New to Forum

[lto76]

I am new here. I view my credit scores and my report. I checked off the items that I am going to dispute. How do I know when certain items will be removed from my report? I was reading some of the other forum and people were saying even if I pay the negative owed amounts on my report that my score may not raise.  How should I go about paying the items in full? Should I start with the least amount or greater amount? I am trying to get some help in how to raise my credit score.

Thanks

[newstart2010]

Welcome to the forums!

You have it right.  First pull your reports from annualcreditreport.com, and get yours scores from here.  Then look at all the baddies and post them here without your personal info attached if you feel comfortable doing so.  Then we can help you to figure out what to do with each one.  You will start with DV letters, then offer PFD so that paying results in the deletion of the trade lines.  You will start with the latest debts and take of those first if possible.  That will help your score the fastest.

[lto76]

Here are all of the collection accounts listed.

Collection on debt to: 01 Ffpm Carmel Holding I LlcThe collection agency "Rcvl Per Mng" was hired to collect a debt of $739 originally owed to "01 Ffpm Collection on debt to:

05 Apex AlarmsThe collection agency "Acacollect" was hired to collect a debt of $2,399 originally owed to "05 Apex Collection on debt to:

10 Verizon IncThe collection agency "Afni" was hired to collect a debt of $250 originally owed to "10 Verizon Inc" on Collection on debt to:

10 SprintThe collection agency "Afni" was hired to collect a debt of $116 originally owed to "10 Sprint" on account Collection on debt to:

11 Rcn Company Code 43The collection agency "Corporate" was hired to collect a debt of $170 originally owed to "11 Rcn Collection on debt to:

 Premier Bankcard Inc

The collection agency "Arrow Fincl" was hired to collect a debt of $408 originally owed to "Premier

Carmel holding & Apex Alarm - I am going to dispute those.  I have another collection from Verizon for $61. I would like to first pay the 2 collection account from verizon for $250 & $61.  If you think i shouldn't please let me know.

Any other information you have i would appreciate

[newstart2010]

DV the accounts with AFNI.  They seem to be deleting everyone that DV's them lately.  So start with that, as well as snding DVs to everyone else to get the current status, accurate account number, and see if they can actually verify the debt before paying them.  You send the DV letter directly to them, not to the Credit Reporting Bureaus.

After you get the DVs back and you know what has been removed and what has not come back on here and post what is left and when they are expected to be removed from your credit.  That will help us in telling you what you should focus on sending PFDs to first.

Don't call, do everything in writing.  Never call.  And while you are waiting for responses do some studying on here and get as much info as you possibly can.

[lto76]

Thanks i will start that process.

[RobertEG]

Sure, you can DV the CA, but I am not a big advocate of the DV process as a first line of attack for cleaning up a credit report.  And here is why.

First, and foremost the CA never has to respond to a DV request.  That is not what FDCPA 809 is all about.  The primary intent of the DV process is to require the CA to cease active collection activity until such time, of their choosing, they choose to provide verification.

Second, if you dont DV within 5-days of collection notice to you, then you have no enforceable DV rights under FDCPA 809(b).

Third, a DV request is not a dispute of credit reporting. 

How to pay the debt, thus, IMHO, has little or nothing to do witht he DV process.

FICO scores the appearance of prior delinquencies in your credit report.  Paying a debt does not remove the prior delinquency on the debt.  So, no, paying wont remove it from credit scoring.  It just settles the debt.

If you are seeking removal from your CR, and thus from credit scoring, you can go the route of a pay for deletion (PFD) offer.  This must be made and agrred to by the CA in advance of any payment to them.  But a PFD offer is just a conditional offer, and they can just trash it with no consideration or response back to you.  The greater amount you offer in a PFD offer, the greater your chances are of their acceptance, but of course the more it costs you out of pocket.  So no one can really answer your question except for the CA.  But if they accept, it is under conditional terms that they agree to delete the CA from your CR. 

And be aware that asking a CA to delete their prior credit reporting in exchange for payment is asking them to violate the credit reporting guidelines they have agreed to in their credit reporting agreement. The credit reporting manual issued by the CRAs has specific instructions to the CAs that they are not to delete their collection account reporting based on payment of the debt.

Another factor to consider is the statute of limitations on the debt.  IN smplistic terms that vary under your state SOL statute, if the CA chooses not to accept any of your terms short of full payment, they can file legal action to recover the debt.  Under whatever your state SOL law is, you can raise as a legaL defense against their debt collection suit the fact that the SOL has expired.  That does not prevent them from suing, and you must show up in court to assert your SOL defense.  So you need to know your state SOL law inside and out, and provide legal evidence to the court that the SOL has expired.

You can do this yourself, but best to get an attorney.

If the CA thinks that the SOL is about to expire on collection of the debt, or has already expired, that increeases your chances of getting their acceptance of your PFD offer.  In their mind, better something than nothing.

These are all considerations that I dont wish to confuse you with.  But simplistic answers to complicated questions dont tell you the full scope.

Only you can decide.

Message Edited by RobertEG on 02-09-2010 07:20 PM

Message Edited by RobertEG on 02-09-2010 07:26 PM

[newstart2010]

While RobertEG should always be listened to because he is super knowledgable and has been here for a long time doing this, I have to respectfully partially disagree in this case. 

DVing does not replace a PFD.  It is, IMHO, the first step in this process.  Mainly because I see DVing as a way to make sure you will be sending the PFD to the right company, and make sure you have all the appropriate information.  Will they answer?  50% won't.  But those that will might validate and send you a complete amount of info to work with, and some may completely remove because they find the debt uncollectable.  This just eliminates a few possible questions left out there with those that DO respond.  Those that do not respond, you jsut move forward to the next step, which is the PFD process RobertEG is talking about.

DVing does not mean you will not pay, although I did recommend you send a DV to AFNI jsut because lately they seem to not be able to verify anything and are dropping accounts like crazy.  I have found the DV process to be helpful to get complete account numbers, current totals, and to open  a line of communication with the CAs to let them know you are starting this process and mean business.  Its also a great time to send your "lets talk through mail, not phone" line so they continue to work with you, but quit calling you.

Message Edited by newstart2010 on 02-09-2010 10:32 PM

[lto76]

Ok..now i am confused. I appreciate your opinions and it got me to thinking. Correct me if i am wrong..but if i dispute the line items with CRA isn't that the same as me doing a DV letter?

now if i dispute with CRA and they cannot provide the CRA with info, then CRA will delete this information right?

if i send a DV letter then may not respond...or they may respond and delete the information but they can always put the information back on my CR correct?

[newstart2010]

NEVER dispute anything with the credit reporting agencies that is not legit.  you want to fully exhaust all avenues with the collection agencies first, then if they do not fix the issues with the credit reportss you can write to a CRA (mail is better than online so you can submit your proof) and dipute any incorrect information you might have on there.  But to dispute legit information, or even partially legit info, will come back to bite you.

They may not respond to a DV.  They may not respond to a PFD.  Its your only chance, however, to get the trade line removed before you pay it.  And to clean up your credit eventually you will have to pay it.  So basically look at it like this.  

You are going to pay it.  These tactics are ways to try and get things removed before you pay them.  If they don't work, then you are no worse off than before.  If you go on a geurilla tactic and dispute everything you don't like on your reports, you will find yourself with worse info on there, a credit bureau that will never take your isputes seriously, added fees to your collection accounts, etc.  And you will still need to pay them.

[lto76]

Thanks newstart...