Just getting started

[baskball33]

Ok, so I found this site today.  Spent almost my entire work day reading (ssssshhhhhhhhhhhhhhh).  I have been monitoring my credit report for a couple of years, just doing what I can to improve it.  I've made very small gains just by having two credit cards with very good standing.  One thing that hurts me with them is they are very low limit.  I get an increase every 6/12 months, but that is the best I can do there. 

So, my first step after reading today was to get all of my reports at freecreditreport.  I only monitor experian and order the others now and then.  I was getting ready to send out some DV and PFD letters but I was determined to find the dates that some would drop off my report because most of the debts are very old.  So sure enough I found the dates on my TU report.  This was very excited.  Some dates are very close approaching so I don't think it would be worth even a PFD.  I will give you the details for these and hope that  you agree?

Medical - $162   Estimated date it will be removed 9/10

Medical - $105   Estimated date it will be removed 6/12  (more on this one to come)

Cavalry Portfolio - $129 Estimated removal 6/10

HSBC Bank - Charged off as bad debt - Estimated removal 10/10

NCO Financial - Payment after Charge Off/Collection - Estimated removal 9/10

Unique Nat'l Collection - $95 Estimated removal 11/11 (Plan do to a PFD on this account, though I did read that they have a policy with the CRA's to delete after 1 yr)

Now, beyond the obvious question of is this a good plan of attack, to basically wait most of them out, I do have a question about the medical bills.  They are both listed with the same CA.  I plan to let first one fall off in September.  The HIPAA process seems to be very tedious/time consuming process to go through for $105.  Would it be worth it to do a PFD?  Would the company even consider it being that I let the other one go?  In that case would I be better off going through the HIPAA process for both? 

Ok.  This post is long enough.  I have already gotten so much information from this site.  I will read more and get started on this process before I tackly anything else. 

Thanks for any and all advice anyone can offer.

[Anonymous]

FYI, annualcreditreport.com is the site you want to go to for your yearly free reports - it will also not sign you up for a monthly service, etc

[baskball33]

Sorry, that was a typo.  I did go to annualcreditreport. 

[RobertEG]

I do not recommend that you use estimated dates of drop off.  They are just estimates, and have no legal status.

Know the relevant legal date, and go from that.

Collections have a statutory drop of date under FCRA 605(a)(4), as clarified by FCRA 605(c), at 7 1/2 years from the date of first default (DOFD) on the original credtior account.

So focus first on your OC account records, not CA records.

Find, for each OC account upon which each collection was based, the date that you first went delinquent on the OC account, and never brought the OC account back into good, paid status before the collection was repoarted.  This is usually your last  30-day late on the OC account.   Ignore subsequent 60/90/120+ lates, as well as the date of collection.

Add 7 1/2 years from the DOFD with the OC.  That is the drop off date of any collection on the OC debt.