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*** UPDATE **** I think my strategy worked!!!

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Re: *** UPDATE **** I think my strategy worked!!!

Thank you so much for the advice!  I have had luck with one collection account that I negotiated a removal of negative info in exchange for settlement.  That was great cause they were willing to do it - Midland Collection agency, btw.  I will read up on the thread.  I apprecaite the feedback - I cannot get enough of this forum!  I never realized how uneducated I was about credit!!! 

 

THANK YOU!!!  Smiley Happy


Starting Score: 588
Current Score: 614
Goal Score: 625


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Message 21 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!


@KindaCreditWorthy wrote:

Thank you so much for the advice!  I have had luck with one collection account that I negotiated a removal of negative info in exchange for settlement.  That was great cause they were willing to do it - Midland Collection agency, btw.  I will read up on the thread.  I apprecaite the feedback - I cannot get enough of this forum!  I never realized how uneducated I was about credit!!! 

 

THANK YOU!!!  Smiley Happy


No problem and good luck!!  You have the right attitude to succeed, and there are some very knowledgeable folks on here that can help you out with advice Smiley Very Happy

 

Best of Luck to you! and feel free to create a new thread anytime, by clicking "New Message" in the main forum. 

 

Good luck!

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 22 of 29
guiness56
Epic Contributor

Re: *** UPDATE **** I think my strategy worked!!!


@electra wrote:

I'm not sure, but I don't think that means that the CA is obligated to remove the TL from the CR.  They can't try to collect anymore obviously but I think that it doesn't automatically come off of the CR.  Is it still on there?  Did they say they would remove it?


I came across some information yesterday that specificially states if a debt buyer transfers or sells the debt they MUST delete their TL.  For a 3rd party CA if the debt is sent back to the OC then they MUST delete their TL.

 

And it is reliable information.  The Credit Reporting Resource Guide.

Message 23 of 29

Re: *** UPDATE **** I think my strategy worked!!!

Thank you so much for the feedback.  I have not yet reached out to the CAs on my credit report, but as I have been negotiating with some of them, I have been asking them to remove negative info and have seen some success.  I don't live in TX, but I am going to see if my state has a similar code of conduct; can you tell me how long it usually takes to get a response?  I had sent out one letter already about 2 weeks ago - is it a typically quick turn around time, or do they take their time?

 

Also, the notes on the account says $0 bal - collection paid in full, account closed by credit grantor.  There are three on my report currently; one which I have sent a letter, one that has been paid off for over a year (I did verify that this was paid, and have a letter stating PIF from agency), and one that I am currently paying off, but wont be complete till July. 

 

 

Thank you again!!! 


Starting Score: 588
Current Score: 614
Goal Score: 625


Take the myFICO Fitness Challenge
Message 24 of 29
guiness56
Epic Contributor

Re: *** UPDATE **** I think my strategy worked!!!

There is no timeframe for them to respond to a DV.  They just can't continue collection activity.

 

Did you pay the OC or the CA?

Message 25 of 29

Re: *** UPDATE **** I think my strategy worked!!!

Hello!  I did pay the CA - I actually tried to keep up with the OC, but they eventually passed me on to the CA.  I was going to see if I could GW a collection agency.  Has this ever worked or is GW for OC only?

 

Thank you!

 


Starting Score: 588
Current Score: 614
Goal Score: 625


Take the myFICO Fitness Challenge
Message 26 of 29
guiness56
Epic Contributor

Re: *** UPDATE **** I think my strategy worked!!!

Message 27 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!


@guiness56 wrote:

A GW is for whoever is reporting a paid debt.


Agree 100%

 

A GW can be sent to an OC, a CA, a utility company, an apartment complex, a university... 

 

Anyone can receive a GW, and respond to one.

 

I have been very successful with GW phone calls back in 2006 and 2007 before I knew about GW letters.

 

In order for a GW to be successful, the debt usually has to have been paid in a good faith effort by you, the debtor.   Sometimes unusual circumstances such as an address change, a medical problem, a job loss, divorce, or a death in the family can cause us to lose track of bills.

 

If you are otherwise very responsible, and are making a good faith effort to pay what you think you may owe, then a creditor is more likely to extend you some Goodwill by removing negative reporting.

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 28 of 29
webhopper
Moderator Emeritus

Re: *** UPDATE **** I think my strategy worked!!!

Copied and pasted from the Credit Reporting Guide.

 

These are instructions for Debt Collectors

 

DF — Delete entire account due to confirmed fraud

DA — Delete entire account (for reasons other than fraud)

  1. Debt Buyers must delete accounts that have been forwarded or sold to another entity.
  2. Collection Agencies must delete accounts that have been canceled and returned to the creditor.
  3. This value should also be used for accounts reported in error.

Do not delete paid in full collection accounts.

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 29 of 29
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