Hello people, This is my first post! I found this board just now. I have ben trying to repair my credit for a year now. First of all I hired Lexington law firm. They were able to delete a few items. Since January I have been with Junum, but I have not seen any results. I have signed up for their flat rate plan and was just reading all the posts about them. I am not sure what I should do at this point: 1. I have scores in the upper 500s. 2. I have 4-5 negatives left on each report, all charged off in 1996 when I was in college and my financial supporter passed away. Examples include: 1. Sears account, paid in full which they report as "account legally paid for less than the full amount". 2. Merrick Bank account which was never paid but they report as "Paid charged off". 3. A collection account which just appeared, from a 1996 Circuit City credit card. I also received a letter from this collection agency stating that they just purchased this account. 4. 2 department store collections which appear as Charged off account again from 1996. All these come back as verified the past 2-3 times Lexignton and now Junum try to dispute them. Any ideas? Thank you for the wonderful board! Mark
Welcome, to the board, Mark. I don't know squat about credit repair, but since you only have one year left to go before they fall off I would probably let them sit. I'm afraid if you dispute them that one could come back reaged...but you would have a potential lawsuit brewing (violation). Any ideas anyone? Dani
Hi, Mark By the time you're done disputing and validating, and assuming you get favorable results (i.e. no re-aging), these negatives will have fallen off. If you're in the upper 500s now you can probably reach at least the mid 600s by this time next year. Good luck!
Welcome aboard, markman! I myself was about to try Lexington to get my credit reports straightened out... until I happened upon this board. Everything they do for you can be done yourself. That's not to say that they aren't worth the money. I'm no expert, but here's my take on your situation: 1. Dispute this as "inacurate". If you paid it and they are reporting it as settled, it's inacurate, right? 2. <see #1> 3. You may be able to negotiate with these guys for removal of the derogatory tradeline in exchange for $$$. 4. Dispute them as not yours, and if they come back verified, submit a "procedural request" letter and see if that helps. Just my 2 Abe Lincolns. Smitty There's basically 3 types of people in this world... those who can't count, and those who CAN!
Check the statute of limitations for your state - the people collecting for Circuit City may not have legal grounds to collect the debt.
Thank you for your quick replies! What do you think about Junum? Should I cancel with them? After reading all the horror stories I am kind of worried. All the negatives will be gone by the end of 2003, but I was hoping to purchase a new house in the spring of 2003. I have 15 positive credit lines, no lates since 1996, and my total current credit card debt is less than $1000 (Discover credit card which I have since 1993 - joint account $6000 limit, and a Providian (GetSmart) card since 2000 with $1200 limit). I have no other debt. My total income yearly income is at least $108,000 ($48,000 from full time job, and another $60,000-$80,000 from a small business I own). Thank you! Mark
It is 6 years so they have until 10/2002. By the way, the Circuit City debt is about $1000. Do you think there is a chance they will sue in the next 6 months before the statue of limitations expires? Thank you! Mark
I can't say whether they will sue or not, but they wil have that option. Why not head them off and request validation? Make them prove that you owe the debt to THEM. Go through the process and send the letters CRRR. That way if it does come to court, you will have a defense (because they probably can't validate). Otherwise, dispute the others to see if they fall off sooner.
Couldn't this backfire? What happens if all of a sudden Circuit City wakes up and tries collection efforts? If the account is to fall off next year wouldn't it just be better just to let it sit until it falls off in 19 months? Dani
By the way, Circuit City does not own the account anymore. They have sold it to this collection agency. In other words, the collection agency does not collect for Circuit City, but for itself. I am guessing the collection agency bought it for pennies on the dollar. Mark
The letter was saying that we have purchased this debt and any further communication should be directed to us. I received this letter beginning of January. They were not even asking for payment which I found kind of weird. Also it just appeared in my Equifax report. Mark
Mark, bc is right. Validate it. I was thinking that Circuit City had not contacted you about the debt, I just didn't want to wake any sleeping dogs...but if they're already awake - go ahead. Hopefully, the collection agency won't have their act together and if will have to be deleted. Dani
Mark, Dispute all negative entries as 'inaccurrate'. Cancel Junum. Send validation letters to all companies listed (negative ones) on your CR.
When did you receive your first CA notice? I would send out a validation letter ASAP, ESPECIALLY if they have sent only the first collection notice. you know the one saying "you have 30 days to dispute blah blah blah". Either way send it out, it will stall them. Make sure you send it CRRR.
It has been more than 60 days since I received it. I don't have it in front of me but it was either end of last year or beginning of this one. Do you think I should still send it anyway? I sent a dispute to Equifax 5 days ago about it. I really don't think they will pursue this debt in the last 7-8 months left that they can legally do so, but I am not sure why they even bought it! I think I will cancel Junum tomorrow too. Thank you for all your help! Mark
But don't you think this may create problems? As of now I have received no collection letters for over 1-2 years (except the recent from the company that bought my Circuit City charge off) and I am worried that if I start sending validation letters directly to the creditors, I may wake them up. Thanks! Mark
Smitty There's basically 3 types of people in this world... those who can't count, and those who CAN! [/B][/QUOTE]Which one of the 4 R U? LOL
Mark- Send the validation IMMEDIATELY!!! Just because it is not sent within the first 30 days, doesn't mean you admitted it was indeed your debt, or that you forfeit your righs. The timing is so close, within the last few months, I would send ASAP!! It's harder to dispute debts that have been owned by the CA for 4 years or so. Seeing as the debt is so old, I seriously doubt they have the proper validation. Send them a validation letter as well as a copy of the "Wollman letter" (so a search here for it. This letter states that a computer printout simply isn't enough proof. Force them to send you a copy of the originally signed credit agreement. You are 7 months away from the SOL, unless this debt is for thousands of dollars, and the CA has ALL paperwork necessary, I seriously doubt they will pursue this. Show them you know your rights.
