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Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
0

Newby needs help...

[ Edited ]
I made a decision too take charge of my long suffering credit ignorence and neglect
and started paying off past creditors this january.
It has been 6+ months now and I watched my Fako scores go up between
48 - 62 points with my first round of debt payments from january to june ( around 8,000$ worth ).
I was around 450 - 485 on the Fako scores and they are now sitting at
TU 498   EXP 510   EQ 547...
I just paid off another 6500$ of debt on multiple accounts this past week and I am poised to see hopefully another spike in my credit rating... ( total of 14,500$ of debt eliminated from both rounds)
I was sitting around nervously being the compulsive individual that I am and remembered that
the FICO scores are more important so then I discovered this fine site and pulled my FICO scores on the 10th of july and my scores are sitting at. TU585    EQ570   EXP592
 
I then started reading all your correspondance on this forum and realised I had done some things
wrong as too not writing payoff for deletes letters and such and need some advice..
 


Message Edited by Tmleverage on 07-14-2007 03:17 PM

Message Edited by Tmleverage on 07-14-2007 03:29 PM
Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
0

Re: Newby needs help...

[ Edited ]
I have multiple credit cards, I payed off like 7 of them with them all being 4 - 6 years old and several
years delinquent and I now have multiple charge offs and paid in settlements sitting for all these same accounts on my report, not knowing about the paid for settlement letters and I need to know what my next course of action is?
My credit report hopefully will go up more but I am not seing the original creditors reporting paid statuses on my old accounts just the creditors that took over the collections.
I also have paid off a city tax lein that came off Tans Union but not the others and Trans union
also is nice enough to dispute another state tax lein that is close to the 10 year mark and said
they should be able to remove this also..
how do I get the other creditors too remove the other leins?
 


Message Edited by Tmleverage on 07-14-2007 03:28 PM

Message Edited by Tmleverage on 07-14-2007 03:29 PM
Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
0

Re: Newby needs help...

I had moved around alot and acquired debt in several locations and I have some
multiple collectors on my reports for the same accounts wich is hurting the scores.
Example I had a Dish network bill from years ago that I had paid and I still am a long standing
customer with them, I had 3 different collectors on my reports for the same bill that I paid in 2004
but just recently 1 came off but not the other 2, I wrote another email to Dish network and
gave them the 2 creditors addresses and phone numbers this friday in the hopes that they will
get them too eliminate the reports as I have multiple reports from different creditors for a lot
of items.
I have paid off 97% of my creditors and I have a couple of stragglers around that I am
looking into paying and am hoping that I could qaulify for a new house next year.
Am I being too hopeful as the amount of accounts I paid off this year is close to 40+ and
I only have about 25 derogatory items on my reports at this moment with about 7 of them that are multiples of the same accounts and all are paid in full or paid in settlement except for 3 items.
Established Contributor
Posts: 543
Registered: ‎05-01-2007
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Re: Newby needs help...

Take the letters (documenataion) that you recieved from the tax lien agency that they will be deleted. Send a copy of that along with a copy of the Gransunion credit report that shows it has been deleetd. Write a nice letter indicating that the city is willing to remove the tax lien form your credit report. If you ahve to get another letter from the city tax lien dept. Don;t give up. I nkow I can speak up for other members on thsi discussion borad. One of our comemebrs has asked for our help and that person is going to get our help. As all blances on past debts get closer and even reflecting a zero balance on all accounst your score will go up to a certain point. You can contatc each creditor and request that they delete the negative account from the credit bureaus. The worst thing that they would say is no they will not. But what you also do from today and now on is very important. Do not be late for any reason, even one time. You ahve o have at elast one major credit card being reported to each bureau because they impact the score a lot. You can have up to 3 credit cards. Satya way from teh dept store or gas station cards ebcause you can not negotiate a interest rate with them. Go to thsi websit which si aprt of myfico   http://www.bankrate.com/brm/fico/calc.asp?lpid=BKRATE29
Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
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Re: Newby needs help...

Thanks for the advice, I have the original release of tax lein from the state
can I make copies of it and send them to the creditors?
 
I am waiting to see if my scores go up in the next few weeks too apply for a couple of cards
but I was wondering if I should try too renew some good standing older cards that I have
not used in over 10 years but I cut them up long ago too avoid making a mistake on them...
1 is an AMEX card that I am in good standing with from 22 years ago and is 1 of several
long standing accounts in good status but I doubt they will give me credit on it until my scores
go up and I won't try untill I feel that I could get approved again I just kept paying the 55 dollar fee
untill the end of last year.
 
Regular Contributor
Posts: 212
Registered: ‎06-30-2007
0

Re: Newby needs help...

Have you tried any GW letters to the creditors you have paid off?  As far as the settlements you still have some leverage if you inform the CA or OC's that you will pay a portion or the rest of the debt off for deletion.
 
I don't know much about the leins...I never disputed the one I had and it fell off this year (after 10 years).
911 Operators....America's Lifeline!
Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
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Re: Newby needs help...

The settlements were paid off once they commited to the settlement amount, I paid the balance
right then on the agreed amount..
I will start to send out GW letters this week and see what I can get off in the coming weeks
and or months.
My one big concern I guess is the collectors are showing paid in full or paid off in settlement
but the original creditors are not on most of them, so the GW letters is the next approach for me.
Thanks for the advice too all and the future advice I know I will be needing
Frequent Contributor
Posts: 470
Registered: ‎04-07-2007
0

Re: Newby needs help...

Smiley Wink So many of us have been where you are, so don't feel alone or discouraged.  You'll get through this, one step at a time, but indeed, do not pay any of your creditors late, from this point on, even if it means you have to eat peanut butter and jelly for a month!  Goodwill letters, written from the heart, stating your apologies for your late pays, along with mentioning your hope of cleaning up your credit, sure couldn't hurt.  This may get some of them deleted from your credit reports.  Try to keep in mind, as you're writing them that the readers are people too, who aren't so unlike you.  I've found that many a hardnosed creditor will soften up if you just talk to them like they are human, and it's easier to do this in a letter, besides.  It's worth a shot, anyway, or as they say,  "Nothing ventured, nothing gained."  As far as your lien goes, there are many in this forum who can better assist you in that regard.  Keep us posted, for sure, as you have come to be one of us, now!  We'll wonder if you don't!
 
Smiley Wink 
Regular Contributor
Posts: 212
Registered: ‎06-30-2007
0

Re: Newby needs help...

Guru's couldn't the settlements be handled this way...if you want deletion?
 
If you and the CA agree on a settlement amount, can you still try for a PFD by paying the balance on the account.  Say you had a $1000 debt and you settled for $600.  Don't  you still have $400 worth of leverage?  Can you send them a letter telling them you are willing to pay the balance on the account for deletion from your CR's?  Seems like all they could do is tell you no.
911 Operators....America's Lifeline!
Frequent Contributor
Posts: 452
Registered: ‎07-14-2007
0

Re: Newby needs help...

Fantastic I am somebody now, I feel like Steve Martin in the Gerk opening the phone book
and seing his name for the first time...Smiley Very Happy
 
I guess the stress of going thru this over the past 6+ months caught up to me and
now I want it all to go away on my terms but realistically I have to wait and make the correct
moves from here on out as all you posters are saying, I built up a lot of debt over the past
15 years and I am coming to terms with it this year and have been in a position that has
allowed me too pay it completely off ( except for a few stragglers ) in a very short time.
 

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