topic What are my first steps? in General Credit Topics

What are my first steps?

Anonymous — Tue, 22 Apr 2008 15:57:59 GMT

What should my first steps be, in removing these bad flags on my account:

Equifax:
Hsbc/Bstby Not Reported 9/2001 $1,821 Bad debt/collection Details
-Status as of [?] Jan, 2007
-Date opened [?] Sep, 2001
-Date of last activity [?] Dec, 2003
-Date closed [?] Not Reported

Hsbc Bank Not Reported 11/2001 $0 Bad debt/collection Details
-Status as of [?] Jan, 2007
-Date opened [?] Nov, 2001
-Date of last activity [?] Jan, 2004
-Date closed [?] Not Reported

Hsbc/Comp Not Reported 2/2001 $0 Bad debt/collection Details
-Status as of [?] Jan, 2007
-Date opened [?] Feb, 2001
-Date of last activity [?] Dec, 2003
-Date closed [?] Not Reported

Merrick Not Reported 2/2000 $0 Bad debt/collection Details
-Status as of [?] Jan, 2007
-Date opened [?] Feb, 2000
-Date of last activity [?] Feb, 2004
-Date closed [?] Not Reported

TransUnion:
Hsbc Best Buy XXXXXXXXXXXX 9/2001 $1,821 Charged off as bad debt Details
-Status as of [?] Oct, 2004
-Date opened [?] Sep, 2001
-Date of last activity [?] Nov, 2003
-Date paid out [?] Not Reported
-Date closed [?] Feb, 2002

Hsbc Comp Usa XXXXXXXXXXXX 2/2001 $0 Payment after charge off/collection No Details
-Status as of [?] Jun, 2005
-Date opened [?] Feb, 2001
-Date of last activity [?] Nov, 2003
-Date paid out [?] Not Reported
-Date closed [?] Nov, 2003

Hsbc Bank XXXXXXXXXXXX 10/2001 $0 Payment after charge off/collection Details
-Status as of [?] May, 2005
-Date opened [?] Oct, 2001
-Date of last activity [?] Mar, 2004
-Date paid out [?] Mar, 2004
-Date closed [?] Feb, 2004

Merrick Bank XXXXXXXXXXXX 9/2002 $0 Payment after charge off/collection Details
-Status as of [?] Apr, 2004
-Date opened [?] Sep, 2002
-Date of last activity [?] Not Reported
-Date paid out [?] Not Reported
-Date closed [?] Feb, 2004

Experion:
Hsbc/Bsbuy XXXXXX 9/2001 $0 Unpaid balance reported as a loss by credit grantor Details
-Status as of [?] Nov, 2004
-Date opened [?] Sep, 2001
-Date of last activity [?] Oct, 2004
-Date of last payment [?] Nov, 2003
-Date closed [?] Not Reported

Hsbc/Comp XXXXXX 2/2001 $0 Account transferred to another office Details
-Status as of [?] Nov, 2004
-Date opened [?] Feb, 2001
-Date of last activity [?] Nov, 2004
-Date of last payment [?] Nov, 2003
-Date closed [?] Not Reported

Merrick Bank XXXXXXXXXXXXXXXX 2/2000 $0 Account legally paid in full for less than the full balance Details
-Status as of [?] Apr, 2004
-Date opened [?] Feb, 2000
-Date of last activity [?] Apr, 2004
-Date of last payment [?] Not Reported

Hsbc Bank XXXXXXXXXXXXXXXX 10/2001 $0 Account legally paid in full for less than the full balance Details
-Status as of [?] Mar, 2004
-Date opened [?] Oct, 2001
-Date of last activity [?] Mar, 2004
-Date of last payment [?] Mar, 2004
-Date closed [?] Not Reported

The interesting thing here, is the only collections I have is on TransUnion for my Hsbc Comp Usa. I guess that's a good thing... only having one (better if none).

Where can I begin? I read about the PFD. Should I do that? Since these are older accounts, should I wait? When do the SOL kick in for removal? I'm in IL by the way.

I'm ready to start, but don't know where

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 16:05:38 GMT

You don't really have anything to PFD...all but one are paid...but your kinda stuck...HSBC is not going to remove...I have two chargeoff accounts with them...and you have three accounts with them...you can try to DV for removal...as far as the HSBC/BSTBY...it that what a CA...Is it LVNV Funding?...you can try to PFD the last one...GOOD LUCK...

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 16:19:49 GMT

How would I do a DV? Through a Dispute?

Also, when can I expect these to fall off? I looked here for the SOL for credit (http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8) It says 5 years, is that true for these? Should I just wait the 1 year on most of these?

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 16:36:12 GMT

I'm sorry not DV...GW letter...just type sample GW letter in the search box above and all types of samples will come up....

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 18:01:28 GMT

Any other steps besides a GW for removing these chargeoffs? When can I submit these for dispute as Obsolete? These are since bought off by other companies I'm sure, so I'm not sure contact HSBC will be of any help.

They make this soo **bleep** confusing. And soo hard to get anyone that has the ability to remove things.

Would it hurt to dispute these items to get them to give me contact information to the people in charge of who's responsible for the listing?

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 18:16:34 GMT

Just because HSBC sold it doens't mean they can't verify it...I called HBSC last week and they stick to NO about deleting...if you dispute them..they will verify them...they don't take them off and they don't have to take them off...you might have to work from now...like making sure all bills are paid on time...maybe get starter cards...just make sure you credit from now on is PERFECT...

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 18:18:52 GMT

And SOL doesn't determine when they will fall off...DOLA does...and the account like this stays on for 7-7.5 years...

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 18:33:53 GMT

Interesting... When does the 7-7.5 years take from. The Last Status Date? Last Activity Date? If you look at my accounts, there pretty old and getting there.

Since those accounts, my credit has been perfect, 1 full car loan paid perfect, another one going on. I have a CC with a perfect standing. I have a new one on the way (with a higher balance) which I plan on keeping perfect. So, yea, thats not a problem for me. Problem are these stupid accounts from when I was younger and naive. Just hope it doesn't stay with me for life.

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 19:02:06 GMT

Also,

Is there any companies (Legit) that I can contact about having them help me through a good practice of removing these charge-offs? Or is it best to let them fall off? Problem is, I don't know when that will happen.

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 19:15:50 GMT

Most of your are from 2004...so they will fall off in 2011...long time...but all you can to try to GW and DV the companies to try and get them to remove...maybe you can PFD the last on you owe a balance on...but you can surely just wait for them to fall off...I don't think a company can really help you so much...you don't really owe anything...you can try though...all of us on here like to try our hardest to do things ourself first as much as possible...I know some places claim to be able to help...like Lexington Law...etc...I wouldn't recommend it though...I just wrote a DV myself for HSBC myself...I read before that you might have a better chance of getting removal if they sent it to a CA and sold the account...then they can't verify...but it doesn't look like yours went to a CA...so they might still have all your records...you can GW though...basically begging for removal after you had PIF....

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 20:18:52 GMT

Thanks for your help. I will try to do a DV first, then if that doesn't succeed, I will try a GW letter and see where I get with that. I'll post my results here when I get responses. Thanks again. Wish me luck, although it doesn't sound like this will be coming off anytime soon.... at least 3 more years, ughhhh.

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 20:20:14 GMT

Oh, forgot to ask, a DV won't renew that time frame right? It's my understanding only if I paid again will it renew that, is that right? I'd hate to have that go for another 7 years, ughhh.

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 20:28:06 GMT

Only if you pay them anything...or agree to something...that's why you should try and do everything through mail...not phone calls...

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 21:11:35 GMT

Looking through DV letter examples, I am seeing they all have to deal with Collection Agencies. Not the Original Credit Card. Will this be a problem for me? If I send it to HSBC (the original credit lender). Will that make sense?

Thanks

Re: What are my first steps?

Anonymous — Tue, 22 Apr 2008 22:33:09 GMT

They one I got for HSBC was titled "PLEASE sample letter anyone?"...DV are made for you to cut and paste with...use what you could in your situation...I was able to use most if not all of this one...and there is actually a GW letter to HSBC that someone wrote on here...the name of it is "HSBC GW SuCCeSS!!~!!"...but that was for late i think..look around...take stuff from different ones...and make it your own...the letter are not specifically for each one though...