Introduction/credit report strategy

[Anonymous]

Hello,

I wanted to say hello to everyone in the forum.  This is my first post to the forum, seeing that I thought I'd never need the assistance, but who really does?  I've been researching my credit situation and have come up with a strategy that I'd like some feedback on:

I pulled my credit report from the reporting agencies and it's not too bad, but bad enough.  The breakdown goes like this:

Experian:  1 60 day late, 4 collection, 3 charge off

Trans Union:  1 60 day late, 9 collection, 2 charge off

Equifax: 1 60 day late, 5 collection, 3 charge off

On Experian the 3 charge offs account for 3 of the 4 collection. On Trans Union, 1 of the 9 collections are charge offs. On Equifax, 2 of the 5 collections are charge offs.

According to Experian, anticipated collections will be removed Oct 2011, Dec 2011, Apr 2012, Sep 2012; anticipated charge offs will be removed Oct 2011, Nov 2012. One of the charge offs has no date reflected.

According to Trans Union, anticipated collections will be removed Jul 2011, Jul 2011, Jul 2011, Nov 2011, Dec 2011, Feb 2012, Mar 2012, May 2012, Jun 2012, Nov 2012; anticipated charge offs will be removed Jan 2012, Feb 2012.

Equifax shows no anticipated removals.

My intention is to debt validate the collections and dispute the late payments and charge offs.  I anticipate by some of the dates mentioned that some of these will fall off by themselves, but for others I have to be proactive.  I had to go back to school after losing my job (major part of the problem) and would like to have a number of these resolved before I start interviewing next year.  Any thoughts?

Thank you in advance.

[rckstrscott]

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@Anonymous wrote:

Hello,

I wanted to say hello to everyone in the forum.  This is my first post to the forum, seeing that I thought I'd never need the assistance, but who really does?  I've been researching my credit situation and have come up with a strategy that I'd like some feedback on:

I pulled my credit report from the reporting agencies and it's not too bad, but bad enough.  The breakdown goes like this:

Experian:  1 60 day late, 4 collection, 3 charge off

Trans Union:  1 60 day late, 9 collection, 2 charge off

Equifax: 1 60 day late, 5 collection, 3 charge off

On Experian the 3 charge offs account for 3 of the 4 collection. On Trans Union, 1 of the 9 collections are charge offs. On Equifax, 2 of the 5 collections are charge offs.

According to Experian, anticipated collections will be removed Oct 2011, Dec 2011, Apr 2012, Sep 2012; anticipated charge offs will be removed Oct 2011, Nov 2012. One of the charge offs has no date reflected.

According to Trans Union, anticipated collections will be removed Jul 2011, Jul 2011, Jul 2011, Nov 2011, Dec 2011, Feb 2012, Mar 2012, May 2012, Jun 2012, Nov 2012; anticipated charge offs will be removed Jan 2012, Feb 2012.

Equifax shows no anticipated removals.

My intention is to debt validate the collections and dispute the late payments and charge offs.  I anticipate by some of the dates mentioned that some of these will fall off by themselves, but for others I have to be proactive.  I had to go back to school after losing my job (major part of the problem) and would like to have a number of these resolved before I start interviewing next year.  Any thoughts?

Thank you in advance.

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Welcome to the forum!

Are the disputes valid? Did you not have those late payments? Are these accounts not charged off?

It will be strongly encourage by the membership of this forum to NEVER dispute something that is legitimate. One, don't worry, it will be validated and two, it will be deemed frivilous if you discover in the future they actually WERE valid disputes (meaning you had the statements or whatever showing you never had a late payment)

 -- in fact, most of the vets on here agree to never, ever dispute with a CRA.

What companies are the charge offs from?

In regards to the DV letters to the collections, I think you are right on the money. It appears these collections are pretty old, they may not even validate it if they are about the come off and they may come off early. What state do you live in? Do you know the SOL for debt?

To be honest, it looks like most of the stuff is going to fall off in a year.. What is your hurry to get them to fall off now?

-scott

[RobertEG]

If the collections are that old, and if the debt collector sent you a collection (dunning) notice, then your 30-day period to send a timely DV letter has probably long-expired (unless you live in Texas).  They will, with the exception of the Texas version of the FDCPA, have no requirement to even respond to an untimely DV letter.  Give a DV a shot, but it now seems to have little teeth.

As for disputing, what are your grounds?  Disputes must assert an inaccuracy in credit reporting (that is what they are there for), and can be dismissed as frivolous or irrelevant if absent any supporting documentation that would enable the furnisher of the information to investigate your assertions.

Your plan seems a bit lacking in basis for  the proposed actions.  What information is inaccurate, and why/how can you support a dispute of its inaccuracy?

[Anonymous]

The thing is that each account appears with different information in the TL for each CRA. And with some of this information repeated within the CR with different information, trying to sort out the correct who to pay what is proving to be a large task, that is why I'm proposing the actions I outlined.  As far as SOL, I lived in a few different states due to my time in the military, so I'm not sure which "clock" to use.