Advice needed on Credit Repair

[Anonymous]

I lived in the USA for 10 years as a student. In 2002, my total credit card balance was about US$13000. All my credit cards were maxed out and was struggling to make minimum payment. Then sought credit counseling, and they made my credit profile lot worse than where I was, with missed payments, delinquent charges. All my credit card accounts were closed. My total debt went up after three years (agreed time to completely pay off my debt) of strictly paying the agreed amount. Finding no end to this, in 2005 I left USA and the debts, and moved to Canada. I did not pay or do anything after that. It is not that I did not want to pay off what I owe, but I was unable to pay off with the student visa in USA. Now I have established an excellent credit history in Canada with my full time professional job.

I agree, it was my naive and stupid actions spoiled my credit worthiness in USA. However the credit agencies do this as business and and want to think about this strictly as a business matter and do not want to mix my moral issues. Now, I am thinking about whether to go back and live in USA or not. So I have the following questions.

1. I am unable to order my credit report, since I do not have any mailing address in USA or any memory of details or my credit profile ( such as credit issuing banks or number of cards, credit limits etc.). When I called for my report they were unable to verify my identity due to my limited memory on my US credit profile. How can I order my credit report?

2. When I was reading on the internet, I found that collection agencies or creditors cannot follow me after three years of my last transaction with (payment to) them? Is that true? How long will it take them to forget about (or impossible take legal actions on) my debt?

3. Will my Canadian credit history be affected by the adverse US credit history, if and when it was matched (or found)? or vice versa? Can they legally come after me in Canada?

4. How long will the delinquent charges stay on my credit report?

5. Is it possible to establish myself in the USA using the Canadian credit history, without my credit history? i.e. to rent or buy a place to live, get utilities service to my living place?

6. How can I re-establish a credit worthiness again in USA? I guess that I cannot get a new credit to build a history.

Any help/advice is helpful. Thank you in advance.

Message Edited by tharakar on 03-27-2008 11:17 AM

[msensa]

I'm curious to the answers to these questions.  I never knew the same credit system wasn't used in other countries. 

So essentially, when you move into a new country you have a fresh clean slate?

Message Edited by msensa on 03-27-2008 11:21 AM

[Anonymous]

tharakar wrote:

1. I am unable to order my credit report, since I do not have any mailing address in USA or any memory of details or my credit profile ( such as credit issuing banks or number of cards, credit limits etc.). When I called for my report they were unable to verify my identity due to my limited memory on my US credit profile. How can I order my credit report?

Are you able to mail them any documents to prove your identity? What did the CRA suggest you to do to prove your identity?

2. When I was reading on the internet, I found that collection agencies or creditors cannot follow me after three years of my last transaction with (payment to) them? Is that true? How long will it take them to forget about (or impossible take legal actions on) my debt?

This is not an easy answer. Depending on the size of the debt, they may never forget about it and you may have junk debt buyers trying to collect 30 years from now. There is SOL that keeps them from taking legal actions after a certain period of time. However, this SOL is based on each state AND it can be stopped if you left the state(or country in your case) and not restart until you move back to that state. Unless the SOL ran out BEFORE you left the state.

3. Will my Canadian credit history be affected by the adverse US credit history, if and when it was matched (or found)? or vice versa? Can they legally come after me in Canada?

I do not know about coming after you in Canada. I don't think your history in one country affects history in another, but I don't know.

4. How long will the delinquent charges stay on my credit report?

7 years from DOFD. However, it is quite possible that they have gotten judgements against you already. Those stay for longer time periods.

CRTP-

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

5. Is it possible to establish myself in the USA using the Canadian credit history, without my credit history? i.e. to rent or buy a place to live, get utilities service to my living place?

Yes you can establish youself in the USA, but I dont know about using our Canadian credit history to do so. You'll likely have larger deposits until you have a US credit history. Before coming to the US you might get a copy of your Canadian credit history and offer to show your landlords.

6. How can I re-establish a credit worthiness again in USA? I guess that I cannot get a new credit to build a history.

Once you move to the US, get your credit report and see what is there, you might have to start out with a secured CC to get your credit going. Or once you have secured employment, try getting something from a credit union.

Any help/advice is helpful. Thank you in advance.

Message Edited by tharakar on 03-27-2008 11:17 AM

Partial guide to common abbreviations-

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=3866

Message Edited by sidewinder on 03-27-2008 12:34 PM

[Anonymous]

Thank you for the reply (Sidewinder). I lived in Louisiana, and not planning to go to that state to live. I wish they forgive my debt with the Hurricane Katrina mishap.

Anyway, I want to clarify something regarding the SOL that came from your reply. SOL in Louisiana is 3 years in general. Does this mean I have to live there since the DOFD to make the SOL run out? Or can I live outside Lousiana to let the SOL run out? Where can I find the detail about whether the SOL can be stopped in Louisiana or not. The largest credit limit on the credit card was US$5000 and the total credit card balances owing was $13000. Is it big enough for them to forget? My balances are all credit cards, not a huge mortgage or anything like that.

I am taking steps to get my US credit history while I am living here. Only after this I can look into my options. I am planning to move back to USA only after 2 spending 2 more years here in Canada. I would probably go to California or something like that.

Message Edited by tharakar on 03-27-2008 02:46 PM

[Anonymous]

Finally I had the chance to look at my credit report from Experian. I ordered experian, because they do not operate in Canada. I hope this will prevent them from linking anything to my Canadian Credit Histtory. I am concerned about the following accounts.

Acct Type: Unknown - Credit Extension, Review, Or Collection
Acct Status: Closed
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department
Payment History: Key Derogatory since March 2007

Acct Type: Collection Department / Agency / Attorney
Acct Status: Closed
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department
Payment History: key Derogatory since August 2006

Acct Type: Credit Card - Revolving Terms
Acct Status: Closed
Payment Status: Charge-off
Payment History: 30 days late since May 2006, Key Derogatory since November 2006

Acct Type: Credit Card - Revolving Terms
Acct Status: Closed
Payment Status: Charge-off
Comments: Credit line closed-consumer request-reported by subscriber
Payment History: 30 days late since March 2006, Key Derogatory since October 2006

Acct Type: Credit Card - Revolving Terms
Date Open: 5/1/1999
Payment Status: Charge-off
Payment History: Key Derogatory begining on or before April 2006

Acct Type: Credit Card - Revolving Terms
Acct Status: Closed
Payment Status: Account transferred to another office
Comments: Transferred to another lender or claim purchased
Payment History: 30 days late since December 2005, Key Derogatory since May 2006

Now I have the following questions:

1) First two accounts are not familiar to me. I guess they are the CA, who bought the account. How can I get more information about the original creditor or how did this get into my CR?

2) I have not made any payments since June 2005, accounts were closed in 2003. But the late payment dates and Key Derogatory are showing later dates. This will affect when will these accounts disappear from my CR. What can I do to find out what are the actual DOLA, DOFD and/or date to be deleted? Also is it possible to correct the DOLA or DOFD, if they are incorrect?

3) Some accounts are Charge Off. When will these account be dropped from my CR. Where can I find the Charge Off Dates, if it is important?

4) When there are lot of selling and buying going on, how can the CR know what is the actual DOLA or DOFD? If they keep buying and selling, will it stay forever in my CR?