Rebuilding Your Credit

[babygirl]

I recently paid off a medical collection debt.  Can I ask to have it deleted?  If so, how do I do that?

[Timothy]

Send a GW letter.

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babygirl wrote:

I recently paid off a medical collection debt.  Can I ask to have it deleted?  If so, how do I do that?

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[upanddown]

The previous message was a reply to rweich

[Timothy]

Use a PM-  This did not belong in the Forums.

 

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upanddown wrote:

The previous message was a reply to rweich

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[upanddown]

To rweich

I sent a reply to your message that was deleted, don't know why.  Sorry.  Guess can't give personal help.

[Matt633]

I'm new to this so can someone tell me what "util" means and how that works?

[RevPat]

I won't be part 'tof the 700 Club because God doesn't need to panhandle & I can't bribe Jesus into improving my FICO score! 

[notfromarizona]

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jwintexas wrote:

did you ever get any answers to your questions about sell-offs to other collection agencies?

I have experienced this and when I write to the credit bureaus it doesn't seem to have any effect so I have two negatives for the same collection?

Pls. advise if you ever got any insights.

thanks,

jwintexas

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The credit bureaus are not in business to help the consumer - they're in business to help the lenders. By keeping your score low, the lenders can charge you a higher rate. If you write to the credit bureaus they will blow you off (been there, done that). You need professional help with this. Hire a reputable company that deals with this type of thing. I don't mean a company like CCC. The credit bureau industry was designed to hurt, not to help, the consumer. Stay away from credit, unless you're buying a house or a car, and even then you need to shop around for the lowest possible rate. Have a credit card or two (or three) if you must but pay them off in full every month. If you don't have the money to do this, don't buy anything! This is a game and you need to know the rules.

[sh9730]

Wow, what a thread.  Goes in about a hundred directions and is mostly spreading innacurate information.  I see many posts in this thread from newbies, which is GREAT by the way, but some of you really need to do some more reading first.

Paying off a collection MAY or MAY not affect your score up or down.  There are many examples where paying an older collection will reset the DOLA and give you a score DROP. But this is only relating to FICO score.  All this stuff about the debt being there another seven years and such is WRONG!  Now, as is discussed in other threads, sometimes CAs will try to make it look like that is occurring, and this is called "illegal re-aging" (do a search for it!), but it is NOT legal.  A debt can only appear on your report twice, once from the original creditor and once  from a CA. Also, if the OC chrages off the debt and sells it to a Junk Debt Buyer they must report ZERO balance! 

And in ALL cases, the debt must be completely removed 7-7.5 years (except for BKs etc.) from the DOFD!!    I dont know how to make it any more clear than that!

[phoenix_gurl]

Hi there, I am new and have been reading the forums and I am completely at a loss as to where to begin. I am ashamed to say that my scores are 422 or so across the board and I do not know how to use the credit watch features accurately and how to make any of the really old debt go away. I was told to dispute everything on Experian and on Equifax and say it is over 7 years old for some and yet the items keep getting re-reported due to being sold to collections. I want to pay off what I need to increase my scores but I am a single mother of 11 years with one small income and 2 small children. I need real help and honestly if I do not get this credit cleared up by Feb of next year i will have to move my children again as the house I am in now (renting) will be sold. This will be the third time for us that this has happened. I am ashamed that I have not been able to bring my head out of the sand and address these credit issues before - but I was wondering how I could get someone to look at my 2 credit reports I currently have and tell me where to start and what to pay as I only have about 1500.00 to settle with and now I am not sure this will even help. I am so lost and so alone in this that your forum has given me a bit of hope and I need so much guidance. Do you think it is possible to get my score up to mortgage par in less than a year?? Or even close?? I was so naieve to think I could just settle these accounts and get them cleared and move on - it has been a battle of futility since I began in January and the months are spinning by with no progress! Any help would be great! Teresa