I am working on my husbands credit report so that we will be able to refinance for a lower rate on our house. Being in the collection game, I did pay an account of his that went to collections (before marriage and before CN), lo and behold it showed up as a paid collections which in fact tanked his score from a 615 eq to a 595. I was perplexed by this and actually disgusted that when trying to make good on on an account, we would get penalized. Well, I read over PsychDoc nutcase scenario. I fired off a letter to this CA and it went ignored. I then subsequently sent the next series of letter as prescribed. I went one step further, I made a mail merge with the same language, disputed with the CRA, and mailed these out in a 35 day time period. Magically the tradeline is removed and my husband was left with a message to "leave them alone" So, reverse calls and letter campaigns do become an annoyance to CA, especially when there is no vested stake in a paid item. Experts, is this an alternate recourse for the PFD?
The results speak for themselves. It does not work as well as it used to, but in your case it did. Moral: you never know until you try.
I don't have much experience dealing with CA's but I do know that OC's are a whole nother ball game and much more difficult to work with. I recently paid off a Verizon Wireless bill that defaulted in 2002, I had thought it was a IIB debt but it turned out not to be. I asked for a PFD & was refused. They have refused to update it to anything except a Paid Chargeoff. To do otherwise, they stated is not reporting accurate and factual information. I could have ignored it (out of sol) but figured paid was better than not paid. The further you go in credit repair eventually you will come down to one or two baddies that just won't budge no matter what you do. I am wondering, at this point if the dip in score you are seeing is actually due to the loss of history of the account. The acct, although it was a negative still played a role in the FICO score based on it's age. Now that it is removed totally you have lost the age history. Should see it come back up though in time. Credit repair involves alot of waiting, sometimes it takes awhile to see the fruits of labor. Have y'all been working on the other half of repair? Having some credit and showing you are managing it responsibly? This helps with scores also. I am no expert, just an ordinary consumer but I hope the information I have given, based on my experience helps a little. Tegleg
Well he has a TMCC that is over 7 years with a good history and a BofA that is at $10k that he has had for about 10 years. The mortgage was on there and is not late, but we want to re-fi to a fixed for 30 yrs and we are getting hosed by this item. The dip in his score is not what pissed me off, it was by the fact that I paid for it, and they are still penalizing us for it. I take the approach that if the item is paid, then the CA should not even verify it in dispute, to do so otherwise is interpreted by me as throwing down the gauntlet. Since I have alot of extra time on my hands, I like to formulate mail merges for certain mailings, I made the nutcase letter sequence part of my letters. Also, I took out alot of the legalease and got down to the nuts and bolts of the situation, stop verifying something that was paid under duress..
