How should I proceed- unable to get report, pfd question, etc

[Anonymous]

I'm beginning the journey down the credit rebuilding road, but I've only just started and have already hit a wall. I'm unable to retrieve my credit report. I purchased the standard package here at myfico, only to receive a notice that the report could not be delivered because:

"Not enough information in the file to calculate a FICO® score (At least one account that has been open for six months or more, at least one account that has been updated in the past six months)"

I then tried using annualcreditreport.com, only to be told something similar (I forget the exact reason). I might have already requested a free report in the past year.

So my first question is, what's the best way to go about getting my reports? Should I contact each agency individually, or should I use a service such as freecreditreport.com or triplecreditscore.com? 

I have a rough idea of what's in my file; I can remember a few things from when I last saw my report. I just need the relevant agencies/contacts to start sorting things out. IIRC, the main issues are:

~$1500 owed for breaking a lease. It's about 5 yrs old I believe, and at one time I received a letter from a lawyer intending to sue. 

~$300-500 for medical bills. I can pay this off in full.

I think there is also a tax lien for roughly $500. I'm not sure if I ever paid this one.

Considering the above items, my next question is- would a PFD be suitable? My understanding is that PFDs are often used to negotiate an agreement to pay less than the full amount. Is that correct? If possible I'd rather do that for the $1500 debt. 
By using a PFD, am I inviting the debtor to just ignore it and come after me for the full amount? Is it a risk worth taking?

Lastly, should I get a secured credit card so that I have some current activity on file? Is there a secure CC that you can recommend? I assume if I open one, I'll still need to wait 6 months to be able to see my score- or is there another method by which I can obtain it?

[llecs]

Welcome to the forums!

If you don't have any open TLs then you won't be able to pull a FICO score. You should be able to pull a report via other sources like annualcreditreport.com or freecreditreport. IMO, skip both and go directly to the website of each CRA. For a small fee, you can pull each report (don't buy the scores). Maybe there was an identity issue by which they couldn't verify you. You can also try calling them.

Don't do anything at all until you can see your report. There's no sense in sending PFDs if they aren't reporting.

For the lease, if you know it is reporting, you can send a PFD for 100% or a settlement. What Steps Do I Take  is a great link for fixing your credit. But don't do anything if inside SOL or if you don't have the $$$ to PIF. If you offer less, and don't have the $$$ to PIF, they can opt to ignore the PFD and sue you for the full balance. Also, they may not be reporting and the CA may be reporting instead. Figure out who is reporting first.

Use HIPAA for the medical CAs.

The CRTP clock starts ticking once you PIF. You can't PFD the government.

I'd suggest a secured card at some point. You'll get a boost. If married, have a spouse add you as an AU on a good, clean card. You'll get an instant score since the history is transferred.

[Anonymous]

Thanks for the information. I got my Experian report and have a few questions-

Aside from my legal name, there is an AKA listed. The spelling of the last name is different, but it is something I've never used. Maybe it was an incorrect name on file with a past creditor, but there are none on my report that could have possibly been under that name. Is that hurting me? I'm disputing it through Experian regardless.

There are 3 old addresses (my current is not listed) and a very old former employer (again, current not listed). Are those items only updated when a new account is opened with the current information?

First TL is a state tax lien, which is listed like this:

State Tax Lien Released
Date Filed: 11/16/2007
Liability: $532
Asset: (blank) 

What does ''tax lien released'' mean? Does that indicate I still owe? Can this be removed if it is paid, or if I PIF?

The next two TL are from the same creditor, paid in full, opened on the same date, same term, paid satisfactorily but the account numbers are different. I'm not sure what's up with that. I'm 100% certain I've only had one credit line open with this agency.

The next TL is from what I believe is an outstanding medical bill, $416. I can pay this in full. In the reply to my first post it was suggested to ''use HIPAA''. What exactly do I need to do?

The last item is from the broken lease I mentioned, in the amount of $1975. I don't plan on doing anything with this until I can PIF, probably at the end of the year.

What about student loans? Do they not show up on a credit report? I defaulted on mine long ago, and for the past several years my tax refunds have been taken as payment for them. I'm currently waiting to receive my student loan PIN so I can access my balance and stuff online.

With all that considered, Experian gave me a score of 578. I know that's not my true FICO score but at least I have something to work with now.  

I need to get a new car, but I'm afraid all of this kills my chances for that.

Message Edited by isaboo on 07-19-2009 12:10 PM

[JoeBJay20]

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@Anonymous wrote:
Thanks for the information. I got my Experian report and have a few questions-

Aside from my legal name, there is an AKA listed. The spelling of the last name is different, but it is something I've never used. Maybe it was an incorrect name on file with a past creditor, but there are none on my report that could have possibly been under that name. Is that hurting me? I'm disputing it through Experian regardless.

There are 3 old addresses (my current is not listed) and a very old former employer (again, current not listed). Are those items only updated when a new account is opened with the current information?

First TL is a state tax lien, which is listed like this:

State Tax Lien Released
Date Filed: 11/16/2007
Liability: $532
Asset: (blank) 

What does ''tax lien released'' mean? Does that indicate I still owe? Can this be removed if it is paid, or if I PIF?

Released means it's been paid.  Tax liens come off your report 7 or so years after being paid.  If you don't recall paying it chances are they garnished it from your tax refunds.  You should check you state's statutes, some will withdraw a lien after it has been satisfied.

The next two TL are from the same creditor, paid in full, opened on the same date, same term, paid satisfactorily but the account numbers are different. I'm not sure what's up with that. I'm 100% certain I've only had one credit line open with this agency.

If there are no late payments with this tradeline, then leave it alone, you have a reporting glitch that works in your favor. 

The next TL is from what I believe is an outstanding medical bill, $416. I can pay this in full. In the reply to my first post it was suggested to ''use HIPAA''. What exactly do I need to do?

Google for the WhyChat HIPAA process, and follow the instructions therein.

The last item is from the broken lease I mentioned, in the amount of $1975. I don't plan on doing anything with this until I can PIF, probably at the end of the year.

Is this account past SOL?  DOFD?  You want to negotiate a PFD for this if possible, but you're right for not doing anything with it before you are prepared to PIF.  You don't want to wake up a sleeping giant.

What about student loans? Do they not show up on a credit report? I defaulted on mine long ago, and for the past several years my tax refunds have been taken as payment for them. I'm currently waiting to receive my student loan PIN so I can access my balance and stuff online.

Generally yes, but it could depend on who owns them currently, as they may or may not report to all three CRAs, or may not report at all.  Student loans can generally be rehabbed back to current status, you should call the creditor and ask about its rehab program.  

With all that considered, Experian gave me a score of 578. I know that's not my true FICO score but at least I have something to work with now.  

I need to get a new car, but I'm afraid all of this kills my chances for that. 

Yes you chances of getting a car loan are probably pretty slim, you would probably be better served if possible to save up and buy a solid used car.  As Ilecs suggested, you would be helped by getting a secured CC, and/or becoming an AU on a spouse's or close family member's CC, one that has a clean history.

Message Edited by isaboo on 07-19-2009 12:10 PM

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[llecs]

Per your name, don't worry about it unless you suspect fraud (e.g. see accounts that aren't yours) or if that incorrect name is your current name. It is very possible that a CSR somewhere mistyped your name into their system at some point in time and that CCC or whatever it was reported. I'm a guy and I have about 11 names to my name. I ignore all of them.

Like with the names, ignore the former employers. I have a couple including one that is simply "S".