Well, this is my first post here, however I have been around for some time. I need to get a bit of help from some of the experts here regarding 2 disputes. 1- I have a collection account for $7xx.00 on my Experian file only. This dates back to 3/99. It was not paid. What should I do to delete it from the report? I have been reading about validation letters. Is that what I need to do? I have never been contected by the CA, as I moved at that time, so I'm thinking that if I sent a validation letter to them, they may start trying to get their money now after almost 3 years. Is there any chance of just disputing the account with Experian? 2- I settled an account with MBNA back in 3/99. Before that, the account was current without any late payments. So currently the account is listed in all my files as current, paid as agreed, but with a note saying "settled for less than the full amount" . Any chance of having this note deleted by disputing it with the 3 bureaus? Thanks a lot
A suggestion?..anyone? I am basically wondering if it is possible to try to remove an unpaid collection account from my Experian file.. Or would I get myself in trouble, may be by having it reported to the other 2 files. It dates to 4/99 but was reported and last updated on 6/2000. Thanks
Yes, it is possible. I have had it done. As a matter of fact, it was an unpaid reposession that was in collections (only reported by the original creditor). Now the only thing that they refuse to delete is another unpaid collection, but that is ok with me. Equifax is now pretty much clean and since I now live in NC (GA is primary residence) that is the only one I need. Good Luck!
I cannot speak from experience yet but I think anytime you dispute something correct you open yourself up to whatever might happen. You are liable for the debt. Others that have disputed or searching the archives can probably turn up more info. I'd be prepared to negotiate with the original creditor just in case if you can raise a settlement offer. If they just updated it in 2000 it seems like it would be verified with no problem but you never know until you try I guess. Tough choice...good luck.
You can get an unpaid collection removed.. It just takes persistence... Try Lizardkings validation letters... Send the CA a validation and then once you get the green reciept back send a dispute to the CRAs. Contrary to popular belief, statements have no effect on fico scores... i dont believe fico scores can interpet the english language enough to decipher whether or not the account has been settle for less than full... or else you would see these reasons for being denied "Too many accounts closed by granitor", Or "Adverse statements on your accounts", So I doubt that the statement is affecting you score... Just as personal statements dont affect scores.. Fico looks at open or closed, balance, high credit, payment history and length of account... It could hurt you on a manual review though... You can dispute the statement. many times statements can be changed if disputed enough.. Though MBNA is tough to deal with.. I have been trying to get some lates removed from MBNA for my friend for a few months but they nor the CRAs are budgin... kev the happy holidays to creditnet posters club
Thanks for the replies.. It seems that the general consent is that I may have more problems trying to dispute these couple of items than just leaving them for now.. Right now my Equifax (FICO) score is at 688, my TU score is at 690, and my Experian score (the one that has the CA) is at 676. I am trying to prepare myself to apply for a home loan in a couple of months. It seems that these two spots on my files won't hurt that much. I have yet to contact any lender to see if I will be able to get a pre-approval without much trouble.. But I'll see. Thanks again
I don't have much experience with mortgages and such, but I don't think you'll get a mortgage with any outstanding collections on your reports. You will have to pay them. Sorry.
I got a loan with an unpaid collection.. i just told the Broker it wasnt mine and I was disputing it... Kev
