What to do if 90% of your credit report is incorrect? and PFD questions...

[Anonymous]

Hello -

I'm new. I'm 28 now but when I was 25 I was declined for a credit card. After I pulled my report I found out 9 out of 10 of the items were incorrect. Mostly 1999-2000 credit cards (for stores) which, after I investigated I found out it was my mom who took them under my name w/ out me knowing. The only item thats was correct is an AUTO LOAN (for $6k, paid in full).

Fast forward to today, now I want to buy a new car but I noticed the huge difference between the loans @ fico 611 and fico 700+. Also planning to buy a house asap and the differences are MASSIVE in 30 year fixed mortgages. I'm now sending in my first letter to dispute all this, I used the FICO website to make it, and the FICO website says "followup in 30 days" what does that exactly mean? how do I "follow up"?

Also, I've read that you can PFD - Pay for Deletion? Is that a route I should follow? I know I've lagged on this clean up process because the shock it was my mom and just pure procrastination by my part, but how can I do this correctly?  Thanks.

[sl]

There are a few things that you can do. You can write a PDF letter to those creditors on your credit report and explain what happened and ask them to work with you.

What your mom did is illegal and you can file a police report and send the police report to the CA. They will most likely put a fraud alert on your report and they may go after your mom.

It is a difficult decision to make and I am not sure how I would handle it if I were in your shoes. I think I may sit down and have a heart to heart with mom.

Good luck.

[Anonymous]

You said these are from 99-2000. Is that the DOFD. Or the date opened.  It sounds like most should be past the sol which is good if you are going to PFD. But they may be ready to fall off also. I would call the CRA's and get all the DOFD and when they fall. Then you can go from there. Good luck!