I need advice

[tabby]

Hi

I have several bad accounts on my credit report that are scheduled to be removed this year.  I have 2 that are scheduled to be removed in 2010.  I am planning on getting a couple secured CC to rebuid my credit and maybe a secured loan from my credit union.  I wanted to try to buy a house by the end of this year or sometime next year.  My questions is, should i go ahead and pay off the other 2 accounts that will be remaining on my CR.  ANY advice will be greatly appreciated.

[Anonymous]

DV them first.  Make sure that they can validate the.  If not, they have to take them off your report.  You can look at the Frequently Requested Threads tab and look for letter examples.  Good luck.  Also, the other ones that are coming off this year, are they paid already?  When are they coming off?

[tabby]

No, the ones that are coming off were not paid.  The dates range from 3/08 to 6/08.  If i DV the ones on until 2010, will that remove them from all 3 CRA.

[Anonymous]

The DV might get them removed. Being so old from 2003 first find out if you pay them, do they become new again. Paying them could hurt your scores. Might be better to just leave be. As for the ones that fall off in a few months, let them be. I am no expert on collections so double check this info. A PFD on the 2003 accounts is also another possibility. Again, not sure if that will remind the CA to update it, causing score drops.?? I am just bringing this up for discussion. Please get further advice on this subject.

[tabby]

PFD??? never heard of that before, how does that work?

[CREDIT4BIZ]

IM NEW TO CHECK THE ABREVIATION THREAD UNDER GENERAL CREDIT QUESTIONS. GOOD LUCK

[tabby]

i know what it means, how does it work?

[Anonymous]

So, you would send them a letter stating that you know that you owe them $XX.  You then tell them that you are willing to pay that as long as they will delete it from your credit reports but you would make sure that they put it in writing that they are deleting them.

[Anonymous]

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tabby wrote:

Hi

I have several bad accounts on my credit report that are scheduled to be removed this year.  I have 2 that are scheduled to be removed in 2010.  I am planning on getting a couple secured CC to rebuid my credit and maybe a secured loan from my credit union.  I wanted to try to buy a house by the end of this year or sometime next year.  My questions is, should i go ahead and pay off the other 2 accounts that will be remaining on my CR.  ANY advice will be greatly appreciated.

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First I would advise you to know your SOL.....you do not want to start something & end with a lawsuit!

  simple SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Never offer a PFD before receiving an answer to a DV!!!  you must know who owns the account & several other things.

Whatever is due to drop this year  let them drop!

if DOFD ends in 2010....you might still be within SOL   remember it ends the last day of the month/2010 and not the 1st.

Is the CA  licensed in your state?

[tabby]

OH, OK. Thanks danikasmom for the reply.