Ontrack: Just a quick question with regard to something I found on my credit file. The two items I am trying to remove in crunch time.... both list as : Loan Type: Collection Agency/Attorney. Is this put on by the CA or is this put on by the CRA? Is there anything in that statement? I know they aren't an attorney. Sure...its a stretch, but I'm diggin. Thanks, reatha
It may go back to what type of data furnisher the DF checked when they filled out their contract with the CRA. May or may not be accurate now, or may mean generically a collection agency or a collection attorney. In their contact with you, either by phone or letter, has this CA claimed to be a law practice? Have individual callers claimed to be attorneys? If they weren't, that could both be an FDCPA violation, and might get them in trouble with the state bar where they are located.
These accounts are so old I don't have the original. I know...bad news, but I don't. How would you suggest I go about finding out if there is anything to this or would you just leave it alone?
Depends on what your goals are. What are your FICO scores at, and what is it worth getting them to to meet those goals? Are your current scores affecting your ability to obtain credit to meet your goals? How old are any remaining negative items, and how long before they just fall off?
My FICO is between 650 and 700. I was hoping to give the DV letters time to come back and investigation results time to come in before I pull my scores again. I don't do a monthly FICO like many on here do. I suppose I really should. I really need at least a 700 for a prime interest rate. One of the items will fall off in about a year, but it has the highest bal of the two. The other will fall off in 2009.
If you are dealing with negative items that have been paid or settled, it may be adequate waiting for them to fall off, or otherwise age. But if they have not been paid, a lender might require you to pay them before closing if they are on your reports. Whether they would require this if they were past SOL, I don't know. You might want to get some advice from a mortgage broker.
