cancel
Showing results for 
Search instead for 
Did you mean: 

Credit repair

Credit repair

Looking for a company to help resolve a few collection accounts for me. Over the years I've tried several but with no improvement and a lot of $ spent. Who would you guys recommend? I have three collection's on my reports I'd love to resolve. Even pay in full if removed. I've tried the approach myself but the creditors wouldn't agree to remove the collection. They are older accounts, 2013 and 2015. One is with first Premier bank, and they are telling me the collection with age off my report in Dec of this year but that will make this collection over 8 years old if you go off my first reported missed payment, and consistently late there after. Any guidance would be great. Again I'm able and willing to pay balances in full to see them removed sooner. Wanting to buy a home, and my ocd wants 0 bad marks on my credit. My scores are good enough now to obtain a mortgage, but I want to wait it out until there's 0 collection's and I'm able to get the very best mortgage option. 

 

Any input or guidance would be much appreciated. 

 

Message 1 of 14
13 REPLIES 13
Horseshoez
Established Contributor

Re: Credit repair

@davidsmithsc712, as a general rule, the guidance here is to just say, "No" when it comes to credit repair companies; they can do nothing for you which you cannot do for yourself.  That and I've seen reports here and elsewhere which indicate their often heavy-handed tactics can result in the opposite results of what you're seeking and cause your scores to drop.

 

In your shoes, I'd research this site for "Goodwill" letters, Pay for Delete, and then give things time; there typically is no such thing as a quick fix when it comes to credit repair.

 

Good luck in your journey and keep us posted.

I categorically refuse to do AZEO!

Message 2 of 14

Re: Credit repair

Thank you. One question I do have, are there options for me if a collection has reported more than 7.5 years and disputes have came back in collection companies favor? I've clearly looked at the dates from my first missed payment and one account for sure should have already aged off. 

Message 3 of 14
Horseshoez
Established Contributor

Re: Credit repair


@davidsmithsc712 wrote:

Thank you. One question I do have, are there options for me if a collection has reported more than 7.5 years and disputes have came back in collection companies favor? I've clearly looked at the dates from my first missed payment and one account for sure should have already aged off. 


I'm not sure I fully understand the scenario, but as I understand it, once past the SOL, you can have the collection removed from your reports.  If all you did was dispute something which was in fact valid, just to see if you could get it removed (something which is not a good idea), that activity shouldn't rise to the level of resetting the date from a SOL perspective.  However, there are certain scenarios where if you agree to pay something and then don't follow through, the SOL date can be reset.  At this point, if you provide some more information here, other more experienced "myFICOers" may be able to chime in and give you more refined guidance.

I categorically refuse to do AZEO!

Message 4 of 14
Nikita2008
New Contributor

Re: Credit repair

I paid one of the firms for a few months about a year and a half ago. I saw some small score increases, but they had nothing to do with what that firm had done. It was merely a result of some payment activity, because nothing had come off my reports.

 

Needless to say I cancelled. There is a local credit repair establishment near where I live, that I don't think is shady. I've called him with situations twice ( willing to pay) he gave me free advice both times and told me there was nothing he could do for me that I could not do for myself. I'm not really sure who his target client is.

 

Just reading this forum, and paying my bills like crazy I've picked up 93 points in 5 months.

Message 5 of 14

Re: Credit repair

For instance  I have a first Premier bank card(credit card) my first reported missed payment happened Dec 2013. There was never a payment made or any type of agreement to make a payment or anything until I sent a letter asking for deletion if account is paid in full. I received notice back that they can not accept my offer, and the lady even told me just to wait a little longer and it would age off my report in Nov of this year. If that's the case this means this negative item has reported negative on my reports for well over 7.5 years. With knowing that I disputed the account because I feel it should have already aged off. The credit bureaus came back and closed dispute saying all information was verified with collections company. I wasn't disputing the ownership or amount of the account. I was disputing it still reporting after 7.5 years. 

 

Another case is a apartment I lived in, I fell behind on rent when I went thru back surgery so I moved out. If you go by the first date my account became late to now this negative account is also over 7.5 years old, but will report on my files until March 2022. Again I disputed account, not because of the amount or ownership but because of the age of account. Again it was closed saying all information was verified. 

 

Do I have any options to fight this, or should I just hold out until bureaus decide to age the account off? 

Message 6 of 14
OmarGB9
Community Leader
Super Contributor

Re: Credit repair


@Horseshoez wrote:

@davidsmithsc712 wrote:

Thank you. One question I do have, are there options for me if a collection has reported more than 7.5 years and disputes have came back in collection companies favor? I've clearly looked at the dates from my first missed payment and one account for sure should have already aged off. 


I'm not sure I fully understand the scenario, but as I understand it, once past the SOL, you can have the collection removed from your reports.  If all you did was dispute something which was in fact valid, just to see if you could get it removed (something which is not a good idea), that activity shouldn't rise to the level of resetting the date from a SOL perspective.  However, there are certain scenarios where if you agree to pay something and then don't follow through, the SOL date can be reset.  At this point, if you provide some more information here, other more experienced "myFICOers" may be able to chime in and give you more refined guidance.


Not quite. The SOL is merely the period for bringing forth legal action against a consumer. What dictates the removal from credit reports has absolutely nothing to do with SOL. The credit reporting period is 7.5 (usually just 7 though) years from DOFD, which is the date of first delinquency, or the date when a payment was first missed and the account went into default and never got back current.

 

OP, as I described above, the DOFD is what is used to determine how long a negative item stays. You mentioned a first missed payment with First Premier in Dec 2013. Did you eventually make up that payment and bring the account back current? If so, then that resets the DOFD. As I said above, DOFD is when you get behind on payments and stay behind and never catch up (usually resulting in a Charge Off after about 6 months). As for the Apartment account, I have the same question. Did you miss a payment and go late but then catch up later (even if only temporarily)? Also what date was that?

 

Finally, absolutely stay away from credit repair companies. All they do is charge tons of money to dispute endlessly with your creditors and send out letters that can result in further dings to your scores and just make things worse. They do more harm and than good, and the money you waste on their "services" could be better used towards your actual debts. You can negotiate payment plans/pay for deletes yourself for free. If some creditors don't agree to it, then you can't force it and have no choice but to pay and at least close out the accounts, or just wait it out until they fall off.


Last App: 05/30/2021
Capital One Auto Refinance Loan

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 7 of 14

Re: Credit repair

Never caught up on either after first missed payment 

Message 8 of 14
gdale6
Moderator

Re: Credit repair

If you have proof of the DoFD (credit reports from earlier years showing it or when it will be removed, etc) then you would submit this proof to the CRAs with demand for exclusion of the TLs based on their age. A complaint to the CFPB might also be in order if they fail to comply.

Message 9 of 14
Nikita2008
New Contributor

Re: Credit repair

I honestly consider credit repair completely useless. All they did was send out dispute letters without grounds. I didn't lose any points from it, but they only sent out one round before I canned them.

 

I saw some increases in my score with balance decreases. I did better on my own.

Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.