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Regular Contributor
vesper
Posts: 234
Registered: ‎03-23-2008
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New and confused...long message but I need help!

[ Edited ]
Hello to all! I am completely new to this whole FICO and fixing your credit report craziness and I would totally appreciate all the advice you can give. I have made many mistakes during my 20’s because I was never taught how important any of this is. Why don’t they have this as a required course in high school? Anyway, my current vehicle is dying and not worth repairing and I need to raise my FICO so I can get a good loan (and not a rip off one that I had for my current car) for a new car.

Currently my FICO is EX: 629 EQ: 631 TU: 655. Listed are some questions I have about what is on my credit report and if I should send a GW or if it is too late to send a validation, etc.

But, before I began, one quick question about my student loans. I consolidated my loans back in 2004, but on my credit reports, I have those listed as well as the Stafford Loans listed before my consolidation. Is this normal? And on TU I have 2 of the loans before consolidation listed with Paid Late on it (there is no paid late on EQ or EX). Can I send a GW letter to AES asking if it could be removed or does it not matter when it is listed as Inactive Account? And do I count these loans as my debt to credit ratio or is that just for my credit cards?

EQUIFAX:
ACCOUNTS
  • 1. Midland: This is a collection agency for First Consumer and the current status says 120+ past due. I have just received a letter from them the other day and it says that they have contacted me before which I never received any letters (and if they really want me to get it why don’t they certify their letters?). I have been getting “unknown” phone calls on my cell during the day, but no messages are ever left. I do remember this credit card and the limit was $250. I hit financial difficulties in 01 – 05 and First Consumer refused to work with me when I knew I was going to be hit hard back in 02. The late payment fees, etc made it too difficult for me to catch up. On the credit report it says that my largest past balance is $970 and the past due amount is $1447. I really do not have this kind of money, so I’m not sure what to do? Is it too late to send a validation letter? Date Opened: Not Reported (is this normal because this is how it is on a lot of my accounts) DOLA: Nov, 2002

  • 2. Palisades Collection for AT&T Wireless (so weird, since I still use AT&T wireless and pay my bills) DOLA: June 2004 Past Due Amount: $223 Should I send a letter saying I will pay this if they remove it from my credit report? Or send a validation letter? I’m so confused can you tell?J

  • 3. Triad Financial (this was my car loan and I paid it off in Dec. 2006) Date Closed: Not Reported Account Status: Account is Opened It also lists the 7 year payment history with my late payments and under worst delinquency it says 60 days past due. Should I send a GW letter to Triad asking it to be removed and an explanation as to why I was late, etc?

  • 4. Capitol One: I settled this account and the current status says Bad Debt / Collection. DOLA: July 2003 (is this the date I settled the account or is it the date that I went delinquent?…..it seems wrong if it is. I went through bad times before that) Date Closed: Not Reported Account is Inactive Can I send a GW to them to see if they can remove the past dues and change the stutus?

  • COLLECTIONS: (Why isn’t Midland listed under this category?)
  • 1. Comcast: Balance $30 Status: Paid DOLA: June 2002

  • 2. Doctors: (I have never received anything from the collection agency “848ya00000” and I am assuming it is because I moved from VA to CA after I lost my job due to 9/11) Balance $105 DOLA: Nov, 2001 Should I just let these two go and wait for them to disappear after the 7 year mark? Or should I write to them a letter saying I will pay them if they remove it from my credit report?

  • TRANSUNION:
    ACCOUNTS:
  • 1. Capitol One: “Charged off as bad debt” DOLA: April 2005 (different from the date on EQ above) Date Closed: April 2004 Date Paid Out: April 2005 Largest Past Amount: $815 Account is Closed “Settled less than full balance” No delinquency’s reported Do you see my confusion?? Why is it different than Equifax when they Status As Of is the same?

  • 2. Providian (a**holes): DOLA: April 2005 “Charged Off as Bad Debt” I got a summons by these dingleberries and settled with them in September 06 because I was scared and they were mean. I was concerned about the DOLA because I was pretty sure I stopped being able to pay Providian in 2002. What are the reasons for this date to change? Anything I can do for this one to help my FICO?

  • COLLECTIONS:
  • 1. Midland is listed here for First Consumer DOLA: Not Reported Again, what’s the deal with this? And what should I do?

  • 2. AT&T Wireless: DOLA: Not Reported

  • 3. Doctors: DOLA: Not Reported Again, what’s the deal with this not being reported? And what should I do?

    EXPERIAN:
    ACCOUNTS This is vexing me and I think it should not be listed twice under ACCOUNTS, but I could be wrong:
  • 1. First Consumer: “Unpaid balance reported as a loss by credit grantor” DOLA: Jan 2004 (in my EQ report it is under Midland and is listed as Nov 02) Account Status: Account is Open Past Due Amount: $970

  • 2. Midland Credit for First Consumer: “Account seriously past due date/account” DOLA: Oct 02 Past Due Amount: $1437 Loan Type: Unknown – Credit Extension, Review, Or Collection Account Status: Account is Open It lists me as being late 90 +days, 13 times from Nov 02 to Dec 07.

  • 3. Capitol One: DOLA: Jul 05 (again different from EQ)

  • 4. Providian: DOLA: May 05 (Different from TU) Date of Last Payment: April 05 Date Closed: Not Reported Account is Inactive: Transferred to/purchased by another lender

    COLLECTIONS:
  • AT&T Wireless: DOLA: Not Reported

  • Doctor’s: DOLA: Not Reported

  • Comcast: DOLA: Not Reported “Paid account / was a collection account, insurance claim or government claim or was terminated for default”

    Anyway, that is my story. I can’t seem to find the answers that I am looking for in “credit repair” books or at least explanations as to why DOLA is different / wrong, and everything else. Any help you wonderful people can give me I will totally appreciate! Thank you kindly!


    edited to insert paragraphs and bullets as best as I could (sorry, my 53-year-old eyeballs just couldn't handle it!) :smileyhappy: --hauling

    Message Edited by haulingthescoreup on 03-30-2008 03:58 PM
  • Regular Contributor
    ncblondie
    Posts: 111
    Registered: ‎10-01-2007
    0

    Re: New and confused...long message but I need help!

    Hi. You will probably get more responses if your post is in an easier to read format. If you're in Firefox, you will need to edit your post and make sure to click the box at the bottom that says Automatically convert carriage returns to HTML line breaks.
    Moderator Emeritus
    HappyDays
    Posts: 7,326
    Registered: ‎06-18-2007
    0

    Re: New and confused...long message but I need help!

    Hi vesper, welcome to the forums. Your post is very hard to read   many people will bypass it. Try to break it up & list  everything seperate.   check out this link  it has the abbrevs that we use and freq.requested threads that is loaded with info.
     
     
    Im going to try and answer some of your questions     if I miss anything  just ask again.
     
    Before doing anything you should know....your SOL
     
    The diffenence between CRTP and SOL
     
    The dates are very importand   DOFD/DOLA     these are set by the OC!!!
     
    #1   you dispute with the CRAs   only
    #2   You DV   CAs  only
     
    Some people think that they should dispute everything on there CR....untrue!!
     
    There are times when you would send a DV  before any dispute.
     
    Currently my FICO is EX: 629 EQ: 631 TU: 655
     
               not bad
     
     debt to credit ratio
     
            D/R  includes  everything coming in & going out!   someone else needs to answer student loans. I do not know that much about them.  BUT  usually you can send GW to anyone that you paid  or for late payments.
     
    What is your SOL?
     
    Midland:    Is the OC still reporting? If so  what is the drop date on CR or DOFD
        Is   DOLA: Nov, 2002  reported by OC or the CA?   Did you stop paying in or before 2002?
     
    2. Palisades Collection for AT&T Wireless (so weird, since I still use AT&T wireless and pay my bills) DOLA: June 2004 Past Due Amount:
     
                Palisades are barfbags      send them a DV letter  CMRRR     this prob. doesn't belong to you.
                    Also this is covered by Federal SOL (2years)
     
    3. Triad Financial (this was my car loan and I paid it off in Dec. 2006
     
          This should be reported as closed!     send GW letters for late pay.
     
    4. Capitol One: I settled this account and the current status says Bad Debt / Collection. DOLA: July 2003 (       Im guessing that this is when you paid........they usually never accept GW  but try anyway.
           Look at your CR  TU and EX    look for *will remain on CR until  month/date   may be different wording but meaning is same        That is when it will drop off.
     
    1. Comcast: Balance $30 Status: Paid DOLA: June 2002    
     
              This will drop from CR  in 2009          I need to know your SOL
     
    Doctors: (I have never received anything from the collection agency “848ya00000” and I am assuming it is because I moved from VA to CA after I lost my job due to 9/11) Balance $105 DOLA: Nov, 2001 Should I just let these two go and wait for them to disappear after the 7 year mark? Or should I write to them a letter saying I will pay them if they remove it from my credit report?
     
           I believe that all medical should be paid BUT thats only my opinion.........This is past SOL in both Va and Ca.........you can let it drop OR  send a DV......if they answer and you want to....you can send a PFD.............always DV first!!
     
    Capitol One: “Charged off as bad debt” DOLA: April 2005 (different from the date on EQ above) Date Closed: April 2004 Date Paid Out: April 2005 Largest Past Amount: $815 Account is Closed “Settled less than full balance
     
            Look at CR  for drop date....or call the CRA...............Because these dates are all different   you might want to dispute with all CRAs       and see what comes back
     
    2. Providian...........be very careful of this.......they should be reporting settled for less & DOLA would be the date that you paid........The DOFD doesn't change from orig.  if it was 2002  it will drop in 2009
         check your CR    for drop date   or as with all of them  call CRAs and ask.
     
     
     
     
    Regular Contributor
    vesper
    Posts: 234
    Registered: ‎03-23-2008
    0

    Re: New and confused...long message but I need help!

    Sorry! I will repost. I am using Firefox.
    Moderator Emerita
    Community Leader
    Epic Contributor
    haulingthescoreup
    Posts: 28,115
    Registered: ‎04-01-2007
    0

    Re: New and confused...long message but I need help!

    When you edit your original post, look for pairs of < div >< /div > that are separated by a space. In other words, there will be 4 div's. If you hit return at that space between the pairs of div's, you should find your original paragraphs. (You might have to hit enter twice: be sure to click the Preview Post button to see how it will look.)

    The Firefox Paragraph Blob strikes again!
    * Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
    FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
    Regular Contributor
    vesper
    Posts: 234
    Registered: ‎03-23-2008
    0

    Re: New and confused...long message but I need help!

    Hi HappyDays,

    Thank you for responding. I have some questions to what you said:


    The dates are very importand DOFD/DOLA these are set by the OC!!!

    Has the OC ever lied to CRAs about the DOLA so they don't have to worry about the SOL. And can I get validation from the OC about these dates. Unfortunately I have no paperwork, but I could find out through my bank.

    #1 you dispute with the CRAs only
    #2 You DV CAs only



    What is your SOL?

    Midland: Is the OC still reporting? If so what is the drop date on CR or DOFD
    Is DOLA: Nov, 2002 reported by OC or the CA? Did you stop paying in or before 2002?

    How can you tell if the OC is still reporting? I'm not sure who reported the DOLA, but it is under Midland. See...this is why I am so confused!


    Look at your CR TU and EX look for *will remain on CR until month/date may be different wording but meaning is same That is when it will drop off.

    I don't see this on the CR's.

    1. Comcast: Balance $30 Status: Paid DOLA: June 2002

    This will drop from CR in 2009 I need to know your SOL.

    I think Cali is 4 years, but I will look it up in a few to make sure


    Capitol One: “Charged off as bad debt” DOLA: April 2005 (different from the date on EQ above) Date Closed: April 2004 Date Paid Out: April 2005 Largest Past Amount: $815 Account is Closed “Settled less than full balance

    Look at CR for drop date....or call the CRA...............Because these dates are all different you might want to dispute with all CRAs and see what comes back

    So, since all these dates are different, I should dispute with the CRA's instead of doing a DV with CA or OC?

    2. Providian...........be very careful of this.......they should be reporting settled for less & DOLA would be the date that you paid........The DOFD doesn't change from orig. if it was 2002 it will drop in 2009
    check your CR for drop date or as with all of them call CRAs and ask.

    Why do I need to be careful with this one? Is DOLA/DOFD the same thing? All I have is DOLA on my credit reports. I bought it through Suze's FICO kit.

    Thanks again for your help!
    Moderator Emeritus
    HappyDays
    Posts: 7,326
    Registered: ‎06-18-2007
    0

    Re: New and confused...long message but I need help!


    Has the OC ever lied to CRAs about the DOLA so they don't have to worry about the SOL. And can I get validation from the OC about these dates. Unfortunately I have no paperwork, but I could find out through my bank
     
    I would say no  BUT  mistakes happen all the time!   You are the only one that SOL means anything to.  Every state sets its own SOL....so each can be defferent,
     
    Florida  SOL  is 4 and 6 years    Ct. is 6 years across the board.   The CRA are governed by federal law not state law
     
    You should be able to read your drop date OR call and ask each CRA.....only ask about what the OC is reporting...........CAs are who might change these dates.And in that case you can use CR  showing what the OC reported.
     
    When you dispute an OC with the CRAs......and it comes back verified.....then you send the OC  the OC letter which the OC must answer (only after they have verified with the CRA)
     
    You never DV   or  ask an OC to validate!!  you DV a CA  for validation
    Regular Contributor
    vesper
    Posts: 234
    Registered: ‎03-23-2008
    0

    Re: New and confused...long message but I need help!

    Hi Happydays, I'm really confused on what you wrote here: When you dispute an OC with the CRAs......and it comes back verified.....then you send the OC the OC letter which the OC must answer (only after they have verified with the CRA)
    Moderator Emeritus
    HappyDays
    Posts: 7,326
    Registered: ‎06-18-2007
    0

    Re: New and confused...long message but I need help!

    When you file a disput with the CRAs....the CRA pc talks to the OCs pc  which will verify the account! The dispute is then closed and any changes that the OC had are done.
     
    Once an OC verifies an account to the CRAs........they MUST answer the OC letter. which asks for complete account history!
     
    If they do not verify the account with the CRAs then they must delete the account.
     
    If the OC letter is sent to the OC BEFORE  the OC verifies a dispute with the CRAs....they do not have to answer the OC letter.
     
    The dispute can take 30-45 days   the OC letter is sent after the dispute is closed and the OC has 30 days to answer the letter
    Regular Contributor
    vesper
    Posts: 234
    Registered: ‎03-23-2008
    0

    Re: New and confused...long message but I need help!

    Is this to just verify the DOLA? I'm so sorry I am confused. I think I have been reading too much and it is all mixed up in my brain of what to do. Also, I am just so scared of doing something wrong and messing everything up on my score.

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