Hello, I am now in my mid-20s and, having recently been denied a car loan, know that it is time to repair my credit. Here is a synopsis of my credit history: Early 2007: No medical insurance, went to emergency room, racked up $1000 bill, never paid it, sent to collection. 2007/2008: $3500 student loan. Stopped going to school, stopped paying interest, still owe quite a bit. Paid back all of the interest and got a forbearance because I'm back in school. This item is NOT in collection. 2008/2009: Two utility bills for a total of $1100, cell phone bill of $81 All of these show up on my credit report and they are all unpaid as of yet. I (seemingly mistakenly based on what I've read on Creditnet) contacted all of the collection agencies inquiring about paying and having the items deleted. Unfortunately, every single credit agency contacted said the only thing they could do is have the account marked as "Paid in Full." Today was my first actual contact with any credit agency. Where do I go from here? Thank you so much for your assistance.
"Paid in Full" is pretty good. If they'll agree to that in writing, then take it. That's much better than having a "Paid" collection or a Settled notation on your credit reports. Have you sent DV letters to the CAs yet? Also, has all your communication been over the phone, or are you communicating in writing?
I spoke over the phone (I know, I know) prior to doing research on the matter. I was vague about everything though and didn't formally admit to anything. I have not done anything DV-wise; however, I did send a PFD out to one of the four CAs today.
I recommend keeping your communication in writing. You want to keep good documentation, and you'll need anything they agree to in writing anyway. I would definitely validate the debts as well. You want to make sure you're paying the right party for any of these debts that you truly owe.
