vickinicole

VN- My Credit Repair Blog

Recommended Posts

When you're looking at your CR's, before jumping to any conclusions, you want to check to see when your fall-off date is. You said that you opened this account in 2001, correct?

They're claiming that the account is going to come off in 2008.

7 year SOL would bring the account opening date to 2001, wouldn't it?

So yes - this is your account.

Share this post


Link to post
Share on other sites
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?

You do not send a request for investigation per the FCRA to the CRA's - you send it to the data furnisher. That data furnisher would be Receivables Performance. You must have already disputed with the CRA's and you must provide ample reason for the data furnisher to comply with your request.

Share this post


Link to post
Share on other sites
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.

To be honest, if you are this confused over the situation you may want to spend a bit more time learning and researching before you jump in head first. You need to understand the logistics of credit repair, why things need to be done the way they need to be done and how you need to do it.

Share this post


Link to post
Share on other sites

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.

This is an incredibly, incredibly important step in the credit repair process - one that you may want to spend a bit more time on. If you don't fully understand the way a CR is laid out or the data contained within it, you can't properly go through the dispute process. Why? Because using your Fingerhut account as an example...Simply by going through the information that you posted, it was clear to me that the DOFD was in 2001 based upon the fall-off date of 2008.

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

Again, really important. If you don't understand the basic content of what is there to protect you, your repair efforts may be futile. Understanding who is governed by what law and what rights you are afforded is crucial.

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.

I don't know many people who make trips down to the courthouse on a monthly basis. :)

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;

B) 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.

Depends on how you look at it. Are you attempting to clean up your CR's, including having TL's removed that you know are legitimately yours? Or are you reviewing your CR and going through to see what you do and do not recognize? If the SOL is not up on an account, sometimes it's better to be a bit cautious. If the CA isn't bothering you, sending them a DV letter might open a whole mess for you.

And also, I think it's really important for people to understand that form letters found on the internet should be used as a guide to writing your own letters. If you don't understand the content of the letter that you're sending out, don't send it.

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.

Not complete information here. In order to request an investigation with the data furnisher, you need to provide them with certain information to support your request. This is clearly stated in the FCRA. Without clearly listing what information you are disputing, the exact reasons why you are disputing it and any supporting documentation that you may have, the data furnisher can deem your request frivolous and refuse to investigate. They can refuse to investigate if you do not send them documentation supporting your request - so when requesting an investigation with the data furnishers, it's important to examine your reasoning for loopholes before you proceed forward.

The credit repair process is a long and frustrating one. We all have stumbled somewhere along the line and have sent out the wrong type of letter to the wrong person, etc. But I can't stress how incredibly important it is that you take the time to inform yourself and gain as much knowledge as possible before jumping in head first. ;)

Share this post


Link to post
Share on other sites

I've read and re read the laws, this form and posted a hundred questions and still not understanding this process. It's possible I'm just not capable of comprehending this process. I think Credit Repair Agency's were made for people like me.

I'm trying to clean my credit report including having negative TL's removed, not just remove items I don't recognize.

I suck at writing letters of any kind so I always use form letters, even in just my regular every day business. I change a few words here and there. I don't understand why it's so bad if they recognize it as a form letter. Don't they still have to abide by the rules and laws?

Ok so I need to request an investigation from the data furnisher on my Recievables Performance account, my reasoning being that I didn't open any accounts in 2007, I don't own any joint accounts. How do I provide documentation or proof of those two statements?

This is an incredibly, incredibly important step in the credit repair process - one that you may want to spend a bit more time on. If you don't fully understand the way a CR is laid out or the data contained within it, you can't properly go through the dispute process. Why? Because using your Fingerhut account as an example...Simply by going through the information that you posted, it was clear to me that the DOFD was in 2001 based upon the fall-off date of 2008.

Again, really important. If you don't understand the basic content of what is there to protect you, your repair efforts may be futile. Understanding who is governed by what law and what rights you are afforded is crucial.

I don't know many people who make trips down to the courthouse on a monthly basis. :)

Depends on how you look at it. Are you attempting to clean up your CR's, including having TL's removed that you know are legitimately yours? Or are you reviewing your CR and going through to see what you do and do not recognize? If the SOL is not up on an account, sometimes it's better to be a bit cautious. If the CA isn't bothering you, sending them a DV letter might open a whole mess for you.

And also, I think it's really important for people to understand that form letters found on the internet should be used as a guide to writing your own letters. If you don't understand the content of the letter that you're sending out, don't send it.

Not complete information here. In order to request an investigation with the data furnisher, you need to provide them with certain information to support your request. This is clearly stated in the FCRA. Without clearly listing what information you are disputing, the exact reasons why you are disputing it and any supporting documentation that you may have, the data furnisher can deem your request frivolous and refuse to investigate. They can refuse to investigate if you do not send them documentation supporting your request - so when requesting an investigation with the data furnishers, it's important to examine your reasoning for loopholes before you proceed forward.

The credit repair process is a long and frustrating one. We all have stumbled somewhere along the line and have sent out the wrong type of letter to the wrong person, etc. But I can't stress how incredibly important it is that you take the time to inform yourself and gain as much knowledge as possible before jumping in head first. ;)

Share this post


Link to post
Share on other sites

OK I think I finally understand what you are saying to do with this Recievables Performance account. Please tell me if this is correct:

1. Dispute the account with each of the 3 CRA

2. Request an investigation with Recievables Performance. My reasons is I don't believe the account is mine. It could possibly be a case of identity theft. The reason I believe that is

1. I have no retail accounts

2. I have never opened a joint account.

3. I opened no new accounts in 2007, nor was I delinquent on any active accounts in 2007.

Is that correct?

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!

Share this post


Link to post
Share on other sites
I've read and re read the laws, this form and posted a hundred questions and still not understanding this process. It's possible I'm just not capable of comprehending this process. I think Credit Repair Agency's were made for people like me. I'm trying to clean my credit report including having negative TL's removed, not just remove items I don't recognize.

It's really easy to get discouraged, especially when there is a crazy amount of information being thrown in your face. Of course it would much easier for us all to rely on a third party to do our credit repair for us, but the truth and the statistics show that these credit repair firms do nothing that you can't do yourself - they just charge you an arm and a leg to do it.

That being said, there's always a debate on the forums as to whether or not people should be so aggressive when trying to remove TL's that they know are theirs and that they legitimately owe. Especially if these debts are within SOL. Whenever you aggressively attack a debt that is within SOL, especially if you know full and well that the debt belongs to you, you're opening up a door for a smart CA to come after you. If they aren't reporting inaccurate information, they aren't employing improper collection practices, and they're doing nothing but reporting to the CRA's...You could "wake the sleeping giant" as some call it - and make them realize that they can still collect on these debts and still legally come after you. It's a gamble that has to be pretty well thought out on your behalf.

I suck at writing letters of any kind so I always use form letters, even in just my regular every day business. I change a few words here and there. I don't understand why it's so bad if they recognize it as a form letter. Don't they still have to abide by the rules and laws?

The problem with sending out form letters is that if the sender doesn't understand the context of the letter that they're sending, they could potentially send out the wrong letter and/or expect the wrong response. Case in point - people attempting to DV an OC. Case in point - people sending an investigation request per the FCRA to a CRA.

Ok so I need to request an investigation from the data furnisher on my Recievables Performance account, my reasoning being that I didn't open any accounts in 2007, I don't own any joint accounts. How do I provide documentation or proof of those two statements?

You posed a good question but it actually has a pretty simple answer. If you never had this account, if you've never had a joint account, then how would you have any documentation to show that it is or isn't yours? In a situation like this where you believe that it may be a case of identity theft, your whole reasoning revolves around the fact that you need documentation evidencing your ownership over the account.

Share this post


Link to post
Share on other sites

That totally makes sense now.

I am really grateful that you are taking the time to explain these things to me because everytime I think I completely understand the process and what action I should take, it turns out I am wrong.

That's why I try to clarify a 2nd and 3rd time so that I am not misunderstanding.

Can you clarify something about dates on my credit report. What is the difference between Date of Last Activity and Date Major Delinquency First Reported? For example: If I have accounts where the date of last activity is in 2001, but the DMDFR is 2006, which is the SOL date?

I also appreciate you explaining why some people feel it's best not to wake the sleeping giant. That is definitely something I am going to think about a little harder. I really need to get my credit repaired this year for several reasons that I consider important.

1. I am a fulltime college student and as of next year Financial Aid has informed me that I will not be eligible for student loans because I've reached the cap. I will have to find alternative ways to fund my education.

2. There is a medical procedure that I want to get next year that isn't covered by my insurance so I may need to get credit for that and would like a decent rate.

3. I want to buy a condo next year if the housing is right. Again I would like a decent rate.

Alot of my future plans and life in general depends on me being able to complete the majority of this credit repair process this year. I know that in many cases it takes longer than that, but I want most of it repaired by then. After that will be mostly upkeep, maintenance.

Now as to the debt that is within SOL that is mine, they have relatively low balances. Should I attempt to negotiate a reduced PFD on those since I want to repair my credit. I guess that would still "wake the sleeping giant", but I've gotta do something on those accounts.

I just looked at my Equifax report again and it looks like there are 7 accounts that are within SOL and are mine;

  1. First Premier (charge off amount $487) - date of last activity: 06/2006 - date major delinquency first reported: 08/2006
  2. Genesis Financial Solution ($202) - date of last activity: 08/2001 - date major delinquency first reported: BLANK
  3. Household Credit Services (charge off amount $300) date of last activity: 06/2006 - date major delinquency first reported: 12/2006
  4. Household Credit Services (charge off amount $287) - date of last activity: 06/2006 - date major delinquency first reported: 12/2006
  5. MedClear Inc ($356) - date of last activity:12/2005 - date major delinquency first reported: 04/2007
  6. Midland Credit Management (High Credit: $484, Amount Past Due: $870) - date of last activity: 12/2001 - date major delinquency first reported: BLANK
  7. Midland Credit Management (High Credit: $453, Amount Past Due: $453) - date of last activity: 06/2001 - date major delinquency first reported: BLANK
  8. Healthcare Collections (Balance Owned: $335) - Date of First Delinquency: 01/2006 - Last payment Date: N/A, Comments: Medical

Should I leave the ones with a 2001 date alone?

The problem with sending out form letters is that if the sender doesn't understand the context of the letter that they're sending, they could potentially send out the wrong letter and/or expect the wrong response. Case in point - people attempting to DV an OC. Case in point - people sending an investigation request per the FCRA to a CRA.

Share this post


Link to post
Share on other sites
That totally makes sense now. I am really grateful that you are taking the time to explain these things to me because everytime I think I completely understand the process and what action I should take, it turns out I am wrong. That's why I try to clarify a 2nd and 3rd time so that I am not misunderstanding.

We've all been in your shoes - starting our credit repair journey, being totally confused, having no idea where to go and feeling overwhelmed by all of the information that you can find. That's why this site is so great - you've got people out there who have been through what you're going through and can share their successes and their failures. Keep going - you're doing a great job so far...And keep your head up! You'll be fine!

Can you clarify something about dates on my credit report. What is the difference between Date of Last Activity and Date Major Delinquency First Reported? For example: If I have accounts where the date of last activity is in 2001, but the DMDFR is 2006, which is the SOL date?

SOL is based on the DOFD, or your Date of First Delinquency. If your DOFD is in 2006, your CR's should list that the account is falling off at some point in 2013?

I also appreciate you explaining why some people feel it's best not to wake the sleeping giant. That is definitely something I am going to think about a little harder. I really need to get my credit repaired this year for several reasons that I consider important.

1. I am a fulltime college student and as of next year Financial Aid has informed me that I will not be eligible for student loans because I've reached the cap. I will have to find alternative ways to fund my education.

2. There is a medical procedure that I want to get next year that isn't covered by my insurance so I may need to get credit for that and would like a decent rate.

3. I want to buy a condo next year if the housing is right. Again I would like a decent rate.

Alot of my future plans and life in general depends on me being able to complete the majority of this credit repair process this year. I know that in many cases it takes longer than that, but I want most of it repaired by then. After that will be mostly upkeep, maintenance.

Everyone has reasons for wanting to move forward with their credit repair. Whether it be purchasing a new home, financing a car, education...We've all got our reasons and they're important to each of us individually. Within 1 year you'd be amazed at the things that you can do to restore your credit. The process of repair and rebuild never seems to end and it's important to make sure that you're working on both aspects.

Now as to the debt that is within SOL that is mine, they have relatively low balances. Should I attempt to negotiate a reduced PFD on those since I want to repair my credit. I guess that would still "wake the sleeping giant", but I've gotta do something on those accounts.

If you've got the money to pay the debts, I would proceed forward with the DV process. When information comes back to you, then offer up a PFD letter to them.

Should I leave the ones with a 2001 date alone?

That's totally up to you. Since they're most likely going to be falling off this year, if you can wait it out then I would... ;)

Share this post


Link to post
Share on other sites

Can someone take a look at this report I finished today and let me know if I am taking the correct actions before I send out these letters tomorrow?

Equifax Credit Report Repair Actions

Abbreviations: Date major delinquency first reported (DMDFR); date of last activity (DOLA), date of first delinquency (DOFD), Original Creditor (OC), Collection Agency (CA), charge off amount (COA), Open Account (OA)

Negative Accounts

OC/CA Balance DOLA DMDFR Action Response To Action

  1. Target (OC) (OA) $16 11/2007 BLANK Send goodwill letter to see if they are willing to extend the courtesy of removing the one late from July 2006
  2. Capital One (OC) $2,317 (COA) 04/2001 Blank No action, should be falling off CR 04/2008
  3. First Consumers National Bank (OC) (FCNB Spiegel) $3,108 (COA) 09/2001 Blank No action, should be falling off CR 09/2008
  4. First Premier (OC) $487 (COA) 06/2006 08/2006
    1. Proceed forward with the DV process.
    2. When information comes back to you, send PFD settlement letter.
  5. Genesis Financial Solution (CA) $202 08/2001 08/2008
    No action, automatically falls off CR 08/2008
    SOL verified on phone
  6. Household Credit Services (OC) $300 (COA) 06/2006 12/2006
    1. Proceed forward with the DV process.
    2. When information comes back to you, send PFD settlement letter
  7. Household Credit Services (OC) $287 (COA) 06/2006 12/2006
    1. Proceed forward with the DV process.
    2. When information comes back to you, send PFD settlement letter
  8. MedClear Inc (CA) $356 12/2005 04/2007
    1. Proceed forward with the DV process.
    2. When information comes back to you, send PFD settlement letter to OC.
  9. Midland Credit Management (CA) $870 12/2001 12/2008
    No action, automatically falls off CR 12/2008
    SOL verified on phone
  10. Midland Credit Management (CA) $453 06/2001 06/2008 No action, automatically falls off CR 06/2008
    SOL verified on phone
  11. Midland Credit Management (CA) $3,815 09/2007 08/2008 No action, automatically falls off CR 08/2008
    SOL verified on phone
  12. Portfolio Recovery Assoc (CA) $4,956 10/2001 12/2007 1. One two punch: DV with Portfolio Recovery Assoc, and dispute with all 3 the CRA's first (if the account is on all 3 reports).
    2. Wait for my responses from both
    3. If CRA says it's verified the next step is to request MOV from CRA?
    Note: Do not tell PRA that the account is near SOL. Just because they purchased the account doesn't mean that they don't have to abide by the SOL. If your DOFD was in 2001 and you haven't paid anything to anyone on the account since, the account cannot be re-aged. Therefore, if this CA is reporting a DOFD in 12/2007 when it was 2001, that's an attempt at re-aging. They can purchase accounts and/or reassign them as many times as they want, but that doesn't reset the SOL on the account. The SOL is based off of your DOFD and not when they were assigned the debt. Gets a strong paper trail started.
  13. Receivables Performance (CA)
    Receivables Performance
    PO Box 768
    Bothell, WA 98041
    866-212-7408 $570 N/A 08/2007 (DOFD)
    1. Dispute the account with each of the CRA's as "not mine".
    2. Request that Receivables Performance do an investigation in accordance with section 623 of the FCRA. My reasons are: I don't believe the account is mine. I need documentation evidencing my ownership over the account. It could possibly be a case of identity theft because;
    a. I have no retail accounts
    b. I have never opened a joint account.
    c. I opened no new accounts in 2007, nor was I delinquent on any active accounts in 2007.
    They either need to respond in 30 days with their investigation results or respond in 5 days if they consider your request frivolous.
    If they don’t respond, use that lack of response as leverage for getting them removed from your CR.
  14. Healthcare Collections (CA) $335 N/A, Medical 01/2006 (DOFD)
    1. Proceed forward with the DV process.
    2. When information comes back to you, send PFD settlement letter to OC.
  15. Financial Credit Network (CA) $453 N/A 07/2001 (DOFD) No action, automatically falls off CR 07/2008
    SOL verified on phone

Share this post


Link to post
Share on other sites

Weird....

If you end up suing "Receivables performance"...I'll serve them for you. The city they're located in is the same one I graduated high School from - about 10 mins from where I corrently live :p

Share this post


Link to post
Share on other sites

I am trying to post a question about MCM but there is no place to clik "new thread" I want to follow the proper posting rules but am lost. I find "new thread" in the credit repair section but I think I should be posting in the more detailed area????

Does any of this make sense? if so please tell me how to find and post in the appropriate area. I have looked and looked and it just says clik on new thread.

Any help would be appreciated......

Share this post


Link to post
Share on other sites

well transunion just sent me results of their investigations

and

they DELETED 4 negative accounts from my credit report

that is awesome!!

CAPITAL ONE SERVICES DELETED

MIDLAND CREDTI MGMT INC VERIFIED, NO CHANGE

MIDLAND CREDTI MGMT INC DELETED

SPIEGEL DELETED

TNB-TARGET NEW INFORMATION

MIDLAND CREDTI MGMT INC NEW INFORMATION

RECEIVABLES PERFORMANCE DELETED

Share this post


Link to post
Share on other sites

I had similar issues getting my 3rd report and updated reports. I ran with what I had on my 2 reports, then chose to pickup a service like truecredit which was able to pull my reports for me. I then tried the free service for the one missing and it went through.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.