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When all routes fail

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Linxnme
Member

When all routes fail

Hopefully this will not be the case but what happens if you can't get the negatives off of your report and can only get them updated as paid? How much longer will it take one's score to get better? How about with having a few new secured cards in good standing? I just like to be in tune with both sides of the fence. It is obvious what removal will do just not sure about CA's there but showing paid.
Message 1 of 6
5 REPLIES 5
DaBears
Senior Contributor

Re: When all routes fail


@Linxnme wrote:
Hopefully this will not be the case but what happens if you can't get the negatives off of your report and can only get them updated as paid? How much longer will it take one's score to get better? How about with having a few new secured cards in good standing? I just like to be in tune with both sides of the fence. It is obvious what removal will do just not sure about CA's there but showing paid.

Hi Linxnme, welcome to the forums!!!! Are you referring to paid C/O's or collections? If you are talking about charge off's, you will not see a score increase cause Fico see's it as a charge off. Paid or unpaid its still the same. Collections on the other hand if paid I would send GW (Good Will) letters for removal. Keep in mind the CA or OC do not have to remove or delete a trade line once paid. If you have any other questions ask away!!!

 

DaBears

Message 2 of 6
Linxnme
Member

Re: When all routes fail


@DaBears wrote:

@Linxnme wrote:
Hopefully this will not be the case but what happens if you can't get the negatives off of your report and can only get them updated as paid? How much longer will it take one's score to get better? How about with having a few new secured cards in good standing? I just like to be in tune with both sides of the fence. It is obvious what removal will do just not sure about CA's there but showing paid.

Hi Linxnme, welcome to the forums!!!! Are you referring to paid C/O's or collections? If you are talking about charge off's, you will not see a score increase cause Fico see's it as a charge off. Paid or unpaid its still the same. Collections on the other hand if paid I would send GW (Good Will) letters for removal. Keep in mind the CA or OC do not have to remove or delete a trade line once paid. If you have any other questions ask away!!!

 

DaBears


Hi DaBears.  Thanks for our response

 

The accounts I am referring to are CA’s not charge offs. None are with the original creditor. 

 

Long story short here’s my situation:

 

1.  2 different student loans total 70K  in deferment right now at one time one (for $3x4) was in default but I was able to correct that and got additional student loans for ($35k) Tons of late payments

 

2.  7 collection accounts, (which includes to medical bills)  The 7 CA’s total  under $3K,

 

3.  1 auto loan just paid off on Monday 4/8.  Tons of late payments

 

4.  1 judgment showing as $835; settled for $600 in March 2013. Received satisfaction from atty that was sent to the court.  Has not updated as paid on CR.  It was via Midland Funding for an Aspire card and because of these boards, I learned about the FTC ruling, so I will be fighting that.

 

5.  1 Wells Fargo secured card 11 months of on time payments.  If all goes well it is supposed to go unsecured next month.

 

6.  1 unsecured card (Cap 1) not yet reported.  I just got it this month. 

 

That’s it.

 

I am of course doing the normal process to try and dispute, PFD and GW as much as I can but like I said above, I always like to consider the worst case scenario. 

 

With that being said,  if the above tactics fail and I have to pay all (CA's) and the agencies are only willing to update my reports as paid and are not willing to remove late payments or the accounts, will my score budge because of the rebuilders?

Message 3 of 6
txmomma26
Regular Contributor

Re: When all routes fail

If the CAs stay and show as paid, there won't be a score increase until they age significantly, and even then it's minimal.  However, they will look better upon manual review to show $0 balances.

 

On the medical CAs, it's worth trying a PFD or maybe even disputing them once they show paid.  I had one (for like $64) that once I paid it, they removed it without me even asking. You may even be able to try the HIPAA argument to remove them once paid. I have no experience with that....sorry!

 

I'm down to 3 negative accounts on my CRs - and no one wants to get rid of the lates either.  So until they drop off in a year or two and my new accounts age, I figure I'm pretty well stuck in the mid-600s.

Start: (2-26): EQ 602 (Myfico) TU 579 (Credit Karma) EX 634 FAKO
Current: (7-12): EQ 690(myfico) WalmartTU 696 EX 689 (lender 6-3)
1st Goal: 680 across the board - DONE June 2013!
2nd Goal: 725 across the board
Message 4 of 6
Linxnme
Member

Re: When all routes fail

Hi txmomma26.   Thanks for responding.  I am going to fight like no other to get these things removed.  I am so mad at myself for getting into this bind but hey you live and you learn.  I am glad my bad debt is only roughly 3k.

 

My student loans are going to be a pain in the butt to pay but I will be sure, once they come out of deferment, that they are paid on time.

 

After my CRA and CA disputes come back and am going to PFD and GW the CA’s to death LOLLLL.  I am hoping for the best. 

 

I want to buy a home around this time in 2015 so putting myself on a two year plan, I am hoping for the best. 

Message 5 of 6
DaBears
Senior Contributor

Re: When all routes fail


@Linxnme wrote:

@DaBears wrote:

@Linxnme wrote:
Hopefully this will not be the case but what happens if you can't get the negatives off of your report and can only get them updated as paid? How much longer will it take one's score to get better? How about with having a few new secured cards in good standing? I just like to be in tune with both sides of the fence. It is obvious what removal will do just not sure about CA's there but showing paid.

Hi Linxnme, welcome to the forums!!!! Are you referring to paid C/O's or collections? If you are talking about charge off's, you will not see a score increase cause Fico see's it as a charge off. Paid or unpaid its still the same. Collections on the other hand if paid I would send GW (Good Will) letters for removal. Keep in mind the CA or OC do not have to remove or delete a trade line once paid. If you have any other questions ask away!!!

 

DaBears


Hi DaBears.  Thanks for our response

 

The accounts I am referring to are CA’s not charge offs. None are with the original creditor. 

 

Long story short here’s my situation:

 

1.  2 different student loans total 70K  in deferment right now at one time one (for $3x4) was in default but I was able to correct that and got additional student loans for ($35k) Tons of late payments I'm not very savy on this subject, never had to deal with student loans. Sorry.

 

2.  7 collection accounts, (which includes to medical bills)  The 7 CA’s total  under $3K, How old are these debts? If you're not concerned with removal I would start sending settlement letters. 

 

3.  1 auto loan just paid off on Monday 4/8.  Tons of late payments The lates will each fall off at the 7 yr mark from the date of occurance. Once all lates fall off the account turns into a positive TL for up to 10 yrs from date closed.

 

4.  1 judgment showing as $835; settled for $600 in March 2013. Received satisfaction from atty that was sent to the court.  Has not updated as paid on CR.  It was via Midland Funding for an Aspire card and because of these boards, I learned about the FTC ruling, so I will be fighting that. Their is actually a link some where on the boards regarding the FTC ruling. Will come in hand for you.

 

5.  1 Wells Fargo secured card 11 months of on time payments.  If all goes well it is supposed to go unsecured next month. Way to go on this one!!!!! 

 

6.  1 unsecured card (Cap 1) not yet reported.  I just got it this month. 

 

That’s it.

 

I am of course doing the normal process to try and dispute, PFD and GW as much as I can but like I said above, I always like to consider the worst case scenario. 

 

With that being said,  if the above tactics fail and I have to pay all (CA's) and the agencies are only willing to update my reports as paid and are not willing to remove late payments or the accounts, will my score budge because of the rebuilders?


 

Message 6 of 6
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