Re: Re: Re: Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR I want to clarify this statement. I did not go from mid 400's to 750+ plus immediately. When my credit was cleared, my FICO jumped to the low 600's because I was paying my car loan off on time. When I received my Cap 1 card and began paying that on time and carrying a zero balance, my credit began to rise to the level it is at currently. The key was I did not squander my 2nd chance by paying my bills late after my credit was cleared. =)
Re: Re: Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR SoParkDiva, Makes sense to me. I, on the other hand am a far cry away from my 7 year SOL on 1999 and supposedly 2000 medical bills. I also have re-aged CC accounts that I had no part in restarting the SOL clock. Mysterious accounts with no DOLAS. Duplicate accounts listed. Hard inquiries I never authorized. Hey, I am paying for my mistakes. They should pay for theirs. Apparently I am not the only person that makes mistakes. I imagine to come out ahead so quickly that you had been re-establishing good credit along the way. I have read this is very important. At this time, I cannot even get a unsecured card. Sometimes this high credit risk person feels like forgetting all of this, crawl back in my hole and come back in 2007 with a clean blank slate. But what if that day never comes? I am very aware that this credit repair is very frustrating, time consuming and the results vary. But, my fighting back makes me feel less of a loser, less of a victim that I have been. Thank you for sharing your story and a big congrats on your score! Must be nice. And I agree, you must be doing something right. Gretch
Re: Re: Re: Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR I really didn't do anything "right" until my credit was cleared by the CRA's. Listen, I was fortunate because I got all my credit when I came out of college. I was green, I knew nothing about credit. So when I maxed out my cards I just got new ones. When it came time to pay the piper I couldn't - so I didn't. I was young and I had a lot of time to wait and read. Don't think I wasn't watching the clock all those years. When the time came and I saw my clean reports, I couldn't belive it! It happened just like they said it would. 1999 is 4 years ago. You only have 2 years and 6 months to go. Remember you can start requesting that they remove the bad credit 6 months early and they will do it. So it's really 6 years and 6 months. I know most people don't want to wait that long but I did and I'm glad I did because now I feel like a new person. =)
Re: Re: Re: Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR Only my car which I got at a ridiculously high subprime rate before my credit was cleared because at the time my score was in the mid 400's - the negative items were still on my reports but I knew they would be falling off soon so I was determined to pay that high car note on time in anticipation of that moment =) I don't see why not. If I could get a car loan with a FICO score in the mid 400's why can't you get a credit card? Don't you believe that you have the right to have all that bad credit deleted after 7 years? How can that day never come? On your 1999 derog you only have 2 more years and 6 months. If you don't do anything else, it will still come off completely. And they can't put it back on. Don't despair. It's going to work out. Believe me.
Re: Re: Re: Inactive collection accounts on CR It's a matter of strategy. Some people look for violations and use them as leverage when they get them. If you just want these things gone, that's not the easiest way to go. My opinion: Medical debt gets transfered around a lot, and with small debts the records are not always kept handy. I'd try disputing them again with the CRA. He probably just hasn't applied for the right credit cards yet. Credit card companies each target their own market niches. It's likely that the applications he's put in were to companies that are looking for more established customers. Don't worry about it, the very act of applying for a credit card puts his name on lists of people looking for credit, which are sold to companies that are looking for customers like him. If all his bad credit is old and paid off, he qualifies for something, and it's only a matter of time before that company targets him for their marketing.
Re: Re: Re: Inactive collection accounts on CR ok, I saw some bad advice from Diva. first off, send your disputes via certified/registered mail, return receipt, etc. you want a paper trail for that in case it goes over 30 days. Yes, you want a paper trail for this. secondly, CRA's could care less about what any other CRA reports..and they don't 'regularly compare' what is on your report, unless this just started happening yesterday or something. Try 'calling' EXP and asking them to dispute a TL based on info on your TU report..you will get laughed off the phone. gheez.
Re: Re: Re: Inactive collection accounts on CR I have on 3 different times decided to post on this and just simply thought forget it. I can't take it anymore. SoParkDiva of course your credit is perfect now. Your 7 year dates came up and of course your credit is perfect now. I don't think anyone here has a problem with that and you did the best thing. In your personal situation you did the right thing. The Vets or experts, myself not being one have a problem with the way you are giving advise to those going though it now. I understand the gang up on posters who don't share your extremely narrow points of view comment. This is not a personal attack by any means but your old accounts hit the age anyways. What did you ever have to lose on your credit reports after time? Also Equifax verified that I had a $64 cable bill 6 years ago, and also a medical bill for $86 6 years ago. Those accounts were included in a Bankruptcy and the cable bill just came off after over a year of disputes. I am surprised you thought Equifax doesn't really verify these small accounts because they do. Yes I envy your scores and what worked for you in your personal situation. That is your personal situation and it helps others going through your simular situation but that is it. The other posters here are just trying to protect other people "the newbies" problems now by not listening to this advise, only because they care otherwise they would just let this go. CONGRATS on your scores because it did work for you. No personal attack from me but they are just trying to protect others going through it now.
Re: Re: Re: Re: Inactive collection accounts on CR Thanks for the nice words J. Vick. But you misunderstand my position. All I am saying is you have the right to have those things fall off your report after 7 years. Not 7 years from the time you begin disputing - but 7 years from the first delinquent payment. That's the law. By the time I realized it I was already a few years into the 7 year wait and I didn't have to wait that long. All due respect but I think you are also one of the "experts" here. You give excellent advice. I respect the vets & I understand their postion. They love this community and they don't want some outsider coming in trying to shake things up. That is not what I'm doing. I am simply saying, why pay these sharks - who have millions at their disposal - and put yourself in the poor house when the law is on your side? I know the law did not intend for us to hide from our debts but I'm sure whoever drafted the law also recognized that good hard-working people who find themselves overwhelmed with mountains of debt that they can't possibly get from under - deserve a second chance!! All I am saying is take that second chance! Stop paying these CA's because they don't care about your situation. Most of these "collectors" work on commission and they will put you in the street in order to collect. Once the OC decides to stop working with you & places you in collection then don't pay them. By law, if you do nothing it will fall off your report in 7 years. If you start paying them, they will hound you for more than 7 years until that debt is paid. I don't understand your statement. What I had to "lose" was years of debt erased like magic and now I have good credit & no creditors hounding me. Sure Equifax says they verify but do they really verify the first time? Do you really think Equifax has the manpower to verify millions of disputes a day? I don't think so. I think they play a shell game with the public. They verify hoping you go away. Also, why didn't you just allow the 6 more months for those items to mature and then write a letter and request they be deleted? That was your right. And that is exactly why I'm sharing my situation - so that others who share my circumstances - recently graduated from college, maxed out college credit cards, student loans in default, first car repo & does not own a home - can see how easy it was for me to get out of debt by simply allowing the law to work for me. I forgot to mention that the CA for the student loans did find me 2 years before that loan was due to fall off my reports. - I don't know how they found me but they called me wanting to place me on a payment schedule - Guess what happened? =)
Re: Re: Re: Re: Inactive collection accounts on CR I have already retracted my statement about CRA's monitoring each other's information on us. I am not telling people not to dispute, I am simply saying calling works just as well as writing. When I disputed the last few items on my report they came off within 2 weeks.
Re: Re: Re: Re: Inactive collection accounts on CR quote: -------------------------------------------------------------------------------- Originally posted by gretchen At this time, I cannot even get a unsecured card. -------------------------------------------------------------------------------- quote: -------------------------------------------------------------------------------- originally posted by SoParkDiva I don't see why not. If I could get a car loan with a FICO score in the mid 400's why can't you get a credit card? --------------------------------------------------------------------------------- This comment explains a lot. The reason a peson can't get a cc but may be able to get a car loan is because one is secured, one isn't. Also you stated "By law, if you do nothing it will fall off your report in 7 years. If you start paying them, they will hound you for more than 7 years until that debt is paid." You are confused. There is a difference between the 7 year reporting period and the SOL for collecting. Paying on a charged off acct does not increase the reporting time. It can be reported for 7 years, period.
Re: Re: Re: Re: Inactive collection accounts on CR quote: -------------------------------------------------------------------------------- Originally posted by gretchen At this time, I cannot even get a unsecured card. -------------------------------------------------------------------------------- quote: -------------------------------------------------------------------------------- originally posted by SoParkDiva I don't see why not. If I could get a car loan with a FICO score in the mid 400's why can't you get a credit card? --------------------------------------------------------------------------------- This comment explains a lot. The reason a peson can't get a cc but may be able to get a car loan is because one is secured, one isn't. Also you stated "By law, if you do nothing it will fall off your report in 7 years. If you start paying them, they will hound you for more than 7 years until that debt is paid." You are confused. There is a difference between the 7 year reporting period and the SOL for collecting. Paying on a charged off acct does not increase the reporting time. It can be reported for 7 years, period. And last, I recommend you send your disputes via certified mail r/r/r. You NEED a papertrail to prove any and all violations that may occur.
Re: Re: Re: Re: Inactive collection accounts on CR SoParkDiva, "I am not telling people not to dispute, I am simply saying calling works just as well as writing.That is when you have only 6 more months left on your 7 year SOL when they are expected to fall off anyway. When I disputed the last few items on my report they came off within 2 weeks." Personally, Credit Repair implies cleaning our CRs early, re-estabishing credit after having bad credit or no credit and correcting the CRAs and OCs for making our reports filled with inaccurate data. Waiting for the CR derogs to fall off is not Credit Repair. I did find "the 6 months prior" information you gave helpful and perhaps useful in the future. But I need to read that from 5 other people before I dare believe it. So far you are the first I have read that mentioned that. Thanks,
Re: Re: Re: Re: Re: Inactive collection accounts on CR Is a car loan secured? With what? I didn't say it would stay on your credit report for more than 7 years - jlynn already pointed that out to me. I said if you pay them the CA will hound you for more than 7 years OR until that debt is paid. *smooches*
Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR It is secured by the car. They have something to repo if the loan isn't paid. With a cc, they have nothing to repo. As for the cra's removing items prior to the 7 year mark, I have advised this on this board for 2 years now. My experience shows they will remove the derogatory info 3 to 4 months prior if you ask them to. I'm not sure about 6 months though, so I won't comment on that.
Re: Re: Re: Re: Re: Re: Re: Inactive collection accounts on CR Ok, I see what you mean. Thanks. If you don't mind I will cut & paste this in another post. =)
Re: Re: Re: Re: Re: Inactive collection accounts on CR 1*I know the law did not intend for us to hide from our debts but I'm sure whoever drafted the law also recognized that good hard-working people who find themselves overwhelmed with mountains of debt that they can't possibly get from under - deserve a second chance!! All I am saying is take that second chance! 2*why didn't you just allow the 6 more months for those items to mature and then write a letter and request they be deleted? 3*Is a car loan secured? 4*With what? SoParkDiva ================== 1*All the 7 year reporting period means is it is no longer reported. This does not in and of itself erase or forgive the debt. 2*Why leave something on there that should not have ever been on there in the first place.? 3*Sure is 4* Chose one A- Swiss cheese from Australia B- S & H Green stamps C- The CAR. #############################3 Wedding Bells ------------- A police officer in a small town stopped a motorist who was speeding down Main Street. "But officer." the man began, "I can explain". "Just be quiet," snapped the officer. "I'm going to let you cool your heels in jail until the chief gets back..." "But officer, I just wanted to say...." "And I said to keep quiet! You're going to jail!" A few hours later the officer looked in on his prisoner and said, "Lucky for you that the chief is at his daughter's wedding. He'll be in a good mood when he gets back." "Don't count on it," answered the fellow in the cell. "I'm the groom."
