Newbie w/ ??

[WGL]

I am attempting to repair my credit report as well as pay off some debt, if SOL has not passed of course, and I have a few questions.

1) If a CRA deletes a listing, and I have not yet sent out my DV letter should I still send out a DV letter to the CA?

2) For listings (charge-offs) that may not be deleted but are soon to be SOL, should I wait until they are SOL to make any kind of settlements?

3) Should I dispute student loans in good standing (not currently making payments-deferred) to try and decrease income-debt ratio?

So far Experian has deleted 2 accounts (took less than a week)

[NefertitiX]

I am attempting to repair my credit report as well as pay off some debt, if SOL has not passed of course, and I have a few questions.

1) If a CRA deletes a listing, and I have not yet sent out my DV letter should I still send out a DV letter to the CA?

I would let sleeping dogs lie but keep copies of the documentation from the CRA saying they've deleted it to prevent or combat re-insertion.

2) For listings (charge-offs) that may not be deleted but are soon to be SOL, should I wait until they are SOL to make any kind of settlements?

How soon will they be SOL? I think once its SOL, you shouldn't pay at all. I would think you could just dispute them off.

3) Should I dispute student loans in good standing (not currently making payments-deferred) to try and decrease income-debt ratio?

So far Experian has deleted 2 accounts (took less than a week)

Great job!

[WGL]

I have a few where the SOL may be May, June, July of this year

I'm actually not sure

Would it be OK to call OC and get DOLA because I just cannot find the info, and most of my deliquencies were probably late 2000, early 2001 when I started working part-time and went to school full-time

and the SOL for CA is 4 years, so most are probably near SOL

[NefertitiX]

I advise against calling, I would send them a letter for verification (kindof a DV letter to an OC) though they aren't understand the same obligation as CAs. Most don't have the records after 2+ years so they'll either send you a letter stating that (in which case you need to get an affidavit of destruction) or just take it off because they can't verifiy it. I did this with FirstUSA Bank and they just removed the listings, no questions asked. I'm in the process of doing this with Discover and a few piddly store accounts as well. I knew going in though, it could stir up a hornets' nest but I felt enough time had elaspsed that the chances were on my side. Plus, once they've charged it off I think they have less of a vested interest in finding records, etc.

[WGL]

Would you mind replying with a copy of the letter you sent to the OC, or was it merely a letter asking for date of last activity and who the account was sold to?

[NefertitiX]

WGL, sure, this is the letter I sent to the OC. Actually, I sent it originally to two OCs, the worst on my reports -- Discover and FirstUSA. FirstUSA responded saying "we're sorry, its been removed". Discover asked for more information but I told them that that's all I can provide as that's all that's on my report and legally as the furnisher they are responsible for what they are reporting so its their job to research it and act accordingly. Hopefully they'll remove it. Since then, I've sent this to several other small OCs and hopefully the results will continue to be favorable. BTW, I got this this letter from this post (http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=20790) and just tweaked it. I hope that if you use it, it works for you too!

January 17, 2005

OC

OC Address

To Whom It May Concern:

I request that pursuant to 15 USC 1681s-2(a)(8) of the Fair and Accurate Credit Transactions Act, you investigate and verify account number XXXX*. I am unable to provide a full account number as this is the account number as you have it listed on my credit reports. In addition please validate ALL tradelines reported to ALL credit bureaus. Be advised that I am not requesting verification that you have my mailing address; but rather, competent evidence that I had some contractual obligation sans consumer protection encumbrance which incurred the original claims associated with this tradeline. I am seeking the following information:

o Copies of a signed contract or an instrument bearing my signature.

o Documentation verifying that I did in fact have an outstanding balance from this account.

o An explanation on how a calculation was made on what I purportedly owed.

o An explanation of the procedures used to inform me of such an outstanding balance.

Please note that you have 30 days from the receipt of this letter to provide the above or remove the associated tradeline notations from all Credit Reporting Agency reports. Any other action may constitute evidence of your intent to abridge one or more rights afforded me under the Federal credit laws. Please be further advised that continued unsubstantiated reporting of possible inaccuracies to third parties may provide a basis for complaints being filed in accordance with FACTA, FDCPA, FCRA, and other federal statutes.

I look forward to a speedy response and resolution.

Sincerely yours,

NefertitiX

Address

[WGL]

Thanks I'll send these letters ASAP to some folks in which I think that the SOL is nearing.

I'm not sure of the SOL dates, so do you think that I should wait until mid-year or just go ahead and send them? They are charge-off accounts

[KentWA]

With all close to SOL accounts I think you should wait until you know they are SOL. You could wake a sleeping dog. If someone looks at the account and realizes they only have a couple months they could file suit immeadiately to lock in a claim before SOL runs out.

[NefertitiX]

I agree with Kent, leave it until you know that there is no way for them to lay a claim. Or, be aware and ready for what may come. In my case, since these accounts had been sold to CAs (whom'd I'd already handled) and the SOL had expired for the state I was in at the time and close for the current state that I'm in, I took a chance. So far, the jury is only in on the one and out for 4 so only time will tell.