02-16-2010 02:10 AM
02-16-2010 06:17 AM
Hi, I was overlooking me and my husbands credit reports and realized he has three lines that will be coming up on the seven year mark this summer. How do I do about getting those old items removed? Are there any sample letters that I may be able to use? What information should be included? In addition I did a search on myfico for credit cards for those with poor credit. Does anyone have any recommendations for the best secured credit card? I would like one with a high limit availability,reporting to the three major credit bureaus, and a card where my husband and I can be on the same account, but this is not necessary. Also, has anyone done business with First Premier Bank, Web Bank, Salute Visa or collection agencies Jeffersncp or Genesis? How are they with accepting PFD's? I have really, really late accounts with them, but would like to pay them off and have them deleted. Any advice or suggestions would be greatly appreciated. This year I am working to improve my credit seriously so I could buy a home in five years. I also have a ton of medical bills due to multiple sclerosis and other health issues. If accounts are four and five years old should I wait until they drop off at the seven year mark?
If negative, the baddie aspects or the whole TL will drop automatically typically by the 7 yr mark. By law they have up to 7.5 yrs.
If these are paid OC accounts, IMO, do nothing. Removing old OC accounts could result in a drop in score, even with lates reporting. I'd keep an eye on it though and make sure the lates drop as scheduled. If these are unpaid, I'd check to make sure you are out of SOL before doing anything. To facilitate its removal you can either PIF and then send a GW letter or send a PFD. Again, if the TL is old I wouldn't touch it.
If this is a CA, don't worry about the age. You'd want it off. If paid, send a GW letter asking them to delete. If unpaid, send a DV letter. If they respond and you agree, then send a PFD letter. Before doing anything on unpaid debts, make sure you are out of SOL first. If not, make sure you have the $$$ to PIF if you had to. Last thing you'd want is a lawsuit.
In any case, there are example letters found in the thread stickied that says "Frequently requested threads" or something like that.
If you have CCs, open, already, I wouldn't add anything until you have all of your baddies removed. If no open CCs, then you may benefit from adding one. IMO, go with a secured card as your first. I started with two: Orchard and BofA. If I had it to do over again, I'd skip BofA (bad CCC these days). But Orchard was great to deal with.
I never dealt with the companies you mentioned per PFDs. I sent GWs to First Premier for lates once and got a "no way we are removing anything" type of response. But at the time the lates were nearly 7 yrs old and they fell off pretty quickly.
If closed and reporting a balance, you can try sending a PFD. Never hurts. Make sure your SOL expired or make sure you have the $$$ to PIF before doing anything. You wouldn't want them to reject your offer and sue instead. For the CAs, send a DV first, and get a response, before sending a PFD.
Per the medical, google "HIPAA Process" and you'll find some info. You won't find any specific info in here.