Deletion letters

Mar 142011
 

This is my first post. I’ve been a longtime reader, just haven’t signed up till today. This is my situation. I recently pulled all of my credit reports and saw that I had 4 charge offs and about 6 collections. Everything is from 2006, so they are well past the SOL in my state (Louisiana). I went through a stupid time in my life when I was drinking a lot and gambling a lot and really didn’t know just how much having bad credit can really **bleep** you over later on in life. I’ve since gotten married and have 2 kids and a baby girl due in august. Anyways, I sent some DV letters to 5 of the collection companies and 4 of them sent letters back saying that they are going to delete them off of my credit report. The 5th one I decided to do a pay for delete. I have the letter saying that if I paid $350 he would delete the trade line. I sent him the money return receipt, and he sent a $0 balance letter back. My questions are these. 1) can they put the deleted accounts back on my credit report after they delete them? 2) how can I get the original creditors off of my credit report? Like I said, everything is from 2006. So I only have to wait a couple more years for them to drop off. By the way, the pay for delete was from a collection agency that bought a debt that is showing on my credit report (the OC was HSBC), can I send HSBC proof that I paid and will they delete it? Or should I just wait it out. Everybody I’ve talked to said to just not worry about it because any debt over 24 months old is not really hurting your credit. Thank you all for all of your help in the past and in the future.

Woo hoo Hit one of my first goals 640 across the board!

Mar 122011
 

The ultimate goal I have is  purchase and move into a house before the end of this year.  I have broken this path into a couple sections.  First thing I had to start  new trade-lines. When i first  got into financial trouble I cancelled all my cards, even the ones in good standing. Mistake on my part.  I took the credit hit on inquiries and opened 4 new accounts. Two have began reporting, and waiting for the other two. Fingers crossed that the further lowering of my AAoA won’t pull me below 640.

After getting these new lines going I turned to the baddies I had on my reports. I had two charge off’s I PIF, they wouldn’t do PFD’s, so now I will drops $30 in stamps ink and paper GW them to death.lol   I have one last baddie to attack, past the sol and from reading this board very PFD friendly. This will not only remove another derog, but get my utl% from over  %100 to %20.

 

680′s by Sept So glad i found this site.

Getting calls and letters but not on my CR

Mar 122011
 

Lately I’ve been getting calls and letters from Portfolio Recovery stating that I owe a debt of $346.59. Admittedly I did have some credit problems in the past but I have no idea what this is for. Thing is, I’ve checked my credit report and this is not on there at all so it makes me wonder if they just bought an old debt and are now trying to collect even though it’s past the SOL. They have offered to settle for 50% or let me make payments but I haven’t responded to any of those. So since this isn’t showing up, should I just ignore them? If I send a DV letter will that open myself up for more problems?

Making Decent Progress in 30 days…..

Sep 162010
 

I sent off abunch of GW letters in the last few weeks and also disputed a bunch of items with the CRA’s. Since 8/20/2010, the collection accounts (2) with NCO have been deleted just by disputing them with the CRA’s. Today I recieved a letter from Capital One stating that they have deleted one of two accounts that have been charged off back in 2005. HSBC would not delete the charged off account from 2005, however they have eliminated all late pays. Recieved a generic letter from WFNNB that states that my PacSun account (Charge off 2005) was sold to Palisades. I asked for a GW adjustment and they responded with “Please be advised that your PacSun account was sold to Asset Acceptance November 20, 2007.” I already knew that….. Anyone had a similar letter from WFNNB? Any success?

 

I have also recently discovered that the remaining collection accounts (1 from palisades, 1 from Asset acceptance) are past the SOL for my state. How should I proceed with them? I disputed ownership of the accounts via the CRA’s and they came back verified. Should I DV them? I have seen tons of DV letters, but not sure which ones are accurate as to the information contained in them.

 

I am also sending another GW letter to Cap One for the other charged off account that I had with them.

Old AMEX account – how should I handle this?

Sep 122010
 

I have an on AMEX chargeoff  ($3800) that’s still being held by AMEX. It’s past the SOL but still shows on my CR at this point.

 

They sent me an offer to settle for 60% of the balance. AMEX has also offered a payment plan for the settled amount.

 

I don’t really see a huge advantage to paying the full amount at this point so I think I’m going for the settlement.

 

1) If I pay the settlement amount could they reset the SOL and sue me for the remainder?

2) If I go for the payment plan, could they also reset the SOL and try and sure me?

3) Any other suggestions/input on how to handle this?

 

They sold the account to a CA but the only helf it for a few months as AMEX has taken possesion of it again. Their letters seem pretty sincere that the want to handle this the right way but I’m just not sure.

 

 

Charged of cc cards showing recent balances

Sep 072010
 

If an cc has been charged off and is past SOL for my state, why do some reports show recent balance as of 8/2010? The other acct shows the date of charge off 7/2010.   Is there a correct way for these to be showing on my report?  Next question, cc that have been charged off and past the SOL , how much of an impact do they have on a FICO score and at what rate do they begin to have less of impact?  Thank You

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Collection placed on my CR; acct is past S.O.L., HELP!

Aug 112010
 

Hi everyone, new guy here!  This morning I received an alert from TrueCredit that a “Major Derogatory” acct was placed on my Experian report. I’m trying to determine what steps I can take to fight this, if any.  Below is a background and with many other americans, “life happened”, and I let my perfect credit go down hill after loosing a family member.  I know, it’s not an excuse, but I would appreciate positive responses.

 

Original Creditor:

American Honda Lease, voluntary repo.

Deficiency amount $7421

Original date of Delinquency:  Nov 2005.  No reaffermation of debt after this date. (PS, I’m in California).

 

Through the years, American Honda made minimal attempts to collect.  It was sent to various collection agencies but they would not contact me after a few months.  Those agencies never placed anything on my reports. 

 

As of 8/11/10, Experian reported:

NCO Financial

Alert type:  Grid Code G (Collections)

Derogatory Amount:  $7421

 

Along with this American Honda loan, I had some credit cards that were derog, I have sense paid those off.  From 2006-Current, I have no late payments or current negative reporting.  This Honda account is past the SOL, so legally they can’t pursue this as a civil matter, but how do collections work?  It’s my understanding that it will drop off after 7 years, but do I have to deal with a collection account on my report for two more years? 

 

My credit is (was) on it’s way to good standing and I need to do everything I can do resolve this.  As of last month, my True Credit Vantage Scores were:  TransUnion 743C, Experian 708C, and Equifax 740C.  I don’t even want to look at how much it dropped now!!  Obviously my true FICO score will be much lower than Vantage.  I need feedback from anyone who understands CA collection laws.  Thanks!

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