What the...-- Help Please

Discussion in 'Credit Talk' started by hurricane5, Mar 30, 2001.

  1. hurricane5

    hurricane5 Well-Known Member

    Hello all,
    I have been lurking here for a few days, and now come asking for your help. I'm trying to find the fastest way to get my CR (and my wife's) cleaned up. Here's my story...Got into credit trouble in college, used to be a consultant and had to go without work for a little while in early 98. Last late payment was in 8/98. Have worked my way out of all debt since then. Besides the normal gas, electric, phone, etc. the only thing I owe is a mortgage payment ($1400/mth) and my wife's car loan ($400/mth) I made about $130k last year. However, my credit report looks like crap, BUT EVERYTHING on my report is PAID (I have all the letters to prove it) -- I even bought a house last May via FHA loan, so everything had to be paid off (honestly, I don't know how I bought my house with a 552 FICO). Anyway here's a synopsis of what I'm seeing:

    - My wife's car loan (joint) has been sold/transferred several times since '97 and each time the previous balance stayed on the report. So it looks like I have loans for $25K/$15K/$6K - instead of just one for $6K
    - 5 Judgments are listed - all are PAID - 2 are not reporting paid... I have tried twice already to rectify, and it hasn't happened
    - The things that went to judgement and are showing paid are still showing up as accounts with balances on them -- for instance Mont. Ward shows a balance even though the judgment shows paid.
    - Couple of more, but you get the jist...

    Why am I concerned about fixing this quickly? Besides the standard reasons of not wanted a CR that looks the way it does, I have to buy my wife a new car. We just had our second child in December, and my wife's care is WAY TOO SMALL now, both kids (3 months and 3 years old) are right on the doors - and since we take that car whenever we travel, we can barely fit anything else in the car besides the carseats.

    I have paid my debt to the Credit Gods, I now buy everything I can with cash -- I only have a Cap 1 card with $500 limit (however, from reading this board, looks like I should have more)...but I REFUSE to get suckered into another 2nd Chance Finance scam like I was when I purchased my wife's car, especially knowing that the cost will be much higher for a bigger vehicle...

    Please let me know your thoughts on my situation, any help you can give will be greatly appreciated...All I want to do is clean my reports up -- everything is already paid!

    Glad to be on the board!
  2. roni

    roni Well-Known Member

    This might help

    I think we have made it perfectly clear at this site that your first steps are to

    1) get your credit reports and learn how to read them and determine what is bad
    2) start disputing, especially since they are paid, you have nothing to negotiate.
    3) buy a credit repair book...recommend...Guaranteed Credit by arnold Goldstein
    4) hire a firm like Junum.com or Lexington.

    If you make $130K you can afford all of the above.

    It couldnot be more simple. Good Luck!

  3. hurricane5

    hurricane5 Well-Known Member

    Re: This might help

    Thanks for your quick response...I have gotten my reports (looking at them right now) but since my debts are all paid, what leverage do I have to make any of these creditors do anything (remove, fix, etc)...they already have my money, why would they care?

    Or is it more a factor of that since it is paid it's probably not in their system anymore?

    I have no problem giving Junum a try, but could they really help?

  4. Calvin

    Calvin Guest

    Re: This might help

    I have had much success in deleting the last 3 charge-offs I had on my reports. Like yours, mine were all paid off too.

    What I did was modify the validation1 letter from the yahoo group and word so that I was asking for proof that 1. The account was mine. 2. (Very important in your case) that EVERYTHING they were reporting was 100% accurate. For me they all deleted and or ignored validation from the CRA's after I sent the creditors this type of letter.

    For judgments it may not work out the same way. The CRAâ??s claim to contact the court and the courts do hold records in archive boxes of all cases. However a response letter from the creditor about the account, which has a judgment against it may work just fine. What I mean is that a letter from the creditor stating that they could not find proof of the account is enough for deletion.

    Note that I was told by Experian that they no longer accept UDFâ??s (Universal Data Forms) from creditors. So a letter to from the creditor in response to your validation request may very well be enough for the CRAâ??s to delete a judgment entry.
  5. AnnMarie

    AnnMarie Well-Known Member

    Keep this in mind

    Because you are married, I'm sure at least some of your accounts are AU on her's and she's an AU on yours. Those account will come right off with a dispute as not mine--because they're not (an AU is not the responsible party)
    I would definitely look at the suped up version of Lexington.
    Some companies don't bother responding to disputes once they're paid. Then you can attempt to get them to validate, if you decide not to go the pro route
    Much luck to you--let us know how it goes
  6. roni

    roni Well-Known Member


    I thought I answered your question. Dispute the item or hire someone to do it for you. Is this a joke. Is this Bobby. I really dont like wasting my time.

  7. roni

    roni Well-Known Member

    to hurricane5 not calvin.

    sorry 4 the miss up above.
  8. Christi

    Christi Well-Known Member

    Re: to hurricane5 not calvin.

    "I thought I answered your question. Dispute the item or hire someone to do it for you. Is this a joke. Is this Bobby. I really dont like wasting my time."

    See that is the attitude, this man is obviously new here and this is the treatment he gets. What is up chic, you having a bad day or what? I am new here and I hope you don't ever bother to read my posts much less respond in this manner to me.

  9. hurricane5

    hurricane5 Well-Known Member

    Calvin...more info please

    Calvin, can you provide me a link or post the letters that you speak of. I think that would be the best route to go (at least initially)


    BTW, these are all serious posts from me -- and I apologize if anyone is using this thread to abuse someone else's good name...
  10. Christi

    Christi Well-Known Member

    Hurricane 5

    Don't worry about it. I think Roni is in a tizzy today. Ignore her and take the helpful information most of the other folks are willing to share. I've learned alot here in my short time, but as in life someone always cops an attitude, obviously it's her day today.

  11. breeze

    breeze Well-Known Member

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