Hi Everyone. First of all, thanks for all of the advice i've already read on this forum. I've learned a lot from it already, and it's given me confidence that i can make some progress. I think my situation is pretty standard - 4 charge offs, 2 collections, and student loans that were charged off but are now being paid. I called TransUnion and got contact numbers for all of the derogatories, but after calling a few of them I dont feel like I have made any progress. Here's the rundown: 1) Intrust Card - credit card account charged off on 6/95. balance $401. I called and talked to the collections department and could not get them to agree to anything better than rating my account as "Paid Collection". As per the advice on this forum, I declined this option and got the mailing address. Should I now send a letter and start over just using letters ? The rep that I talked to never asked for my current number or address so the ball must still be in my court - I just don't know the next step. The rep said that under no circumstances will they remove derogatory info. Do they all say that, or are there companies that really refuse to do this ? 2) Capitol One - Charged off 1/96. Balance 1506. Called and pretty much got the same story as above except that this time I did give my current address and phone #. Should I send letters, call them again, or wait and see if they contact me ? 3) Collection account $72 for bad check. I called and offered the 72 dollars in exchange for removal of the item from my reports. Again, no dice. I really dont think I was ever notified of this before it went to collection, but I also doubt that this item is a mistake on my report. Can i dispute the derogatory item to the credit bureaus on the grounds that I was never notified of this ? It looks like this derogatory is being reported every month, so if i get the credit bureaus to remove it, will it just re-appear the next month ? Or should I write to the collection agency telling them that I was not notified of it, offer (again) to pay for the removal of it ? So these are the three that I've called and it's becoming obvious that I need to change my tactics... I do have the money to pay everything, and personally feel like I should pay them in full but I want my credit restored as a result. I've seen people on this board that have had things like this removed and am curious what you were doing to get the better results... Any advice would be greatly appreciated ! Thanks, mb
Most of the companies refuse to do this. A few will agree to do so but then renig once you have paid unless you have a written and signed contract prior to paying. As you may be well aware, I just make them take it off like it or not. I don't give them any choices. Begging them just don't turn my creank. I would wait and see if they contact you. Be patient. If they haven't contacted you by Xmas 2010, let me know. I'd guess that if you wait and don't do something positive it might even be 2020 before you ever hear anything from them if then. If you think that is a bit too long to wait, then maybe you should do something to prod them along a bit. That would not be a grounds for dispute with the credit bureaus. I seldom dispute anything with the credit bureaus. It's too much like mudwrestling with pigs to suit me. If you stop to think about it, a check is nothing more than an instrument of debt until it has been exchanged for another instrument of debt such as Federal Reserve Notes which are obviously instruments of debt too. But that's their problem if indeed a problem really exists. It does, but they don't ever seem to care about that either. Since a check is an instrument of debt then it's no different than any other instrument of debt such as a credit card or a loan or a note until it's "paid for" because someone issued you credit based on their faith that you would pay off your instrument of debt. Only difference is the terms of the payoff and the length of time required to accomplish the "pay off". Since you did not pay off your debt they turned it over to a collection agency. That collection agency falls under FDCPA and many other laws. If you demand proof that you ever owed the debt in the first place, raise questions about the product you bought or have other concerns, the collection agency must address those concerns whether they like it or not. So they usually resort to bluff, bluster and other tricks to get you to pay up. If you call their bluff in the proper way, you can usually send them packing. Probably. It probably happens just about as often as not. That's totally irrelevant. Why waste your time and money? Just make them prove that you owe it or use some other strategy and make them forget about it and take it off your reports as well. Sorry for all the yik-yak about instruments of debt which probably sailed right over your head, but if you want to understand how to deal with these clowns who never seem to understand that you are a human being with rights guaranteed you under the law then you have to understand what it is that you are actually dealing with and then you may be able to understand how to deal with your problem. Calling it a check does not change the fact that it is an instrument of debt. If you owe a debt and the creditor turns it over to any 3rd party and asks them to collect for them, then that 3rd party debt collector has to obey the law and he has to respect your rights and if he don't want to do that then it's up to you to force him to obey the law. It's just that simple. Hope I have helped you understand a bit better.
Don't give up... it takes most people a year to 1 1/2 to get it done... Change tactics... If you've been calling, try online disputes, if you done those write... whatever you haven't done, try.... and try again. You're not limited to one investigation on an account. Student Loans? Rehabbed loans must be removed... they don't have a choice... do a search here for HIGHER EDUCATION ACT or go to the www.edu.gov website. Wait for holidays... try again with written investigations, maybe with the vacations and still constrained to 30 days you will have some luck.
