I need a lot of help

[sjohnson]

A little back ground... In 1999 someone basically committed fraud againt my husband and I and it ruined our credit(both scores below 500). My husband was working for this man and he also quit paying my husband so it made our financial situation really bad. We have just now gotten back on our feet again and this man just pled guilty in court. He is supposed to pay us part of the money he owes us on Nov 1st. I think he will pay because he will go to prison for 5 yrs if he doesn't. Since I am now going to be able to pay off a few items, I am trying to get our credit reports clear but I am new to this and need help.

First, the worst thing we have is a judgement against my husband from NCO. We will have enough money to pay the judgement on Nov 1st. Should I try to vacate the judgement or is it best to write a letter to NCO asking for it to be removed after paid? The dept orginated with MBNA so do I need to also send a letter to them to ask for it to be removed? The only other negative thing on my husband's credit reoprt are two collection accounts that he was only an authorized user on so I have sent letters to get those removed.

I also need to know if the orginal account should be showing a balance if the account has been sold to a collection agency. If not, do I just request that the dept be validated or is there something else that I need to do?

The judge is issuing a letter listing all of the accounts that were involved with the fraud, does anyone know if this letter will help me get any items removed from my credit? I have a medical collection on my report and the SOL has not ran out. I am able to pay the bill in full. Should I try to make a settlement or should I go ahead and pay the entire amount. What are my chances of getting this removed after paid?

One final question, how long does it take most people to raise their FICO 100 points or more?(I have several good standing old accounts that will be remaining if I get the bad removed)

[Guest jeeptravel]

There are basically 3 ways to get the judgement off your report to increase your score:

#1 Pay it (or a negotiated part of it)

#2 Wait a looooooooooooong time and then try to get it off the Credit Report.

#3 File BK

Someone else here might know some fancy way to get around another way, but I would recommend calling the company and negotiating pennies on the dollar (or whatever you can reduce it to)

Glad you are back on your feet. Your score can come up quickly if you attend to the derogatories and establish new credit.

-JT

[Lainee]

Hey there.

Glad you are doing better now. Seems to me that you shouldn't be responsible for something that happened to you because of fraud. I mean, if my credit card is stolen and rung up to $10,000 I'm not responsible because it wasn't me, you know? It sounds like this is a very complicated situation. I would suggest getting some professional help if at all possible. I'm sure that hiring a lawyer would be difficult for you now, but there has to be some information to be had out there. I would talk to the judge, the credit reporting agencies, anybody who might possibly have a shred of information for you. There is a section here for litigations and I really think you may want to post there and see if one of the resident lawyers here can clear this up for you. I would hate to see you pay for things you were not responsible for. I'm so sorry for your situation and wish you the best of luck.

:- )

Lainee

[retmar]

Most definitely, you need to check into each debt to find if it is one you are liable for. If it is included in the fraud charge, you should not be liable as long as you have absolute proof you did not create the debt. Any debt that was incurred due to non-payment of wages, you are liable for, but, could use it as a good reason for the non-payment of debt.

For this reason, I would approach NCO, again, if you are absolutely sure you are liable, in writing, and include all proof, that upon payment from the Restitution Funds, you will remit payment as long as they agree to delete all references at the CRA's as this was due to someone committing Fraud, etc., and not by any inaction from yourself. If the debt is due to the Fraud, send a letter with all copies of proof to them and demand they vacate the Judgment and go away. If they refuse, then you file and go to court to have it vacated. Even though the SOL may have passed on the filing, do it anyway as you have good reason for it to be decided.

As to all other debts, make sure you are absolutely positive they are your own legitimate debt. Make a list of all, including all information. Then check to see if timebarred or whatever. From that point, you will make offers of settlement accordingly. Be sure and include the Fraud so as to create an avenue of approach for deletion of all TL's.

[katwoman]

If the OC's have sold the debts, then they SHOULD be showing $0.00 for all amounts with perhaps, the exception of the most owed field which would list the highest dollar amount you owed at one time. Interestingly enough, once the TL reports this way, it actually is a postive one even when the notation says the account has been sold.

Do not waste your time by disputing these TL's as "not mine", IMO. It seems many do this, myself included, only to be frustrated when the entire TL comes back verified and the CRA's tell you they won't take any more disputes. Just cut to the chase and dispute the outstanding balances or the late payment history.

As for the medical debt, did you have insurance at the time? Is this really a debt you owe? Did you ask for validation if this is with a CA or verification if it's the OC? Ask for a detailed billing of charges.

[CW]

I agree with Lainee.... don't pay these debts incurred by that bastard. If there is a judgement in terms of this man, I use the term loosely, owing yu damages the try to use that instrument to show that these were debts not incurred by you. You may need an attorney but see what can be done by contacting reasonable means. Perhaps a letter from the judges clerk stating what happened. Don't pay someone elses bill.... sue that person to have them reconcile.

[retmar]

I forgot to add in my last as to the debts that are Medical. You can handle them by composing the HIPPAA letter with proper insert and send CMRR with full payment due to the OC. This will cause the TL to be deleted or the OC can face fines.

To rreaffirm, do not offer to pay any debt that is not due to any action of yourself or spouse. Send copies of all documented proof to the CA and tell them to go eat Maggot Droppings, or else.