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[Anonymous]

I want to thank you in advance for taking the time to read this, and for your advice. I will try to be as brief as possible.

Summary – I have been diligently working on repairing my credit that was very poor. Currently, I have no debt outside of school loans. I have paid these on time. Despite having succeeded in paying off debt, my FICO just dropped from 666 to 646. I rent, do not have a car or payment, and do not have any current credit cards. Also, I did complete a DMP recently.

I want to know what advice you have on the following info.

My FICO score tells me that my payment history is not good, while every other category is good to great – amt of debt (good), length of credit history (very good), and new credit (great).

1.       10 accounts that show payments 60 days or later. I did just pass 3 years since my last payment.

2.       1 public record. Tax lien for $26,000 for a debt that has now passed the SOL. This was for business payroll taxes. I paid an agreed monthly amount with the SOL passing with a balance still owed. The original lien was filed 3 years ago.

3.       2 collections show on my CR. Both are paid off with 40 months since the most recent collection.

4.       I show 10 accounts with balances. One was paid off in full. The other 9 are my student loans which all reflect pays as agreed.

5.       Specific negative account info.

·         Collection – shows paid as status, date reported as 4/1/09, and current balance of $0.

·         Collection – shows paid as status, date reported as 2/1/09 and current balance of $0.

·         Palisades – shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

·         Capital One – Bad debt/collection, balance of $0. This is one of the collections.

·         Chase – I just PIF. Shows 120+ days as worst delinquency.

·         HSBC Bank - PIF. Shows 120+ days as worst delinquency.

·         Arrow Services - shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

·         Verizon – I owed $112 and PIF a year ago. Showing as bad debt/collection as current status.

·         Merrick – Showing as current bad debt/collection. This is the other collection, and was PIF.

·         Chase - Showing as current bad debt/collection. This was a collection, and was PIF.

·         HSBC Bank – PIF as part of DMP. Shows as bad debt/collection as current status.

Again, thanks for your time and advice.

[Anonymous]

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rek999 wrote:

I want to thank you in advance for taking the time to read this, and for your advice. I will try to be as brief as possible.

Summary – I have been diligently working on repairing my credit that was very poor. Currently, I have no debt outside of school loans. I have paid these on time. Despite having succeeded in paying off debt, my FICO just dropped from 666 to 646. I rent, do not have a car or payment, and do not have any current credit cards. Also, I did complete a DMP recently.

I want to know what advice you have on the following info.

My FICO score tells me that my payment history is not good, while every other category is good to great – amt of debt (good), length of credit history (very good), and new credit (great).

1.       10 accounts that show payments 60 days or later. I did just pass 3 years since my last payment.

Are these open or closed?

2.       1 public record. Tax lien for $26,000 for a debt that has now passed the SOL. This was for business payroll taxes. I paid an agreed monthly amount with the SOL passing with a balance still owed. The original lien was filed 3 years ago.

Tax liens can remain forever unless paid. They are removed 7 years from paid/released date.

3.       2 collections show on my CR. Both are paid off with 40 months since the most recent collection.

If these are reported by the CA, then send GW for removal. What is the DOFD?

4.       I show 10 accounts with balances. One was paid off in full. The other 9 are my student loans which all reflect pays as agreed.

Any negatives on these accounts?

5.       Specific negative account info.

·         Collection – shows paid as status, date reported as 4/1/09, and current balance of $0.

·         Collection – shows paid as status, date reported as 2/1/09 and current balance of $0.

·         Palisades – shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

Send GW letters to the 3 above.

·         Capital One – Bad debt/collection, balance of $0. This is one of the collections.

What is the last reported date? Date of last activity? DOFD?

·         Chase – I just PIF. Shows 120+ days as worst delinquency.

·         HSBC Bank - PIF. Shows 120+ days as worst delinquency.

These open or closed? Were they charged off? DOFD?

·         Arrow Services - shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

GW letter.

·         Verizon – I owed $112 and PIF a year ago. Showing as bad debt/collection as current status.

What is the DOFD? Last reported date?

·         Merrick – Showing as current bad debt/collection. This is the other collection, and was PIF.

·         Chase - Showing as current bad debt/collection. This was a collection, and was PIF.

·         HSBC Bank – PIF as part of DMP. Shows as bad debt/collection as current status.

What is the last reported date on these? DOFD? Date open?

Again, thanks for your time and advice.

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[llecs]

Numbers 1-4 are in order of what is impacting your score the most and come from your page 2 of your FICO report.

Specifically, if you have any CA showing in the collections section of your report at $0, then send each a GW asking them to remove. If Palisades or Arrow are showing in the accounts section, then send a GW asking them to remove too.

The rest are baddie OC accounts. Look on page 3 for the positive items. Your history should be reflected in there and should mention your "average age of accounts". Look at the open date of each baddie OC acct (you mentioned CapOne, Chase, HSBC, Verizon, Chase again, Merrick, and HSBC again). If the age of that baddie OC is younger than your AAoA, then send a GW asking them to remove the "bad debt/collection" or "was a charge-off" or "settled" remark. If after many attempts, it would be OK to ask them to delete the TL. If any of these TLs are older than your AAoA, then I personally wouldn't touch it, yet. Do you have any open accounts other than the SLs? Do you have any open CCs?

Per the tax lien, you may want to do some more research on the SOL, just to be sure. Each state varies, but SOLs can easily reach 10+ years for unpaid state taxes, assuming this isn't federal. If federal, the lien will go away 7 yrs from the date you pay it, I believe.



ETA....Sidewinder is a faster typer.

Message Edited by llecs on 05-17-2009 04:46 PM

[Anonymous]

1.       10 accounts that show payments 60 days or later. I did just pass 3 years since my last payment.

Are these open or closed? All are shown closed.

2.       1 public record. Tax lien for $26,000 for a debt that has now passed the SOL. This was for business payroll taxes. I paid an agreed monthly amount with the SOL passing with a balance still owed. The original lien was filed 3 years ago.

Tax liens can remain forever unless paid. They are removed 7 years from paid/released date.

3.       2 collections show on my CR. Both are paid off with 40 months since the most recent collection.

If these are reported by the CA, then send GW for removal. What is the DOFD? 2/1/06 and 8/1/05

4.       I show 10 accounts with balances. One was paid off in full. The other 9 are my student loans which all reflect pays as agreed.

Any negatives on these accounts? Nothing at all.

5.       Specific negative account info.

·         Collection – shows paid as status, date reported as 4/1/09, and current balance of $0.

·         Collection – shows paid as status, date reported as 2/1/09 and current balance of $0.

·         Palisades – shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

Send GW letters to the 3 above.

·         Capital One – Bad debt/collection, balance of $0. This is one of the collections.

What is the last reported date? Date of last activity? DOFD? 4/09, 6/05. and 4/05 in order.

·         Chase – I just PIF. Shows 120+ days as worst delinquency. Closed, CO, 4/05

·         HSBC Bank - PIF. Shows 120+ days as worst delinquency.Closed, CO, 6/05

These open or closed? Were they charged off? DOFD?

·         Arrow Services - shows 120+ days past due as current status and $0 balance. I PIF a few years ago.

GW letter.

·         Verizon – I owed $112 and PIF a year ago. Showing as bad debt/collection as current status.

What is the DOFD? Last reported date? 1/05 and 10/08

·         Merrick – Showing as current bad debt/collection. This is the other collection, and was PIF. 4/08, 7/05, and 9/03

·         Chase - Showing as current bad debt/collection. This was a collection, and was PIF. 5/06, 5/05, and 5/98

·         HSBC Bank – PIF as part of DMP. Shows as bad debt/collection as current status. 2/06, 6/05, and 11/01

What is the last reported date on these? DOFD? Date open?

[Anonymous]

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rek999 wrote:

1.       10 accounts that show payments 60 days or later. I did just pass 3 years since my last payment.

Are these open or closed? All are shown closed.

How long ago did the lates occur? Does the current status show 60 days late or they just have lates on the accounts? How many lates on each account? Are these 10 accounts included anywhere in the below accounts?

·         Capital One – Bad debt/collection, balance of $0. This is one of the collections.

What is the last reported date? Date of last activity? DOFD? 4/09, 6/05. and 4/05 in order.

You can try sending a GW letter. Cap One isn't very GW friendly though. When was the account opened?

·         Chase – I just PIF. Shows 120+ days as worst delinquency. Closed, CO, 4/05

·         HSBC Bank - PIF. Shows 120+ days as worst delinquency.Closed, CO, 6/05

These open or closed? Were they charged off? DOFD?

When was the accounts opened?

·         Verizon – I owed $112 and PIF a year ago. Showing as bad debt/collection as current status.

What is the DOFD? Last reported date? 1/05 and 10/08

Send GW letter.

·         Merrick – Showing as current bad debt/collection. This is the other collection, and was PIF. 4/08, 7/05, and 9/03

·         Chase - Showing as current bad debt/collection. This was a collection, and was PIF. 5/06, 5/05, and 5/98

·         HSBC Bank – PIF as part of DMP. Shows as bad debt/collection as current status. 2/06, 6/05, and 11/01

What is the last reported date on these? DOFD? Date open?

Because these were all opened so long ago and a few of them haven't updated in a few years, personally I'd leave them be and not do anything about them at this point. No GW or anything.

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[Anonymous]

rek999 wrote:

1.       10 accounts that show payments 60 days or later. I did just pass 3 years since my last payment.

Are these open or closed? All are shown closed.

How long ago did the lates occur? Does the current status show 60 days late or they just have lates on the accounts? How many lates on each account? Are these 10 accounts included anywhere in the below accounts?

All are reflected below. The lates were all 3-4 years ago.

·         Capital One – Bad debt/collection, balance of $0. This is one of the collections.

What is the last reported date? Date of last activity? DOFD? 4/09, 6/05. and 4/05 in order.

You can try sending a GW letter. Cap One isn't very GW friendly though. When was the account opened? 12/99

·         Chase – I just PIF. Shows 120+ days as worst delinquency. Closed, CO, 4/05

·         HSBC Bank - PIF. Shows 120+ days as worst delinquency.Closed, CO, 6/05

These open or closed? Were they charged off? DOFD?

When was the accounts opened? 5/98 and 11/01

·         Verizon – I owed $112 and PIF a year ago. Showing as bad debt/collection as current status.

What is the DOFD? Last reported date? 1/05 and 10/08

Send GW letter.

·         Merrick – Showing as current bad debt/collection. This is the other collection, and was PIF. 4/08, 7/05, and 9/03

·         Chase - Showing as current bad debt/collection. This was a collection, and was PIF. 5/06, 5/05, and 5/98

·         HSBC Bank – PIF as part of DMP. Shows as bad debt/collection as current status. 2/06, 6/05, and 11/01

What is the last reported date on these? DOFD? Date open?

Because these were all opened so long ago and a few of them haven't updated in a few years, personally I'd leave them be and not do anything about them at this point. No GW or anything.

Thanks again. I appreciate it.

[Anonymous]

On regular TL that are reported by the OC and are currently closed but were opened some time ago, I wouldn't send any GW letters.

I would work on the Verizon and the collections and then re-evaluate where you stand then.

[Anonymous]

Thanks for your advice. I do not have any other open accounts, no CC's. Wondering if I should try to open a new CC.

[Anonymous]

I'd see what progress you can make doing the above suggestions first.

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rek999 wrote:
Thanks for your advice. I do not have any other open accounts, no CC's. Wondering if I should try to open a new CC.

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