need help finding where to start

[Anonymous]

Hi, I am a senior in college and I recently tried renting a car and was denied because of my credit. This was surprising, as I thought I had relatively no credit history let alone blemishes. but yes I am a ignorant kid finally facing the world totally unprepared. so I got a credit report from experian. I'm trying to understand it all but it doesn't look good. I have 3 negative-looking accounts in my history, one that says "paid, was a collection acct, insurance claim or gov't claim or was terminated for default", another that says "paid, was a charge off", and the last one "seriously past due date / assigned to attorny, collection agency, or credit grantors internal collection dept" the oldest account I think might have been a hospital bill that I couldnt afford to pay and foolishly believed my dad when he said he would take care of it. it was eventually paid. the second I think is a credit card that was in my name but yes, my dad paid the bill. well at least for awhile. I just paid it when the collector called me, out of my student loan money, because I didn't know what else to do. the last recent one is for 38 dollars and I have no idea what its from, should I call the number listed? I don't know what I really can do, i feel my father (who has never once been able to finance anything while I was growing up) sure hasn't helped the situation and I just don't know who to turn to or what to do. It's just so shocking all this real-world stuff that I have been oblivious to for 20 years, and now it all hits and I feel its already too late thanks in advance for any advice

[RobertEG]

Hi amc! Yup, it is not uncommon for old CO and CA accounts to pop up.

I would always, as a first step, validate the debt and when it occured.  Dig out your records, with specific emphasis on locating the date of default of the debt.  Validation by the CA or OC can also be obtained by a DV or HIPPA  process under the FDCRA, which may be required if you cannot validate it yourself. Dont call them!  All certified mail.  I would not pay a penny until all validation is completed to your satisfaction.    I also would not pay until I had first attempted to get a PFD agreement from them, for simply paying without a PFD wont get it out of your CR.

Regardless, you must obtain the DOFD, which is the first date in the last chain of delinquencies on the default account.  The delinquency cannot continue to appear in your CR, by law under the FCRA, for more than 7 1/2 years from that date, regardless of when it was placed as a charge off or collection, or whether you have made any partial or full payments. 

As a separate matter, the SOL also runs from that default date.  Add your state SOL to that date, and that tells you the date after which they can no longer obtain a court judgment on the default.  It has nothing to do with your CR, but is important to know in the legal process.

Good luck! 

[Anonymous]

Thank you very much. How do I go about doing a DV for the CA/CO's?