You seem knowleageable... can you help me out here? (also open to other people who know ) I have 5 CCs with a LOT of lates (even 90+), 5 collections (SAME CC with 5 diff accounts, 2 show paid 3 unpaid, medical bills), and a score of 595. All the CCs state pays as agreed. I have a 5k CC with no lates and a $0 balance right now (I plan to put 2 CCs, the collections, and a medical bill that's not on the report on it (along with a DVD burner ) within the next week and then pay it off by December, when I plan to put 2 more CCs on it and pay it off within a year (the two CCs will be 5k but I would be able to make pymts of $200 a month plus any overtime I manage). I'm still a little squeamish about asking the CA to delete the notations from the credit report (I was thinking of asking... well I'm paying in full... when I do can you remove them since I will no longer be in collections? Those bills were acquired during college... if you note as soon as I got my first job I started paying on time monthly... could you put that in writing please?). I'm thinking of trying that first... if they send the letter to the CRA can the CRA do anything to me? Can they sue for blackmail? IS it blackmail since I intend to pay either way? Should I send a validation letter if they say no, or before I even ask? The bill is about 2.5 years old. What would you do with the CCs? I was unable to get one to remove a late that occurured this year because of CCCS (out of it - finally). Their response - absolutely not. What can be done about the CCs? Once I pay back the 18k (started as 20k), would the score improve significantly enough that the 90+ lates 2+ years before would not have that great of an impact? Would I qualify for the "good" credit card offers? The CCs and the collections are the only things on my report (I shudder to think what my score was before). (P.S. There were no ADDITIONAL items on my report before, this is as bad as it gets, it's just that as opposed to Pays as Agreed it said 30/60/90+ days late and all collections were unpaid ) Thanks!
Didn't we just go thru this the other day about whether or not it was illegal to ask for deletion? Read this: IT IS NOT ILLEGAL TO ASK A CA TO REMOVE THE LISTING FROM YOUR CREDIT REPORT. LOL Seriously, you have every right to ask them to delete it if you are paying in full. And if they refuse, I would not pay it. I would then send them a validation and make them prove it. Probably 50 % or more of the members of this board have asked for a ca to delete an item in return for payment. None of them have ever reported that the cra sued them for this. I really don't know why you are so paranoid about this. Yes, I realize it is new, but it is NOT illegal. If decide not to ask for deletion, be aware that a paid collection versus an unpaid collection has absolutely zero benefit to you as far as a credit score goes. As far as reducing the debt, it will definitely help your scores, but, if those 90 day lates are still there, chances are you will still have a difficult time getting the better offers, if at all. That is why I suggest you don't pay if they won't delete. You are in control with the ca's. You have the money, they want it. Get the terms you want or don't pay.
Well I've gone from illegal to squeamish, so that's progress I'll try it, and if not I'll send a modified validation letter (that one is way too harsh for me ) The 90+ days late are from CCs. Are they as easy to deal with as Collections? I already had one tell me absolutely not. My way of going into it would be, well I was a student and if you see as soon as I started working, I started paying. Can we reset the lates and start over? If I'm ever late again you can bring back all the lates. Something like that
Have you disputed the cc's with the cra's yet? If not, before messing around with the cc's, I would dispute it with the cra's first. Dispute it as not mine. You may be surprised to find that the cc's won't respond and it will be deleted.
Well I've been paying them for a year now I don't want to lie. Now I remember I read that the 7 years start from the first derog not the last... that means I have about 4 more years to go instead of 7. I can live with that.
GatorDeb.... I really don't mean any offense by this but are being WAY too naive about this. The creditors don't care that you were a stupid college kid and yada yada yada. They aren't interested in bringing back old lates if you screw up again. If you aren't harsh (or at least assertive), you won't get anywhere.
And never again brought current? What about accounts that ARE current? Does it start from the first derog? If so I can write all creditors asking for a summary of all late dates.
I can respect your squimishness, ect. however, you must get tough if you are going to play in this arena. CA's will take the food out of your kids mouth if you let them. I would spend some time reading the board for a bit and see what others have gone through. You must play rough with them or they will eat you alive.
I should have made my point a little more clear. The reason I said to do it this way, is to do a first round. Several may be deleted right off the bat. The ones that aren't, you can send the validation letter to, and then dispute with the cra's a week or so after you send the validation(or wait til you get the green card back). Or, you could start out validating as LK suggested, right away.
