How to gain more credit points? What should I do next?

[SouthJamaica]

---

@Remedios wrote:

Umm, no. Settling doesn't extend reporting period, nothing does. 

I stand corrected

Pay for delete works just fine with settlements.

I stand corrected

Do not dispute valid negatives, that's a credit killer. If just one comes back verifed, all the effort goes down the drain. 

I beg to differ. If it comes back verified, nothing is lost.

---

[SouthJamaica]

---

@Anonymous wrote:

---

@Remedios wrote:

Umm, no. Settling doesn't extend reporting period, nothing does. 

Pay for delete works just fine with settlements.

Do not dispute valid negatives, that's a credit killer. If just one comes back verifed, all the effort goes down the drain. 

---

I have to agree with @Remedios .

Settling debts do not extend the 7.5 year reporting period. Nothing can change the DoFD once the account is closed with a negative status (CO, repo, fc, etc.).

I stand corrected

You can settle for less and PFD, but do not expect it from all CAs.

I stand corrected

Some CAs may require you to PIF for the PFD or you settle for less and the derog remains. 

Disputing valid accounts can hurt your scores when they are updated/verified.

I disagree. If it comes back verified, it stays there. Nothing is lost.

Credit Karma literally states on theur app/website that dispute cannot hurt your scores, but this is most definitely untrue. The longer since the last update, the bigger the hit to your scores. Depending on what is reporting, the creditor may even tack on additional (valid) lates that they may have not previously reported.

I have a couple accounts that look much better on one bureau than the others, and I have opted to not dispute (even with valid reason) because from previous experience, even if disputing with only 1 bureau, the creditor updated all 3 bureaus, and changed the less negative account info on the one bureau into a much worse account history, which was valid, but still really hurt, and now I am stuck with it. This is called "poking the bear". So I also suggest to look over all 3 reports to decide, even if it is a valid dispute, if what you are disputing is really worth it.

Good luck!

---

[Remedios]

---

@SouthJamaica wrote:

---

@Remedios wrote:

Umm, no. Settling doesn't extend reporting period, nothing does. 

I stand corrected

Pay for delete works just fine with settlements.

I stand corrected

Do not dispute valid negatives, that's a credit killer. If just one comes back verifed, all the effort goes down the drain. 

I beg to differ. If it comes back verified, nothing is lost.

---

---

Again, wrong. 

When you dispute a CO from 5 years ago, and it comes back verifed, it makes derog appear more recent, as in date it updates. 

While it doesn't interfere with removal since it's based on DOFD, it causes significant loss in points, which isn't something rebuilders can afford, and it can be quite defeating. 

What you're describing is the tactic "credit repair" agencies utilize, and after they are done, people show up here, wondering what went wrong. 

Some older collections may not come back verified, they might even get deleted, but again, all it takes is one derog to verify. 

If mindless disputing was all it took, no one would have poor/bad credit. 

[Anonymous]

As a best practice, accurately reported items shouldn't be disputed.

[Anonymous]

Goodwill for charge off account? humm.. I've submitted Good will letters for the removal of late payments with Cap one and was susccessful. I'm curious as to how this woul work on a charged off account? This account was a furniture bill for $1600 I think maybe 3-4 payments were made before the account went into negative. This account is due to fall off May 2022. Would you suggest I try and send a Goodwill letter for this account or more of a debt settlement letter? This account also went to court but the Judge dismissed the case due to "cause pending more that 60 days from answer date, it is therefore ordered, by rule of court that all pending causes of action are herby dismissed for want of presecution , without prejudice, at plaintiffs costs" ... I honestly was just going to leave this one alone?

[Anonymous]

Thanks for your feedback! 

I can say that everytime I have disputed the CA the amount increase/decrease $1. It's really a pian in the you know what so I was thinking I'll just pay this collections account. I have sent the PFD to the CA (Ad Astra) they have ignored that. So, I logged into the Speedy Cash website sent them a message, I received a message that someone will contact me in 24-48 hours nothing yet, I think I just need to make a payment and then dispute the collection agency again through the bureaus?

[Remedios]

Ad Astra deletes upon payment. 

Most original creditors will not GW charge off, but you can try. Just make sure you are perfectly clear you are not disputing with them, you are attempting to do a GW removal. 

If you have other collections, here is the link for thread dealing with various CAs 

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Collection-agencies-that-do-PFD/td-p/5675391

[Anonymous]

@Remedios 

Thanks for your feedback! Yes, I'm just going to pay Speedy Cash direct and follow up with Ad Astra to have them remove the collection. I have never heard of sending a GW for charge-off neither. I'll just let that one slide until next year when it's due to be removed. I was only disputing it because it is a charged off account and was reporting late payments which If i read correctly in the FCRA this is not possible. 

Thakn you for the additional resources!!! :-)

[Anonymous]

---

@Anonymous wrote:

@Remedios 

Thanks for your feedback! Yes, I'm just going to pay Speedy Cash direct and follow up with Ad Astra to have them remove the collection. I have never heard of sending a GW for charge-off neither. I'll just let that one slide until next year when it's due to be removed. I was only disputing it because it is a charged off account and was reporting late payments which If i read correctly in the FCRA this is not possible. 

Thakn you for the additional resources!!! :-)

---

I would still work wirh AD Astra instead of Speedy Cash since AD Asrra does PFD and will settle for less. 

I was able to negotiate my $897 balance for $500, no problem. They just had double check with a supervisor since it was less than they offered, and said, "yes", quickly.

Have a number in mind and give it a go! You never know, they may be willing to accept it.

I always prefer dealing directly with the CA, eapecially ones that PFD, because then there is much lower chance of the OC messing things up. Paying the original creditor does not force the CA to delete, just update to $0 bal, unless the OC recalls the debt from the, which is a lot of extra steps and hoping there is no mistakes when the CA already does PFD.

AD Astra is the "in house" CA for Speedy Cash, so it should be easy and straight forward.