I AM NEW T

[ALLMYKIDS04]

HELLO I AM TRYING TO GET ADVICE FROM SOMEONE ABOUT MY CREDIT. I HAVE SEVERAL ACCOUNTS ALL WHICH IS REPORTED TO CA's, AND I AM JUST TRYING TO FIND OUT WHERE TO START.  I VIEWED ALL 3 CREDIT SCORES AND ALL ARE VERY LOW.

EX-525

EQ-549

TU-525

I'M TRYING TO REPAIR MY CREDIT SO IS THEIR ANYONE CAN GIVE ME ADVICE ON WHERE TO START WITH THESE CA's.  I DON'T HAVE THE LETTERS THAT WAS SENT TO ME ANYMORE I THREW THEM AWAY THINKING I'M NOT WORRYING ABOUT MY CREDIT IT'S BAD ALREADY HOW WORSE CAN IT GET, BUT I HAVE A FUTURE AHEAD OF ME ONE IS TO BUY A HOME AND MY CREIDT IS REALLY MESSED UP. #1 HOW CAN A GET A LETTER FROM THE CA STATING THAT THEY ARE TRYING TO COLLECT THIS DEBT, #2 WHAT DO I DO NEXT AFTER I RECIEVE THIS LETTER.  SOMEONE PLEASE HELP ME

[Anonymous]

Welcome ALLMYKIDS04!!

You came to the right place.  Eventually, I have no experiences in CA and not able to help you.

But our experienced member will respond to you shortly.  Hung in there!! 

[ngerasimatos]

I would suggest doing a DV (debt validation). Do a search on this in the forums and you should get a ton of information on how to write a DV letter.

[llecs]

There's a few things you can do now.

First, I'm guessing by your scores that you already pulled your CRs from all 3 CRAs here. Good first step.

Next, I'd become a nerd about this and also pull each CR directly from each CRA. Sounds redundant, but there's info on those reports that are important for credit repair. You can get copies for free if you've been turned down for credit recently or you an also get them for free once a year if you go to annualcreditreport.com.

I'd then write down every bad or derog item (lates, CAs, COs, public records, etc) shown on a sheet of paper. Write out the amounts. Also write down when each account is scheduled to be removed. On TU and EX, there is an estimated date of removal. Write that down.

Then start repair. For each CA, send a DV. For each CO for an OC send an OC letter. For lates, send a GW, etc. Except for the GWs, send everything CMRRR. Addresses are on those reports. I'd also start  saving money. Be prepared to pay if necessary via a PFD, but you are not at that point yet. Avoid disputing via the CRAs if you can. Unless something is way wrong, don't do it. It'll take the next 2-3 months to complete these letters, but your score will rise. If an account is scheduled to be removed in the very near future, I would wait in sending anything to them.

[ALLMYKIDS04]

SO WHAT SHALL I DO FIRST, THE DV OR PFD IF ALL MY ACCTS IS CLOSED WITH EX

[llecs]

Start repair based on the SOL of the item.

What have you done up to this point?

Message Edited by llecs on 03-10-2008 09:48 PM

[ALLMYKIDS04]

I HAVEN'T STARTED ANYTHING YET. I AM STILL TRYING TO GATHER INFORMATION FROM USERS LIKE YOU.  I HAVE OBTAINED ALL MY CR's

[ALLMYKIDS04]

I HAVENT STARTED ANYTHING YET. IM STILL TRYING TO GATHER INFORMATION FROM USERS LIKE YOU. I HAVE OBTAINED ALL 3 CR AND SCORES WHICH IS REAL LOW BUT I NEED TO KNOW THE NEXT STEP TO DO. WHETHER TO START BY ASKING FOR PFD OR START BY USING A DV LETTER. THIS IS MY FIRST TIME ON HERE AND DONT KNOW WHERE TO BEGIN.  ALL MY ACCTS WITH EX ARE CLOSED, WITH TU THEY ARE OPENED. I HAVE A SECURITY FREEZE ON MY CR SO I AM STILL WAITING FOR A CR FROM EQUIFAX BY MAIL. I DON'T QUITE UNDERSTAND HOW THE CR WORK.  HELP PLEASE ANYONE

[Anonymous]

You would send a Dv letter first. The purpose of the DV letter is for the CA to prove that the debt is yours and that they have a legal right to collect that debt.

To realistically advise you we would need more info on each account. DOFD, DOLA and SOL for your state. Negative items fall off after 7 yrs. Any items near that mark just let fall off.

[ALLMYKIDS04]

FIRST OF ALL, I NEVER PAID ON ANY OF THE ACCTS SO THAT'S WHY IT WENT INTO COLLECTIONS.  DO I STILL START BY SENDING IN DV LETTERS OR IF NOT WHAT'S A SOLUTION.  THE SOL IN THE STATE OF TX IS 4,4,4,4, AND ALL OF MY ACCTS THROUGH TU DON'T CLOSE UNTIL 2011,12, 13,& 14.  SO WHAT SHALL I DO NOW.   ANYONE CAN YOU PLEASE HELP ME OUT