On my way

Mar 202011
 

Well, I’ve been working on my credit for a few months now, and I’m glad to say that I have gotten 5 collections DELETED off of my credit reports!!! Debt Validation letters DO work!!! I have one more to take care of, Arrow Financial, and I’m sending them a DV letter tomorrow. Does anybody have any experience with Arrow? Good? Bad? Also, does ANYBODY know how to get an original creditor off of my credit report? HSBC says that its not their policy. Any backdoor methods? Any info will help. Thanks in advance.

Question on Collections Account

Feb 222011
 

Follow this maze: My wife made a serious mistake with a credit card and made some decisions without my knowledge (she panicked a bit when a company threatened legal action), but here are the dots I’ve connected looking through her credit reports.

 

She had a Chase account with a balance over $8,000. The account is listed as transferred to another lender in Dec. 2007. My assumption is Arrow Financial (who I’ve seen mentioned negatively on these boards and elsewhere) took the debt, as there is an entry on her credit report from Arrow beginning in Dec. 2007 w/ a similar balance. From there, I believe the account was sent into collections beginning in the summer of 2009, to a company called Brachfeld Law Group in Texas. A quick Google search showed that Arrow and Brachfeld appear to be connected.

 

My wife was contacted by Legal Advocates for Consumers in Debt, a company I believe that is located in Chicago. They are paying $245 a month to Brachfeld (the statements from LACD are how I tracked down their name) and taking their $40/month off the top. Not ideal and probably not what I’d have done had I really known the situation, but at this point, it is what it is.

 

Here are my questions.

 

1.) On her credit report, Arrow continues to show balances in the $8,000 range and is listing the account in Collections, though it appears in the Closed Accounts section of her report. Is this OK? Should the entry from Arrow be reflecting a new balance? Should it continue to appear every month as in collections?

 

2.) Without knowing the full balance of the account as I’m typing this message (my guess is she’s paid between $3-5,000 by now), what is the best way to go about having this item removed from her report as a collections account? It seems Arrow is awfully difficult to deal with based on what I’ve read. Is it even worth contacting them or their collection agency to determine a settlement?

 

Hopefully this isn’t too confusing. I normally just read and don’t post, but I’ve worked hard the last year or so getting my credit straightened out and would like to do the same with hers. I wasn’t in nearly as bad a shape as she is at this point (I just had some debt to pay down), but it seems like we won’t be able to get much done before tackling this issue and would appreciate any help.

First Premier Updating Date Reported?

Dec 242010
 

Happy Holidays everyone!  I just had a quick question about First Premier.  I did a search on the boards and I read that the date of default should be what CRA’s go off of to determine when the CO will fall off of the reports.  This card I got back in 2005 or 2006, I know that it wasn’t 1/1/2006 though as they reported.  I defaulted on it after being unemployed for several months and that was around April of 2006.  

 

The CA, Arrow Financial is no longer on my reports.  FP  is reporting $0 balance with the CO.  Previously they had mid 2008 as ‘date reported’ which is when I assume they sold it to Arrow?  2 years after DoD.  Letters have been sent to FP to try and get them off my reports with no luck, they haven’t responded to any communications, they just hit up Equifax every couple of months for Account Information.

Today I get an alert from TrueCredit that there’s a change to my reports and log on to find that FP has updated the ‘Date Reported’ to 12/2010?  I have not agreed to nor attempted to make any payments to them as the balance is 0 and it is a CO on an account from nearly 5 years ago.  

 

Has anyone had anything similar to this happen to them before without the OC communicating with you?

 

 

 

 

sol expires..

Dec 102010
 

ok, i have  arrow financial on my report  (DOFD 12/04) that is set to run out of SOL (MA is 6 years) what do i do when it expires…pfd? it comes from a premier or cortrust card i think.

collections vs. judgment

Dec 102010
 

a collection is not on your public record section, but a judgement is correct?         also, arrow financial has been sending various CA’s after me (by mail and phone) the past couple of years, but none ever posted a collection on my report  (only arrow financial,but not under “collections”) but NCO just posted a collection for an old elec bill….. think arrow might not have a lot of proof or material to validate? (its an old card that isnt offered anymore).

REALLY need your help and advice!

Dec 072010
 

Hello to all.

 

I am trying to fix up my credit for a secret clearance I am applying for, for my job, and I really need your help.  Currently, freecreditreport dot com is stating my credit score at 562, and myfico score watch is showing 515.  I am going to list my creditors so that you can know exactly where I am at.  My goal is to get as many “baddies” removed as soon as possible (PFD’s) to raise the chance of getting a clearance.  I am not worried about a credit score so much (but I do want it to rise), I am more looking to get the bad items removed so that I look better on the report.

Here are my items in collections:

 

Experian per FCR.com:

 

Reporting Agency

 

Amt Due

 

Opened

 

 

 

 

 

Account Recovery Systems

 

312

 

6/1/2009

AIS Services LLC

 

710

 

3/1/2008

American Property Recovery

 

128

 

11/1/2009

AMSHER Collection Services

 

401

 

1/1/2006

Arrow Financial Services

 

813

 

7/1/2008

Credit Management LP

 

206

 

10/1/2008

Enhanced Recovery CO L

 

1573

 

2/1/2010

Equidata

 

131

 

9/1/2010

Healthcare Funding SLT

 

119

 

3/1/2010

Merchants and Professional

 

79

 

2/1/2008

Midland Credit Management

 

516

 

9/1/2010

Midland Credit Management

 

655

 

6/1/2008

Payliance

 

57

 

2/1/2008

ProCollect

 

1921

 

11/1/2008

Williams & Fudge

 

1233

 

3/1/2010

Williams & Fudge

 

27351

 

3/1/2010

 

Equifax per MyFICO Score Watch:

 

Reporting Agency

 

Amt Due

 

Opened

Cornell University

 

1233

 

Mar-10

Cornell University

 

27351

 

Mar-10

Unknown

 

159

 

Aug-09

Unknown

 

226

 

Aug-09

Unknown

 

104

 

Nov-09

Healthcare Funding SLT

 

119

 

Mar-10

ProCollect

 

1921

 

Nov-08

Enhanced Recovery

 

1273

 

Feb-10

Cox Cable

 

139

 

Sep-10

Unknown

 

32

 

Apr-07

Account Recovery Systems

 

312

 

Jun-09

TX Gas

 

79

 

Feb-08

Comcast Houston

 

206

 

Oct-08

Payliance

 

57

 

Feb-08

 

If you have any experience with PFD’s with any of these companies, please let me know.  I have about $3000 I can use for PFD’s and want to get that process started. 

 

How long does it usually take from asking for a PFD to the account being deleted from your report?

 

Thanks in advance for all the replies and advice.  I really appreciate it!

What should I do next?

Nov 222010
 

Hello everyone!

 

I’m new here, so please be gentle if my questions have been repeated elsewhere.  (I’ve been on other forums where long-time members only reply “go read such-and-such topic”) 

 

The objective: Improve my overall credit picture, credit score, and obtain a loan for a used car ($10,000 – $15,000).

 

The situation:  My EQ score is 614.  I have no positive open accounts.  I have 8 closed accounts.  7 accounts are negative, 1 positive.  The one positive is a car loan that I finished paying on 06/2002.  The negatives are Arrow Financial (CA for 1st Premier), 1st Premier (OC), Portfolio Recovery (CA for Captial One), Capital One (OC), Consumer Portfolio Svc. (CA for car loan), Midland Credit Management (CA for unknown OC), and Direct Loans (student loan OC).  Now, there are a few things I’ve noticed since pulling my credit report from EQ.  For starters, all the OC’s were charged off/in collections and all OC’s have passed my state’s SOL.  The Direct Loans has been paid off and reflects a $0 balance, but still shows it’s a collection account.  Only 2 OC’s are listed, but 3 CA’s are reporting, so one of the CA’s has an OC that seems to not be reporting.  So, essentially I have 3 accounts with a $0 balance, and 4 with varying balances (all below $1,000 except for the repo. car loan (Consumer Portfolio Svc)).  The baddies are scheduled to fall off my CR on 10/2013, 09/2013, 01/2013, 10/2013, 09/2013, 09/2013, and 04/2014 (July, August, and September of 2006 were bad times for me financially).

 

My question is, what should I do next to improve my CR AND CS?  I’ve been considering PFD’s, but I’ve heard they don’t increase your score, especially since the balances are all with CA’s.  If I contact the OC’s with a PFD, assuming they accept and force the CA’s to report $0, will that affect my CS?  Is it even possible to offer a PFD to the OC since they show a $0 balance?  Should I offer the PFD to the CA instead?  Almost all the negatives will be gone by 10/2013, so whatever I can’t get removed I’m somewhat willing to wait for it to fall off.  Also, since I don’t have any open accounts (no mortgage, car, or credit cards), I’ve been considering opening a secured credit card or two and “sock drawer”-ing them to try to reestablish good, open credit.  I’d prefer to open 1 secured CC and one store CC, but I’m afraid to apply at random stores for fear of lowering my score further.  Are there any stores that people know of that will lend to bad credit applicants?  (I live in north Florida, by the way).  I figure I can get into the 650 club at some point next year, and eventually the 700 club, but I’m wondering what’s the best and perhaps fastest routes to getting there.

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