The title says it all. I need to get started and after much reading I am still overwhelmed. I need to get some collections and a tax lein, and BK7 discharged off my report. If someone on here is willing to guide me along I will provide whatever info I can to get this process started. I am not sure what order to start sending letters in and to whom to send them first, CA or OCs. All I know is I have procratinated enough and need to do something. I am on the right track as far as paying bills on time, have a couple credit cards now, with excellent history on them. But these other things are haunting me and my goal is to get a house before the end of time. Thanks, Joe
Have you pulled recent credit reports from all 3 CRAs? If so, post more specifics on all the negatives and we can try to help you devise a strategy to get the process started.
OK, I have been monitoring thru Credit Keeper for about a year now, I know its not a 100% accurate but it gives a lot of info also. 1. HSBC BANK HSBC BANK Account Number: Account Type: Revolving Revolving Revolving Account Status: Closed Transferred Paid Monthly Payment: - $0 - Date Opened: 03/2005 03/2005 03/2005 Balance: - $0 $0 Terms: High Balance: - $300 $614 Limit: $300 - $300 Past Due: - - $0 Payment Status: Chargeoff or Collection Chargeoff or Collection 2.GMAC MORTGAGE GMAC MTG GMAC MRTG Account Number: Account Type: Real Estate Real Estate Real Estate Account Status: Closed Closed Closed Monthly Payment: - $0 $0 Date Opened: 08/2005 08/2005 08/2005 Balance: - $0 $0 Terms: 30 360 High Balance: $109,000 $109,000 $109,000 Limit: - - - Past Due: - $0 $0 Payment Status: Repossession or Foreclosure 120 Days Late 120 Days Late Comments: Conventional Real Estate Mortgage Foreclosure redeemed 3.Account Name: Collection (401YC03417) Account Number: D1XXXXXXX Account Type: Account Status: Monthly Payment: - Date Opened: 12/2005 Balance: $1,372 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: 24- Month Payment History This is an apartment I had but this is how its listed in report 4. Experian Equifax TransUnion Account Name: REGION/AMS REGIONS BK REGIONS BANK Account Number: Account Type: Installment Installment Installment Account Status: Open UnPaid Paid Monthly Payment: - $72 $0 Date Opened: 05/2006 05/2006 05/2006 Balance: $10,143 $10,452 $0 Terms: 72 72 High Balance: $16,297 $10,452 $0 Limit: - - - Past Due: $7,588 $7,588 $0 Payment Status: 60 Days Late Chargeoff or Collection Chargeoff or Collection Comments: Auto Profit and loss writeoff 5.Account Name: Collection (682YC05551) Account Number: 3XX8XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 01/2009 Balance: $100 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: This is Charter Communications, I was gonna just go ahead and send them a PFD for this??? 6.Account Name: Collection (885YA00026) Account Number: 10240XXXX097XXXX Account Type: Account Status: Monthly Payment: - Date Opened: 11/2005 Balance: $410 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection This is a City Utility Company 7.Account Name: ONLINE COLL Account Number: XXXXXXXXXXXXXX Account Type: Open Account Status: Monthly Payment: - Date Opened: 11/2005 Balance: $410 Terms: High Balance: - Limit: - Past Due: - Payment Status: Chargeoff or Collection Comments: Placed for collection Same as #6, just listed as online collection 8.Public Record Type: Chapter 7 Bankruptcy Date Filed: 06/2003 Amount: Case Number: xxxxx-xxx-02/05-VER-05/11 Defendant: Plaintiff: Line Status: Discharged Date Complete: ECOA: JOINT This is listed under Experian and Equifax only 9.Public Record Type: Tax Lien Date Filed: 05/2009 Amount: $4,114 Case Number: Defendant: Plaintiff: Line Status: Date Complete: ECOA: 10.Public Record Type: Tax Lien Date Filed: 05/2009 Amount: $1,743 Case Number: Defendant: Plaintiff: Line Status: Date Complete: ECOA: 11.Public Record Type: State Tax Lien Date Filed: 03/2009 Amount: $233 Case Number: Defendant: Plaintiff: Line Status: Date Complete: ECOA: JOINT TU 664 EQ 595 EX 674
I am hoping to get some $$$ back at Tax time to take care of some of these, my biggest worries are the Regions Bank, and the Tax Lien, I thought I read somewhere that you might can negotiate a payment plan with the tax lien to delete after so many good payments, any truth to this???? I have been sent a couple settlement offers on the regions bank, but cant find them at the moment, but if I recall they would settle for around $4500. The Tax Liens were with the State of Georgia and I now live in Alabama if that helps any. As Matter of fact all negatives were while I lived in Georgia.
The IRS has said that it's now possible to remove federal tax liens after they're paid, but I'm not sure about the state of GA. They may not. I would suggest reaching out to the Georgia state Department of Revenue to try and get an answer to that question. So, it looks like you filed bankruptcy in 2003 and then the rest of the charge offs or collections on your credit reports occurred several years after the BK. You can expect the BK to remain on your credit reports for 10 years. It's public record and very difficult to get removed unless you can actually get the BK vacated for some reason. There are all sorts of shady tactics out there for trying to remove bankruptcies, but most of them will be a big waste of time in my opinion. Fortunately for you, this should be dropping off your credit reports next year. How much money are you expecting to have available to settle/pay off these debts? Also, have you sent all of these collection agencies debt validation letters already? If not, that should be your very first step.
I am hoping to have around $6000, by mid February. I have not sent DV yet, I will get started trying to get addresses on them. Do These need to be sent CMRRR?
Yes, it's always a good idea to send CMRRR so you can keep precise records of when everything was sent and received.
Should I be sending any dispute letters to the CRAs?? If I owe $7 Grand on the Repo, Should I send a PFD and for how much??
If there's any inaccurate or missing information that you can dispute through the CRAs, do it. You may get lucky and something will get deleted without much more work on your end. Regarding the auto repo, have you researched what the SOL on this debt is in your state? You may want to look into that first before you move forward with a PFD. Also, has the CA contacted you yet regarding this account?
If I am reading right it looks like the SOL for Alabama is 6 years on a written contract. Car was Repoed in 2009, so that would leave 3 years for it to remain, I guess I need to go ahead with a PFD for it then. Gonna go ahead and send dispute letters to the CRAs tommorow along with DV letters to creditors also.
I'm not sure about Alabama, but do some more research on when the SOL starts to run in your state for an auto repo. In some states it's actually triggered by the Date of first delinquency, which I'm guessing could have been quite awhile before the repo actually occurred in 2009.
Or FAX and save the confirmation sheet. Same benefit of CMRRR, and they forget that the FAX machine gives you a receipt. (So they keep acting as if they've never received anything, and continue to violate.)
One logistical thing, I prefer to stagger the DVs a couple days before the CRA "I dispute this because" letters. Timing-wise it just works better for me.
Another Question I have is about the Foreclosure, I got a 0 balance on it with disputes last year, Should I go any further and try to get it deleted or be satisfied with the 0 balance?
If there's incorrect information regarding the foreclosure on your credit reports, go ahead and dispute it. That's your right. Even if you're unable to get the foreclosure removed, at least you don't have a deficiency judgment to deal with too. Over time, the foreclosure will have less and less of an effect on your FICO scores until it eventually falls off after 7 years.
