Just getting up to speed here. I've pulled my reports and spent a lot of time deciphering the results. FICOs suck, of course, 560-580. I've got two really bad items to deal with first: Problem One. 1 student loan listed as open and defaulted, and 1 loan listed as unknown balance and 120+. This is incorrect. The first loan was in default at one time due to the bank selling it and not including it in what I thought was a full payout. But, as soon as I became aware it was still outstanding in 2001, I paid it in full. I have my paid-in-full letter. The second is paid in full. The DOLA for these are 8/1997 and 9/1997. Problem Two: A $300 bank credit card from 1997, charged off in 1997. Apparently it was picked up in 2002 by Sherman Associates. As of now, this appears TWICE in Equifax as DQs (Original issuer and Sherman), and THREE times in TU and EXP as DQs (Original issuer and Sherman, and ALSO in Collections with a SEPARATE Collection Agency. The DOLA on these vary from 97 to 99 depending on the listing. For problem one, I am torn. They drop off in less than a year. Even though I have my paid-in-full, I worry that I may fail to get the DEFAULT status removed, and the DOLA will be updated. Should I proceed with a dispute to the CRAs with my paid-in full letter? For problem two, who to attack first? The charge is legit. If I approach the original credit issuer and attempt a settlement in exchange for a good writeoff, will I then be able to fight Sherman and the Collection account listings? Any help appreciated. I don't want to screw this up.
1*For problem two The charge is legit. 2*If I approach the original credit issuer and attempt a settlement in exchange for a good writeoff 3*'will I then be able to fight Sherman and the Collection account listings? nova """"```--~~~~~~~~~--```'""'' 1*That's not the point. 2*How are you going to do that if the OC sold the debt??????? 3* ************************** Get informed CLICK THESE New Member Must Reads.--------------------------- http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=350770#post350770 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=314910#post314910 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=352826#post352826
Well, that's why I'm asking here, instead of running off and making a mistake. Sherman apparently owns the debt now. From what I've read here, it sounds like I should do two things: 1. Get Sherman to validate. If they do, negotiate a settlement. What's the best I can hope for in that case? If they don't validate, dispute with the CRAs. 2. Dispute the duplicates with all three CRAs to have the OC tradelines and the pre-Sherman CA tradelines removed. Is that a fair game plan? For the student loans, I'm torn. The DOLAs are within a year. Even though it sticks in my craw because I am paid in full, the best option may be to just let them fall off naturally. I would HATE to wipe out the 8 positive tradelines I have with the same lender on my SSN account number.
