I need some help with Massive Credit Repair.

Anonymous · ‎06-14-2009

During some indiscretions of my youth, I have managed to basically F up my credit report. I also basically ran from the situation and just tossed CA letters in the trash and rolled calls from 800 #'s to VMS. To put it mildly I couldn't even be financed for a cash purchase. I don't want to live like this anymore. I've seen ad's for credit repair places, but I would really like to do this myself. I have also read the threads on this board and seen what wonderful things you have all been able to accomplish. So here goes....

Transunion as of 6/12

1) Credit card in collection by CACH LLC for $607 /placed for collection 12/2007 /

2) Collection Assoc a paid medical collection that shows paid 9/2003 /placed for collection 5/2003

3) Credit One Bank (which is the credit card referenced in #1) as a Profit & Loss Writeoff

4) Federal Credit Corp /Collection Agency for a Sprint PCS cell phone (which I haven't had since 2002, but it shows placed for collection 3/2008) Past Due $635 /It shows Est date item will be removed 9/2009

5) HSBC Bank /Credit card showing closed by credit grantor for $603 /I know this is in collection because I have been getting calls about it from a new 800#

6) Verizon Wireless (This is the only one that pisses me off, because this is the only one that isn't my fault) $33 chargeoff, when I went on my g/f's plan they said they would add the amount I owed on my bill to the new account. Well by pulling this TU the other night, apparently they didn't. It's just as much my fault anyway, if I opened my mail I guess I would know about it. And as you can see by #'s 1-5 I probably wouldn't have paid it anyway.

7) Paid auto loan from 00 with 25 months paid as agreed

8) I have 4 Regular Inquires /3 Collection Agencies - My Apartment complex - and a credit card

An Inquiry Analysis from a "Professional Rec Service" Whatever the hell that is

And Account Review Inquiries from my bank when I opened a new checking account and 3 times from Arrow Financial Services and twice from NCO Financial Services.

Experian as of 6/12

Shows the same exact thing, except many different inquires. It also has a pull from a law firm, which sent me a letter a few months ago about a judgement from Asset Acquistions Corp (which I'm betting is a Citi Credit Card I had in the late '90's) offering me to settle my debt for half the cost (like $700) But if it isn't showing up on these two bureau's is this something I even need to worry about?

Equifax

It wouldn't print me out a free annual report. I believe I answered one of those "validate your identity" questions incorrectly, so I printed off the form to send a request by mail and it's in the mail.

Before you say it, I've read the Credit 101 thread several times, and I just don't know where to begin

Thank you very much in advance for anything you can help me do to make me finally feel like a normal person.

Anonymous · ‎06-15-2009

Contact the original OCs and see if they will accept payment. If they will, HAPPILY pay in full. It will cut the CAs off at the knees. The medical collection requires specific procedures I don't know about. Search HIPPA process on this board.

Lakers · ‎06-15-2009

Thank you for taking the time to respond. So if I contact the OC, and they accept payment in full, it would basically stop the CA from having anything to do with me?

ETA:

If there is username confusion, I am the OP of this thread but I forgot my original screenname that I had when I signed for myfico last year. I logged in to reply to the post and the old username popped up.

Message Edited by Lakers on 06-15-2009 08:36 AM

Anonymous · ‎06-15-2009

Yes, the OC will either call the debt back and the CA will delete or if the CA is till on your report 45-60 days after you pay in full, DV the CA and they should delete. If not, dispute with the CRAs.

Lakers · ‎06-15-2009

When I contact the OC, should I write them, or should I call them? Does it matter?

MsKiwi · ‎06-16-2009

Do not call or contact anyone just yet. First off on the cell phone from 2002 the SOL for cell phones I believe is 2 years, so they can no longer sue you. Since that is scheduled to drop off on 9/2009 I'd let that fall off on it's own.

As far as the paid medical collection, read the board marked Medical collections. Use the Hippa proccess, they can't report paid medical collections. (unless you were sued)

More importantly it would be better if you can list the DOLA or DOFD and your states SOL on these CO's. Just because an account was set up for collections doesn't mean they can collect. If it's beyond SOL, your safe as far as getting sued. If the DOLA or DOFD is beyond 7.5 years, these shouldn't be on your CR's.

Also it depends on who owns the account. Read the credit 101 thread. DO NOT do anything before you have armed yourself with info.

If you pay a chargeoff, you may reset the DOLA if sent to the oc ( I may be wrong on this part).

Message Edited by MsKiwi on 06-16-2009 05:12 AM

Anonymous · ‎06-16-2009

NA_Willie wrote:
During some indiscretions of my youth, I have managed to basically F up my credit report. I also basically ran from the situation and just tossed CA letters in the trash and rolled calls from 800 #'s to VMS. To put it mildly I couldn't even be financed for a cash purchase. I don't want to live like this anymore. I've seen ad's for credit repair places, but I would really like to do this myself. I have also read the threads on this board and seen what wonderful things you have all been able to accomplish. So here goes....

Transunion as of 6/12

1) Credit card in collection by CACH LLC for $607 /placed for collection 12/2007 /

What is the date of removal? Is this beyond SOL? Can you PIF?

2) Collection Assoc a paid medical collection that shows paid 9/2003 /placed for collection 5/2003

What is the date of removal? If placed for collection in 2003, then DOFD would be before that. DOFD on medical is date of service.

3) Credit One Bank (which is the credit card referenced in #1) as a Profit & Loss Writeoff

Is the OC reporting a balance? What do they list as removal date?

4) Federal Credit Corp /Collection Agency for a Sprint PCS cell phone (which I haven't had since 2002, but it shows placed for collection 3/2008) Past Due $635 /It shows Est date item will be removed 9/2009

I wouldn't pay this until it falls off. Otherwise, you could cause it to update and ding your score. Just my opinion.

5) HSBC Bank /Credit card showing closed by credit grantor for $603 /I know this is in collection because I have been getting calls about it from a new 800#

Is HSBC reporting a balance? What is the removal date? Is this beyond SOL? Can you PIF?

6) Verizon Wireless (This is the only one that pisses me off, because this is the only one that isn't my fault) $33 chargeoff, when I went on my g/f's plan they said they would add the amount I owed on my bill to the new account. Well by pulling this TU the other night, apparently they didn't. It's just as much my fault anyway, if I opened my mail I guess I would know about it. And as you can see by #'s 1-5 I probably wouldn't have paid it anyway.

What is the removal date? Is just the OC reporting?

7) Paid auto loan from 00 with 25 months paid as agreed

Anything negative on that? What is date closed?

8) I have 4 Regular Inquires /3 Collection Agencies - My Apartment complex - and a credit card

An Inquiry Analysis from a "Professional Rec Service" Whatever the hell that is

And Account Review Inquiries from my bank when I opened a new checking account and 3 times from Arrow Financial Services and twice from NCO Financial Services.

Experian as of 6/12

Shows the same exact thing, except many different inquires. It also has a pull from a law firm, which sent me a letter a few months ago about a judgement from Asset Acquistions Corp (which I'm betting is a Citi Credit Card I had in the late '90's) offering me to settle my debt for half the cost (like $700) But if it isn't showing up on these two bureau's is this something I even need to worry about?

Has a judgment already been filed against you? If so, when was it filed? You may need to contact your local courthouse. Some states do have this information online also.

Equifax

It wouldn't print me out a free annual report. I believe I answered one of those "validate your identity" questions incorrectly, so I printed off the form to send a request by mail and it's in the mail.

Before you say it, I've read the Credit 101 thread several times, and I just don't know where to begin

Thank you very much in advance for anything you can help me do to make me finally feel like a normal person.

Read the various links in my signature.

Lakers · ‎06-16-2009

@Anonymous wrote:

Transunion as of 6/12

1) Credit card in collection by CACH LLC for $607 /placed for collection 12/2007 /

What is the date of removal? Is this beyond SOL? Can you PIF?

Date of removal is 3/2014 ( I have no idea what the SOL is) Yes, I can PIF.

2) Collection Assoc a paid medical collection that shows paid 9/2003 /placed for collection 5/2003

What is the date of removal? If placed for collection in 2003, then DOFD would be before that. DOFD on medical is date of service.

Date of removal is 12/2009. It says nothing of DOFD.

3) Credit One Bank (which is the credit card referenced in #1) as a Profit & Loss Writeoff

Is the OC reporting a balance? What do they list as removal date?

They are reporting a balance, the $607. 3/2014 is removal date.

4) Federal Credit Corp /Collection Agency for a Sprint PCS cell phone (which I haven't had since 2002, but it shows placed for collection 3/2008) Past Due $635 /It shows Est date item will be removed 9/2009

I wouldn't pay this until it falls off. Otherwise, you could cause it to update and ding your score. Just my opinion.

5) HSBC Bank /Credit card showing closed by credit grantor for $603 /I know this is in collection because I have been getting calls about it from a new 800#

Is HSBC reporting a balance? What is the removal date? Is this beyond SOL? Can you PIF?

HSBC is reporting a balance, the $603. Removal date is 11/2015. Yes, I can PIF.

6) Verizon Wireless (This is the only one that pisses me off, because this is the only one that isn't my fault) $33 chargeoff, when I went on my g/f's plan they said they would add the amount I owed on my bill to the new account. Well by pulling this TU the other night, apparently they didn't. It's just as much my fault anyway, if I opened my mail I guess I would know about it. And as you can see by #'s 1-5 I probably wouldn't have paid it anyway.

What is the removal date? Is just the OC reporting?

Removal date is 6/2015. Just Verizon is reporting, but in the "pay status" section it says "Charged off as a bad debt"

7) Paid auto loan from 00 with 25 months paid as agreed

Anything negative on that? What is date closed?

Nothing negative, I was just posting everything on the report. The wierd thing is in the "pay status" section it shows "paied or paying as agreed" but the date updated is 8/2000.

8) I have 4 Regular Inquires /3 Collection Agencies - My Apartment complex - and a credit card

An Inquiry Analysis from a "Professional Rec Service" Whatever the hell that is

And Account Review Inquiries from my bank when I opened a new checking account and 3 times from Arrow Financial Services and twice from NCO Financial Services.

Experian as of 6/12

Shows the same exact thing, except many different inquires. It also has a pull from a law firm, which sent me a letter a few months ago about a judgement from Asset Acquistions Corp (which I'm betting is a Citi Credit Card I had in the late '90's) offering me to settle my debt for half the cost (like $700) But if it isn't showing up on these two bureau's is this something I even need to worry about?

Has a judgment already been filed against you? If so, when was it filed? You may need to contact your local courthouse. Some states do have this information online also.

I took the 30 day free trial of the scorewatch and it shows that I have no judgements.
Equifax

It wouldn't print me out a free annual report. I believe I answered one of those "validate your identity" questions incorrectly, so I printed off the form to send a request by mail and it's in the mail.

Before you say it, I've read the Credit 101 thread several times, and I just don't know where to begin

Thank you very much in advance for anything you can help me do to make me finally feel like a normal person.
Read the various links in my signature.

Also, what are your thoughts on purchasing the scorewatch from this website. I have read several threads about it not updating or doing things as promised. I'm going to give it the free trial, just to check it out. In this free trial it said my Fico is a 504 but then on the "Score Simulator" thing it said: "Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months" and Your simulated FICO® score would be in the following range: 684 - 724. 1) I know it will take time, but I was hoping less than two years 2) I don't understand why they call them Credit Card balances when they are in collection? 3) I am willing to do ANYTHING to be over 700. Any help will be greatly appriciated.

Also, are SOL in the state where I opened the account, or the state I currently live?

Also, should I update my current address on my credit report?

Thank you very very much for your time. It is invaluable to me.

Message Edited by Lakers on 06-16-2009 11:29 PM

Message Edited by Lakers on 06-16-2009 11:36 PM

Message Edited by Lakers on 06-17-2009 12:18 AM

Anonymous · ‎06-17-2009

Score Watch was useful to me when I was in the process of repairing my credit like you are now.

Now that I am done, it isn't helpful and I cancelled.

Anonymous · ‎06-17-2009

Lakers wrote:

Experian as of 6/12

Shows the same exact thing, except many different inquires. It also has a pull from a law firm, which sent me a letter a few months ago about a judgement from Asset Acquistions Corp (which I'm betting is a Citi Credit Card I had in the late '90's) offering me to settle my debt for half the cost (like $700) But if it isn't showing up on these two bureau's is this something I even need to worry about?

Has a judgment already been filed against you? If so, when was it filed? You may need to contact your local courthouse. Some states do have this information online also.

I took the 30 day free trial of the scorewatch and it shows that I have no judgements.

So, is the CA/law firm suggesting they are going to sue for a judgment?

Read the various links in my signature.
Also, what are your thoughts on purchasing the scorewatch from this website. I have read several threads about it not updating or doing things as promised. I'm going to give it the free trial, just to check it out. In this free trial it said my Fico is a 504 but then on the "Score Simulator" thing it said: "Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months" and Your simulated FICO® score would be in the following range: 684 - 724. 1) I know it will take time, but I was hoping less than two years 2) I don't understand why they call them Credit Card balances when they are in collection?

Closed accounts(reported by the OC) with a balance are still calculated in util most of the time. Once the balance is $0, they are not calculated into util any longer.

3) I am willing to do ANYTHING to be over 700. Any help will be greatly appriciated.

Also, are SOL in the state where I opened the account, or the state I currently live?

Check state statutes for both states, because it is likely they can sue in either. What I have found is a lot has to depend on what state you defaulted in and whether the state you moved from tolls SOL or not.

Also, should I update my current address on my credit report?

I would and I would also opt out.

Thank you very very much for your time. It is invaluable to me.

For accounts where the OC is reporting a balance, they likely still own the account. Try negotiating with them to pay in full if they call the debt back from the CA.