Folks, I just got my Equifax report on Saturday, and am getting ready to prepare for my next round of disputes (BTW, I live in GA and take full advantage of ordering my two free reports a year). After working on repairing my credit since late 1998, here are the big baddies that are left on my report. I did an online dispute in Dec., and many of these items (as you'll see) were verified at that time. Any advice for forging ahead on this project would be appreciated! 1. Judgement 8/97, related to car loan in item 7. Verified 12/00. Not sure what to do about this one. 2. Paid Collection #1: $35. Date of last activity, 01/95. Verified 12/00 (how rude!) 3. Paid Collection #2: $26. Date of last activity, 05/96. Verified 12/00 (see comment above) 4. Paid Collection #3: $35. Date of last activity, 12/95. Verified 10/98 (that was in my first round of disputes!) 5. First Natl Bank of Marin, acct opened 6/95 (I still have this account), 7/97 R3; 6/97 R2; 1/97 R5. On Experian, I was able to have this information removed during my last round of disputes in 2000. Here, it was verified as of 12/00. (BTW the account has been current since before 7/97--I moved and received bills late!) 6. First USA, charge-off (unpaid), date of last activity 1/97. I was planning to try to negotiate with them on this one. I have received NO correspondence from them about it since mid-1998. What do you all think? 7. Car loan, Am. Investment Bank (see judgement above). I am currently making payment arrangements with this bank. They ARE reporting the terms of the repayment, but are NOT reporting me as current (which I have been since I made arrangements in 9/00). I may hold off on disputing this one again and wait for mid-2001, by which time I'll have over 9 months of timely payments. And that's ALL the bad stuff. I also have the usual subprime suspects (Cap One, First Premier, another FNB Marin card, a Household Bank auto loan) and a Blair Credit account, all current, never late. Like I said, suggestions would be appreciated. Thanks for listening! I must also give thanks to all the fine individuals on this board, whose timely advice, help and support got me to this point, which believe me is about 150% better than when I started! Cheers, Cindy
RE: Preparing for next round ( Cindy, I'm trying to think of what I would do if your Equifax report were mine. You've gotta dispute those three collection accounts again...that's for sure...How long since your first disputes on these items. This time, you'll have to approach from a different angle: This acount is not mine." "I don't recognize this account." "The dates listed are incorrect." Also, have you been in touch with the collection agencies involved? Here, I can think of a couple options. First, you might ask them to validate the debt. Can they show proof that it's yours? Can they come up with any paperwork or contract that you signed? If not, then demand that the item be deleted from your credit reports. This is something I haven't done myself but I've read where others have used this approach successfully. The tactic I took with my creditors was more passive. I wrote letters to four of them, briefly gave good explanations for my delinquencies...and I'm sure you can fill those in...and asked that the negative items be deleted. My efforts were 50% successful. Two of the four companies I contacted deleted the negatives and the items are now showing as positives on my credit reports. However, in my two cases of success, I was dealing with my original creditors. What I'm not having much luck at is getting a two-year-old paid charge off deleted. Transunion has deleted it, Experian took it off, only to put it back on and Equifax hasn't budged at all. This black mark is driving me nuts! Oh, how I wish I were in the position you're currently in of having a charge off that's unpaid. Then, I would at least have some bargaining power. So I think the fact that you're in a position to negotiate a settlement is definitely in your favor. About the judgment...I don't have any experience with that but I'm thinking, since it's a public record and can easily be verified, the negative will be harder to delete. However, I'd still keep trying. Maybe others here can offer more thoughts and suggestions. Good luck and I hope this helps a little. Donna
RE: Preparing for next round ( Donna, Thanks for your reply!! >You've gotta dispute those three collection >accounts again...that's for sure...How long >since your first disputes on these items. The first dispute for the first two was 12/00. The third item was disputed only once, in 1998. I just went online and disputed all three, stating that they were not mine. >Also, have you been in touch with the >collection agencies involved? Here, I can >think of a couple options. >First, you might ask them to validate the >debt. Can they show proof that it's yours? Unfortunately they can, as I called in to offer payment, and sent a check for each of them from my current bank account...so no dice there. I am just going to continue disputing these with the bureaus until they get tired of hearing from me...after all, I DID pay the debts. Also, in my last round of reports ordered last year, some similar collection accounts that I didn't even dispute fell off the reports. (crossing fingers) >Oh, how I wish I were in the position >you're currently in of having a charge off >that's unpaid. Then, I would at least have >some bargaining power. So I think the fact >that you're in a position to negotiate a >settlement is definitely in your favor. Yeah, I am definitely going for the settlement route, here....later on this year, after I take care of some back taxes still owed. I would prefer to offer them a lump sum to get the doggone thing out of the way. Thanks for the advice and kind words! Cheers, Cindy
RE: Preparing for next round ( I have had some success negotiating with creditors. First, I send them Kristi's letter http://www.carreonandassociates.com/offcomp1.htm Usually I don't get a response. If I do, then I settle. When I don't I send them another letter, pieced together from several sample letters on multiple sites, as well as another copy of Kristi's letter. January 16, 2001 creditor address Re: account number(s) Dear Collection Manager, I recently sent you a certified letter on the (enter date) According to my records, this certified letter number ........ was received on (enter date). You have not responded. Thus, I must assume that you are either unable to validate or unwilling to negotiate these alleged debts. (Sometimes I add this if I do contact the original creditor) Furthermore, I have contacted (enter original creditor). The (original creditor) has no record of me owing these debts. Thus, I must ask you to provide the following information: · tell me what this money that you say I owe is for · show me how you calculated what you say I owe · give me copies of any papers that show I agreed to pay what you say I owe Please be advised that I am not requesting a "verification" that you have my mailing address, I am requesting a "validation"; that is, competent evidence that I have some contractual obligation to pay you. Furthermore, this is not a refusal to pay, but a notice that your claim is disputed. Sincerely, your name This has really been working lately. Hope this helps, Kelly
RE: Preparing for next round ( Kelly, GREAT letters! I am saving them for future use later this year. Thanks again, and I'm glad to hear of your success as well, Cindy
RE: Preparing for next round ( Kelly, Just how affective is the Kristie letter? I have a few collection items (2) and 2 charge-offs (one's mine, the other my ex-husband) and I haven't paid a penny to any of them since they went into collection (early 1999). I'd like to have them removed. I also have a foreclosure, but I'm SURE they won't be to remove that one. If I could get these other things taken care of though, that would help some. Thanks in advance.
RE: Preparing for next round ( Good work, Cindy, I'm glad you went ahead and redisputed the three collection accounts. Like you, I'm just going to keep hounding Experian and Equifax until they get sick of me and delete the paid charge off. That thing is driving me nuts! In your case, the fact that your three collection accounts are paid is definitely in your favor. If the big three do bother to verify, the collection agencies may eventually grow tired of responding. Yes, save the money and then negotiate a settlement for your charge off. Your creditor probably will insist on a lump-sum payment in exchange for deletion. I hope you'll be successful in getting the derog deleted as well as a significant reduction in the balance. Please keep us posted. Donna
RE: Preparing for next round ( Hi Shantel, When I started negotiating, I sent Kristi's letter to all the creditors. I didn't have much luck. But when I sent the follow-up along with Kristi's letter. Then, they were more willing to negotiate. Since it's the only strategy I've used, I don't have anything in which to compare my successes. I know, not much help Kelly
RE: Preparing for next round ( Donna, I will definitely inform the board of the results of the online investigation. Reading about the many positive results over the last few months has helped me tremendously. And as for the settlement...my plan is to get it taken care of by June. I am getting heartily tired of subprime land and $200 limits! ;-) Cheers, Cindy
