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2004- Business crashed. Had huge unsecured debts. Many 120-150 day lates, 9co's, 5 with ca's. Scrambled,scraped,e-bayed,liquidated and paid off everything. No pfd, no questions,just rolled over and paid everthing. Even dumber, I kept in contact with my oc's and ca's and kept them apprised as how much and when I could pay.

1) How badly have I (messed) up? As oc's and ca's have documents in hand that demonstrate my ownership of the debt. My boyish charm was for naught.

2) Now I want to clean my cr. Do any applications re: dv's change?

I greatfully acknowledge in advance any strategies you may share.

ps these debts were settled 2 years ago

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Thanks.

1) Is amex any different than other oc's? I've got several paid collections with them and I've heard they are much more willing to squash a delinquent payer.

2) Will my paper blizzard of communication with oc's void a request for validation?

I do have the 3 cr's and am ready to get going on the bad stuff.

I know these are completely credit repair 101 questions. I have read everything in print I can get my hands on. Some pretty lame stuff out there. I love this place. Alot of continuity and experience.

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1) Is amex any different than other oc's? I've got several paid collections with them and I've heard they are much more willing to squash a delinquent payer.

Not really, except that they do have better records and a longer memory. If your accounts with them were paid in full, they'll probably give you a Blue card now...

2) Will my paper blizzard of communication with oc's void a request for validation?

I'm not quite sure what you're asking here. (You use "validation" on CAs and JDBs. For OCs...if you're talking about having lates and that sort of thing removed, then your best bet is the "goodwill" approach.)

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Thanks a ton for the reply.

To clarify my question I'll have to ask another.

Asking oc or ca for validation means I'm asking for them to show me a signed contract that binds me, all the documentation that shows I participated in the contract while at the same time not refusing to pay(already have)?

Does the fact that I maintained contact with them and they have cm3r mail from me stating that I would pay because I owe it, in-validate my request?

3) Or does a properly worded dv go right to essence of the contract and whether or not it complies with fcra,fdca, and not that I necessarily participated in the contract?

Thanks again

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Hmmm...okay...I think I understand what you're asking.

You need to make a distinction between an OC, a CA, and a JDB (junk debt buyer).

If you paid off an OC, then it should be noted as such on your reports and you use a good will letter to ask them to remove any "late" notations. If you sent them a CMRRR saying you would pay...no sweat.

If you paid off a CA...whoops...you can't trust those people to do anything. If they're on your CRs, then I'd suggest you use the "hey, I just found you on my credit reports...I never owed you any money...go away, or I'll be forced to pursue my legal options" type validation letter. If you sent them a CMRRR saying you would pay...again, whoops...I'd suggest you just forget about having done that (after all, us "unsophisticated consumers" keep such terrible records) and see what happens.

If you paid a JDB...big whoops...see above.

Now...although the standard letters on the site here contain a laundry list of things to ask for to prove you owe somebody money...most courts don't really see it that way. For example, there usually isn't a "contract" with yoyr signature for a credit card. They go by the "if you use it, you agree to our terms" kind of thing.

So...again...if the OC says you owed it, its tought to get around. If a CA says you owe them something, then you can use the DV process. If a JDB says you owe them, that's another ball game....

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1)So, you don't DV an OC? Is that pretty much an absolute? Or is that for this situation?

2) What motivates the OC's to oblige my request for removing "lates". What do they get?

What a huge mistake it was to not pfd or RE all my pay-offs!

Again, Thanks

ps: my family farms in Ia.

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1)So, you don't DV an OC? Is that pretty much an absolute? Or is that for this situation?

There are exceptions (like when you truly have no idea why they're reporting) but, in general, the DV process is covered in the FDCPA...and the OC is not bound by the FDCPA.

2) What motivates the OC's to oblige my request for removing "lates". What do they get?

You need to find a reason. "Gee, I really like you guys and I know I screwed up and I want to do business with you again...what can we do to make this right?". Also, Recovering Attorney has a thing where he sends a letter to an exec at the company along with a check to their favority charity. In short, you need to motivate them...

ps: my family farms in Ia.

Actually, my farm is in Ohio...I'm a refugee from the BK courts.

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Iowa) Doesn't have cool Chrissy Hinde/ Pretenders song like Ohio does.

So, lay it on thick with the "goodwill" letters.

I've already had some taste of that and have had moderate success. I've also gotten the response that it would be unfair to the rest of their clients if they removed OR statutes require that we accurately report you late for 7 years because you were late.

Do I try again right away with GW letter or take another approach?

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Iowa) So, lay it on thick with the "goodwill" letters.

I've already had some taste of that and have had moderate success. I've also gotten the response that it would be unfair to the rest of their clients if they removed OR statutes require that we accurately report you late for 7 years because you were late.

Exactly. Again, this is just for OCs, but, it does work. You just have to be creative and write to the right person. (Note. Yes, the FCRA does say that if they report, it must be accurate. It does not, however, mandate that they report in the first place).

Do I try again right away with GW letter or take another approach?

There's no yes or no to this. "Lates" won't stop you from getting a new mortgage, for example, and hurt your FICO scores less with age. You'll just pay more in interest. So, I guess the answer really is a question...how badly do you need good credit right now?

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