topic Re: Cleaning Up Collections - Where to go? in Rebuilding Your Credit

Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 17:21:05 GMT

After trying to apply for a mortgage and being denied, I decided to see what was going on. I knew my credit wasn't top notch but didn't realize is was piss poor either. So I have about 5 collections on my report. These were from CC's back in 2006 when I lost my job. I tried to work it out with them beforehand and they all said nothing we can do, give us our money. So I stupidly stopped paying because well, I was unemployed for 3 years off and on. I was trying to survive.

Now, I am trying to get things cleaned up. I contacted and hired Sky Blue to get things started for me. I am assuming I should wait to see how things go with that before I respond to any collection notices? I started getting a couple of "offers" which seem very good as long as I can have them remove it from my CR. Any suggestions?

Thanks!

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 17:29:18 GMT

When were the DOFD? Are they all within SOL?

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 17:49:45 GMT

@Anonymous wrote:
When were the DOFD? Are they all within SOL?

Very hard to tell. It seems all are within VA's 7 yrs of SOL. Most seem like they have a year or less before they fall outside the SOL. It's really hard to make heads or tails of all the accounts since they have been sold, bought, sold again.

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 18:07:26 GMT

@Anonymous wrote:
@Anonymous wrote:
When were the DOFD? Are they all within SOL?
Very hard to tell. It seems all are within VA's 7 yrs of SOL. Most seem like they have a year or less before they fall outside the SOL. It's really hard to make heads or tails of all the accounts since they have been sold, bought, sold again.

Any of them have Judgements?

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 18:23:13 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
When were the DOFD? Are they all within SOL?
Very hard to tell. It seems all are within VA's 7 yrs of SOL. Most seem like they have a year or less before they fall outside the SOL. It's really hard to make heads or tails of all the accounts since they have been sold, bought, sold again.

Any of them have Judgements?

Nope. All are just collections.

Re: Cleaning Up Collections - Where to go?

RobertEG — Mon, 25 Jan 2016 19:05:31 GMT

When any debt collector reports a collection, they are required to separately provide the DOFD to the CRA.

The reported DOFD should be in your credit file.

You might try viewing your report on annualcreditreport.com, which usually shows the reported DOFD.

The DOFD is the date that you first became delinquent on the debt, and thereafter remained delinquent up to the reporting of the collection.

If you became delinquent back in 2006 and have remained delinquent since then, the maximum credit report exclusion period of no later than 7 years plus 180 days would have expired, and the collection should no longer be showing in your credit report.

You need to first determine the DOFD on each collection.....

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 19:24:58 GMT

@RobertEG wrote:
When any debt collector reports a collection, they are required to separately provide the DOFD to the CRA.
The reported DOFD should be in your credit file.
You might try viewing your report on annualcreditreport.com, which usually shows the reported DOFD.

The DOFD is the date that you first became delinquent on the debt, and thereafter remained delinquent up to the reporting of the collection.
If you became delinquent back in 2006 and have remained delinquent since then, the maximum credit report exclusion period of no later than 7 years plus 180 days would have expired, and the collection should no longer be showing in your credit report.

You need to first determine the DOFD on each collection.....

Im trying to figure that out. Problem is I did the anualcreditrepot thing and got only 1 report before it failed out. Equifax asked me security questions that had no relation to me past or current. I failed those questions twice from two different sites which then concerned me that my identity had been stolen. I was able to try again on equifax.com and answered the questons correctly without issue. It was very odd. The last report was experian and when the site went to get that report it state there was a problem and mail experian directly for the report. So I only received 1 report.

I signed up for Exquifax through my bank at a discount and got my 3n1 report from there. None of which shows my DOFD unless I am being oblivious.

Re: Cleaning Up Collections - Where to go?

RobertEG — Mon, 25 Jan 2016 19:29:38 GMT

Did you retain any account records?

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 19:34:53 GMT

@RobertEG wrote:
Did you retain any account records?

In terms of?

Do I have any records of these accounts - no. No paper work on them.

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 19:38:55 GMT

Keep in mind, if you start disputing accounts be sure to have the disputes stopped before applying for a mortgage loan again. I am in the process of buying a home and I was told I needed to stop the disputes I started with accounts. I had Lexington Law disputing accounts for me. I think I had around 4 or 5 disputes active. I was able to call Equifax and Experian and have the disputes stopped over the phone but had to mail a letter to Transunion to have them stopped. I was told the mortgage company sees the disputes as a risk that you may later try to dispute the mortgage. It usually only take about a week to get all the disputes stopped. Actually I was calling the mortgage company back this week to see if I could get my pre qualification letter to get the build started since the disputes are removed. My middle score is a 635 and high score is a 658. Hoping everything works out!

Re: Cleaning Up Collections - Where to go?

RobertEG — Mon, 25 Jan 2016 19:39:31 GMT

Monthly billing statements, which can be used to determine when you first became delinquent, and thereafter remained delinquent.

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 20:02:50 GMT

@RobertEG wrote:
Monthly billing statements, which can be used to determine when you first became delinquent, and thereafter remained delinquent.

Yeah, none of those I have.

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 20:09:50 GMT

@Anonymous wrote:
@Anonymous wrote:
When were the DOFD? Are they all within SOL?
Very hard to tell. It seems all are within VA's 7 yrs of SOL. Most seem like they have a year or less before they fall outside the SOL. It's really hard to make heads or tails of all the accounts since they have been sold, bought, sold again.

Buying and selling of them is irrelevant - pull your full free reports from annualcreditreport.com and see what the OC's have reported as DoFD. Its clearly noted on EQ reports. The CA's and JDB's must use the same DoFD as the OC, no matter how many times its been bought and sold.

Re: Cleaning Up Collections - Where to go?

Anonymous — Mon, 25 Jan 2016 20:11:46 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
When were the DOFD? Are they all within SOL?
Very hard to tell. It seems all are within VA's 7 yrs of SOL. Most seem like they have a year or less before they fall outside the SOL. It's really hard to make heads or tails of all the accounts since they have been sold, bought, sold again.

Buying and selling of them is irrelevant - pull your full free reports from annualcreditreport.com and see what the OC's have reported as DoFD. Its clearly noted on EQ reports. The CA's and JDB's must use the same DoFD as the OC, no matter how many times its been bought and sold.

If you are unable to get them from the annualcreditreport.com site, then send requests for printed reports directly to the CRA's. Include proof of ID.

Re: Cleaning Up Collections - Where to go?

Anonymous — Sun, 31 Jan 2016 22:21:09 GMT

Im going to get new reports in the next few weeks.

In the meantime, I am paying down my final two credit cards next month. My biggest question is this - I plan on using one credit card to pay all my bills and get the reward points. Should I pay my bills (would be the 15th of the month), then wait until my bill is due for the card and pay it in full? Should I do this with the same card every month or rotate cards? Should I just use one card for bills and pay it off every month and keep a small balance on another (under 10%)?

Just want to maximize my benefits here.

Re: Cleaning Up Collections - Where to go?

Anonymous — Tue, 02 Feb 2016 19:10:31 GMT

@Anonymous wrote:
Im going to get new reports in the next few weeks.

In the meantime, I am paying down my final two credit cards next month. My biggest question is this - I plan on using one credit card to pay all my bills and get the reward points. Should I pay my bills (would be the 15th of the month), then wait until my bill is due for the card and pay it in full? Should I do this with the same card every month or rotate cards? Should I just use one card for bills and pay it off every month and keep a small balance on another (under 10%)?

Just want to maximize my benefits here.

Use one card for everything, pay it down to below ten percent before the statement closes each month. Do not rotate cards.