Collections.. CONFUSED!!!!!

[Anonymous]

My wife ran her CR and it came back with 5 collections from 6 years ago. All of which she doesnt remember having.

My question is should I send a DV letter to the companies or should i send a PFD?

the original creditors are Sprint, Capital one, Applied bank, wachovia and a jewlery store.

Also if these are taken off her CR will her credit go up.

I need to do something to get her CR to atleast 620..

Please help

[SmartCookie]

hi nickb218 and welcome!  Please start here http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

Yes, if these come off of her report, her FICO will improve.

It is important that both of you do your homework to decide how best to handle this, especially if it turns out that they actually were hers and she has forgotten.

First, know that there are 2 timeframes to be aware of.  The first is the reporting SOL, and that is roughly 7 years from the date the account first went 'bad', the DOFD.  Second, depending on your states collecting SOL,  these CAs might or might not still be able to sue her if the debt is valid and she disputes it.  Knowing those dates is the first thing she needs to determine to find out how she would like to handle these 5 accounts that seem to be due to drop.

[Anonymous]

Below are the dates that are on her CR.

1. Placed for collection 4/02. Will be removed 10/08

2. Placed for collection 10/05. Will be removed 3/09

3. Placed for collection 7/02. Will be removed 10/08

These are the only 3 that I am worried about as she doesnt remember having these accounts. The other 2 accounts I will send a PDF so I can pay to get them deleted.

Now should I send a DV letter or should I just send a PDF so I can get these off her CR.

I need to get these off ASAP since we are looking for houses and her credit is causing extra $$ on the mortgage.

[Anonymous]

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nickb218 wrote:

Below are the dates that are on her CR.

1. Placed for collection 4/02. Will be removed 10/08

2. Placed for collection 10/05. Will be removed 3/09

3. Placed for collection 7/02. Will be removed 10/08

These are the only 3 that I am worried about as she doesnt remember having these accounts. The other 2 accounts I will send a PDF so I can pay to get them deleted.

Now should I send a DV letter or should I just send a PDF so I can get these off her CR.

I need to get these off ASAP since we are looking for houses and her credit is causing extra $$ on the mortgage.

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You can try disputing as 'Not mine' if she really does not believe that they are hers.  If they come back verified, then I would DV.  If all else fails, you should be able to request a PFD tho there are no guarantees.  Check with your mortgage lender, some will overlook them depending on the amount especially at that age.

[Anonymous]

When you say "Not Mine" do you mean sending a letter stating that I received my CR and I beleive these are not mine? Do you have a sample letter?

Or should I go right ahead and submit a DV..

I also like in NJ if that helps..

I would also like to thank everyone for all the help. You are all great!!

[Anonymous]

Dispute with the CRA online "Not Mine" first.

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@Anonymous wrote:

When you say "Not Mine" do you mean sending a letter stating that I received my CR and I beleive these are not mine? Do you have a sample letter?

Or should I go right ahead and submit a DV..

I also like in NJ if that helps..

I would also like to thank everyone for all the help. You are all great!!

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[Anonymous]

Hi, Brammy!

I have been paying off old collection accounts however, I understand that the Collection Agencies (CA) are no longer allowed to delete the collection accounts from consumer credit reports.

If they are paid collection accounts with $0 balances this may sound obtuse however, can I still dispute the item as "not mine" or should I just wait for the paid items to fall off, or should I contact the original creditor to request for them to remove the collection account from my credit report.:smileyindifferent ?

Please advise I am still fairly new with this site...

[Anonymous]

Thanks for all the help..

Im going to email TransUnion, Equifax, Experian now and tell them that these certain collections are not mine.

Do you have a sample letter I can send to them or should I just say I reviewed my CR and I dont beleive that these are mine.