I've been fine tuning our CR repairs and am getting ready for the letter writing processes. I just have a couple of questions to make sure I can take advantage of what good I have.
1. All my mortgage entries are perfect. My oldest record is a mortgage record and it has been given a date to be deleted from the CR. Does it have to be deleted? It goes back to 1976.
Not all the CRA are showing this entry, and a couple are not showing a second mortgage from the 1990's. Should I add these and if so, does it get added in the FICO scoring, or just shown on the report?
2. SOL in IL is 5 years from the bankrate thread included in the forum. I'm to understand that medical SOL is 4 years? If an unpaid CC collection is past the SOL, but not past the CRTP date, do I dare attempt to get this off their report?
3. I have med collections, 2 paid, 1 to come off 01-09, all past the SOL from the same CA- should I get them off with the HIPPA process, or leave them alone. I'm trying to get my collections reduced.
4, I'm a little confused on AU - I'm on DH's Discover as AU - it provides age and shows on my CR. I was thinking that I could improve my score by having DH obtain a couple of CC via his better score and be shown as AU. I'm hearing that won't count on my score, is that true? Otherwise, I'll try to get at least one CC on my own but may need to be secured - score not good at all. 
5. Was wondering how this would work? I have 2 med collections with the same CA and am waiting for one pass SOL, but would be willing to pay the OC, but cannot afford the PIF, on the other one, especially to get this off report. Can I do the HIPPA letter with an offer to make payments to them? I'm afraid they'll just send the money to the CA and they'll update my entry on the CR. Which is best, at least pay someone? I'm doubting the OC will work with me, as they sent bill to collection one day past date told for a payment to be made.
6. DOFD - how does this affect SOL?
I have some GW letters for a couple of creditors. Otherwise, I believe time is my only option to improve my score.
This is a tedious task - I've gone over everything at least 3 times and then have doubts. I'm trying to keep the faith. I feel better knowing I'm trying tho. Thanks for your ongoing support and excellent information!!!!
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Accepted Solutions
THANK YOU - THANK YOU -
This process consumes me and I can't afford to go backwards, but it I were to, now would be best.
Sure could use some advice from some seasoned veterans...
@Anonymous wrote:I've been fine tuning our CR repairs and am getting ready for the letter writing processes. I just have a couple of questions to make sure I can take advantage of what good I have.
1. All my mortgage entries are perfect. My oldest record is a mortgage record and it has been given a date to be deleted from the CR. Does it have to be deleted? It goes back to 1976.
NO!!! DON'T TOUCH IT. I'd give anything to have an account that old on my CR. Items that are good will fall off 10 yrs from the date it was closed. If it is past 10 yrs, then leave it. Does it show a deletion date? When was it closed?
Not all the CRA are showing this entry, and a couple are not showing a second mortgage from the 1990's. Should I add these and if so, does it get added in the FICO scoring, or just shown on the report?
If it is on the report it gets factored into scoring. If the account is open, there may be a couple things you can do to get it added. If closed, you likely won't be able to get it added.
2. SOL in IL is 5 years from the bankrate thread included in the forum. I'm to understand that medical SOL is 4 years? If an unpaid CC collection is past the SOL, but not past the CRTP date, do I dare attempt to get this off their report?
I'd get it off. But follow the HIPAA process, or at least consider it.
3. I have med collections, 2 paid, 1 to come off 01-09, all past the SOL from the same CA- should I get them off with the HIPPA process, or leave them alone. I'm trying to get my collections reduced.
I'd personally wait if a CA or other baddie were to fall of in less than 6 months. You could always pursue it later if you want to get rid of the debt.
4, I'm a little confused on AU - I'm on DH's Discover as AU - it provides age and shows on my CR. I was thinking that I could improve my score by having DH obtain a couple of CC via his better score and be shown as AU. I'm hearing that won't count on my score, is that true? Otherwise, I'll try to get at least one CC on my own but may need to be secured - score not good at all.
Not true. FI had decided at one point to stop considering AUs in scoring with FICO08. They have since backtracked and your account will continue to be counted.
Focus on repair. You have one CC so getting the second shouldn't be that bad. I bet with aggressive repair you could hit into the 600s. You may have an issue if that Discover's utilization is high.
5. Was wondering how this would work? I have 2 med collections with the same CA and am waiting for one pass SOL, but would be willing to pay the OC, but cannot afford the PIF, on the other one, especially to get this off report. Can I do the HIPPA letter with an offer to make payments to them? I'm afraid they'll just send the money to the CA and they'll update my entry on the CR. Which is best, at least pay someone? I'm doubting the OC will work with me, as they sent bill to collection one day past date told for a payment to be made.
I am weak on the HIPAA process.
6. DOFD - how does this affect SOL?
SOL goes by state law and usually starts at DOFD on unpaid, untouched debts. DOLP enters the picture for most states in that if a payment is made, DOFD no longer matters and the SOL clock restarts.
For example I was reading once a bizarre story not long ago of some sort of debt owed to a family dating back to the mid-1800s. Some how the debtor's family discovered the item or whatever it was that had a debt attached to it and publically admitted to their find. Anyway the debtor's family made a kind gesture and paid the org. debt 150 yrs later. The SOL clock restarted and the family owed the money sued the other family for back interest running into a million plus and they won. So, even if SOL has past, the clock can possibly restart. I need to refind what I found.
I have some GW letters for a couple of creditors. Otherwise, I believe time is my only option to improve my score.
This is a tedious task - I've gone over everything at least 3 times and then have doubts. I'm trying to keep the faith. I feel better knowing I'm trying tho. Thanks for your ongoing support and excellent information!!!!
THANK YOU - THANK YOU -
This process consumes me and I can't afford to go backwards, but it I were to, now would be best.