Newbie in need of guidance.

Discussion in 'Credit Talk' started by nixiejean, May 8, 2015.

  1. nixiejean

    nixiejean Member

    Sorry if this is a double post I believe I posted in the wrong section before.

    So we have a credit mess. We have all of our reports. my husband and I. We have a slew of negatives and outdated information creating a clusterf***.

    I was advised to start with the collections. I want to make a note that everything negative on our report HAS been paid in full. I started to dispute collections one at a time. Then I found this site.
    And read to go through everything with a fine tooth comb.

    I've only gotten as far as a few accounts and this is what I've come across so far.

    Home depot account. Closed for nearly 4 years. In March it reported again $0 balance HOWEVER in the notes it says "$3278 balance as on 3/2015" this info is beyond incorrect. In fact the account has been closed and no balance for years. Do I dispute this?

    My mortgage. A few years ago we ran into delinquency drama. Now. Each credit agency reports something different for each month... Example.

    June of 2010. Experian 30 days late. Transunion ok. Equifax 30 days
    July of 2010 experian ok. Transunion 60 days late. Equifax 30 days late

    I don't know which is right!!! I do know that yes I admit we had been late a handful of times but my mortgage is all over the place with that mess.

    Our scores aren't great but they don't suck terribly either. His 640 average. 665fico mine is 620 average.

    Do I dispute with the 3 beuras or my mortgage company.

    Any credit repair company would have a field day here. There are about 7-10 individual accounts of this to fix.
     
  2. jam237

    jam237 Well-Known Member

    You want to dispute anything that is incorrect, even if it's able to be perceived incorrectly.

    I'll give an example: I had student loans reporting incorrectly, full balance as 64 monthly payments of full balance; now people complain about the high cost of education, they should really complain when their student loans are being reported as being over $900,000.00 even though what was being reported as the full balance was 64 times less. A review of the file would leave a question as to whether the full balance was the full balance, or the full balance was $900,000.00.

    You want the dispute to be as close as you can to the specific error. So for the HD account, I would dispute it stating that "balance being reported as of 3/2015 is incorrect. balance as of 3/2015 was $0."

    For the mortgage, I would dispute; "not late in June 2010" (because that's exactly what they reported to TU), "not late in July 2010" (because that's what they reported to EX). Make sure not to include the disputed months in the letter to the one that is reporting that it's ok. :) So TU's letter wouldn't include June 2010, and EX's letter wouldn't include July 2010.

    The key is that you are nearing the end of the DRP (Document Retention Period) for those lates, most likely by the end of the summer they'll have deleted all records, even the copies that they keep archived on microfiche. (For more on this facet, take a look at Johnson v. MBNA which goes into a DF's need to do a conclusive verification, and touches on how the DRP can make that impossible - ergo, they'll need to delete.)

    Ideally, they'll verify the data so that it continues to be incongruous, and you'll be able to continue to play one CRA against the others, and accumulating more in violations for their incorrect reporting, and racking up the amount of time that it takes to perform the repeated verifications of the data; then it'll be just to delete the account and let it go...

    I would send the dispute to the CRAs, it's only actionable (able to be sued on) if it's disputed through the CRAs.

    BTW: I've had larger field days... :) There was one time that I had about 20+ tradelines to dispute at one time. That was a fun CHOD (CreditNet Holiday of Debt) season... :)
     
  3. nixiejean

    nixiejean Member

    This is awesome news. Thank you so much!
    I wasn't sure it was possible to get those removed. Thankfully we got our crap together the past few years and the older items are falling off.

    There was one 30 day late last winter and heard the possibility of having it removed by going directly to the mortgage company and offering automatic payment for deletion of lates. Is this a solid possibility.

    Either way I've my work cut out for me. I've been reading on here and other sites for a month now before getting all my disputes out.
     
  4. jam237

    jam237 Well-Known Member

    Anything is possible... :) I've pulled off a lot of improbable but possibles... :)
     
  5. Bbiendayer

    Bbiendayer Member

    Yes you are in need of guidance but before that you need to collect all your experiences good ones for motivation and the bad ones for the lesson, Every thing else is known to you have a new start all the best.
     
  6. nixiejean

    nixiejean Member

    Absolutely. The amount of letters I sent out yesterday for the start was that last wake up call. Definitely learned when we settled many cards out. Most of which we waited to just fall off. The collections I had no control over. (I just had a baby) never got notification of them.

    Hoping to buy a house next spring! 3kids, us, and pets in this small townhouse has reached its limits!
     

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