Rebuilding Your Credit

[solavi3]

Hi All,

I've been reading all the boards for a while and at first I was overwhelmed with the diligence required to rebuild your credit - kudos to all of you who have done it!!. It is because of you that I finally have the guts to tackle this project myself after many years of paying so-called repair companies only to accomplish next to nothing. My DH and I want to purchase our first home by Feb next year and really need to work hard on the negatives on our reports. My scores are in the low 600's and his are slightly lower.

I have read through credit 101 and other posts and I think i have my stuff in order to begin my rebuild process but I have a few questions if anyone can help i would appreciate it very much!

I have reviewed my and DH credit report and everything seems to be reporting accurately, negatively but accurate. I have many collections from 2002-2004 that I will now attempt to PFD. I was wondering if anyone has had any experience with Asset Acceptance, Progressive Management and Arrow Services in deleting collections for payment? Also, is PFD the first step I should take in making contact with the CA's?

Any help is greatly appreciated!!

[gordonbs]

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solavi3 wrote:

Hi All,

I've been reading all the boards for a while and at first I was overwhelmed with the diligence required to rebuild your credit - kudos to all of you who have done it!!. It is because of you that I finally have the guts to tackle this project myself after many years of paying so-called repair companies only to accomplish next to nothing. My DH and I want to purchase our first home by Feb next year and really need to work hard on the negatives on our reports. My scores are in the low 600's and his are slightly lower.

I have read through credit 101 and other posts and I think i have my stuff in order to begin my rebuild process but I have a few questions if anyone can help i would appreciate it very much!

I have reviewed my and DH credit report and everything seems to be reporting accurately, negatively but accurate. I have many collections from 2002-2004 that I will now attempt to PFD. I was wondering if anyone has had any experience with Asset Acceptance, Progressive Management and Arrow Services in deleting collections for payment? Also, is PFD the first step I should take in making contact with the CA's?

Any help is greatly appreciated!!

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DV any CA on your CR. Be aware of SOL. They might sue.

Consider going to the OC and finding out if they still have the account and/or can pull it back from collection. If OC will work with you, try PFD OC.

[solavi3]

Thanks Gordonbs!

Where can I find a DV letter sample? Also, would you know what board I can find SOL info for CA?

[llecs]

SOL by state:

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Here's a DV example:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=101123&query.id=67...

I disagree with some of the DV letters in here as the FDCPA doesn't require most of the stuff listed in it, but it has worked for many in here.

[solavi3]

can I use a DV only in response to a CA's letter?

What if I didn't receive a letter and I want to verify based on what i see on my credit report can I still send them a DV letter as a 1st step?

Thanks!

[llecs]

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solavi3 wrote:

can I use a DV only in response to a CA's letter?

What if I didn't receive a letter and I want to verify based on what i see on my credit report can I still send them a DV letter as a 1st step?

Thanks!

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Doesn't matter if you received a letter or not, you can still DV. If you did get a letter and you got it within the past thirty days, then mention that. Otherwise, don't mention when you received a letter. If you did not receive a letter, then edit the letter to mention something like "I pulled my credit report today and under the FDCPA....." or something like that. Don't mention a letter if you didn't get one.

DV is always the first step. However, keep an eye on SOL and expect an increase in collection activity by doing this.