08-18-2011 12:07 PM
Sure, it's a pay for delete. Where you offer to pay them the amount owed in exchange for them deleting the account from your reports. They do not have to agree to this, but if you check out the rebuilding forums you will read all sorts of success stories of membes who have been successful in getting derogatory info removed by using pfd or GW (goodwill) letters. Goodwill letters are used to ask for deletion of paid derog accounts or removal of late payments. May want to check out the rebuilding forum for some helpful letters.
08-18-2011 12:11 PM
I called them and offered to pay it for a delete and they said that is illegal. I thought for the small amount that made sense. Is there a letter for the PFD? I thought maybe if I got an attorney they would be willing to negotiate.
You have been amazing! I really appreciate you investing in me.
08-18-2011 12:16 PM
It's not illegal. But what they are referring to is that what they report has to be fair and accurate by law. But there is no law that says they have to report. I'd try and write a letter instead of talking to someone on the phone.
I'd start by taking a look at these threads:
Both have great info! And you're very welcome. This site is full of wonderful information from people that have been there or are still stuck there. We all help each other!
08-18-2011 12:21 PM
I don't use Orchard Bank at all $500 - Credit Limit
I use and keep a balance on the First Premier - $200 Credit Limit
I use and don't keep any balance on the Capital One - $1,000 Credit Limit
My hope would be to get a card with a $5,000 credit limit and eliminate the Capital One card
Bluntly, I would like an AMEX but don't think I have any chance from the posts I have read about the "blacklist" especially with them writing off $42K 10 years ago
Why keep the First Premier and get rid of Capital One. That is the opposite of what I would recommend.
IMO, AMEX does backlist, so I would forget about them forever,.
08-18-2011 12:29 PM
Thanks for those threads.
May I ask, do you think I should attempt to apply for a card at this point or wait?
Also, I never receive any "pre-approved" offers in the mail. Should I wait for that to happen first?
08-18-2011 12:31 PM
The First Premier is older than the Capital One but I understand your thoughts. I just closed the $300 credit limit FP. I was tired of paying $6 a month and the annual fee came due.
In regards to AMEX, it has been 10 years and the judgement is closed on the court record. Though I never paid it. Do you think if I offered them something ($2K - $5K) they would remove me from the blacklist?
08-18-2011 12:34 PM
If you're current goals are to get a mortgage and a better score, you probably don't need any other cards. You have 3 and that's good. Just keep paying them on time, especially if you want a mortgage in the next 12 months (lenders want clean positive credit for at least 12 months these days). Garden the cards you have now. And like Wolf said, keeping the Crap1 is better than the FP. If you junk the Cap1 you will lost thae $1k in available credit and your utilization will be very sensitive to that loss. FP won't grow with you either, whereas with Cap1 there is some room for growth.
If you're aren't opted out and are not receiving any pre-approvals that probably means you aren't matched with any lenders right now. If you are opted out, you won't get any pre-approvals at all.
08-18-2011 12:38 PM
I thought it was not possible for them to delete the charge off. But it would not show up as late any more if you paid it in full now.
08-18-2011 12:45 PM
1.) When you say "Garden the cards I have now" - What do you mean?
2.) How do I know if I opted out sometime in the past? When my credit score approves will I automatically start receiving offer?
3.) I have not had any "hard pulls" on Experian - 1 on TU (not sure who this is
Old - 07/06/2011 New - 07/11/2011 Comparison
Date of Inquiry:
Three on Experian
Inquiries that may impact your credit rating
These inquires are made by companies with whom you have applied for a loan or credit.
Name of Company Date of Inquiry
AZUMA LEASING 09/07/10
Creditor Contact Information
2905 San Gabriel St Ste 21
Austin, TX 787053500
CLEARWIRE CORPORATION 03/20/11
Creditor Contact Information
3525 E Post Rd
Las Vegas, NV 891206214
HSBC BEST BUY 03/20/11
Creditor Contact Information
HSBC BEST BUY
PO Box 15518
Wilmington, DE 198505518
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