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Who will take me under their wing?


liliputian
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Hello,

I am as new as they come on this forum. I have finally grown up ( a little late), but want start rebuilding and buy a house. I have read many of the forums, but need advice on how to strategically repair my credit. Is there anyone who is willing to point me in the right direction. I have some questions:

1) Good place to get my credit report?

2) Best way to take care of my collections. (settle or pay in full)

3) Suggestions on credit repair lawyers?

4) Opening new tradelines?

This is just a start to any willing mentor(s)

PM me , reply, send smoke signals ...I dont care.. :D

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I am as new as they come on this forum. I have finally grown up ( a little late), but want start rebuilding and buy a house. I have read many of the forums, but need advice on how to strategically repair my credit. Is there anyone who is willing to point me in the right direction. I have some questions:

First of all, this is most important, spend TONS of time reading posts. You will get a good idea of what other people have done in your situation, and what has (and hasn't!) worked for them. Obviously one thing doesn't work for every situation or every person's credit.

Read this link "How to Begin your Credit Repair, a Primer", it is posted at the top of the forum as "sticky" (meaning it always stays up there):

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=24558

A lot of what you may do will depend on a few things: what state you are in (different states have different statues of limitation on debts and different laws on collection agencies), how old your debts are and what kind they are.

2) Best way to take care of my collections. (settle or pay in full)

There are different options besides settling or paying in full. If the debt is past the statute of limitations, you are not obligated to pay the debt, no matter what the collection agencies say. It can still stay on your credit report after the SOL however. You can make a deal to settle to get it off your report, but you MUST have an agreement in writing. Another important thing, don't EVER call a collection agency, every communication should be in writing, CMRRR (certified mail, return receipt requested). They can say anything they want to over the phone, and you can't prove it. There are many laws to protect us against someone collecting a debt. Read, read, and read more to find out what legally they can do and what they cannot. Which doesn't mean they won't do what they are not allowed to under the law! Several people here have sued collection agencies and/or the credit reporting agencies and won.

3) Suggestions on credit repair lawyers?

You don't need one! You can learn enough here (or by buying the book "Good Credit is Sexy") to do it yourself. Why spend tons of money paying someone else to do what you can do yourself (and probably better!)?

4) Opening new tradelines?

Go to the "Obtaining credit cards, Auto Loans and Financing" forum and read what credit people have gotten. That will depend on exactly how bad your credit is (your score and what types of baddies are on there). You may have to start getting a secured credit card. Read other people's experiences on different cards.

I haven't even started my credit repair, because of precarious housing situation, and I still have a lot of learning to do. It's not going to happen overnight, it will take a lot of time. Most importantly, learn how to get and keep good credit.

Anisah in Michigan

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The SOL (statute of limitations) in Texas 4 years for everything but judgements, so if any of your debts went into default more than 4 years ago, they cannot collect from you. It can stay on your report for 7 1/2 years though, so if you want them off you have to "pay for delete", get them to agree in writing to get it off your report for you paying. Just make sure to get it in writing. They could still sue you after the SOL is up, but your defence would be to show that it is past the SOL. I don't think they do that very often though. They threaten to sue even when they wont' or can't just to get people to pay who don't know their rights.

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Thank you both. I have been reading for literally 4 hrs today. Any suggestions on where to get my credit report. Is it something that I can order and download online or do i have to wait for it in the mail. I might have a lot of questions so be patient with me. thanx again!!

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. Any suggestions on where to get my credit report. Is it something that I can order and download online or do i have to wait for it in the mail.

In my experience, you can't fix this overnight so the best method of getting your CR is writing for it. There are instructions how to do that in the main links of the site.

Yes, it will take 2 weeks to get the reports, BUT there will be a report number on each report that you reference for future disputes. This little detail eliminates tons of stupid identity questions and stall tactics.

Also, I have noticed that the written reports include just a little more information than the online reports.

That my 2 cents anyways...

*******************************************************

Also, DiveMedic posted links to two threads. These are the most valueable threads in all of CIC forums. I used them with GREAT success in very short timeframe.

Good luck.

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lil,

Get your reports directly from the agencies' web sites. Pay the $10 per site and get them online and be done with it. Getting them directly from the agencies also gives you a agency file number that you can use to dispute your issues. Looks much better to them to have the real and correct and current info. After that your reports will be coming in almost monthly from your disputes so you will not need to buy them really after that. Also, get your FICO from MYFICO.com do not use the other services scoring as it it almost always inaccurate.

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I went to 3 dfferent bookstores last night to buy "the book" and nobody had it in stock, so I ordered one online. I think I want to open another trade line while I begin the rebuilding. Just to have the history. I currently have an Orchard unsecured with the whopping $300 limit and thats myonly current tradeline and CC. Any suggestions on who else might grant me credit. Cap1, BofA, my Credit Union? I know you guys say to do this myselft, but where do you find the time to meticulously follow all of this? With my full time job and tons of Dr. visits I dont know if I can do it. What is your opionion on those law firms and suggestions on one. I dont mind paying someone to work on this full time.

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Credit repair law firms are a waste of money in Grim's opinion. I take it with doctor visits you have tons of medical bills, and likely medical collections since a$$hole doctors will turn someone to collections within 36 milliseconds of due date, or worse I've known one doctor who signed up with a "billing company" that ended up being a CA (First Pacific).

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http://www.creditinfocenter.com/legal/FCRA.shtml#612

(3) REINVESTIGATIONS- Notwithstanding the time periods specified in section 611(a)(1), a reinvestigation under that section by a consumer reporting agency upon a request of a consumer that is made after receiving a consumer report under this subsection shall be completed not later than 45 days after the date on which the request is received.

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In may experience with the free written reports, the CRAs have never refused an investigation for me. My reports are all dated February of 2005. I disputed a bad phone number last month based on these free reports that are now 260 days old and the CRA rep just took the investigation request. No fuss...

Dive has said it several times in various posts. If you are nice to the CRA reps they really try to work with you. ( at least in most of my experiences.)

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Credit repair law firms are a waste of money in Grim's opinion. I take it with doctor visits you have tons of medical bills, and likely medical collections since a$$hole doctors will turn someone to collections within 36 milliseconds of due date, or worse I've known one doctor who signed up with a "billing company" that ended up being a CA (First Pacific).

Grim,

That would be correct. (cancer survivor) As if I didnt have enough collections to begin with, I am accruing tons of medical bills as well. Sucks getting sick in this country. Its my understanding that medical collections dont way heavily when buying a house in TX? So guys, IF you had to go with a law firm....Lexington?

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