help with rebuilding

Anonymous · ‎10-18-2008

Hi everyone! I am new here and have been doing alot of reading.So I went and disputed all the old stuff on my CR that I did not recognize.Much of it said charge off.I just read in another thread that if i dispute those it can start them over.Is this true?Now I am nervous.I have already sent the dispute letters.I only have 2 collections and 7 charge offs.I disputed 5 of them.I figured that if they come back verifyed that I could do a GW.My fico for eq is 586.The score simulator said my best bet was to get new credit and pay on time.DID i seriously screw up????????

Anonymous · ‎10-18-2008

Just a question for clarification purposes...

Did you dispute them with the CRA (TransUnion, Equifax and Experian)

- And if you did how? (Not mine, inaccurate, etc)

- OR -

Did you send them DV letters?

Makes a big difference in how to answer you.

Thanks!

Anonymous · ‎10-18-2008

I disputed through the cra I said this is not my account.Hope that is the right answer.

Anonymous · ‎10-18-2008

I don't have a any experience with disputing directly with the CRA.

I do know that you should DV the CA first. When you DV the CA its like asking them to prove to you that the debt is yours. If they can not prove that it is yours then they have to delete it and if they are supposed to and don't THEN you go the route of contacting the CRA.

If they CAN prove that it is yours then your next step would PFD. If they prove that its yours and you still disagree then I think you go to the CRA.. Im not sure.

Im not 100% sure but you may have really messed up. If you disputed 75% of the stuff in your CR as not mine then they may mark it as frivolous and it will make it harder to get any of it taken care of in the future.

And since you disputed it all as "Not Mine" they will probably put a fraud alert on your CR. This will make it harder for you to obtain credit in the future.

Or it could all come back that it was verified as yours and then you would start over at the beginning of the process.

I would wait for an expert to chime in though since I don't know much about disputing with the CRA.

llecs · ‎10-18-2008

@Anonymous wrote:
Hi everyone! I am new here and have been doing alot of reading.So I went and disputed all the old stuff on my CR that I did not recognize.Much of it said charge off.I just read in another thread that if i dispute those it can start them over.Is this true?Now I am nervous.I have already sent the dispute letters.I only have 2 collections and 7 charge offs.I disputed 5 of them.I figured that if they come back verifyed that I could do a GW.My fico for eq is 586.The score simulator said my best bet was to get new credit and pay on time.DID i seriously screw up????????

Avoid disputing. If you know it wasn't yours the best route would be to file a police report first then use that report to dispute. A couple things could happen. 1) the TL gets deleted. Then you won't have to worry about it. 2) Gets verified. That'll make it 10 times harder to get removed and FICO could see the account as new (but it would not be re-aged). 3) Verified, FICO drops, and a fraud alert gets placed on each report (same happened to my DW. We disputed everything in the beginning as "not mine" and had to go through hoops to get that fixed).

Anonymous · ‎10-19-2008

You should never dispute accurate information and discussing doing such is a prohibited on the forums. Please read the Credit Repair Discussion Guidelines, TOS, and User Guidelines.

Having said that, you can't undo it now that you've done it. Chalk it up to one of the most common mistakes made, some of the worst advice given out, and a lesson learned.

Wait until the investigations are completed and you can go from there. After all that is over, post back on a new thread(I'm locking this one) what you still need help with and with all the important information that will help us give you advice on what to do. Important information is DOFD, DOLA, SOL, who is reporting, if it is paid/unpaid, etc.