Hi All, I have been a member of this board for a while...I am ashamed to say that for whatever reason, I never started to clean up my history. Now I am married again and I need to clean up for better job and buying a house later on. Now I want to start...however, I am leaving the country at the end of May and coming back end of June. Should I start now or wait to send out the letters just before I leave? I am afraid that if I miss something while I am gone, that may go against me?? Just a brief summary: I have four to five negative items including a judgement that I do not see yet, but I know it is there somewhere. Most of the negative items, it seems are going to be taken off by Dec 2007. At least that is what the Experian and Equifax report "status" indicates to me. The judgement was in 2005 so I think that will stay. What would you do? Wait or start sending out the letters? Or do I just wait for the item to be taken off by itself due to time?
You make at seem as IF one has control over getting the PFD. It's NOT automatic simply because you ask for it and there is NO guarantee the OC/CA will oblige your request. Misleading information to spread about Collectman....
I would leave them alone unless you are planning on buying a house before the end of the year and then you'll have to pay them off anyhow. You can always try disputing with the CRAs with 3 or 4 before you leave and you might have luck getting them off early.
No, my judgement is not paid. They are starting to call me now at home and at work. I am going to send them the letters to stop calling me. I am not planning to buy a house for another year and a half anyways. I just want to clean up now cause I am tired of paying high interests for my car and also the inability to get any credit. Yes, I was foolish in my younger days. My first wife didn't help my situation either(again, my stupidity). And now, I just do not make enough money to pay these off. The problem with just leaving them alone, that I see, is that these things keep coming back. it seems that as the date gets closer, a CA sells off the debt to someone else. Now it is back on my record...I want to stop that. Most of these debt are during 1995-1997 period(so I remember).
Nothing misleading in trying to work out a payment for something that a debtor charged up and failed to payoff. How horrible of me to suggest someone be honest about a debt that's owed.
Un unh, I'm specifically talking about you suggesting the PFD as IF it's an AUTOMATIC option when such is NOT the case. You know as well as I do that not all will oblige the request. I said NOTHING about not paying the original debt. No need to twist my words
Considering a PFD works by sending it to the CA and if they accept then the account gets paid. If they dont accept it stay on the CR until the end of the year. I didnt think it was that hard to understand.
Well you are almost out of the woods so I would concentrate on the judgment for now. Some CAs will try and sneak a TL on and pass it off as new. But if they are doing it past the 7 year reporting period, it's nothing that a strongly worded letter to them won't clear up. If the debts were from as long ago as you say, then there must have been periods of being caught up, then falling behind, before not paying at all. Either that or you have the upper hand and can write the CRAs to remove the obsolete information.
collectman, I understand your position. In an ideal environment, I would like to pay these off. However, I just can't. It is literally choosing between bare essentials or making any type of payments. I do know I am in the wrong and that I should have been more careful about racking up these charges. I wasn't. As mentioned, I was stupid and foolish in my younger days. If you think I haven't paid my "dues", I have. In ways, that most people don't even think of. I haven't been able to get a good job, since they check my credit. Thus, I have lost out in earnings that would have far exceeded my debt. I have a car that I am making payments on that is going to cost me double! I am on a 6 year plan to pay this off. Thank god, that is getting closer to being done. I could have purchased a home during the boom years with some friends(they wanted to help me), but I didn't. I didn't want them knowing my credit history. They have all made very good money while I was sitting back watching. Again, a loss that far exceeds my original debt. Of course, one would say that I should have just paid it off...easier said then done when you are trying to just barely survive. I am here now cause I need to fix this. I am tired of these CA still being on my report after so many years. And they keep on changing on me. Thank you for your advice..it is taken in the right spirit...I just wish I could do what you recommended.
wow..that was the first time I have told this to anyone. Re-reading it is an eye-opener for me. Word of advice to anyone else in similar position: Write up the issues and how you have lost more money then gained....it will open up your eyes and motivate you to do something. I wish I had written this for myself few years ago.
Uh, are you trying to justify not paying whoever it is you didn't pay, by saying that you have ''paid your dues'' by paying extra in interest to someone else that you took credit from? Im sure that touches whoever it is you didnt pay that you are paying extra for a car and not paying anything to them in how many years?
Collectman, Not sure where or what you are trying to achieve here. I already admit I am wrong and have been. I already have paid a major price for that mistake(maybe not to the original creditor, but I have). When we send people to jail for crimes they have committed, more likely than not, the victim hasn't been put right. Yet we send the criminal to jail for the purpose of "Stopping future" crimes and also in "hopes" that the person has learned from his/her mistakes. It is not a fair to the victim...but that is the way it goes. Well, in my case, I have learned. I just need to fix my position now.
Fixing your position would include paying the debts though, which you are not asking for advice on how to accomplish that. You are seeking to get them removed off your credit report without having to pay them so you can go get more credit, a house, and possibly a lower interest rate on your car.
Anyways. If you can't afford to pay it then look at it as a lesson learned and don't make the same mistakes twice.
Wildviper, I hate to jump the question on you, but you need to forget about the credit reports for now. You need to focus on a financial plan, mainly repaying the judgement. You will not be able to escape that. The other negatives on your credit report will have to wait. First, review your entire financial situation, start tracking EVERY penny, both income and spending. Then look to where you can start reducing any expense that you can. This will be painful, but it will be worth it. Figure out what you minimum living expenses are, and examine against how much your income is. Next, you may have to consider a part time job, or something to generate another income stream. One way or another, you need to figure out a way to earn more than you spend, and use that difference to pay down this judgement, and then any other debts you have haunting you. It is great that you have a plan to purchase a home in the future, but you need to map out how you will get there. You will need to have these items paid, or settled, before anyone will consider you for a mortgage. I recommend that you visit www.about.com for their financial section; there is a ton of great information, financial calculators and tools, reference material, etc. I understand your position, and the "Catch-22" you are in, but right now you need more financial management than credit repair. One thing at a time.
thanx for the replies. The judgement is the bigger deal here? This was served to my mom while I was out of state or something. Any recourse there? If I make an arrangement with the CA holding the judgement, anything specific I need to keep in mind? I can't ask them to validate now? Thanx
No, it's too late for a validation request, the only thing you can do at this point is try to work out an arrangement that you can live with in your current situation. Your best bet is to review your financial situation (in detail) with the CA, and negoatiate the best plan that you can. You may even be able to negoatiate removal from your credit report if you explain that it "hurts your chances" of getting a higher paying job due to credit report reviews.
Yes, the judgment is the bigger deal. In some states they can renew the judgment and especially if you are just starting out, it's best to follow the advice that bizwhiz gave you. It is possible to get the mark removed from your credit report; I had a wrongful judgment put on mine and had it removed by the CA. My case was different, but I do know that they might work with you.
