Rebuilding Your Credit

[schlebrock]

I have a TL on my TU credit report where the OC hasn't reported anything since 05/2004. I tried sending a PFD directly to the OC but they replied back stating they don't accept PFD's.

So, any advice on how to get this TL removed? It's due to drop-off 2/2010 but I'm impatient and would like to get it removed now. If so, my TU FICO score would improve between 820-840 according to the myFICO simulator.

Any suggestions would be appreciated.

[Stump1000]

Have you disputed this account with TU yet?  That's the first thing I done when I started a while back and had about 3 bad TL's removed like that.

That's about the only thing I know to do, or send another PFD letter, maybe they'll get tired of seeing them.

[schlebrock]

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Stump1000 wrote:

Have you disputed this account with TU yet?  That's the first thing I done when I started a while back and had about 3 bad TL's removed like that.

That's about the only thing I know to do, or send another PFD letter, maybe they'll get tired of seeing them.

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Thanks Stump,

Thought about disputing as my next step but wanted to make sure there wasn't a better option.

Any other ideas?

[JoeBJay20]

You may be better off just letting it remain if it's significantly older than your AAoA.  Disputing it could get it deleted, but it could also result in it being verified and dinging your scores as FICO would view it as a recent derog.  Looking at your scores, is there any reason you need it to drop off immediately? 

[lha2009]

I personally would probably just let it fall off since it is that close.  I don't know if it would make a difference score wise, but if you dispute and they come back Verified, they may start reporting again til it falls off.   However, I've had much greater dispute success with TU than EX or EQ.  TU has deleted a few items that EX and EQ say they verified.

A derogatory that old probably isn't killing your score enough to risk it, but I'm new at this, so what do I know?

[74king]

If you want it off immediately file a $40.00 small claims suit and ask for an injunction to have it deleted, don't ask for money in the suit. Odds are they don't have the original contract available since it went to collections or the account was sold. So they will delete it without fighting you. In three weeks it's done. Or you can just let it fall off your report the SOL should be about up soon. Good Luck

King

Message Edited by 74king on 06-22-2009 01:41 PM

[schlebrock]

Thanks for the replies everyone.

It won't affect my AofA in a negative way so that's not an issue. Also, this OC is a credit union and I'm 99% positive that it will never be resold to a CA as that's just not how they operate. SOL was up in 2/2007 so no issues there.

However, I do know that they still have the original delinquent information on my account as they referred to it when they replied to my PFD offer. Therefore, I'm not sure I could file an injuction. Although I have to admit I don't know much about injunctions anyway.

As for the reason I want it off now? Well, I'm just looking to finally having a clean credit history and FICO scores above 800....it's been a long time since I could say that! 

Message Edited by schlebrock on 06-22-2009 01:52 PM

[jesslyn]

It sounds like you are acknowledging that this debt is yours, and that it is unpaid.

Really, your only options are to wait for it to fall off, keep offering PFDs until it falls off, or pay it and then try to GW it.

If it's yours, and it's reporting correctly, there is not another good faith way to get it off your credit reports.