Hey Kristi I know you have been giving some great sdvice so I thought if I wroteyou directly you could maybe give me some good pointers. A few months back my husband and I receieved our credit reports and since then we have disputed some of the actions on there...we have yet to here back, so while we are waiting (it has not been 30 days yet) I am wondering if we have done the right thing. There are about 7 charge offs for me and 2 on his, in whick one we just got a settlement bill from them for 50% of the balance. I am up in the air about what to do. The charge offs range from Dec. 96 to Nov. 98 We are financially able to pay but what about the SOL. Then the 7 years until they just drop off? I feel so quilty and want to pay them off, and know that I have everything paid on my report but what would help me more in the long run because paying starts my 7 years over right? We want to start rebuilding our credit and we took the offer first premier sent us when I thikn it was a mistake with all of that bad messages on the board about them, but I figured we would have to pay to get on track somehow. We have 2 cards with 250 limits but only in my husbands name (should we have them turned into joint accoutns?) Meanwhile we both have 1 current and great line of credit, but that is all, we also have some paid accounts. Where is the best way to start? I would really appreciate all of your help..thanks you can email me if you'd like
RE: Kristi...I need your advic Hi there, First and foremost, I recommend what you are already doing. It is very important to dispute the entries to the CRA before you attempt to settle them to be sure they are 100 acurate. Once you have verfied that the debts are legit and being reported correctly, then you can begin to negotiate with the creditors. If you payoff a charge off it will NOT restart the clock. The debts are reported from first serious delinquency or charge off date not payoff date. So that will not change. What you do want to be sure of though is that you check which ones have expired under the SOL. on those, you can be agressive in requesting a better rating or deletion in exchange for payment because legally they would be uncollectable anyway. On the ones where the SOL has not expired, it would be wise to weigh how much longer they will be on your reports versus paying them to get a settled rating rather then a collection or charge off rating. If they are ready to fall off then consider waiting. The important thing is that you have begun to rebuild along the way. Not doing so leaves you vulnerable to high fee offers and puts you in a position of not having a long enough rebuild history. The best thing anyone can do if they suffer from blemishes is open a few accounts with secured institutions to get the rebuilding under their belt while they are repairing the rest. Let me know if I left anything out. Kristi CarreonandAssociates.com teresa wrote: ------------------------------- Hey Kristi I know you have been giving some great sdvice so I thought if I wroteyou directly you could maybe give me some good pointers. A few months back my husband and I receieved our credit reports and since then we have disputed some of the actions on there...we have yet to here back, so while we are waiting (it has not been 30 days yet) I am wondering if we have done the right thing. There are about 7 charge offs for me and 2 on his, in whick one we just got a settlement bill from them for 50% of the balance. I am up in the air about what to do. The charge offs range from Dec. 96 to Nov. 98 We are financially able to pay but what about the SOL. Then the 7 years until they just drop off? I feel so quilty and want to pay them off, and know that I have everything paid on my report but what would help me more in the long run because paying starts my 7 years over right? We want to start rebuilding our credit and we took the offer first premier sent us when I thikn it was a mist....
RE: Kristi...I need your advic Thank you for your such a quick response...how do I find out about the SOL on the accounts? So the best thing is to wait to hear from the CRA to make all sure the accounts are correct, then try and settle with them deleting the account or making it a better standard on the report. As long at the SOL have run out if not then what? I appreciate all of your advice..thanks again I did send all of my letters to individual accounts asking if they still hold the account and to the CRA's certified return receipt also.
RE: Kristi...I need your advic Teresa Just go to our corporate site and click on resources. Once at that page you will see about 35 different topics including the SOL. Good Luck! teresa wrote: ------------------------------- Thank you for your such a quick response...how do I find out about the SOL on the accounts? So the best thing is to wait to hear from the CRA to make all sure the accounts are correct, then try and settle with them deleting the account or making it a better standard on the report. As long at the SOL have run out if not then what? I appreciate all of your advice..thanks again I did send all of my letters to individual accounts asking if they still hold the account and to the CRA's certified return receipt also.
RE: Kristi...I need your advic I am sorry, I did forget to ask if my husband and I should joint account the First Premier's to add a positive rating to my report since they are only in his name? Thanks again
RE: Sorry one more thing... It's www.CarreonandAssociates.com As for your husbands card, if it is just in his name they may not allow it to be reported to your credit unless you are an authorized user and their policy is to report authorized users. Thanks! Kristi CarreonandAssociates.com teresa wrote: ------------------------------- What is the web address I need to go to? Thanks
