PLEASE help this newbie!

[MissLady]

Hi Everyone,

First I would like to thank you guys for all the information on this website. I hired a credit repair firm and they got a little bit of result but after running into this site I decided that I could do better and learn a lot in the process.

Here are my questions:

1. I have heard that it is not worth disputing open accounts with negative entries because if you are ever late on that account again the creditor will report all the old history with the negative entries and all those negatives will show up again. Is that True?

2. Equifax doesn't seem to have the account numbers for some of my accounts with negatives. If I dipute them as not mine will the creditor be able to verify them since no account number is given? (My name is very unique, I'm like the only one with my first and last name)

3. What are some the reasons to dispute foreclosures other then disputing that the account is not mine

4. I have one account with negative entries that the credit repair company disputed. Right now it is not showing up with the negatives on myfico.com. but it still list all the negatives with a description of "account is disputed by consumer" it must have been like that for about 60 days now. How do I handle that? How do I get the credit company to totally remove it or remove the negatives and not leave it on my credit as being diputed?

I appreciate all inputs. I can't wait to send my first round of dispute! You guys got me so excited!

[Champion80]

I am not sure about your first question, i am not sure what will happen if you dispute an open account late pays, I do know I had an MBNA line of credit for a computer I finished off last year, I had some late pays about 3 years ago and I tried to dispute the the lates but they came back verified, I just read a new article on the site which was gave me a little more insight on how to deal with my remaining negatives.

Heres the link: http://www.creditinfocenter.com/repair/MethodOfVerification.shtml

You had said Equifax didnt seem to have the account numbers, when you say that do you mean the whole account number, what kinds of accounts are theses, I konw my report which was just a consumer file from Creditexpert or something like that only had a couple numbers then the rest was coded, but when I called and disputed the accounts they know which ones your talking about. And considering the first step is just to dispute the item anyway, when you get the letter back in the mail it will contain the whole account number and you will then have it on file. And regardless if your name is unique or not, there are little laws and holes in the system you have to learn to exploit using the info on this site.

I am not sure on the foreclosures, I have no experience with those, I would search the site for foreclosures and look for material on the main site, I am sure there are plenty of helpful friends in the forum that have dealt with one.

As far as your account witht the negatives showing disputed on your FICO, have your recieved any letters? It is their obligation by law to remove them withing 30 days if it is not verfied, the only way it can take longer is if you reply to a letter they may send to indirectly get an extention. But if you didnt reply to anything, the negatives have to be taken off if they are still reporting disputed.

I am just one of many that will help, I am definately not an expert, but have learned a lot from this site and have put into practice what I have learned and so far have gotten 8 negatives off my report.

Good luck.

[workinninetofive]

Dispute everything (including lates).. if the acct is bad enough. A lot of times lates will cause the whole TL to disappear. So, if it's something with enough lates... to be a bad acct then it will probably be in your best interest anyways. You never know what a creditor will do. They might. They might not. If its open, they will probably have info on it. If it's paid off for a couple of years they probably won't.

[MissLady]

You had said Equifax didnt seem to have the account numbers, when you say that do you mean the whole account number, what kinds of accounts are theses, I konw my report which was just a consumer file from Creditexpert or something like that only had a couple numbers then the rest was coded, but when I called and disputed the accounts they know which ones your talking about. And considering the first step is just to dispute the item anyway, when you get the letter back in the mail it will contain the whole account number and you will then have it on file. And regardless if your name is unique or not, there are little laws and holes in the system you have to learn to exploit using the info on this site.

Thanks for the reply champion. The accounts are credit card accounts. For account number equifax states "Not on record". So I'm assuming they don't know what the account numbers are. I know that the experian will know what account I'm referring too but since they won't have an account number to provide the credit card companies I hope they won't be able to verify them. Those are all resent accounts that were settled this year.

As far as your account witht the negatives showing disputed on your FICO, have your recieved any letters? It is their obligation by law to remove them withing 30 days if it is not verfied, the only way it can take longer is if you reply to a letter they may send to indirectly get an extention. But if you didnt reply to anything, the negatives have to be taken off if they are still reporting disputed.

I am just one of many that will help, I am definately not an expert, but have learned a lot from this site and have put into practice what I have learned and so far have gotten 8 negatives off my report.

Good luck.

I never reply to anything the CRA sent me. I'm not sure if the credit repair company did though.... I will take your advice and just call them and ask them to remove it if it was not verified.