Rebuilding Your Credit

[Wonderin]

First of all, we became current on all loans near the middle of last month ... when is the norm for the CRAs to update? Does it depend on the creditor? If so, what is the normal time-frame for creditors to update? Our loans' due dates are approximately the 21st (became current prior to), and the 24th (again, became current prior to).

Also, we paid a tax lien off ... when does that normally update?

Secondly, as I mentioned above, we just paid off a tax lien. The man at the MD income tax office said that once we paid off the lien it would *deleted* from our CRs with the CRAs ... that we should dispute it and if it's paid, their office won't verify and the tax lien will be deleted from our CR. Is that correct? Or is there more to it?

Since the tax lien is really reported as a "judgment" doesn't that mean that the court system would be the ones to report it?? If so, how could he promise that it would be deleted and off our CRs?

He did say deleted/removed. He said that it wouldn't just show as "paid" but would be deleted entirely.

TIA!!!

[slyhouse08]

Yes...it depends on the creditors...usually it's the closing dates on your statements...and after that..it can take up to a week for all CRA to update...as far as the tax lien...I don't think you will get proper advice...because you will be hounded by the MODS for saying...you are going to dispute accurate info...I know it sounds strange...even though you are merely stating what they told you...remove that portion...did you receive a letter from them saying they would delete...but if they say they are going to delete...it's all up to the courts...

[HappyDays]

Each creditor has their own set time to report. As sly said  it might take approx.1 week to show on your CR.

As to the tax lien.......keep in mind that most courthouses do NOT report. It is a 3rd party doing it. They never go back & look at old liens....this is why it can be harder to get removed.

The creditor told you to dispute  DO it but wait at least 1 month.  As to disputing accurate info...keep in mind that it is reported as unpaid sooooo you will be disputing inaccurated info.  ALSO when a creditor tells you to dispute....you do what they say!

Also keep in mind that you have nothing in writting so  it might not be deleted. This is NOT to say that it will not.

If you dispute & it isn't deleted   you might then need to go to the courthouse & be sure that it has been deleted from their dada base. Get a notice from them that you do NOT have a lien.....mail CMRRR with another dispute.

[Wonderin]

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slyhouse08 wrote:
Yes...it depends on the creditors...usually it's the closing dates on your statements...and after that..it can take up to a week for all CRA to update...as far as the tax lien...I don't think you will get proper advice...because you will be hounded by the MODS for saying...you are going to dispute accurate info...I know it sounds strange...even though you are merely stating what they told you...remove that portion...did you receive a letter from them saying they would delete...but if they say they are going to delete...it's all up to the courts...

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I am NOT trying to dispute accurate info ... at least, not really. His promise stemmed from the fact that it wasn't clear in the system whether or not we had paid this off previously. Rather than do a full investigation, it was just easier to pay it (again) with the understanding that it would be deleted.

What happened (as far as I could tell) is that we paid it off immediately prior to it being filed for judgment. We paid it, didn't keep good records back then (about 6 years ago) and thought nothing of it afterwards (didn't even check our CRs). Somehow, sometime, MD filed a tax lien, never updating their records.

Believe me, with two moves under our belt, two storage units, a garage, etc, it was MUCH easier to just shell out the $500 than spend six months wading through old receipts for fast food, groceries, bills, etc (we DO need to organize all that stuff, but I'd rather we do on OUR schedule rather than in a panic).

So, long story short, in the end, we pretty much negotiated a PFD for the tax lien.

[slyhouse08]

I understand what you are saying...they are basically telling you to dispute it..and they won't verify...other creditor tell people to do the same...when I posted what I was told...I was sent an email from the MOD..saying i was in violation...and my post was deleted....your saying exactly what I posted...and mine was in violation...maybe some MODS are different than others...CONGRATS though...

[Wonderin]

Thank you, HappyDays & Sly!! You guys answered my questions!!!

I would have thanked you guys in my other post, but I wanted to assure you that I wasn't trying to cheat the system!! I was scared that you guys might get mad at me!!!

Yeesh, though ... I can't go to the courthouse! I live over 1000 miles away now (moved from MD to FL)! Hopefully, it won't come to that. I asked the tax CSR if I needed to do anything and he told me that I most assuredly did not. I'm still nervous, though, since I've read oodles of posts talking about having to get a "release on lien" from a courthouse (or something to that effect).

To reaffirm, I don't want to cheat the system ... but I AM willing to do whatever's reasonable (and legal) to clear up our credit. It was my fault that our credit's gotten so horrible. And I'd do durn nigh anything to fix the damage I've caused my poor hubby -- and the backlash it's had on my family (don't own a house and we have two teens -- who desperately want us to own a home!)!!!

Sorry to ramble! Again, thank you SO much, guys!!!