In need of advice... I came thisclose today to signing up with Lexington Law Firm, then decided maybe I could handle these issues on my own. I currently have 12 negative items: AFNI (CA/ Don't know which account this is from) CREDIT SYSTEMS INT INC (CA/ Don't know which account this is from) ASSET ACCEPTANCE LLC (CA/ Don't know which account this is from) RJM ACQUISITIONS LLC/RJM (CA/ Don't know which account this is from) LTD FINANCIAL SERVICES (CA/ Don't know which account this is from) BANK OF AMERICA (CHARGE OFF) PLAINS COMMERCE BANK (CHARGE OFF) NY & CO (CHARGE OFF) LIMITED EXPRESS (CHARGE OFF) DISCOVER (CHARGE OFF) SCHOOL FEE (COLLECTION) SCHOOL FEE (60 DAYS LATE) I called my former university today ; they have my account as paid in full, so the woman in accounts payable advised me to dispute the items with the three credit bureaus and they would not contest it. That takes care of 2 out of the 12. With the others - most of those accounts went bad in 2002/2003. What can I do with those? Any chance that I can have these removed? I still get letters sometimes and phone calls but I haven't answered any of them. I should also add that I used to live in TX (SOL = 4) - I now live in NJ (SOL = 6) and I've resided here for the last two years. I had a Citi card that Unifund bought the debt for - I settled with them for 2K from 3K. Interestingly enough, both the Unifund and the Citi tradelines disappeared. My PLUS score with Experian is currently 542. I really want to repair this as much as I can. I know that Lexington Law Firm bombards the credit bureaus with DV letters? Any chance these tactics will work for me? Any advice on how to approach, where to get templates?
LL doesn't bombard anyone. The dispute one or two items per round so they can bilk you. They don't contact the furnishers at all unless you pay more. You can do this yourself just like you can change out a toilet or an engine. It's not a matter of can you, it is a matter of whether you have the time and effort to learn the proper way.
I'd avoid them as they made several mistakes with my account. I actually received two of the letters that they sent out to bad addresses. They also won't write "pay for deletion" letters or do much else.
Uhoh In my quest for credit repair, I contacted Discover to see if they had any information on the old account. Turns out that they do, as a charge off. It was with collections, but now it's back with them. I told them that I planned on disputing, and they said, fine, but if you dispute and we find it's yours, then you'll have to pay the balance in full ($3063 on a $2000) limit. I asked if they could make a payment arrangement with me - she said they would place it back with collections or an attorney to work on their behalf; they didn't have to make an arrangement with me because the account was no longer in good standing. The last payment made was in November of 2003. The SOL they are using is in DE, and she says that the SOL on that account is not up yet, but I just looked up DE's SOL and it says 3 years??????? Either way, the SOL is up on the account, is she lying to me? I also asked if they'd delete the entry from my credit report to which she replied no, they'd report it as charged-off paid. Advice on how to proceed...please help.
Settle with Discover? Called again- Discover offered to settle - $325/month for the next four months. I told them to send me the paperwork and I'd call back and set it up. Thoughts? The SOL is up for sure, first representative lied. Thoughts? To do or not?? It will show as settled for less than owed, $0 balance, and she said it would drop off on 06/2010 (7 years after the first date of delinquency).
If LL bombarded CRAs with DV letters it would be worse than useless. DVs go to CAs and JDBs only (not OCs even). With JDBs, fight on the basis of their lack of documentation admissible in court (really need live testimony from the OC [though courts often improperly accept an affidavit from someone at the JDB, even over a proper objection by the debtor]--if anyone knows of a JDB ever coming up with that, let me know). With OCs, you'll need to fight on the basis of SOL assuming the OC still owns the debt ... but that buys you a 1099-c form next January, whether used against an OC or a JDB (DBA v. Snow court case). Be sure to keep your reports ... your main enemy here is reaging, because you're pretty close to the drop off dates for older defaults.
If you can wait it might be ok.when i talk to anyone i now carry a little memmo book i write their name down so when they lie i talk to a supervisior.lying? you know right off if their lying they answered the phone
That settlement needs to also assure that no form 1099-C will be issued and that no balance will be sold to any JDB. Debtors have been burned by undotted "i"s and uncrossed "t"s.
If it was me, on an out-of-statute debt, I wouldn't pay a dime unless they agree in writing to delete the tradeline. It's an old debt... the older it gets, the less it counts towards your credit score. Your score isn't going to go up if it changes from charge-off to settled. And since the SOL has expired, they have no hope of forcing you to pay it. So you hold the cards -- they want their money, or at least some of it, and you want the tradeline removed. They can agree to remove and get paid, or they can go away empty handed.
Did I "start" anything up again by calling them today? I told her I would look at the settlement offers prior to agreeing anything, but I'm sure they recorded me. Also - she said that they would report "0" as the balance - my balance in revolving accounts is a little over 5K (including this Discover thing). Wouldn't my score go down if they reported the balance owed as "0"? I also tried to negotiate the tradeline issue - she said they have an agreement with the credit bureaus where they have to report it until the 7 years is up.... ????
you want it removed they want money there has to be a common ground.you need to go up the ladder when i worked at large retail store the clerk's could give you a 10%discout if you ask.however a department manager could give up to 50%.you need to find the right person who can do it somebody has the authority
You've alerted them that you are interested in improving your credit score and may have some money to negotiate with. So they will undoubtedly step up their efforts to collect. In most states it is perfectly legal for them to try to collect. They can even file a lawsuit. Some CAs will do that, hoping the debtor will not show up in court and they will get a default judgment. Don't let that happen. If they file a lawsuit, you have to respond with the defense that the debt is out of SOL. So ultimately, you have the power here. You have money. They want it. They can't force you to give it to them, so if they want it badly enough, they will have to meet your terms.
I forgot to add: DON'T SIGN ANYTHING! You should write to them, because you want to get any agreements in writing. Verbal agreements are worthless. But when you write to them, don't sign the letters -- just type your name. Some collection agencies have been known to scan a signature and paste it into a phony contract.
I don't know that they would sue - when I spoke to the second woman today, she was cognizant of the fact that they can not be litigious with me, but she said the debt doesn't go 'away' even if they don't report it anymore (in 2010)... Just some clarification - I'm still dealing with the OC, Discover, not a CA...
You can't trust any of them if they can't dazzle you with brillance they'l baffle you with bs.they can make it go away.all they have to do is send them a notice to delete.never trust them
If I hired a lawyer, would they be able to do this for me? Interestingly enough, I didn't receive anything from Discover yet..
If you want to hire a lawyer you can for your own protection.The lady you talked to might have to run it by their legal department for their next move.Or they don't think they can get much money,when you do talk to them watch what you say,also ask them if they mind if you record them.See how they react
