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From a newbie: Don't give up! It's slow but surely working


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I'm having great success after reading these boards for a few months. My credit issues were from loaning cc's and lines of credit to a family member, who never paid. So much for doing that again.

Well I've DV'd a ton, sent out some goodwill letters (for a couple that only reported one or two 30 day lates), and am trying to settle with OC's on TWO cards that I have left that are debts not paid (charge-offs though UGH.) Though just by disputing, got TU to delete 3 things right off the bat.

The DV's are for already paid debts from a year to two years ago listed as really late, account closed by credit grantor. I'm currently fighting with a furniture company the relative had furniture from. I did the general DV letter, and got a reply saying: 'we won't falsify info, all the info on the reports are correct, we follow the laws etc. etc.' but they are not furnishing proof. Funny since TU deleted them from my credit report, but they 'verified' with the other two. This company is also in bankruptcy, and the most unorganized company I've ever dealt with.

Could someone please tell me if the new letter going out tomorrow (got an example from this site) is kosher to send or not.

"Inside Texas

123 I am home


February 27, 2007

Ms Blah Blah

Credit Analyst


Re: Account# 1234567

Ms. blah blah,

When I requested that you verify this debt, I also requested you to furnish proof as such. So far, I have no documentation from you confirming that all the reports to the credit agencies are correct. For example: one credit reporting agency deleted my account associated with your company for failure to validate the debt. I have two left that have “verified” it to be correct, but if you are not reporting to all three agencies correctly, you are in violation of the laws in which you are so readily willing to comply with.

Since I have disputed the late reports with the credit bureaus, and you obviously "verified" on two of them, I am very curious as to what kinds of "records" you may have for this account. Under the new FACTA Laws, you are required to conduct an investigation on this account, and I am now requesting it. I am reprinting the legal text from the FCRA for your own benefit so that you are fully aware of this.

<list of all laws here>

I will seek legal action under § FCRA 623 (B) for violations of the FCRA if you do not comply and respond to me with the results of the investigation in 30 days.

In order to clear up this matter, I would like to see, a payment history from your company showing me I was late on these dates for account# 4446541. If you don't respond with the results of the investigation (as is required per the FCRA), I will assume you have no documentation and therefore you were negligent in providing the credit bureaus with accurate information. At this point, you would also be in violation of the FCRA merely for not responding within the 30-day period.

To avoid a lawsuit, I request that you remove my late payments and also the "account closed by credit grantor" from my credit report. Though I am entitled to $1000 for each violation (one for each inaccurate report on my account for each credit bureau), I’m willing to drop the matter should you be able to furnish adequate proof of the lateness of the referenced account. Please correct this listing to “paid as agreed-never late” or furnish proof of your claims. Without either sending me proof of the late payments or correcting the reports to all bureaus, I will be forced to seek legal action and to let the state deal with your federal violations.


Inside Texas

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I'll let the more experienced ones on the board give opinions on your letter, I just wanted to say I'm a newbie too, and it does work, but not overnight!

I found CIC probably 8 months ago, but just visited these forums a few weeks ago!

From just the FREE information on the site, I started my repair process. I'm doing pretty good. Sure, my scores are still in the toilet, but I can see the dawn over the horizon. I have purchased the instant download sample letters CD, and it's been enormously helpful. I plan on getting the other downloadable ebooks, etc, in the near future.

It can not be stressed enough that TIME is the most important factor. You need TIME to build good credit. You need TIME to pay every single bill on TIME from now on. You need TIME to allow the DVs, the disputes to the CRAs, the goodwill letters to work!

This isn't posted to the OP specifically, but any other newbie that comes to this board hoping for a quick fix, or getting discouraged that the score isn't climbing fast enough. xdancex

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Very true, but also depends on how 'in the toilet' your scores are. Mine are hovering right around 580-ish without repairing them a month or so ago. Not great, but not the 500-sub-500 scores I was thinking they were.

I havn't bought myfico.com scores yet, but plan to in the very near future. I actually only have 2/4 green cards back so far, but two are for the settlements on CC's that were CO'd, and one went to the CA NCO. I'm hoping for the delete on that one since I'm dealing with the OC now.

I also just got an unsecured card from, as they call it on the boards, 'Crapital One' for $500 at 0% until 8/2007, then 18.9% and $39 annually. No other hidden charges other than a min $.50 finance charge per billing cycle. High interest rate, but since IM THE ONE paying the bills now, I'll make sure the thing is paid. I also have two other clothing store cards that I was responsible for that were always paid and are still open with $0 balances, so that helps. Going to use my ING savings account to get another secured card to help me out as well, after I get rid of some of the below.

The bad on my CR are/were:

2 c/o's I'm attempting to settle with the OC's on...green card came back from one yesterday, should get the other this week (hopefully.)

4 accounts paid and closed, but very very late. One of them was the furniture company I wrote a letter about; two I'm writing goodwill letters to since I've been on good terms with them in the past; and I'm about to DV the fourth next week.

One collection that should go away shortly.

But yes, it does take TIME and I'm impatient. The furniture store I'm going to write again and send out (tomorrow, have an upper GI to go through in a little while today) and if they don't comply, have to disputew via snail mail. I'd rather be able to do it online, but since I already DV'd once and disputed twice (initial, then again after I got my green card) and they 'verified' twice, I have to go another route.

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