Kind of have an Idea but still need some help!

[Anonymous]

OK so here it is. Been reading through threads, stickies for the majority of this evening, learning what others have done and suggested while trying to get a grasp on all the acronyms/lingo. lol O_o. I have a few questions:

-PFD letters, I send this to the CA correct? ie. General Revenue, or do i send it to the originator [company]

-Currently my scores are EQ-584 EX-677 TU-574. My EX just recently changed from 620, not sure if it has anything to do with the fact i paid a $262 debt in pull two months ago....

So, I have two debts with General Rev total $860(2yrs old), two medicals total 680(4yrs old), a sallie mae paid as agreed, currently @ $8,575, and a US Dept. school loan @ $966. The one charge card I have is @ $0 balance.

Looking at my report, i dont see anything labeled "SOL", i see things like "COLL/P&L"-collection? " LACT" -Last action?

Id like some advice on what would be the best move for raising my mid score? Do i trim down my school loans? Do i wake the sleeping giants set up a payment plan? Do i send a PFD to General Rev? Or to the original source that sent the debt to Gen Rev?

sorry if im not making any sense or if i missed out some info, my brain is pooped from all the readinging, learned more than i knew prior so i cant be mad at that lol. Thanks in advice for all the help.

[Anonymous]

Bump

If the teo acounts open with general Rev originated from a school i attend a while back. Would it be best to send the PFD to the school?

[kjm79]

Hi and welcome to the forums!

You would send PFD's to whoever owns the debt.  Sometimes CA's report for the OC but the OC still owns the debt and can recall the account.  You want to find out who owns the debt.  Other times the debt has been sold to the CA and you can only deal with them. 

Your scores, what are the sources for your scores?

Before doing anything you will want to determine the SOL for accounts.  That won't be found on your report anywhere.  SOL is a legal defense when you are sued beyond the time allowed to bring a lawsuit.  This varies state to state and also varies on the type of account.  Reports will have a DOFD, date of first delinquency, or estimated date of removal.  This is the important date to remember as far as your reports are concerned.  CO's, collections, negatives fall off between 7-7.5 years from the DOFD.  Credit reporting time and SOL are two different beasts. 

To build your score you're going to want to show use on your credit card.  You say it's a charge card, store?  You'll need to get an actual credit card to help boost your score.  You mention wanting to raise your mid-score, for a mortgage loan I assume.  The new rule that started this month (I think) is that any collections, charge offs when added altogther are more than $1000, they will be required to be paid.  Paying your school loans down won't make much of a difference in your score.  Installment loans have very little weight when it comes to FICO scoring.  You're going to want to take care of the collections.  That's where the PFD's and GW's come in. 

[Anonymous]

First, THANK YOU A MILLION TIMES FOR RESPONDING.

Ok, I now understand the PFD process. So my plan of attack would be to first find out the SOL for the two GR debts in my state, if i am still within the margin I would then send a PFD letter to the OC? Which in this case would be the local community college. Im assuming i can not just call the school and ask for a PFD since verbal agreements carry no weight yes? Once i get the SOL and DOFD this will tell me wether or not to submit a PFD Letter. Bottomline the Debt needs to be paid, Im taking a shot to revome it from my CR immediatly vs Date of removal.

My scores were taken from a lender pull, i then went online an equifax score and report. Experian ive always had a membership, and i just recently established an account with myfico.

My charge card belong to pepBoys, do i apply for a new line of major credit now or can i play with that one? Ill keep off the school loans for now and focus on getting the Debts out. I read on here that medical bills are handled differently, I will search to see what i can find on dealing with them
Thanks again