Penny Credit, and then studied the credit laws for my Pre-Law BA @ USF where I learned much of the tricks in the industry. I had a few collection accounts when I was 19 (Thanks to my crazy ex) and through dilligence and understanding of the laws was able to repair my credit report..but it takes time. I'm now 24 and my scores have just hit the 700 mark.

[John]

bump

[The Latin Spice]

wow definitely really good reads on here

[king_johnthegreat]

GEEZ!! This is a dream come true, thanks, John! I'm gonna have to study up, because I've only had one credit card in my life, with a $500 limit. I hit the max and couldn't pay; it's been YEARS since I've done anything about it. I wonder if it is wise to disput this, or let it ride. With the interest, the debt is now over $1900!! For $500 lousy bucks... I also owe $1600 to USF for tuition in my last semester (2003), but couldn't pay. It isn't a student loan, either; I just owe the school. Both have been in collections for some time now. Just knowing what I have picked up from this thread, my thoughts of paying up are changed a bit to protect myself now! I guess I can't expect that if I give them what they want, they will just go away. Thanks for the insight, though!

John

[John]

your first step is to pull your credit report. Depending on how old they are it may be wise to just let them drop off. However, more than likely they will file for a judgement against you, which is WAY worse than anything a collection account would do your credit. I would try to make some sort of arrangement with the card company to stop charging you interest in exchange for you to pay it off.

[king_johnthegreat]

Makes sense. Well, I went and viewed my free credit report from the three already spoken of (provided by a link from a previous post). According to Experian, I have only two negative items in my report. One is the credit card and the other is appearently my old cell phone service provider. This was seconded by Equifax (the third report was not accessible for some reason). I guess I owe AT&T $186 from just before turning my account over to Cingular (They never sent me a damn thing, kinda strange). My credit card is listed as a closed account (charged off), revolving type, and the AT&T account is listed simply as past due. My negative account history says 1(?), and my inquiries in the last 12 months is only 1 (is that good?). The "date opened" on my credit card is 09/01. So, it hasn't been as long as I thought. The total they say I now owe is $2,178. Should I dispute this? It's less than four years old. The cell phone thing I can pay, no reason not to. The credit card stuff is rediculous. All that over $570 worth of actual purchases for college materials!

John

[king_johnthegreat]

I also forgot to mention that I have no idea why the USF past due tuition isn't on the reports. I know it is in collections, I have gotten letters from creditors about it. Same with two other things for $133 and $250. The USF thing is only two years old now, too.

John

[Dunecune442]

only problem with searching your credit is that it is pinged again. Credit reports are updated in cycles typically. Everytime you check it yourself however it is autmatically updated. So have your gameface on before you get "curious".

[Nikon]

I know a couple of years ago I didn't have a problem getting a cell phone, but this past fall when I signed up with Tmobile, they had to put me on a "special plan" because of my credit.

I was scared to see what it looked like, but after reading this thread, I ran it and it was as clean as you could get. It shows three loans I had a couple of years ago that I paid off and are in good standing, but other than that, jack shit.

I can only figure Tmobile wanted me on the special plan because the credit report shows my address from three years ago and nothing else on it, not even employment history. So my problem now is building up my credit.

Still sort of confused how I have a Visa and American Express in my name, with debt on them, and they're not listed on any of the credit reporting agency's reports I just pulled.

:dunno: :lol:

[Dunecune442]

How old are you? Are the loans large? Does your job pay decent/hourly pay?

If your young they are dicks. If you have alot of money loaned out (as in much more than you make yearly) they will be vary weary with you and If you are self employed they give you a hard time. They prefer someone that has a steady, consistant paying job as opposed to someone that has on and off years.

[John]

in that situation i would call your credit card company(s) and request that they report your credit status and history to the agencies. This would help your score a lot

[POLLO]

Also I wanted to add that most sites, at least equifax for additional cost can order all 3 reports also from TransUnion, and Experian along with the scores. I started doign some cleaning up myself since I thought my credit was close to perfect when it really it wasn't,. and im getting ready to make the big step here.

And they do mess up, all 2 out of 2 items in collection were not even mines.

[John]

Also I wanted to add that most sites, at least equifax for additional cost can order all 3 reports also from TransUnion, and Experian along with the scores. I started doign some cleaning up myself since I thought my credit was close to perfect when it really it wasn't,. and im getting ready to make the big step here.

And they do mess up, all 2 out of 2 items in collection were not even mines.

while you may order a credit report with all 3 CRA's listed, you can only dispute if you have specifically pulled a credit report from that CRA. Thats why I said it that way.

[POLLO]

while you may order a credit report with all 3 CRA's listed, you can only dispute if you have specifically pulled a credit report from that CRA. Thats why I said it that way.

True

Excuse me if my wealth got me full of mahself. :lol:


Peabodies Monday bish, its my B-day.

[John]

True

Excuse me if my wealth got me full of mahself. :lol:


Peabodies Monday bish, its my B-day.

i'm down like 4 flat tires

[Charles]

True

Peabodies Monday bish, its my B-day.

Happy early b-day..... I'm stuck at the factory Monday night, but I'll be around the TRview municipality most of the day on Monday... if boredom strikes send a shoutout

[John]

Update:

as mentioned in my first post, I ordered my Experian report, as I did with my Equifax report, and disputed all negative items on the report. There was a total of 5 on the report.

Of the five, one was a late car payment I made way back in 98. It was a shot in the dark, and was verified, so it remains. It is barely impacting my score.

Another was a collection account remaining from my first business, in which the collection agency was unwilling to bargain at all, or even accept a payment plan on. At last report, it was valued at 1800.00 after finance charges and late fees. It was removed. :D

Another was an ancient beeper account I had, which just won't go away, and I have TRIED to pay them, but I cannot reach the company. It was verified :(

The last two were collection accounts that I had paid, but they failed to update. Both of them were removed.

I will find out later today how much this improved my score. Before the disputes, it was a 594. If it follows the same pattern as Equifax, I can expect a gain of 25-40 points.

Next up is Trans Union. Third verse, same as the first.

The game continues....

[_Charles_]

JOhn, did you disoute on-line or use a form letter?

[John]

online. Its as simple as clicking the check mark next to the item you wish to dispute. You don't even have to give a reason on Experian! But you do have to obtain the report from the CRA that you are trying to dispute.

[_Charles_]

I must try this. I have one item that I would love to see dissapear

Charles

[Amortized]

I must try this. I have one item that I would love to see dissapear

Charles

ain't gonna work on the mortgage, lol.

[_Charles_]

ain't gonna work on the mortgage, lol.

Haha....nah. Mortgage is flawless. Damn Cell Phone bill was written off (of course, I paid it). Wouldn't mind it just dissapearing.

Charles

[John]

if it went to collections, the chances of it coming off are really good.

[Qborofinest24]

okay so i got a copy of my report from experian and i have 1 negative item its a 550 dollar tmobile bill, iam going to dispute this because i was only 16 when the account was activated. Now my question is, is it the amount of debt that was actually sent to collections that affects your score or is it just the fact that somthing got sent to collections that affects your score???

[Amortized]

okay so i got a copy of my report from experian and i have 1 negative item its a 550 dollar tmobile bill, iam going to dispute this because i was only 16 when the account was activated. Now my question is, is it the amount of debt that was actually sent to collections that affects your score or is it just the fact that somthing got sent to collections that affects your score???

you'll take a hit for it being a collections account, you'll also take a hit from the added debt, of course the higher the debt the worse the hit. When you pay it off, it will increase your score as you've settled your debt, it will also increase it because the total amount of debt has decreased. You'll still be negatively affected by the collection being on there, but at least you'll get some positive credit points for paying it off.

[Amortized]

if it went to collections, the chances of it coming off are really good.

yep, some collections agencies are really on top of things, while others are too busy dealing with other matters to look into the dispute, find the required documents (the burden is on the creditor/collections agency to prove you owe the debt) that prove it was your debt, and then submit the supporting documents to the reporting agencies. Often times there is just too many other things to do for them to look up, verify, and submit within the 30 day time frame.

[Qborofinest24]

yep, some collections agencies are really on top of things, while others are too busy dealing with other matters to look into the dispute, find the required documents (the burden is on the creditor/collections agency to prove you owe the debt) that prove it was your debt, and then submit the supporting documents to the reporting agencies. Often times there is just too many other things to do for them to look up, verify, and submit within the 30 day time frame.

thanx for the info i keeping my fingers crossed and i hope it just gets taken off of my report

[John]

if it doesnt come off the first time, keep trying, your chance are much better around busier times of the year, such as holidays.

[Qborofinest24]

if it doesnt come off the first time, keep trying, your chance are much better around busier times of the year, such as holidays.

okay cool now since i already disputed this with experian do i still have to order a report from the other two and dispute it with them also??

[moldyhands]

okay cool now since i already disputed this with experian do i still have to order a report from the other two and dispute it with them also??
yes, if they also show it. credit reporting agencies suck ass and in my opinion should be gov't regulated.

[Amortized]

yes, if they also show it. credit reporting agencies suck ass and in my opinion should be gov't regulated.

I don't agree that they should be regulated by the gov., however I do feel some sort of change needs to take place to greatly improve their accuracy and efficiency. The bureaus have so many damn errors on the reports, can be slow to update, and have kept the biggest secret a secret for a long time (The algorithim that computes the scores). I feel if the gov. ended up involved, the bureaus would be negatively impacted by the bureaucracies imposed by the goverment. They've done a fine job running and managing themselves this long, in my opinion, the gov. would only make it worse. But yes, I'm a proponent to reform the credit bureaus. Maybe I'll just start my own.

[Qborofinest24]

yes, if they also show it. credit reporting agencies suck ass and in my opinion should be gov't regulated.

Thanx

[_Charles_]

yes, if they also show it. credit reporting agencies suck ass and in my opinion should be gov't regulated.

Ummm...they ARE government regulated. Do you mean "Government Controlled"?

Charles

[Ralph]

Quick question for the credit guru's. I've been haggling with a semi-old Captial One account that has recently(3-4 months)been sold off to the infamous Vanrue Credit Burea. I was offered to settle the account for %50 of my total debt(which includes fees/interest/etc). I specifcally asked that if I payed the settlement amount, would the remaining/waived amount be sold to another CA. They stated no, and that once I made the payment and it cleared they would email/fax/mail me a letter stating my obligation to capital one would be settled with Vanrue and Capital One and that Captial one would also update my credit file showing a settled amount. Does this seems accurate?

Other question is, I asked the collector(who actually was pretty nice and not a spank like most of them) what the difference as far as points and such was from paying the settlement amount or the full balance. She told me that if you paid off the full balance you wouldn't loose the 35 points off of your score. Can anyone verify or add to this? I would assume that once I got it out of collections, it would no longer have a ongoing negative due to be out of collections. I know it wont be totally erased off my file, just out of collections which i assume is good and the step in the right direction..or is the benefit worth it paying it off in full?

[John]

Quick question for the credit guru's. I've been haggling with a semi-old Captial One account that has recently(3-4 months)been sold off to the infamous Vanrue Credit Burea. I was offered to settle the account for %50 of my total debt(which includes fees/interest/etc). I specifcally asked that if I payed the settlement amount, would the remaining/waived amount be sold to another CA. They stated no, and that once I made the payment and it cleared they would email/fax/mail me a letter stating my obligation to capital one would be settled with Vanrue and Capital One and that Captial one would also update my credit file showing a settled amount. Does this seems accurate?

Other question is, I asked the collector(who actually was pretty nice and not a spank like most of them) what the difference as far as points and such was from paying the settlement amount or the full balance. She told me that if you paid off the full balance you wouldn't loose the 35 points off of your score. Can anyone verify or add to this? I would assume that once I got it out of collections, it would no longer have a ongoing negative due to be out of collections. I know it wont be totally erased off my file, just out of collections which i assume is good and the step in the right direction..or is the benefit worth it paying it off in full?

35 points is a huge amount, and depending on your credit history, I'd say its more than that.

First thing you need to do is quit talking to them via phone. They will promise you the world and give you nothing, just to get paid. They can do this because you have no proof to hold them to it. Any transmition with them should be done via certified mail.

Secondly, if you search through this thread, you will find a settlement letter. I would read it and use it. You should offer (via certified mail) to pay the debt in full in exchange for them removing any reference of the debt ever existing from your credit file with all 3 agencies. If you take the 50% option, it will show as account settled, but still show it was in collections, and that will negatively affect your credit for 7 years. Thats a long time.

[Ralph]

Thanks for the advice John. I read the letter but I wasnt sure what the next step would be if they reject the offer. And does the letter need to go to the the original creditor and the collector or one or the other?

[John]

the letter would go to the collection agency, the debt belongs to them now, not the original lender. They will most likely settle on your offer, this is what a lot of those "credit repair agencies" do for you, only you have to pay them 300-500 bucks plus the amount of the debt! :)

[Ralph]

Ok I think I understand a bit more. To clairfy Im not using a credit repair agency, rathering Im dealing with the actual Collection Agency who know "owns" my account. What Im a bit confused on is that I was told(ducks and hides)that only in the state of California can anything come completly off your credit report and the letter we have here wouldnt hold up. NOW, Im assuming that someone has used this and has had an entire account and all of its records removed? Reason I ask is that this partiucally agency is telling me that I can have an agreement emailed or faxed to me within 24 hours and either way, this letter we have here or their letter its going to stick for 7 years. Only difference is that if I pay off the balance in full, it shows that on my credit report AND at least the 35 points comes off. Any advice?

[Joann]

I have a question...I have 2 Capital One accounts...one is in collections with a $500 balance...the other has a $1200 balance. They were written off to Allied Interstate Collection Services.

Here's a little history...I had my cell phone number listed as 629 5656 with Capital One. When I stopped paying on the cards (stupid me) Capital One started calling me probably 6 times a day (3 times a day, each card). I changed my cell # to 493 5656 (I work for ALLTEL, easily done). SO...a few months ago, I rented a dolly to tow a shell from UHaul. The next day, I see this 1800 number call my cell..I answer it...they identified themselves as Allied Interstate, and asked if I was Joann. I thought is was a courtesy call from Uhaul or something...I said yes, I'm Joann. They told me they were calling about my delinquent balances with Capital One. I told them they couldn't call this cell phone number, I never gave it to Capital One, or to them. Nor did I ever call them from this cell phone number....they obviously found it through skiptracing.

That day, I told them I'D call THEM back to maybe work out a settlement amount. Then I hung up. They called me back 34 times within 2 days. Not kidding, I have the cell bills to show it.

Since I didn't give them my contact number, and I'd consider 34 calls in 2 days pretty much harassment...can I do anything about this??

[Ralph]

From what an actual credit agency told me is that a credit/collection
agency can not call you more than one time a day. It is against some
law and you could press charges against any agency in the US for
breaking this law. Not sure what the law was called but it started
with an F(hah, not much to go with). I told her that someone that was
working where she was called me 10 times a few saturdays ago and she
said the it was not only against their policy but against the law.

[Joann]

I thought it would have something to do with the FCC regulations. When I told them they cannot call my cellphone any longer because this uses minutes...she told me I was wrong.

God I hate Allied Interestate.

[Ralph]

They will tell you anything they want, from my experience creditors dont play by the "rules". Im looking more into it everyday.

[John]

I thought it would have something to do with the FCC regulations. When I told them they cannot call my cellphone any longer because this uses minutes...she told me I was wrong.

God I hate Allied Interestate.

They are allowed to call your cell, that law was changed with the number portability. The rules on cell phones are now the same as any other type of number. However they are not allowed to call you more than once a day, that is a violation. You should see a lawyer about it. My friend did something similar and is getting about 10k out of them for it.

[Ralph]

Christ 10k, the same focker that keeps calling me after I spoke to him once just called me 4 times in less than 2 minutes. 10 times last saturday...wheres consumer reporter whats his face..lol.

[John]

Ok I think I understand a bit more. To clairfy Im not using a credit repair agency, rathering Im dealing with the actual Collection Agency who know "owns" my account. What Im a bit confused on is that I was told(ducks and hides)that only in the state of California can anything come completly off your credit report and the letter we have here wouldnt hold up.

Yeap, they lied to you. Because debts transcend state boundaries, states do not have jurisdiction on these sort of matters. It is federal law, and yes, they do have the ability to do it.

NOW, Im assuming that someone has used this and has had an entire account and all of its records removed? Reason I ask is that this partiucally agency is telling me that I can have an agreement emailed or faxed to me within 24 hours and either way, this letter we have here or their letter its going to stick for 7 years. Only difference is that if I pay off the balance in full, it shows that on my credit report AND at least the 35 points comes off. Any advice?

Credit wise, you are actually better NOT paying it off in the short term, paying it off will close the account and thats a negative as well. So you have a closed account and an account in collections - see how that works?

You need to change your tactics - stop talking with them on the phone! Next time they call you, tell them you refuse to speak with them via phone, and will only communicate with them via certified/registered mail. Trust me, send the letter and see what happens. If they do not respond, send it again. If that doesnt work, there are other methods you can use which will force them to respond, but this is the easiest method.

[beth94]

John, I taught you well. I'm glad it's working for you. BUT, disputing something and having it come back verified does not reset the reporting date. The reporting date is only reset by a DOLA (Date of Last Activity). An inquiry as to the nature of the debt is not considered activity. To reset the DOLA, it would have to be a payment (even a penny payment), or something like that. Actual "Account Activity".

[John]

John, I taught you well. I'm glad it's working for you. BUT, disputing something and having it come back verified does not reset the reporting date. The reporting date is only reset by a DOLA (Date of Last Activity). An inquiry as to the nature of the debt is not considered activity. To reset the DOLA, it would have to be a payment (even a penny payment), or something like that. Actual "Account Activity".

yes you are correct, somebody else posted that up earlier, but it bears mentioning again.

[beth94]

Wink at me, John. I only have 1 wink (and not from you!) and 1 friend, damnit. You told me to come here and now I feel all sad. :(

I may have to jump back on the credit repair train here pretty soon... especially if we get declined for this apartment we're trying to get in to. So far I've only messed with EQ, and if anyone needed further validation that it DOES work, it does. I raised my score A LOT by disputing things that I knew the collection agencies would either be too busy to verify, or not able to verify because they were "no-doc" loans (like credit cards).

Thank god for the Fair Credit Reporting Act and the Fair Debt Collections Practices Act. That's where these laws are, if anyone cares. I'm too lazy right now to read thru the entire thread and see if that's already been mentioned.

[beth94]

Joann --->

They can actually call every 10 minutes between 8am and 9pm if they want to. The key is, they can only make contact once per day. Contact is if they leave a message or if they actually ID themselves to someone who answers the phone. Write them a "Cease and Desist" letter if you want them to stop calling. That's about the only thing that works, really, besides filing BK.

And send the letter via certified mail! You might need proof of it if they call again.. it'll be $1000 in your pocket if they call after receipt of that letter.

[beth94]

Joann Again ---

I just reread your post. Capital One is not a collection agency, therefore they are not bound by the laws of the FDCPA. That's only for collection agencies. Cap 1 is collecting on debt that they originated. So, they can basically do whatever they want.

However, a lot of places - Cap1 included - choose to incorporate certain parts of the FDCPA into their own company policies. I worked at Cap1 so I know they did. They don't call before 8am or after 9pm, and they only make contact once a day. The big difference here is that they DON'T have to obey a cease and desist order. They may choose to, but there's no law saying they HAVE to.

[John]

Good info

BTW, for anyone wondering, Beth used to be one of those nasty bill collector type people, she's where I got the majority of my info from

[beth94]

Yes, I was one of "those" people. :) And at the same time, I had some baddies on my credit report. How hypocritial of me, eh? Oh well.

[Ralph]

I've become best friends with the Fair Credit Reporting Act and the Fair Debt Collections Practices Act recently. It seems that inaccuracy is one of the toughest things to verify when disputing your credit file, especially if it has a long history date or inactive date. Im starting to learn that after a certain amount of time and attempts, credit bureas and collection agencies/creditors dont want/have the time money to verify-investigate everything on your file after your first attempt to dispute. Off with the negatives!

[beth94]

Yep yep yep! And while some people (especially the agencies) think this is unfair, the FDCPA requires them to be able to verify the information if they are asked to do so. I don't think that asking them to verify a debt that you KNOW is valid is taking advantage or being dishonest at all!!!!!! It's their JOB. It's the very nature of their business. And if they can't verify it, they either need to get out of the junk debt buying business or get their shit together.

[beth94]

Ralph -- I just read your post about the 35 points. Where in the hell did the collector get her numbers from???!!! I was a collector for YEARS and we didn't have those capabilities at any of the places I worked for. I think she was blowing smoke up your ass, to be honest with you. As a matter of fact, I think the FDCPA has a clause in it that says collectors aren't allowed to act like credit counselors. You might have a violation there.

[Joann]

Joann Again ---

I just reread your post. Capital One is not a collection agency, therefore they are not bound by the laws of the FDCPA. That's only for collection agencies. Cap 1 is collecting on debt that they originated. So, they can basically do whatever they want.

However, a lot of places - Cap1 included - choose to incorporate certain parts of the FDCPA into their own company policies. I worked at Cap1 so I know they did. They don't call before 8am or after 9pm, and they only make contact once a day. The big difference here is that they DON'T have to obey a cease and desist order. They may choose to, but there's no law saying they HAVE to.


Capital One is not calling me...Allied Interstate (the collections agency) is calling me. Or is Allied Interstate Capital One's collection department going by a different name?

[Ralph]

Ralph -- I just read your post about the 35 points. Where in the hell did the collector get her numbers from???!!! I was a collector for YEARS and we didn't have those capabilities at any of the places I worked for. I think she was blowing smoke up your ass, to be honest with you. As a matter of fact, I think the FDCPA has a clause in it that says collectors aren't allowed to act like credit counselors. You might have a violation there.

Your right beth, as per Johns advice I havnet and wont speak to another one(only one at the moment)ever again. I've had my noise in the laws pertaining to credit and rights and are starting to really see what I can legally do. I can honestly say that I never would of thought the Government would actually make creditors/collectors prove your at fault instead of vice versus. I was expecting the law to state that I would have to prove the innaccuracies(sp) and such. Now, these fockers are going to have to do another investigation and prove to me that theres not one incorrect date, name, amount, anything on any of my accounts AND provide it to me in writing within a resonable amount of time. On top of that, I'l be waiting for things such as my original signatures to verfiy every single transaction i've made on any account not related to internet/phone purchases. And after that is done, I'll hammer down on the misleading laws.

[Ralph]

Also, she was blowing smoke up my ass, and theres a few violations regarding my personal experience so far. I just wanted to pay off some debt, but now it seems the more Im learning, i'm taking the right steps to get much more than that.

[beth94]

Joann - I think Allied is a 3rd party agency. I didn't do credit card collections @ Cap1, I did vehicle loans, so I can't say for sure.

[JamesH]

Just wanted to bring this back up because I think theres good info in here for anyone whos looking to fix their credit and dispute things.

I just started disputing 13 different items that show in collections. All of these items shouldnt even be on my credit, they are all medical and should have been payed when I was approved fr SSD like the rest of my medical bills were.

Hopefully I can get my credit good but if things dont turn out I think I might try to find a place that can assist me with getting all the medical off of my credit because they all failed to re-submit the bills to SSD after I was approved before sending them to collections.

[John]

keep us updated on how that goes for you James. Keep in mind, I had to dispute somethings 2-3 times to get them off my report. My success rate seems to go up towards the holidays and the end of the month

[Amortized]

making this a stinky

[JamesH]

keep us updated on how that goes for you James. Keep in mind, I had to dispute somethings 2-3 times to get them off my report. My success rate seems to go up towards the holidays and the end of the month

Yea I figured it's a process thats going to take a little time, but if it means better credit then I am in for the process.

Ive only disputed with one of the sites so far and once I see what happens with those is when I will decide if i want to dispute them on the other sites or find a place to help me with removing them because of the reason they are on there.

[sirt8669]

I pulled mine not to long ago and noticed some crazy shit. I had one loan on there that was listed 2x and saying that I owed them $1205 and $1204, but yet it was the same account #. I disputed that one over the phone with EQ. In a few days I am gonna pay for the option so that I can start disputing items. I have a few on there that are 0 balance and I payed them and they show that I have a credit limit of $1500 but are in the negative.

Oh and everything on my credit is charged off, is this gonna make my chances better to have them removed? I actually have only 1 open account from last year, but will try the dispute method on this $142 Verizon account.

[Si-Ninja-Punk]

just tried my luck... will post with updates...

[sirt8669]

.......

[02flstang]

anyone have any progress reports on this? I submitted mine to two of the 3 lastnight but couldn't find transunions dispute forms online anywhere.

[sirt8669]

You will have to call Transunion. I did mine but for some reason Equifax didn't dispute all of my items. Also, I disputed Transunion and Experian and they deleted a lot of the items but it did not make my credit score go up at all. Also, I noticed that just about everywhere I have been, no one uses those 2, everyone uses Equifax. And one of the items Equifax removed from mine was a repo!

[Spelunking]

anyone have any progress reports on this? I submitted mine to two of the 3 lastnight but couldn't find transunions dispute forms online anywhere.

Truecredit.com

I use this as my credit monitoring, it lets you dispute items online. I actually had some account for $2600 show up on my credit last month, I disputed it, and it was off in about 10 days.

[Strangeholliday]

You will have to call Transunion. I did mine but for some reason Equifax didn't dispute all of my items. Also, I disputed Transunion and Experian and they deleted a lot of the items but it did not make my credit score go up at all. Also, I noticed that just about everywhere I have been, no one uses those 2, everyone uses Equifax. And one of the items Equifax removed from mine was a repo!

most businesses use different creditors per their geographical location. Equifax I believe is in atlanta, So most southern states, as well as florida will use equifax because thats who they report debts to.

but if you guys are trying to get a home mortgage they pull all three..

[John]

but they often throw out the high and low scores, so having one with stuff on it still is better than 3

[sirt8669]

I still have a good deal of crap on mine and hope that I can get rid of it. Some of the items that I disputed were updated also and now won't be removed till 2013 or 2014, that sucks cause before I disputed, they were already 4-5 years old. I didn't think they could do that?

[The Latin Spice]

i just submitted a dispute for a few items on experian. i didnt get charged for it though? I went thru the freeanual report website.

[02flstang]

I disputed all items on the 19th..got a notification from transunion saying that there has been an update. I put in a claim for one of my credit cards that it was incorrect status..well they updated it to show as current...raised my score 23 points. waiting to hear if I get any of the negatives to fall off

[Jessica]

Joann --->

They can actually call every 10 minutes between 8am and 9pm if they want to. The key is, they can only make contact once per day. Contact is if they leave a message or if they actually ID themselves to someone who answers the phone. Write them a "Cease and Desist" letter if you want them to stop calling. That's about the only thing that works, really, besides filing BK.

And send the letter via certified mail! You might need proof of it if they call again.. it'll be $1000 in your pocket if they call after receipt of that letter.

she's right my mom used to work for a collection agency and she said the same thing however the trick is 16 seconds if they call and you pick up and don't say anything for 16 seconds they can't call you back for the rest of the day tahts why if you hang up before 16 seconds they call you back over and over again and also they try to be smart and hang up around 14-15 seconds so they can call you back

[sirt8669]

I disputed all items on the 19th..got a notification from transunion saying that there has been an update. I put in a claim for one of my credit cards that it was incorrect status..well they updated it to show as current...raised my score 23 points. waiting to hear if I get any of the negatives to fall off


This is what I don't understand. I had a bunch of items removed from Experian and Transunion but my score didn't change at all? Does it take more time or something? I did this dispute a few months ago and never saw any changes. Not sure how you did? I mean I had 9 of 13 items removed from Experian and 5 of 8 removed from Transunion. I only had 2 items removed from Equifax but that was because at that time, those were the only 2 I disputed.

[02flstang]

This is what I don't understand. I had a bunch of items removed from Experian and Transunion but my score didn't change at all? Does it take more time or something? I did this dispute a few months ago and never saw any changes. Not sure how you did? I mean I had 9 of 13 items removed from Experian and 5 of 8 removed from Transunion. I only had 2 items removed from Equifax but that was because at that time, those were the only 2 I disputed.

maybe because mine (the one that updated) was an open line of credit and not a collection? not sure if that would make a difference or not...

[Spelunking]

It all depends on what's been taken off, as well as what's left on your credit. If you take everything off, and have no open lines of credit, it's not going to help.

[Strangeholliday]

Also Most credit reporting agencies by law have to investigate and " decide" in like a 30 day window.. So Alot of these credit repair agencies are just disputing every single thing on your report.. basically Making your creditor's work file for you Overload and for the time being the stuff that they couldn't get to. they have to take it off.. But when they finally do get to it, that shit goes right back on and then All your creditors now know your information again and expect your phone to ring off the hook.

for hte people that have alot of shit on their reports. I got this information from a county credit repair counselor that does seminars and teaches classes on credit repair. He speaks out against credit repair agencies saying they're " illegal " and urges people not to use them.

one way i have seen people start raising their scores is buying tradelines from all these new online companies. I have seen people get burned very badly from this and I have seen people's scores raise 80 pts. .

As far as I know its not illegal as of now. but I read somethign about a month ago that said they are working on someway to make this illegal.

[02flstang]

Also Most credit reporting agencies by law have to investigate and " decide" in like a 30 day window.. So Alot of these credit repair agencies are just disputing every single thing on your report.. basically Making your creditor's work file for you Overload and for the time being the stuff that they couldn't get to. they have to take it off.. But when they finally do get to it, that shit goes right back on and then All your creditors now know your information again and expect your phone to ring off the hook.



huh? can anyone who has had things removed confirm or deny this? this doesn't sound right.

[Spelunking]

huh? can anyone who has had things removed confirm or deny this? this doesn't sound right.

If something gets removed, but then is confirmed, they can add it back on you just have to be notified by the CRA. I don't see it happening all that much, usually if they can't confirm it to begin with, than they aren't going to spend the time to find it later. However that's my opinion, and may be wrong.

[John]

you are incorrect. Once you send a dispute, its handled via computer, and the dispute is sent to the creditor in question. If the creditor does not respond in 30 days, their window of opportunity has closed. It cannot go back on past the 30 days

[Spelunking]

I did mine through TrueCredit, they have a disclaimer that says it can be added back on if they receive a confirmation, but I must be advised by the CRA that they added it back on. I don't know if that's within the 30 days, but that's what it says. When I disputed the two items that were somehow on mine, they both were taken off in less than 10 days, so maybe they mean if they get something back in teh next 20 I don't know, but that's what it says.

[Strangeholliday]

You do realize that you can dispute these items yourself right ? as long as you have the time to write up a few letters you can do the same thing your credit repair company is doing..

[Spelunking]

truecredit is not a credit repair co, it's a credit "monitoring" company. It basically just pulls all 3 reports and scores onto one screen, so you don't have to keep going everywhere else. I think I pay $14 a month for unlimited credit reports and scores. So instead of pulling the report every month at $30+ a month for all 3, I pay $14/month for unlimited access. Works for me.

[sirt8669]

truecredit is not a credit repair co, it's a credit "monitoring" company. It basically just pulls all 3 reports and scores onto one screen, so you don't have to keep going everywhere else. I think I pay $14 a month for unlimited credit reports and scores. So instead of pulling the report every month at $30+ a month for all 3, I pay $14/month for unlimited access. Works for me.

And this includes being able to dispute items also?

[Spelunking]

Absolutely. It provides the link to the CRA's site, all you do is enter your login info for truecredit, and it let's you right in, and does not charge.

[sirt8669]

I am signing up for that tomorrow! Cool, thanks.

[MianoSM]

What exactly are you guys disputing?

Are you disputing valid negative items on yoru credit report? I have some late payments on mine I wouldn't mind disputing - but honestly I was late. :dunno:

[02flstang]

check out creditnet.com tons of helpful info. be sure you read a lot before you start doing anything. hopefully me disputing everything at once won't screew me over..I realize now I shouldn't have done that.

[John]

What exactly are you guys disputing?

Are you disputing valid negative items on yoru credit report? I have some late payments on mine I wouldn't mind disputing - but honestly I was late. :dunno:

I personally had a few valid, negative items removed by disputing.

[MianoSM]

I personally had a few valid, negative items removed by disputing.

I don't understand what you dispute if it is a valid negative mark though...?

You just say no, they are wrong, I was never late?

[John]

if you go through the process, it gives you options for why you are disputing the item. I just claimed them as "not mine"

[02flstang]

well i got an email notice from transunion this morning that my dispute status has been updated. so i logged on to view. 4 of the 6 items were deleted including a school loan that was scheduled to fall off in may of 07 anyway but it was 8k so that helps. my score hasn't changed yet when viewing at truecredit but I imagine it should update this week.

[sirt8669]

well i got an email notice from transunion this morning that my dispute status has been updated. so i logged on to view. 4 of the 6 items were deleted including a school loan that was scheduled to fall off in may of 07 anyway but it was 8k so that helps. my score hasn't changed yet when viewing at truecredit but I imagine it should update this week.


When I disputed the items, my score never changed when they were deleted. I had several items come off but no change in my score, so good luck. I am paying off the rest of the items, well not in full but working a deal with the creditors to get them listed as payed off so that way it looks better on my credit and that will bring my score up.

[02flstang]

When I disputed the items, my score never changed when they were deleted. I had several items come off but no change in my score, so good luck. I am paying off the rest of the items, well not in full but working a deal with the creditors to get them listed as payed off so that way it looks better on my credit and that will bring my score up.

why not do a pay for delete letter? in other words agree to pay them x amount only if they remove the entry entirely. a paid or settled collection account is still a negative entry.

[Spelunking]

When I disputed the items, my score never changed when they were deleted. I had several items come off but no change in my score, so good luck. I am paying off the rest of the items, well not in full but working a deal with the creditors to get them listed as payed off so that way it looks better on my credit and that will bring my score up.

When the two items I disputed were taken off (valid reasons) my score jumped up 50+ points. If you negotiate payment, they can sell off the difference between what you owed, and what you settled for, to another collection agency, or so I've read.

[sirt8669]

So, what is the best route to take?? Should I keep disputing?

[Spelunking]

I probably would keep disputing. I think other people on here would know what would be the better choice, so I will differ to them

[Scott]

So, what is the best route to take?? Should I keep disputing?



Yep keep disputing.

If the vendor / creditor does not reply in 30 days or less they have to remove the info at your request. I cleared a lot of items off years ago doing it this way.

[John]

yeap, it took me 9 months and 5 tries to clear off 7 negative items.

[sirt8669]

yeap, it took me 9 months and 5 tries to clear off 7 negative items.


I just signed up with truecredit.com and I am gonna keep disputing the items and go from there. Thanks.

[02flstang]

just found out today one of the ca's re-aged an old debt. they have been fined the largest amount in us history for previous violations so looks like they haven't learned their lesson and I will have to report them again.

[Tackleberry]

i just filed for bankruptcy, there is too muchon there to even try to dispute for me at this point. about 90 more days and im done!

[sirt8669]

I have only a few items left on mine so I hope that it ends soon. Is re-agin old debt the same as updating items that were old? I have items that were gonna come off soon but when I disputed them they were updated and now not coming off for another 7 years.

[Tackleberry]

I have only a few items left on mine so I hope that it ends soon. Is re-agin old debt the same as updating items that were old? I have items that were gonna come off soon but when I disputed them they were updated and now not coming off for another 7 years.

if im not mistaken, its 7 years from last update/payment/collection attempt. i know if you live in nevada, statute of limitations for collections is 7 years. after 7 years they cant touch you to collect. florida, sorry not sure lol.

[02flstang]

I have only a few items left on mine so I hope that it ends soon. Is re-agin old debt the same as updating items that were old? I have items that were gonna come off soon but when I disputed them they were updated and now not coming off for another 7 years.

it's supposed to be 7 years after the last time you defaulted. for example, you made your last payment 6/01 you became late 7/01...7/01 is the date the clock starts. they can't change the date if they sell it off or if they contact you etc.

[Spelunking]

I have only a few items left on mine so I hope that it ends soon. Is re-agin old debt the same as updating items that were old? I have items that were gonna come off soon but when I disputed them they were updated and now not coming off for another 7 years.

I'm almost positive that they can not re-age the account based solely on you disputing it. I think John would know more however.

[sirt8669]

I am gonna have to look into this a little more then. Thanks for the info guys!

[sirt8669]

Well, I have been trying to dispute the items on my credit from Truecredit.com but it won't let me, I still have to do the same crap as last time and call them and on top of that there is no way to dispute Equifax through Truecredit.

[John]

I could have told you that. You have to go through each creditor individually, or at least I did when doing mine.

[02flstang]

Well, I have been trying to dispute the items on my credit from Truecredit.com but it won't let me, I still have to do the same crap as last time and call them and on top of that there is no way to dispute Equifax through Truecredit.


truecredit is for monitoring purposes mostly. they do provide links to experian and equifax where you can dispute online. in most cases you need to have a recent credit report from them though so i'd order one thru annualcreditreport.com

[Spelunking]

I have truecredit, and have all 3 pulled every month with scores. It's true you can not dispute right on truecredit's website, but if you click the link, and type in your truecredit log in info, you will be able to obtain a new report and dispute for free. IMO it's worth the monthly $15 fee, all three reports and scores, and the ability to dispute, is better than $45 to get all the reports and dispute.

[02flstang]

I have truecredit, and have all 3 pulled every month with scores. It's true you can not dispute right on truecredit's website, but if you click the link, and type in your truecredit log in info, you will be able to obtain a new report and dispute for free. IMO it's worth the monthly $15 fee, all three reports and scores, and the ability to dispute, is better than $45 to get all the reports and dispute.

well you are entitled to 1 free one once per year..that's why I mentioned annualcreditreport.com

[Spelunking]

To me, once a year is not nearly enough checking. But that's me.

[sirt8669]

truecredit is for monitoring purposes mostly. they do provide links to experian and equifax where you can dispute online. in most cases you need to have a recent credit report from them though so i'd order one thru annualcreditreport.com

I know that they have the links to dispute and I have recent credit reports but it keeps kicking me back and telling me that I have to call so thats what I have been doing. I think that I might just start paying them to get them off and working deals with the creditors. Now would it be wiser for me to call the original company or the collection agency to work the deal?

[02flstang]

I know that they have the links to dispute and I have recent credit reports but it keeps kicking me back and telling me that I have to call so thats what I have been doing. I think that I might just start paying them to get them off and working deals with the creditors. Now would it be wiser for me to call the original company or the collection agency to work the deal?

what i've read at creditnet.com everyone there suggest never dealing with the collection agencies if you can help it.

[John]

I know that they have the links to dispute and I have recent credit reports but it keeps kicking me back and telling me that I have to call so thats what I have been doing. I think that I might just start paying them to get them off and working deals with the creditors. Now would it be wiser for me to call the original company or the collection agency to work the deal?

1. You need to learn to be patient. It took me 9 months to clean up my report

2. The only reason you would speak to a collection agency is if they agree to send a "pay for deletion" letter. This letter would be notarized and sent to you stating they will agree to remove ANY reference from your credit report if you pay the debt. This is the most beneficial thing they can do for you, and as such, they rarely agree to do it. Its important to know that collection agencies will tell you ANYTHING you want to hear for you to pay them. Do not trust them. Only agree to things if they agree to send you a letter that is notarized and states their intention. Then, wait for the letter before doing anything.

[sirt8669]

Oh, no, I am not in a real hurry. Thanks for the advice. I am still disputing and still considering trying to get them removed any which way I can. I hope that I can get this crap cleared up within this year.

[John]

oh and to answer your question, you can TRY working with the original creditor but more than likely they won't be able to help you, since the majority of the time they sell the debt to the collection agencies. Once they do this, they have no right to the debt, since they have been paid (normally at a substantial loss) by the collection agency.

[...mikey]

I just had a charge off, what Johns talking about above.

But I have no remote idea who bought it, so I can't pay it.

It's been 2 months so far, no letters.

[02flstang]

I just had a charge off, what Johns talking about above.

But I have no remote idea who bought it, so I can't pay it.

It's been 2 months so far, no letters.

have you pulled a credit report lately? if so does it show on there?

[sirt8669]

I just had a charge off, what Johns talking about above.

But I have no remote idea who bought it, so I can't pay it.

It's been 2 months so far, no letters.

Usually once its charged off the account has been delinquent for quite sometime and should be on your credit report, if its not, keep your eye on your report and hope they don't report it.

[...mikey]

I use MyFico and I got a phone text that my score changed.. it went up 10 points. The new creditor/agency hasn't shown up yet.

And yeah, I hadn't paid that CC for about 6 months.

[sirt8669]

Anyone ever get a Cancellation Of Debt? I just got one in the mail from the largest debt that I owe on my credit. I have never seen this before but it definitely surprised me. Certainly a first for me and I am very happy now and hope it goes well when I do my taxes. I am also curious as to when or if it will be removed from my credit? I have heard that I may have to pay taxes on this when I file.

Here is how it looks on my credit

More about (Company Name)
Remarks:
[TransUnion] Charged off as bad debt
Profit and loss write-off
[Experian] Unpaid balance reported as a loss by credit grantor.
[Equifax] Charged off account
Amount in high credit original charge-off amount

TransUnion Experian Equifax
Past Due: $2288 $2288 $2232
High Balance: $1638 $1638 $1335
Terms: 14 months 14 months
Limit:
Payment: $117 $117
Opened: 05/23/2002 05/2002 05/2002
Reported: 01/02/2007 01/02/2007 10/2006
Responsibility: Individual Individual Individual

Late Payments (last 7 years):
TransUnion Experian Equifax
days late: 0 0
days late: 0 0
days late: 0 15



And as shown on the Cancellation of Debt
Which I think would be without interest, cause the above amount is with interest.

Date Canceled
12/31/06
Amount to be canceled
$975.87



Taken from MSN Money

Cancellation of Debt
When a creditor forgives a debt without payment. Cancellation of debt is taxable as income unless the creditor intended it as a gift or it meets certain exceptions relating to bankruptcy, insolvency, or farming.

[Aharon]

I just got three deletions for Stephanie last week ! This was the first time I used the online disputes, I normally just send the snail mail letters.

[Cornwalace]

I think this thread is a jem and should be brought back to life.

[TIM TIM TIM]

I have a citi credit card so I signed up for there credit monitoring which lets me look at my score/report for all 3 agencys whenever I want.

I had a few things that were only showing up on experian that were not mine, a bankruptcy, a credit card from 96 (which isnt possible since im only 20) and something else (cant remember). I dispurted them through the site but now I cant find the link I used to dispute to see if there has been any change, its been atleast 3-4 weeks since I did it. :dunno:. How can i check to make sure it went through and all?

[TIM TIM TIM]

man what bull crap, I just checked my email and got a response back from my disputes, the bankruptcy came off which is very good, but the credit card opened when i was 9 YEARS OLD they are still saying is mine, do I just dispute it again or something? they should have to reimburse me for the credit I have been declined due to those idiots. I hate the credit system.

[John]

I would call the company and deal with no one less than a manager. Not a supervisor, a manager. Get as high up as you can. Explain to them calmly the situation, and how you can resolve it. The best you can hope for is to have it removed, lest you want to go through a lengthly legal proce$$

[TIM TIM TIM]

well I have NO money right now, literally. so I guess I will be calling. thanks

[juke]

This is the greatest thread I have ever seen. Thanks John, this came in handy right now. Fraud sucks.

[thereturnofdark]

bump this up. my wife and i just got 3 to 4 things deleted from our credit reports on experian and transunion......:) credit score on experian jumped up 15 pts.

[TampaDude]

bftd...