Removing Collections

Anonymous · ‎10-07-2008

Hello! I am purchasing a house and need all the help I can get, I have 2 collections in my CR,

1- LVNV Funding that just contacted me in 09/08, however the DOFD is 07/2003 and another from MidlandCredit Managment which the DOFD is 12/01, should I try to send letter that I obtained from Noah, my question is should I ride for the SOL to expire or attempt to have removed?

What about hiring someone like Lexington Law, who charges $79.00 mnthly and says they can help with your score.

Anything helps.............pleeeeeeze

Anonymous · ‎10-07-2008

Why would you want to touch these old negatives? the damage to your numbers is long gone, today they are more positive (credit history lenght) than negative (derogatory remarks). If the lender compails about your scores, explain that is better not to remove them. If your lender wants them off your report because it doesn't like them, try another lender.

Last issue first: I would search Lexington Law on the Web to find out more about them - the comments I have read are not favorable at all - and what they do for you, you can probably do better yourself reading these boards.

Midland - DOFD 12/01: this is bound to fall off (not SOL) in the next 60 + 0 to 180dd. I would not touch it.

LVNV - DOFD 7/2003 has another 2 years to go. From a Fico perspective and damage to your Credit Scores, i would not touch it either. I would DV if you do not recognize the debt. If within SOL they might be readying to sue.

Be advised that falling off your credit reports has nothing to do with SOL - SOL depends on the type of debt, and how is treated by federal + state statutes.

cadavis0609 · ‎10-07-2008

I would send in a letter to the CRA for the first one and ask them to remove early. And for the second one I'm assuming its paid, If not, PFD, if it is then send in a GW and ask them to remove. Don't use Lexington Law, its a scam. Welcome to the forums.

Sept 07 EQ 419

April 2012 EQ- 669 EXP- 680 TU-700= Proud New Homeowner!

llecs · ‎10-07-2008

@Anonymous wrote:
Hello! I am purchasing a house and need all the help I can get, I have 2 collections in my CR,
1- LVNV Funding that just contacted me in 09/08, however the DOFD is 07/2003 and another from MidlandCredit Managment which the DOFD is 12/01, should I try to send letter that I obtained from Noah, my question is should I ride for the SOL to expire or attempt to have removed?
What about hiring someone like Lexington Law, who charges $79.00 mnthly and says they can help with your score.
Anything helps.............pleeeeeeze

Don't mess with Lexington. They won't help your score any.

These CAs are still hurting your score. My last CA to drop due to CRTP resulted in about a 24-48 point increase. I had another drop that was at 6 yrs and that increased scores by 20-58 points.

If you want it off before CRTP, then go through the process. Check your state's SOL first. If outside SOL or if you have the $$$ to PIF, then DV the CA then PFD. I'd research MCM and LVNV first to see if they even accept PFDs. Also know the risk that the CA may try to update, which FICO could read as a newer CA account, thus dropping your score. And if the CA goes away, another could replace it.

Anonymous · ‎10-07-2008

1- LVNV Funding that just contacted me in 09/08, however the DOFD is 07/2003 and another from MidlandCredit Managment which the DOFD is 12/01

This will drop from your CR 12/2008

The DOFD 7/2003 is this the DOFD reported by the CA? Could this be incorrect? It is the OC that sets it not the CA.