04-28-2012 08:59 AM
04-28-2012 10:40 AM
I have a baddies on my cr from 2007 that is paid, I would like to send a GW letter however I have no idea what it was for and since it's from 2007 I am guessing it isn't affecting my score that much, am I right? How do I find out what this debt was for? I don't even remember if I paid the ca or the oc. I also wanted to know how many letters have pp sent to CA's before they finally got a response?
What kind of negatives are you talking about? Collections? Charge offs? Since you mention they are paid then I assume that's what you mean.
Are all of them from 2007?
How many are there? FICO looks not only at the severity and recency of negatives but also how many are reporting at any one time. And even though all negatives will lose impact as they age major derogatories such as CO's, collections, 90+ late payments, etc. will hurt the entire time they can report.
04-30-2012 02:25 PM
GW and PFD are good for OCs.
For CAs and CRAs you want to use the DV process. You want to ask them to verify the debt, and then when they don't, tell them tehy need to delete the record from the CRA or they are in violation of the FDCPA.
Meanwhile you can approach the OCs and negotiate resolution.
A nice advantage of this is OCs want to work with you and would rather get the money you owe them than a fraction of it from the CA.