Like the title said this is probably really a silly question but bear with me I am very new to all of this. If I send out my validation letters to these CA and they cannot prove they have reason to have my accounts to collect upon, they then take it off of my report, correct? Then what happens? How does that look on my report? From there does my credit begin to re-establish? How long does that usually take? Also I just learned of this board on Sunday so i am very new to this, I had a GM card with a low balance, maybe about $900 on there, I was paying them $100 a month, it is a CA acting as a law office, (i think the law office part scared me) so i agreed to pay them the $100 a month, now I am sure its to late to stop paying them and send them a validation letter, correct? Since I have spoken with them in the past and agreed to pay this to them...(i did this before knowing anything about CA's and how slimy they are). Thanks! Sheri
Hi Sheri, We need some basic info. What state are/were you in? What do you think is the date of the most recent payment you made immediately preceding the charge off? Have you checked the SOL?
I am in WI (have been the entire time) I am not sure when the charge off was to be honest, I have been making payments to this "law office" since probably about May. What is SOL? I do not have a copy of my credit report, I know I know I should get that asap but as of right now I do not have that information. I do plan on getting it very soon though, I know that would help so much. Thanks! Sheri
Re: Re: Probably a Silly Question... Well that's the first thing you need to do. We need to figure some things out. SOL = Statute of Limitations on collection. In WI, it's 6 years. Do you think the charge off happened that long ago maybe? Or more recent? What's your best guess? Go over to one of the online report sources and spend 10 bucks on your report. It's worth it the first time.
Re: Re: Re: Probably a Silly Question... Oh definitly not in the last 6 years. I am only 21 and probably dug myself a whole within the last 2 years...I have a ways to go.. Do any of the reports online allow you to pay through a savings account? I pay for everything in cash I do not own 1 single card anymore, I dont want to get myself into the mess I am in right now. Which isnt a huge mess but big enough for me right now. Do you generally only want to dispute after the 6 years or can you do it before hand? Like once your account goes to a CA you should be able to start disputing because that means the OC has dropped the account figuring you are not going to pay, and then the CA paid little to nothing for your account *hoping* you are going to pay, correct? Sheri
Originally posted by SheriHoppe Oh definitly not in the last 6 years. I am only 21 and probably dug myself a whole within the last 2 years...I have a ways to go.. Wish I had this board when I was 21. Course we were still using morris code. LOL Do any of the reports online allow you to pay through a savings account? I don't think so. Try calling one of em tomorrow and asking if they take "checks by phone". If you need to order them by mail that's no biggy. Personally I prefer getting your first reports this way anyhow. I WILL GET MY REPORTS ONLINE TOMORROW I WILL USE MY HUSBANDS CARD TO GET THEM ONLINE. ANYONE RECCOMEND A GOOD SERVICE WHERE I CAN GET ALL 3 REPORTS FOR A DECENT $$? ONCE I GET THESE ONLINE, CAN I REVIEW THEM AT ANY TIME? I pay for everything in cash I do not own 1 single card anymore, I dont want to get myself into the mess I am in right now. Which isnt a huge mess but big enough for me right now. Do you generally only want to dispute after the 6 years or can you do it before hand? The only difference is that POST SOL debts can't be sued for. If you know about the SOL's, they are SOL on the SOL. Like once your account goes to a CA you should be able to start disputing because that means the OC has dropped the account figuring you are not going to pay, and then the CA paid little to nothing for your account *hoping* you are going to pay, correct? Yeppers, pretty much. SOunds to me like you'll want to first begin by disputing through the CRA's to see if anything comes off the easy way. Then we can work on the CA. CRA? NOW WOULD THAT BE LIKE TU, EQUIFAX, AND THAT OTHER SERVICE? I WOULD WANT TO SEND LETTERS TO THEM? AND THEN AFTER THAT SEND OUT TO A CA? REASON I ASK IS A CA RIGHT NOW JUST SENT ME A LETTER ABOUT AN ACCOUNT I NEED TO DISPUTE AND THEY SAID I HAVE 30 DAYS TO DISPUTE THIS, SHOULD I FOLLOW THAT AND GET MY VALIDATION LETTER SENT OUT TO THEM WITHIN THAT 30 DAYS, OR DOTN WORRY ABOUT THAT AND JUST WORRY RIGHT NOW ABOUT THE LETTERS TO THE CRA? THANK YOU FOR ALL OF YOUR HELP, I AM NEW AT THIS SO SORRY IF I SOUND SILLY WITH SOME OF THESE QUESTIONS. I HAVE DONE LOTS OF READING ON THIS SITE AND I THINK ITS HELPING, BUT I JUST WANT TO MAKE SURE I AM CLEAR ON THINGS BEFORE I JUMP THE GUN AND REALLY SCREW SOMETHING UP =) THE REST OF YOU GUYS! CAN SHERI GET A FREE REPORT BY SAYING SHE'D BEEN TURNED DOWN? DOES THAT STILL WORK?
I just signed up for privacy guard, got all three reports, can check them at anytime, and it only cost $1 for 90 days. Make sure to cancel on day 85 or so, or you will be charged $89.99 for the full year.
-------------------------------------------------------------------------------- Originally posted by SheriHoppe Like the title said this is probably really a silly question but bear with me I am very new to all of this. If I send out my validation letters to these CA and they cannot prove they have reason to have my accounts to collect upon, they then take it off of my report, correct? Now we can answer these questions. Unfortunately it's not quite this easy. Theoretically this is right yeah, but in reality ... well that's a different story. Then what happens? How does that look on my report? It would be gone. From there does my credit begin to re-establish? How long does that usually take? In my opinion, especially at your age, it's better to have a blank file than one with any negative on it. Also I just learned of this board on Sunday so i am very new to this, I had a GM card with a low balance, maybe about $900 on there, I was paying them $100 a month, it is a CA acting as a law office, (i think the law office part scared me) so i agreed to pay them the $100 a month, now I am sure its to late to stop paying them and send them a validation letter, correct? Perhaps. A presumption exists when we pay a debt because they assume if it wasn't ours we wouldn't have paid it. This is not always the case tho. The 900 you note above, is that the current balance or where you began? What's the balance now? IT WAS A BALANCE NOW THAT I THINK OF IT BEGINNING BALANCE OF $1100 NOW ITS AT ABOUT $700 I BELIEVE. I PROBABLY SHOULD JUST CONTINUE TO PAY THIS, CORRECT? Might have you validate the amount by demanding a complete statement of account. During that process they will commit violations, they always do. Later when the case is closed you can leverage that into a complete deletion of the TL. Since I have spoken with them in the past and agreed to pay this to them...(i did this before knowing anything about CA's and how slimy they are). See, they record those calls Sheri. You most likely admitted to the debt. I AM SURE I DID ADMIT TO THE DEBT =( WELL ITS TRUE I HAD THE DEBT BUT I WASNT PAYING ON IT BECAUSE MY INCOME WASNT ALLOWING, SO I AM ASSUMING THE OC WHICH WAS GM MASTERCARD JUST FIGURED I WASNT GOIGN TO PAY THEM, THEN THIS CA PICKED IT UP AND IS HAVING ME PAY. I WISH I KNEW OF THIS SITE BEFORE THIS. OH WELL, LIVE AND LEARN. Question: Is both the OC AND the CA reporting? This is the first question we need answered. And you won't know till you get your reports. See? I GUESS I JUST GET FRUSTRATED WITH MY MISTAKES. I HATE WISCONSINS RULES AS FAR AS MARRIAGE GOES, I AM DRAGGING MY HUSBANDS CREDIT DOWN AS WELL WITH THIS MESS I GOT MYSELF INTO. NOW IF MY HUSBAND WANTS TO GET A LOAN THEY LOOK AT MY CREDIT TOO AND HE WOUDL PROBABLY GET DENIED BECAUSE OF ME. EVEN THOUGH IS CREDIT IS PROBABLY THROUGH THE ROOF PERFECT, HE HAS NEVER BEEN LATE ON A PAYMENT EVER AND HIS BALANCES ARE EXTREMELY LOW. I WISH I COULD SAY THE SAME. I JUST WANT TO GET THIS CLEANED UP AS SOON AS POSSIBLE. Thanks! Sheri
I usually recommend getting each of your 3 reports individually. 3 in 1's sometimes exclude important items of info. Your first reports should be right from the horses mouth, the CRA's. However, since you are cost conscious go ahead with Greg's advice and go to privacyguard.com. Just remember to cancel at the right time. Also, stop beating yourself up. Just resolve to fix this stuff and don't let it happen again. There's nothing wrong with that. It's not the mistakes that screw us up; it's the failure to learn from em. "I hope this is the worst mistake you ever make". lol
Transunion is the only one that will allow you a free report online. www.transunion.com Go to personal solutions and order now. Check the box for Transunion personal report (it says fees vary) Choose online and at the bottom check off either Within the last 60 days I was denied credit or I am unemployed and plan to apply for employment. As long as your info is confirmed, instant online reports as many times as you want.
Butch, I can answer your question. For the $1 deal, you get the three reports with one (Equifax, I think, I'll check in a few minutes) score. You can get a new report every day once you learn the system. You can pay extra for the other scores, but I don't know if the extra $10 is per pull or if it covers the full 90 days. I may try it and find out. I think it's $10 extra for each of the other two.
Re: Re: Probably a Silly Question... You only get the fico from EQ. If you want the other 2 scores they tack on $10, and $3 if you want their credit simulator to tell you what your score will probably be if you lowered balances or cleared some derogs.
Re: Re: Probably a Silly Question... I knew it was one of the "E" companies. It sure was easier when Experian was TRW! Is the $10 extra each time you pull, or does paying $10 once give you that score for the rest of your membership time? Problem is, I can't even log on now. It gets hung up on the authentication screen.
Re: Re: Probably a Silly Question... Out of curiosity I paid the $3 for there credit simulator. My current EQ is 631. After using the simulator to change may cc balances to less than 50% ( I just got a settlement from the drunk driver that ran me down) it simulates my score to go to 660. I have 2 paid medical collections (from the dui) that are being removed within the next 10 days. Wonder how close I will be to 700 after that? The simulator does not have a feature for removing derogs.
Re: Re: Probably a Silly Question... Thank you! I am going to do the privacyguard.com tomorrow and order my things, I looked at the Samples they show online and they seem very detailed and I can get a definite head start on everything, and for $1 (as long as I remember to cancel) I cant go wrong with that. If needed I can purchase something else but for now $1 I can handle. Thank you very much. Sheri
