I have damaged my credit score very badly due to some financial troubles that I had several years ago. I have 6 CC, 2 of which are charged off, another which I just settled, and another with a collection agency in negotiation. I obviously just got rejected for my first car loan even though it was a joint app with my wife (FICO - 770). Regarding these charge-offs (AMEX, Bank One), I have attempted to negotiate with the CAs and have asked time and time again for a deletion of the charge-off from my CR, but they have both said that it is impossible and unheard of and that their clients would not do anything like that; they would only list the acct as settled-paid, or settlement-paid as agreed. They will not even list it is PAID. I read many websites and this site for information and it all contradicts what the CAs are telling me. I am trying to settle for a fair amount and have agreed tot he amounts but I don't what else to do about getting some negative information deleted from my CR. Can someone explain what I can do and what is beyond my control so I know how to have closure on this? Also, do firms like LexingtonLaw really have the ability to remove this chargeoff from my CR if I settle with both? I am really trying to re-establish my credit and no longer want to pull my wife down with me. I am trying to settle my largest balances and hopefully remove the charge-off notations. I am thinking that after a few months, if I can become an authorized user on my wife's account(s), I can start this process. I will also look into some unsecured CC to help me on my way. Any advice would be truly appreciated. Thanks for taking the time to read this...again, I am thankful. Sam
1*I read many websites and this site for information and it all contradicts what the CAs are telling me. 2*Also, do firms like LexingtonLaw really have the ability to remove this chargeoff from my CR if I settle with both? Sam ================ 1* Well Well Well, Wonder why- Care to hazzard a guess? """""""""""""""""""""""""""""""""" 2*FixYourOwnCredit! http://consumers.creditnet.com/stra...848&highlight=fix+AND+your+AND+own+AND+credit """"""""""""""""""""""""""""""""""""""""""" '''''''''' `````````` ''''''''''
Sam: To put what was said in answer #1 into English There is a 2 word explaination why Congress needed to make providing false and misleading statements to consumers a violation of the Fair Debts Collection Practices Act. CAs LIE! It isn't in their best interest to inform you about your rights under the FDCPA, except for the two statements that they are REQUIRED to tell you about. If you are informed, chances are you will know when they are breaking the law, and that lets you have ammunition against them, and they don't want you to know when they are breaking the law, because then they don't get paid. You need to force all these CAs to put everything into writing, ONLY THE STUPID ONES are dumb enough to put the same misleading statements that they'll tell you over the phone, in writing, and when they do... Its like including a check with the letter.
