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Starting from 0

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Anonymous
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Starting from 0

Hello All,

New to the forum, came here for some advice. I have completely destroyed my credit score since the age of 18, 23 now. My only justification is that I was self supported since 17 and had no choice but to run up debt. Now a college grad with a great job, I am finally ready to pay off everything that I owe. Ironically enough my undergrad is in economics and finance.  I have a total of 15 collection totalling $12000. Mostly all credit cards and I do have one judgement for a voluntarily repoed vehicle which has not been paid off as of yet. I have paid 3 of my collections off already and I was lucky enough for the creditors to remove the collection off the credit report all together. Right now I am dealing with another collection that holds 3 different accounts for DC DMV (unpaid parking tickets that went to collection). I was reassured by the third party collector that they will remove the collections once they are paid off. I am paying directly to DC DMV rather then the collector, I feel that I will have more leverage in getting them to live up to their word. My question is now that I will have 6 out of 15 collections off of my credit report, will it raise my score at all? I have a secured credit card ( little balance) and secured loan (reported as unsecured) through my bank to help reestablish credit, also 2 government education loans that are in good standing. Any advice or suggestions? Sorry for the long read

Message 1 of 4
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Anonymous
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Re: Starting from 0

I can attest to the DC ticket collection agency removing the item from your credit report once paid.  They removed mine in about one month.

 

Here is the quote from their website:

 

If I pay a ticket that has been listed with a credit bureau, will my credit file be cleared?Normal practice in the credit reporting industry is to retain a reported debt in history for a period of seven years, even if a debt is paid during this period. However, in the interest of our customers, we have requested the collection agency (Professional Account Management L.L.C.) to automatically send a delete record to the credit bureaus whenever a collections account has been paid in full. Therefore a record of your delinquent ticket debt should disappear from credit bureau records once the payment is received. As a record of payment is sent from the collection agency to the credit bureaus on a weekly basis, and because a record of your payment may need to be communicated to other credit reporting agencies which did not receive the primary listing, you should allow a reasonable period of time for all records to be cleared. All communication concerning the status of your tickets with credit bureaus should be directed to Professional Account Management, L.L.C. (866) 353-7145.  

 

http://dmv.dc.gov/about/faq5.shtm

 


Message 2 of 4
Anonymous
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Re: Starting from 0

You are the best, THANK YOU!!!

Message 3 of 4
Anonymous
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Re: Starting from 0

You're welcome. I paid the collection agency directly.
Message 4 of 4
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