What do you do in the meantime?

[jazzerz]

I mailed several DV letters the other day and since they went out, I've just been twiddling my thumbs. I'm at the beginning of my "rebuild" process and I don't want to lose motivation or spend too much time dreaming of my perfect house. I don't know if this is the "right" place to post this but, what did/are you doing in the meantime?

[LIGHTNIN]

Reading and learning on MyFico. LOL

Oh and helping the newcomers, on things that I've already learned.

Or do like my DH does,he watches HGTV and DIY all the remodeling shows.

So if something needs fixing, he already has some idea how do.

We still live in out 1st home for 22yrs now,but would like to move soon.

Also try keeping up with the news about housing check out this article in usa today paper.

http://www.usatoday.com/money/economy/housing/2010-01-20-fha-home-mortgage-loans_N.htm

Hope this helps  

[MarineVietVet]

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@jazzerz wrote:

I mailed several DV letters the other day and since they went out, I've just been twiddling my thumbs. I'm at the beginning of my "rebuild" process and I don't want to lose motivation or spend too much time dreaming of my perfect house. I don't know if this is the "right" place to post this but, what did/are you doing in the meantime?

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As LIGHTNIN said try and learn as many things here as you can. I read hundreds of posts before I ever wrote my first one. Go back about 6 months or even longer and catch up on the posts from that point till now.Then you'll be better prepared to help yourself and others.

[RobertEG]

Jazzarz, welcome to the forums.

Dont twiddle your thumbs too long or two much over a DV letter.  I am not sure what you expect the DV letter to accomplish.....

but it is usually, IMHO, not as much as the consumer expects.

There are two basis puposes of a DV letter.

The first is to request (not require) verification if you dont beliieve the debt is really yours. If it is legit, you can just expect them to say, yes it is a real debt.  And they will only do this when they are ready to take further collection activity.

The second reason is to shut off harassing collection activity until the CA responds.

A CA is under no time period to ever respond to a DV letter.  So it does not compel verification.  It only compels the cessation of active collection activity until such time as they may choose to provide verification of who the original creditor is, and the amount of the debt.

If you truly dispute the debt itself, or individual reporting of derogs under the accounts that form the debt, then start thinking about using the dispute process provided by FCRA 611(a), which compels verification with 30-days of a dispute.

I dont know your grounds for dispute, but a DV letter is usually a baby attempt to resolve anything.

[newstart2010]

Welcome to the forums!

I am like you, I have sent out the DV and PFD letters, and now I find myslef with time before I send out my next round of DV and PFD letters to those that do not respond.

So I have read for hours on here, asked tons of questions, reorganized all of my files, studied my credit reports and made tons of notes, applied for my secured cards after tons of studying on them, talked over our future credit plans with my husband, and generally worked on our plan to make this better.  If you think about it, there is a ton of stuff you can work on and focus on, and in a few weeks you will want to send out another round of letters to whoever did not respond.

[jazzerz]

Thank you for the positive suggestions. I've spent a lot of time reviewing the forums and I have gotten a lot of ideas for next steps to take while I wait. (I've also been daydreaming about my perfect first place ).

Appreciate the replies.