Can someone please give this newbie some advice.....i have 7 accounts in collections two are charge offs that are about 3 years old 1,500 and 2,100 the others are more current phone bills and med bills and 1 telecheck these are under 300 dollars....i've called the ca for the two charge offs which were both sold to the same place do you recommend that i pay off the bigger debts first or the smaller ones..........i have no credit cards now and i also paid off my car which has multiple delinquencies........CAN SOMEONE PLEASE HELP.......oh and i also checked to see if the ca needed to be bonded or licensed which unfortunately they dont....i called the ca and they said if i were to pay them they would send a letter agreeing to put that i paid in full ........as long as i started making a payment first.......i was young and stupid and i didn't realize how important credit is i would eventually like to buy a house which is impossible for me with a 427 trans union score anyway to bump up some points or where should i start on repairing my credit Thanks
If you want to pick up your credit, especially from a 427, simply paying these CA accounts WILL NOT HELP your score. You need to get something in writing from creditors agreeing to DELETE the accounts from your credit report.
only slightly. acct. paid in full merely reduces your balance so that it shows that you don't nearly as much. That could help your score but that's only a short term fix -- the negative info. on your account will stick with you for a looong time. What you want to do is try to somehow, before you pay, get the CA to agree to delete the accounts when you pay them. It's a negotiation -- you owe them money and you're eventually going to pay them back. But when you do, make sure that money is buying you as much as it can -- and one of the things you should try to get is a deletion letter from the creditor. If you search the board there are some creative ways and suggestions to do this. Just remember: they want your money and they want to get it in the cheapest way possible.
thanks for the tips but i have one more question if you don't mind (sorry)....when i called the original creditor they said i had to call the collection agency that my account had been sold so i have to deal with them directly......so do you think it's possible when i get half way through with paying off the debt that i could mention the deletion or are they going to basically make me go in circles back to the original creditor?? Do you think a secure credit card would help me out??? lol ok that was two questions sorry thnx
If the OC "sold" the account to the CA, the CA can't help you with how the OC reports. You can always, and might actually have the legal right, depending on what state you live (calif.) request for the OC to validate the account. And you can always dispute the account with the CRA's. You should do a search and read up on validations, you can always try it with OC's (legal right or not), and definetely have the right to request validation on CA's. As far as getting a secured cc, it's a good idea if you don't have any positive tradelines and need to start establishing credit. It will take at least 6 months though for the secured to help your credit scores.
What you want to do is try to somehow, before you pay, get the CA to agree to delete the accounts when you pay them. klingsor ''''''''''''''''''''''''''''''''''''''''''''' No: What you never want to do is pay an unvalidated debt. THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
When we (Re CA) make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. WestCap =========================== Some one was asiking a while back about getting the oc to delete in addition to The CA. Don't know who the poster was or on what thread they posted but here is your answer!! This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS.
so how would i go about validating my accounts??? is that the same as disputing with the credit bureau?? even if they appear accurate is it still possible to try and get it validated? being that it seems accurate i'm not totally sure since it's atleast 3 years old. If it's possible to still validate <bump>
Pay particular attention to the validation post in these threads. author replies views date GMT -5 hours MUST-READ: "Hall of Fame" Postings CCN steve 0 1246 06.30.2003 @ 22:18 INTRO: Unofficial CreditNet Board FAQ Nave 31 17625 06.21.2003 @ 10:22 INTRO: Creditnet Glossary richard612 132 17243 05.28.2003 @ 13:44
1*i've called the ca for the two charge offs which were both sold to the same place 2*do you recommend that I pay off the bigger debts first or the smaller ones.......... 3* paid off my car which has multiple delinquencies........ 4*.i called the ca and 5*they said if I were to pay them they would send a letter agreeing to put that I paid in full ........ 6*as long as I started making a payment first...... =elisa77 | ===== =================************====================----------- 1*Ya broke the first rule in dealing with a ca - stay off the phone. 2*I don't recommend paying A CA a red cent without our complete accurate and proper validation. Also paying a CA or collection does not help your score or credit rating. 3*Should have gotten the lender to remove negs before paying it off. 4*Broke rule one again didn't you? 5-Yeah why not! 6*Didn't tell you that while you make the payments they screw your credit did they?
i know i broke the rules.................someone shoot me i didn't know the rules yet....this is horrible it sucks
i know i broke the rules.................someone shoot me i didn't know the rules yet....this is horrible it sucks I JUMPED IN TOO SOON BEFORE I FOUND THIS WEBSITE
ok so i send a validation even though i owe these debts ok i'll do that................HOPEFULLY I DIDN"T SCREW IT ALL UP FOR ME
ok i'll send a validation but before i do....before i found this website...i disputed with the cra now is it ok to still send a validation and if so do i use this one "Dear sir/madame: thank you for your recent inquiry . this is not a refusal to pay but a noctice that your claim is being disputed" ??? is this the correct one OR DID I SCREW THIS UP TOO by disputing with the cra first i did that maybe 6 days ago
Send the validation anyway... I screwed up like that, too, before I found the site...spoke to the CA on the phone, etc! Sent the validation after reading here and it went well...now just 2 more to go!!!
