incognito

!!! WAR Against CRA, OC and CA - Things We Do Not Know & Need Help On !!!!

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Today is July 3rd, 2007 and I have decided to wage a WAR with Credit Buereau's, Original Credit and Collection Agency and need all of your advice real life example and expert opininion.

Many of us here are newbies and are unsure of things. So I figured I start a thread that will help answer some of the question that normally do not get addressed. Please feel free to add your suggestion and feedback.

My Background:

I see that most of my Original Creditors have been replaced by Collection Agencies and Junk Debt Buyers like Pinnacle, Midland, Palisades and LVNV Funding. All of these are scheduled to fall off my credit report by mid 2009.

Question #1 SOL Related

My guess is that the SOL on my debt expired sometimes in 2006. Is this how SOL works? and what happens to us once we are outside SOL. Does this mean that OC and CA can no longer sue me and if they contact me I can send them a cease and desist letter?

Question #2 Debt Validation Related

I have read in this forum that Debt Validation is a very effective process that should be levraged against Collection Agencies. Can I still ask for DV or have I passed the DV alloted time frame? as I recall reading here that one has to initiate a DV process within certain number of days of notification by CA. As for me Collection Agencies have been reporting negative on me for years and since they did not have my correct address so no communication ever took place between me and them. So am I still eligible for a DV?

Question #4 Process Flow

Dispute with CRA if CRA verfies the debt then what should our next step be besides DV?

Edited by incognito

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Transunion via mail.

I got a form letter stating that the inquiries stay for 2 years.

Sluggish about it, but I have letters I need to fax to the ppl who

pulled there.

Equifax I disputed by mail. Those all came off that I disputed, plus a couple more that i didn't.

No inquiries on EX so don't know how they operate.

Edited :to state that I have been checking and updating True Credit, but not as often as others here. I haven't seen a thing

fall off yet.

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Changed my address and phone number so CRA, OC and CA could not track me down. Basically went into hiding.

I live in IL and the SOL in IL is 5 years. My guess is that the SOL on my debt expired sometimes in 2006.

If your creditors can prove you were avoiding service, or hiding as you put it, the SOL is tolled until they find you.

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In addition to the SOL tolling, it's common for IL to rule credit cards are written with a 10 year SOL.

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Thanks guys. I appreciate the heads up on Tolling rule and I hope that does not apply to me here as I was not like hidinging in the cave or something.

It's just that people move and phone numbers change. I don't think there is a rule that says you should always check in with your Collection Agencies before you move. Hahahahah. Is there any way for one to tell if there are facing Tolling?

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I started on credit fixing journey about 20 months back. My scores were in low 500 and today I checked my FICO and glad to see that my 3 scores are 780 TU, 750 EX & 710 EQ.

This forum was a great help to me and people here were more than welcoming. Here is few things I learned.

1. Do not give up

2. Commit yourself

3. Fixing your credit will take time and you have to invest time into this by reading threads and learning from it.

4. Add yourself as a authorized user if you can

5. DV works and keep hitting them with every angle

Good Luck.

Edited by incognito
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That's nice but of little use to others. Do you mind sharing some of the things that you did? What worked and what didn't? What the results were?

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The age of your debts helped you a lot. Those facing more recent issues will have a tougher time of it.

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I can only tell you what worked for me. I think I was in the low 500's over a year ago. Around 710 now.

I don't buy credit reports anymore. When I started, I bought one report from each of the CRA's. Then I get my free one once a year. I make sure I space them all out. You get report numbers from each one....so that keeps you going. Those credit monitoring services are crap. IMO

I made a list of all my debt.....I had 22 negative tradelines on my CR.

I started with simple stuff first to get a hang of it. I disputed addresses, names, etc... I waited and got those deleted which worked good for me. I also put a FA on mine.

Then I disputed inquiries. Worked pretty good. (but of course this was over 1 year ago)

Then I started with the tradelines.

\

I listed them all from oldest to newest on a posterboard. I DID NOT MESS WITH CAP 1. I had all the nice ones like LVNV, NCO, Debt Recovery, and Midland. I researched every single one of these companies......on this site and Bud Hibbs site. Plus I checked with the BBB. I also read the rip-off report.

I got the feeling from reading previous people..how to approach each one. that's the secret to all of this.....research. Know the enemy.

I attacked and punched them hard. I 1-2 punched every single one of them. Most of mine were SOL. I wrote tons of letters.....everything from goodwill (to local doctors and companies) to threaten to sue letters when they wouldn't validate. I did several pay for deletes with local companies. They were pretty easy to work with.

Eventually most fell off...either due to me or time.

Also, one of the drawbacks.....I was sued by Debt Recovery. The bills were medical and they were recent bills....disputing them was stupid. As soon as I sent them a DV.....they sent me back a lawsuit. haha I eventually agreed to pay them...if they deleted and dropped the suit. They did and deleted the tradeline off my CR's. So I was lucky they didn't lie. I had bumps...

That's what happened with me. YMMV

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Though age of baddies can help but I was able to get rid off all baddies prior to drop off date. I sent out tons of DV letters, please note that I was DV'ing 5 years after the debt was written off. So I was skeptical of the success. 3-4 of the baddies came off easily through DV. All I was asking for was them to show me that I owe them what they say I owe them.

I also started disputing with CRA by using different reasoning like "Too Old" "Balance Incorrect" etc. The ones that responded to DV - I filed a complaint with BBB. Either BBB or disputing with CRA help scare few of them like Pinnacle and Palisades and they dropped off or withdrew there reporting. My toughest one was Midland and they will not budget but somehow last week they were gone too. Even though they were supposed to be on file till Dec, 2009. You won't hear me complaining. During my credit clean up process I kept a active membership with True Credit and updated my report on a daily basis to see if I was making progress. High credit score does not define us but I have to tell you having a 780 FICO feels really good.

Now that I have gotten a second chance with my credit, I have promised myself the following:

I will do my best not to use credit cards.

If I use credit card then I will pay in full in 30 days.

I will not let anything ruin my credit again.

I will monitor my credit on a regular basis to prevent any fraud.

I will use my credit wisely and build it further and use it to start my own business.

Hope this helps and I wish best of luck to everyone that helped me or is thinking about fixing his/her credit.

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