VN- My Credit Repair Blog

[vickinicole]

Hey guys,

I'm Vicki. I live in Arizona.

When I first came here I had already decided I would use a C.A. like Lexington Law to help me repair my credit but after reading the boards I have been pursuaded to try to do it all myself.

I've tried to do this myself before a couple times and got overwhelmed and quit.

Now with your sticky's for Newbies I think I can make a more organized attempt, so thank you all for those sticky's.

I'm going to continuously update this blog , if possible , and would love to get tips and help from everyone because as I said I do get overwhelmed and I'm not good at writing letters.

So far what I've done;

this weekend I gathered and purchased the supplies (notebooks, tabs, etc..)

Today I tried to get my 3 free reports from annualcreditreport.com but they are saying i recieved TU and EX already and that there is some problem with me recieving the EQ, they said to mail in the request.

I went to freecreditreport.com and got my credit information based on my Experian data as of 1/4/2008.

Credit Profile

Percentage of credit currently available 65.44%

Satisfactory accounts 26 (probably mostly student loans)

Now delinquent/derogatory accounts 0

Was delinquent/derogatory accounts 15

Public records 0

Number of inquiries 15

Debt Profile

Real Estate debt (mortgages) $0

Revolving debt (bank and retail cards) $4,528

Installment debt (fixed payment loans) $58,960

Other debt $0

Collection debt $1,023

Your Approximate Total Debt $64,511

MY FIRST QUESTIONS:

I am sort of unsure of what some of that means. Particularly "collection debt" versus "revolving debt". Whats the difference? Why are the totals different?

My PLUS SCORE at Experian is 572; Last year my FICO credit score was below 500.

I haven't gotten my FICO scores in awhile, there seems to be some sort of problem getting my info at myFICO for my Equifax account. And I didn't want to pay for the other 2 unless I was getting all 3. But i guess I will do that later tonight so I can get this sorted out.

I'm not really sure what I am/should be doing from this point forward. What should I be disputing? I know I have to start writing letters for Debt verification.

There are a few debts that are over 8 years old on there, shouldn't they be off my credit report by now? also there are multiple entries by Midland Credit Management, 4 entries in total i believe. Is that illegal?

They have my name spelled incorrectly on my report what should I do?

How do I dispute the multiple inquiries or have them removed?

They have multiple addresses for me, can I get any of them removed? Should I?

[andbowd]

When you ask for investigation with Credit Bureau they will send a new report. Thats how I get mine free.AB

[vickinicole]

When you ask for investigation with Credit Bureau they will send a new report. Thats how I get mine free.AB

ok great I just asked for an investigation on my Experian credit report.

I guess I will have to buckle down and pay for Equifax and TransUnion cause I don't know what's on their that I should dispute.

[andbowd]

You might consider Privacy Source, you can view your reports online and dispute them. I have the service, its free I think for the first month.

AB

[vickinicole]

I have a question on how to prevent my balances getting higher;

On 12/13/07 I moved out of my apartment complex with 2 1/2 months left on my lease.

They said they wouldn't evict me , but would send me a bill for the balance. The balance including all additional fees, cleaning, Relet

is $2,431 and the letter said I had 7 days to pay it or they would file a claim against my performance bond.

I don't know what a performance bond is. Do you?

It also says they will report the account negatively on my credit.

I don't have $2431 to pull out of my a$$ so it didn't get paid. That was about 3 weeks ago.

Do you think it would help to write the complex and ask for a payment plan so that they wont report me negatively. I can only

afford about $50 - $100 a month. If I try to work out a payment plan, will they still report me negatively?

How can I write them something or some agreement that will have them report me positively while I pay them off about $50 - $100 on time

every month?

I have debts on my report that are over 8 years old, one is from 1999 and hasn't had any activity and if they have reported activity it is

fraudulent?

1. How can I find out if they have reported activity and how can I have that activity investigated for fraud?

My fico score from exquifax in May of last year (2007) was 494.

I looked at the dates and quite a few of my INQUIRIES on my EXPERIAN credit report should be falling off in Feb 2008 so I won't bother with them.

I've tried not to apply for any other credit but I did apply for Lane Bryant a month ago, (DENIED; I wish i kept the denial letter so I could get a free credit report), and my bank (bank of america) tried to apply for me a credit card when I opened my savings account, i was only approved for

a SECURE card, which I declined. I don't need any more temptations even from a secure card.

I have NO credit cards. Well not exactly true, I have a Target Card and a Wal Mart card which I paid off completely, then cut up and

threw away. I didn't close the accounts.

All I have is ONE plain old debit card. No credit cards.

Now what I do have with "credit" so to speak is my Treadmill that I recently purchased from ICON Fitness which is wasting away in storage. They

gave me a $2400 Credit LIMIT which can ONLY be used at ICON FITNESS, and they applied the $1000 treadmill charge to that automatically.

I've paid $100 on it so far. I'm paying $50 a month although the minimum due is $25.

But not only am I paying monthly for a $1000 treadmill I don't use. I am paying for storage to hold it (and some other things). I put it up

for sale on craigslist in Phoenix with no response.

Any advice ANYONE can give will be helpful.

I will keep updating. As I figure out more and do more.

[vickinicole]

I want to post this letter template in case anyone else in the future needs help with writing a letter to an apartment complex after they have left their lease early.

I am mailing this CMRR to my apartment complex today:

[My Address]

[date]

[Apartment Complex ADDRESS]

Dear [Apartment Complex]:

Because of a number of factors including family illness I am currently experiencing financial difficulty which required me to move from my apartment early. I have taken a long, hard look at my situation, and have worked out a very careful budget along with a repayment schedule for all of my creditors.

In order to provide for my necessary household expenses and the payments I am making to my creditors, I am asking each creditor to accept a reduced payment until I am back on my feet again.

Your office recently sent me a final account statement in the amount of $2,431.72. I do not have this amount to pay you at this time. I was told that if this apartment is rented out before 2/29/08, the final bill would be adjusted. In the mean time I would like to make a goodwill effort to pay on this debt.

I request that you accept payments of $75 each month until the debt is paid off.

I assure you that I will incur no new debt obligations while I am engaged in my debt-management program. I am enclosing the first of these payments.

If there is any question about the repayment schedule, please feel free to contact me in writing at [my address].

Sincerely,

Me

[andbowd]

Looks like a good letter, I would keeps those good credit card open an current they will help build your score. check out this site:

http://www.truecredit.com/

helps for 30 days free

Thanks,

AB

[lovebug5]

With regards to your letter..I am assuming that this debt hasn't hit your CR's based upon your post, correct? IMHO, there are a few things that I would be incredibly cautious of if you're planning on sending out this letter. First and foremost, you're not in a "debt management" program. Secondly, whenever you're making payment arrangements with a company on an outstanding debt, you want to ensure that the debt isn't going to come creep up on you in the future. I would amend your letter to state that if they agree to this payment plan, they are also agreeing to accept your payments in exchange for no future reporting on your CR's or collection activity. Without including this information, you're leaving a door wide open for them to throw the debt up on your CR on the basis that you haven't paid the debt in full. I would also obtain from them, in writing, their agreement to adjust your final balance if the apartment becomes rented prior to the date you listed. This information will be helpful to you.

Secondly, if you are unable to obtain your CR's through the annual credit report website, you're going to want to obtain each individual report through each of the CRA's. A tri-merge report doesn't reflect all of the actual data on your individual reports and can be somewhat misleading.

Thirdly, with regards to your reports...

Once you have your individual reports from each of the CRA's, you can start to figure out what the DOFD's on your accounts are - which will tell you whether or not they're within SOL and/or if they can be removed due to age. You can also begin to compare balances, check for inaccurate data, etc. Until you have those individual reports, I would stay away from basing your credit repair on a tri-merge report.

[vickinicole]

No the apartment complex debt has not hit my credit report yet. it has been less than 30 days since I moved out.

Thank you SO MUCH for your suggestions on what to include in the letter. I actually revised the letter and removed all statements pointing towards a repayment plan UNTIL they send me receipts and information on the performance bond company they said they will file a claim against me with. I also removed anything about a debt management program.

When I recieve my response from them I will send out a letter concerning repayment plans which I will begin working on now. I definitely want to use your suggestions.

With regards to your letter..I am assuming that this debt hasn't hit your CR's based upon your post, correct? IMHO, there are a few things that I would be incredibly cautious of if you're planning on sending out this letter. First and foremost, you're not in a "debt management" program. Secondly, whenever you're making payment arrangements with a company on an outstanding debt, you want to ensure that the debt isn't going to come creep up on you in the future. I would amend your letter to state that if they agree to this payment plan, they are also agreeing to accept your payments in exchange for no future reporting on your CR's or collection activity. Without including this information, you're leaving a door wide open for them to throw the debt up on your CR on the basis that you haven't paid the debt in full. I would also obtain from them, in writing, their agreement to adjust your final balance if the apartment becomes rented prior to the date you listed. This information will be helpful to you.

Secondly, if you are unable to obtain your CR's through the annual credit report website, you're going to want to obtain each individual report through each of the CRA's. A tri-merge report doesn't reflect all of the actual data on your individual reports and can be somewhat misleading.

Thirdly, with regards to your reports...

Once you have your individual reports from each of the CRA's, you can start to figure out what the DOFD's on your accounts are - which will tell you whether or not they're within SOL and/or if they can be removed due to age. You can also begin to compare balances, check for inaccurate data, etc. Until you have those individual reports, I would stay away from basing your credit repair on a tri-merge report.

[lovebug5]

You're very welcome. Based upon my experience, it's always smart to make sure that your bases are covered before you agree to do anything that has to do with a debt. You don't want to put yourself into a situation where you're paying them out of good faith and then end up with a pretty big hit on your CR's.

We might all be strangers, but we watch out for one another!

[vickinicole]

Thirdly, with regards to your reports...

Once you have your individual reports from each of the CRA's, you can start to figure out what the DOFD's on your accounts are - which will tell you whether or not they're within SOL and/or if they can be removed due to age. You can also begin to compare balances, check for inaccurate data, etc. Until you have those individual reports, I would stay away from basing your credit repair on a tri-merge report.

Tuesday I recieved each of my CR seperately from each CRA. I am going over them right now and I am very concerned about this collection reported by RECEIVABLES PERFORMANCE MG

Most disconcerning is that it states:

Account Owner: Joint Account

I have never opened a join account with anyone ever.

I am worried about possible identity theft.

The complete account info listed on my Equifax report is following. I have bolded the items that are false or worrisome:

RECEIVABLES PERFORMANCE MG

Agency Address: 10413 Beardslee Blvd

Bothell, WA 980113205

Date Reported: 11/2007

Date Assigned: 10/2007

Creditor Classification: Retail (I have no retail accounts)

Creditor Name: FFPM CARMEL HOLDINGS I LLC

Account Number: xxxXXXX

Account Owner: Joint Account I have never opened a joint account with anyone

Original Amount Owned: $570

Date of 1 st Delinquency: 08/2007 (I didn't open ANY accounts in 2007 whatsoever, nor was I late on any accounts in 2007. I have been very diligent about this in the past 7 months especially)

Balance Date: 11/2007

Balance Owned: $570

Last Payment Date: N/A

Status Date: 11/2007

Status: D - Unpaid

Comments: N/A

Any advice on what to do? I want to DV, but should I include that I am concerned that this is a case of identity theft and that I never had a joint account so that info is innacurate at the minimum??

[lovebug5]

If I were in your shoes:

Dispute the account with each of the CRA's as "not mine".

Go to your local police station and fill out an identity theft report. Although many people would tell you to not even bother, the CRA's may not be so willing to work with you if you're claiming identity theft without the police report.

DV'ing is going to be useless in this situation, especially if you're going the identity theft route. I would request an investigation per Section 623 of the FCRA, provide them with a copy of your police report, explain to them your reasons for believing that this is a fraudulent account, and make sure to clearly state your 30-day deadline in the letter (they have 30-days from the date of receipt of your letter to deliver you investigation results).

Then you're playing the waiting game.

But other people on here who have dealt with more of the identity theft may be able to give you a different perspective - so keep your mind open!

[vickinicole]

I have several accounts on my CR that should be falling off this year. Should I bother DV and disputing any of them?

Here is the info on the accounts that will be past the SOL this year. Again, I live in AZ

FINANCIAL CRDT NETWORK

Agency Address: PO Box 3084

Visalia, CA 932783084

(559) 733-7550

Date Reported: 09/2001

Date Assigned: 08/2001

Creditor Classification:

Creditor Name: PACIFIC BELL

Account Number: xxxXXXX

Account Owner: Individual Account.

Original Amount Owned: $453

Date of 1 st Delinquency: 07/2001

Balance Date: 09/2001

Balance Owned: $453

Last Payment Date: N/A

Status Date: 09/2001

Status: D - Unpaid

Comments: N/A

MIDLAND CREDIT MGMT

Address: 8875 AERO DR , SAN DIEGO, CA 92123 (888) 403-6206

Account Number: xxxxxx

Original Creditor: FCNB/SPIEGEL

Status: Collection account. $4,087 past due as of Apr 2007.

Status Details:

This account is scheduled to continue on record until Jun 2008.

This item was verified and updated on Jan 2008.

Date Opened: 09/2002 (I did not open this account in 2002. I think it was 1998. This is innacurate. If you look at the date of status, it is before 2002. Considering it is falling off this year, should I dispute it's accuracy and DV the company or let it go?)

Type: Collection

Credit Limit: $3,108

Date of Status: 10/2001

Reported Since: 10/2001

Monthly Payment: $0

Recent Balance: $4,087

Last Reported Date: 04/2007

Responsibility: Individual

Recent Payment: $0

[lovebug5]

With the first account you listed, I personally wouldn't bother with it and leave it alone. It's falling off of your report in just a few short months, so why put forth the time and energy to get it off sooner if you don't really have to?

As far as the second account which you listed, the "date opened" information refers to the date which the CA was assigned your debt. They were assigned the debt in 2002, however your DOFD was in 2001 which is why the fall off date is in 2008. And with this one, since it's also falling off this year, I'd leave it alone.

Unless, of course, you have a pressing need to get both of these baddies off of your report ASAP. If not, it may be more worthwhile to let them fall off on their own!

[vickinicole]

With the first account you listed, I personally wouldn't bother with it and leave it alone. It's falling off of your report in just a few short months, so why put forth the time and energy to get it off sooner if you don't really have to?

As far as the second account which you listed, the "date opened" information refers to the date which the CA was assigned your debt. They were assigned the debt in 2002, however your DOFD was in 2001 which is why the fall off date is in 2008. And with this one, since it's also falling off this year, I'd leave it alone.

Unless, of course, you have a pressing need to get both of these baddies off of your report ASAP. If not, it may be more worthwhile to let them fall off on their own!

no pressing need at all. Just was curious if I should leave them alone. Thanks giving me the answer lovebug5, you're awesome

[lovebug5]

You're very welcome. Keep up the good work!

[vickinicole]

How does this sound?

RE: Debt Validation

Original Creditor: FFPM CARMEL HOLDINGS I LLC.

Client Ref #: XXXXXX

To Whom It May Concern:

I recently pulled a copy of my credit reports and found that you had reported an alleged debt that you claim that I owe. Viewing my credit report was the first notice from your offices that I have seen that claim that I owe such debt. Reporting this to a credit reporting agency without notifying me first is in violation of the Fair Debt Collection Practices Act. I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the FDCPA and the laws concerning credit collections in the State of Arizona and request that you comply with the Federal Trade Commission’s guidelines of what constitutes proper debt validation.

Please provide me with evidence that I have any legal obligation to pay you including the following:

• Copies of any signed documentation showing I agreed to pay what you say I owe;

• What the money you say I owe is for and how you calculated the charges;

• Provide a verification or copy of any judgment if applicable;

• Prove the Statute of Limitations has not expired on this account

• Show me that you are licensed to collect in Arizona

• Provide me with your license numbers and Registered Agent

If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days investigating this information and during such time all collection activity must cease and desist.

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

Furthermore, I do not give permission to RECEIVABLES PERFORMANCE, and/or FFPM CARMEL HOLDINGS I LLC and/or any other affiliates associated with RECEIVABLES PERFORMANCE to update, to check, edit, and/or adjust my personal credit information on Experian, Trans Union or Equifax, and/or access my social security number for any purpose other than to remove negative trade lines.

Sincerely,

[lovebug5]

Your letter is a debt validation letter, which may be a complete waste of your time sending out. Since this DV isn't going to be timely, the CA in question has absolutely no obligation to respond to your letter or even open it in the first place. Because the question as to whether or not they ever sent you a dunning letter would be up in the air, even in a court of law, you need to use a method that will deliver you potential results and/or a real violation. And this, my dear, is the reason why I suggested not going through the DV method but going with an investigation instead.

[vickinicole]

Your letter is a debt validation letter, which may be a complete waste of your time sending out. Since this DV isn't going to be timely, the CA in question has absolutely no obligation to respond to your letter or even open it in the first place. Because the question as to whether or not they ever sent you a dunning letter would be up in the air, even in a court of law, you need to use a method that will deliver you potential results and/or a real violation. And this, my dear, is the reason why I suggested not going through the DV method but going with an investigation instead.

I am going to do the investigation as well but want backup with the DV letter in case I am missing something or misunderstanding whether the account is mine or not. We'll see, the worst that can happen is I lose postage fees.

[lovebug5]

I am going to do the investigation as well but want backup with the DV letter in case I am missing something or misunderstanding whether the account is mine or not. We'll see, the worst that can happen is I lose postage fees.

I would be incredibly cautious jumping into this situation and bombarding them with letters, especially if you believe that this is a case of identity theft. A request for investigation per the FCRA will handle anything that a DV letter could bring about (and then some), including providing you with documentation that you will not receive with an untimely DV.

If a CA gets the feeling that you know what you're talking about and you're not just pulling form letters off of the internet, they're more likely to comply.

[vickinicole]

This Credit Repair process is so confusing to me, now I remember why I have quit so many times before. The step I am on now is DV and disputing all negative TL with the CRA. So far no luck. Every item is coming back as verified. Am I doing something wrong?

OK I just recieved a response from Experian saying that ownership of the item is verified as belonging to me. I really have no knowledge of this account as well as others on my credit reports which makes me think maybe I am the one misunderstanding something because they keep coming back as verified.

It doesn't say how it was verified or what information they recieved from the information furnisher.

Here is the debt in question:

MIDLAND CREDIT MGMT

Address: 4310 E BROADWAY RD PHOENIX, AZ 85040

No phone number available

Account Number:XXXXXXXXXXXXX

Original Creditor: FINGERHUT CREDIT ADVANTAGE (I have not opened a Fingerhut account since around 2001. Is this possibly the same account. Why does it say it was opened in 2005? Can the CA do that? How can I get them to delete this as innacurate?)

Status: Collection account. $885 past due as of Apr 2007.

Status Details: This account is scheduled to continue on record until Sep 2008. This item was verified and updated on Jan 2008.

Date Opened:

06/2005

Reported Since:

04/2007

Date of Status:

04/2007

Last Reported:

04/2007

Type:

Collection

Terms:

NA

Monthly Payment:

$0

Responsibility:

Individual

Credit Limit/Original Amount:

$483

High Balance:

NA

Recent Balance:

$885

Recent Payment:

$0

Account History: Collection as of Apr 2007

Your Statement:

I HAVE NO KNOWLEDGE OF THIS ACCOUNT.

Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).

Now Experian provides this additional step to recieve info on how they verified, how should I word a letter to them?

How we verified the information

When you question information on your credit report and tell us specifically why you believe the information is inaccurate or incomplete Do I say it's innacurate because I did not open a Fingerhut account in 2005, please verify that this alleged account is not past the Statute of Limitations?, Experian contacts the source of the information directly by letter, telephone, or through an automated verification system. We ask the source to check their records to verify all of the information regarding the item you questioned, and report back to us within 30 days of the date that we received your request (21 days for Maine residents and 45 days if the investigation is on information in a free annual credit report). Once we receive their response, we will send you the results of the investigation. If we do not receive a response from the source within the required number of days, we will update the item as you have requested or delete the information, and we will send you the results.

[vickinicole]

If I were in your shoes:

Dispute the account with each of the CRA's as "not mine".

Go to your local police station and fill out an identity theft report. Although many people would tell you to not even bother, the CRA's may not be so willing to work with you if you're claiming identity theft without the police report.

DV'ing is going to be useless in this situation, especially if you're going the identity theft route. I would request an investigation per Section 623 of the FCRA, provide them with a copy of your police report, explain to them your reasons for believing that this is a fraudulent account, and make sure to clearly state your 30-day deadline in the letter (they have 30-days from the date of receipt of your letter to deliver you investigation results).

Then you're playing the waiting game.

But other people on here who have dealt with more of the identity theft may be able to give you a different perspective - so keep your mind open!

If I fill out the police report and it turns out that the account is mine, will i be charged with reporting false information?

I am worried that I am misunderstanding the way these accounts are being reported and that they really are mine. I don't want to file a police report while I am still so confused.

[vickinicole]

more confusion;

OC placed account on CR in 2001

accounts are due for deletion in 2008, this year

CA buys debt from OC and places their newly purchased account on CR in 2007

DOES THIS MEAN I HAVE TO WAIT ANOTHER 7 YEARS FOR THE CA ACCOUNT TO FALL OFF?

[vickinicole]

I've been reading this forum over and over trying to get an understanding,

I even went through the trouble of reqriting everything I read under the NEWBIE sections and combined some of the info.

Still not sure I understand everything, here is what I have. If anyone can point out the problems in the following that may be helpful;

CREDIT REPAIR 101 for Newbies

1. Obtain your individual credit reports (CR) from Equifax, TransUnion, and Experian. Don’t use the 3-in-1 report.

a) Insert your credit reports into separate 3-ring binders.

Stamp the CR with your Received stamp and write the date on it.

c) Use a divider insert to separate it from the next one.

2. Read your report until you understand how it works and how things are reported. If you don’t understand something write it down and search it on “The Credit Info Center”. Chances are you will find your answer. If you don’t find it ask.

3. Learn what the laws are in your state regarding Statue of Limitations (SOL).

4. Take the time to read and understand the text of both the FDCPA and the FCRA to fully understand your rights.

5. Don't take initial collection letters sent to you from CA lightly. You must respond to them within 30 days to protect your rights.

6. Learn your local court system and every month go online or down to the court and make sure no Junk Suits have been filed against you. It is possible to have judgments against you and never know a case was filed against you. If you discover that you have a judgment it's time to hire an attorney or go to some type of legal aid.

7. Record Keeping

a) Go through your CR and Highlight the creditors that are your problem.

Use an accordion file to organize your old statements, bank statements, checks in by chronological order up to the most recent statement you made a payment on. If you don’t have statements try and get them.

c) Create a document with three columns. Make 3 copies of this form and put one in the front of all four of your binders. This document is a handy reference and reminder. Write each creditors name in the first column. The next column will be the date you made the last known payment and the final column will be the SOL date.

Note: SOL dates can be a little tricky. For example: let’s say your state's SOL is three years and your last payment was 1/1/2003. Well technically on 1/2/2006 your SOL would be up. However some courts have been known to allow CA and OC up to an extra 180 days. So adjust according to what your local courts allow. If any of your collections are past the SOL, WOW, congratulations your first feel good letters are on their way out.

8. Create Letters

You're going to need a variety of letters. You can find various letters on “The Credit Info Center” and others. You will need the following letters;

a) First check to see if the SOL is up on any of the CA reporting on your CR. If the SOL is up: use a combination DV and SOL letter to cover all bases and send it to the CA (not the OC). Send a dispute (reason: SOL) to the CRA. Make a copy of the letters and insert it into the proper binder.

Next, Debt Validate (DV) every negative tradeline (TL) on each of the three reports. Definition: Tradelines are revolving unsecured accounts from major US banks. The point of the DV process is to create a paper trail with the CA and/or have them cease their collection activity. The DV process is a right under the FDCPA and the dispute process is a right under the FCRA. They both have the same purpose but approach it from different angles. Read up on the "one-two punch" for a more detailed explanation.

1. To DV, send a DV letter to the CA and a dispute letter to the CRA. NEVER use the on-line dispute system for TL’s. Make a copy of your letters and insert them in the appropriate three ring binders separated with a tab.

2. Follow the Mailing Letters process.

c) Your next set of letters will be to any 3rd party CA that has sent you letters. Make a copy of the letters and insert it into the binder labeled "Collections".

9. Mailing Letters

a) Create multiple of the following labels and save for future use as well:

1. Return address labels, Certified Mail labels, Return Receipt labels

2. Credit Reporting Agency address labels

3. Original Creditor / Collections Agency address labels.

Fill out your Certified Mail Return Receipt (CMRR) forms. Make a notation on the green RR card that matches it to the letter. For example: Put the initials EQ-SWL1, which would stand for Equifax – Stillwater letter #1 in the footer of your letter and as a small note on the RR. It makes it easier to sort them when they start coming back.

c) Send these from the US Post Office and be sure to get your receipt. You will get a separate mailing receipt for each letter sent. Note: This entire effort from start to finish, will probably run you from $75.00 - $250.00 in postage fees so keep that in mind as you move forward. It’s a tough pill to swallow but in the long run it will pay for itself.

d) Staple the receipt you get at the USPO to the copy of the letter that you filed in the binder.

10. Receiving Responses

a) In about 7 - 10 days you will start receiving green RR’s in the mail. This is where the coded notation is helpful.

a. Staple the RR you’ve received through the mail to the matching letter alongside the mailing receipt.

b. When the green cards come back, immediately request reinvestigation from the CRA. This does one of three things (if you are dealing with a CA):

1 They don’t validate, and they don’t reply to the CRA. Deletion. You win.

2 They don’t validate, they verify with CRA. Violation. Proceed to next step.

3 They validate accurately, either with or without verifying to the CRA. You negotiate pay for delete in this case. If they won’t PFD, then let it lie. Don’t waste your money getting “settled in full” or other nonsense. It empties your bank account and trashes your credit.

c. They validate inaccurately, You have the right to request an "investigation" from the data furnisher following a verified dispute through the CRA and they are required by law to respond within 30 days or delete the TL, no response, $1,000 penalty.

Follow the steps in this method:

CREDIT REPORTING “METHOD OF VERIFICATION” (MOV)

1. Challenge the listing in the normal way.

2. If verified, with a copy of the investigation result in hand, call the CRA at the toll-free number listed at the top of the report. (If not, you're done, you lucky dog!)

3. Give the report reference number and ask for method of verification per FCRA Section 611(a)(7) .

4. They will have never called the OC (original creditor), but will have relied on a third party database to verify, which they may or may not admit to you. If they can't cite solid evidence like "we called the OC and they verified", ask for OC's phone number.

5. Call OC and ask for the records.

6. If the OC doesn't have them (they will typically tell you that the collection agency has them and they don't keep them), get the person's name and direct line. If they do have them, demand a copy under the new FACTA act.

7. If you are sent records, review them and see how good they are. If they are not conclusive, take the next step.

8. If the OC has no records

o Call the CRA back and tell them the OC has no records.

o Inform the CRA that they need to open another dispute. The new information for the dispute is the name and number of the person to whom you have just called at the OC.

o If they refuse, inform them you will sue for willful non-compliance under section FCRA § 616.

o If they still refuse, send the information via certified letter along with an intent to sue letter. If not, they will give you a new confirmation number (write it down! and the date!). This acts as a new investigation, and the CRA has 30 days to get back to you.

9. If you have written records proving the OC can't back up the negative listing(s) they are reporting on your credit report

o send them registered mail to the CRA along with an intent to sue letter if the account is not removed.

d. Next step. You need to prove the violations are intentional to really get good leverage for a court case. So, you repeat the above steps using a repeat DV letter, get green card, reinvestigate with CRA. Once CA have verified with the CRA twice and have not validated, you have repeat violations. This is enough to get them for willful noncompliance.

In about 25-45 days you will start receiving responses on each and every letter sent out.

1. The ones that come from the CRA will have a copy of your latest Credit Report with their notes and updates. Stamp these with your received stamp and mark the date you got them. Insert them into the appropriate CRA binder. Separate it with an index tab with the label: “CRA updates / responses”.

2. After the initial investigations are complete, look at the now verified tradelines. Are there any discrepancies? Do they all agree with each other? Or does your EX report show a $100 charge off, while your EQ shows a $110? If any do not match, that is good for you. The FCRA requires that all TL be “complete and accurate” and how can they be accurate, if they don’t even match each other? Legal leverage, to be used later.

3. Now, you will DV all of the remaining CA’s and send dispute letters to the OC’s. Include a statement in the DV that states all calls to your home are recorded and that calls to your place of employment are prohibited.

c) Review your 3-ring binders every week.

a. You need to make sure that you're getting information returned to you in the legal time frame required. Make notations on what the legal time frame is in red pen on the letter copies or on the actual credit reports. Having everything in chronological order and at your finger tips lets you back track on things like re-aging an account, or inserting negative TL when a debt is sold over and over and it’s past the SOL, etc.... or nailing a CA for attempting to re-collect on a SOL for example a couple years later.

d) Sometimes a CA attempts to dodge DV’s by refusing to sign for them. When the letter is returned to you, save it to use as evidence later, and then resend it by FEDEX with delivery confirmation.

11. Final Step

Once you count the violations, send CA a fax telling them you are suing them and give statute numbers. This may shake out a few more deletions. Maybe another 5-10%. By the time you get to this point, it should have taken you at about 4 months, and should have gotten rid of about 70% of your negatives.

Time to file suit on the rest. Any lawyer will tell you court is a crap shoot. If you can get a deletion, take it. Don't get greedy.

[vickinicole]

I would be incredibly cautious jumping into this situation and bombarding them with letters, especially if you believe that this is a case of identity theft. A request for investigation per the FCRA will handle anything that a DV letter could bring about (and then some), including providing you with documentation that you will not receive with an untimely DV.

If a CA gets the feeling that you know what you're talking about and you're not just pulling form letters off of the internet, they're more likely to comply.

ok so for now don't DV , Recievables Performance at all.

Just send a investigation request to each of my 3 credit reports citing what I said above in red about that particular account?

If it comes back verified or validated , then do I MOV with the CRA? At any point do I contact Recievables Performance?