First off I want to say hi and this is a great site. I am just now taking my credit seriously and want to turn this thing around. Just turned 24 and I wish I would have taking care of this earlier. Received my credit report from Equifax (477 beacon-ouch!) I have two charge offs on my report and don't know where to start to try and get these removed. One is from 1997 and the other is from 1999 both are CC's. 1 for $1200 the other $2400 I also have student loans on there that I defaulted on but have entered into a repayment with a CA where they take $85 a month out of my checking account. They stated after 12 good payments that the loan would be current and any fees associated with the CA would be taken off the loan amount and I could possible refinance it. I also have 2 items in collections. One of which I have no idea what it is for from B of A for $55. The other an old phone bill, which I plan on paying. Where do i start???? I have been searching the site and seen the letters and have learned a lot but don't know where to begin with this. PLEASE HELP.....
Welcome to the board! First off make sure you get your 2 other reports (Experian and Trans Union). Once yu have all 3 make a plan of action. First, which state are you in? Are all of these debts past the SOL?? If so *I* would proceed with the bigger debts. If the SOL is NOT up, then go for the smaller debts. As to the Student Loans, I don't think there is anything left to do other than to continue with rehabbing it. (not a SL pro though) Have you disputed with the CRA's? If not, start here. Some of these debts may just come off on their own with little to no work. Once you get the results back from the CRA's let us know what is left on your report and we can help you from there.
I am in Florida. 4years SOL if I am correct. the 1997 debt would be past and the 1999 debt would be coming out of SOL next year. How would I start dispute with these guys? please forgive me this is all new to me and the thought of taking these companys on head first is quite intimidating.
Leave the 1999 debt alone. They may or may not sue, but you certainly dont want to wake them up, provided they are sleeping. I would start with the CRA's, dispute your negs. (except the 99 debt), dispute as not mine, if you feel comfortable doing that. Then in 30 days see what the results are from that and start going after the CA's and creditors.
CRA--credit reporting agency? dispute the item with them first? are the template letters sufficient to use? If they do not respond within 30 days what do I do then. What are the possible outcomes after writing them a letter. Am I disputing the whole item or disputing the correctness of the item?
