Credit Repair and Major CC Issuers

[johnransom]

I have a number of bad accounts that are now almost three years old and therefore about to hit SOL in Alabama. However, none of these have been sold to CAs as yet and remain in the hands of the original lenders, most of whom are major issuers of credit cards (Citibank, Capital One, etc.). How likely is it that I can get my credit cleaned up by disputing items reported by these companies? Aren't they much more likely to be maintaining accurate records?

Any advice on how to successfully dispute such items would be gratefully accepted.

[gypsie]

IMO, I would wait until the SOL has run. Then try disputing the tradelines with each CRA. If you dispute now- you'll probably "wake them".

If they come back verified, you can always contact the creditors and negociate a PFD ( you have more negociating leverage if the debts are past the SOL )- which you will need to get in writing. Getting the PFD in writing is very important- to prevent the creditors from re-aging the account and proof that they agreed to delete/extinquish the tradeline/account - just in case they don't.

Also, If you negociate a PFD- Make sure you Know For Certain- the debts have not been sold or acquired by a CA or JDB, and they just haven't reported yet- this is a whole new set of problems.

my 2 cents- be careful with Cap one, yes- they do keep good records, and they are notorious for re-aging accounts. I personally never had a good experience with speaking to their CS reps.