Deenie

Questions about old debt

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Ok, let me start off by saying I have been REALLY bad with my credit! I went through several years with a "So What" attitude about my credit and now I am paying for it.

That being said, most of the dings on my credit report are old (2+years)... Do I still go on with the DV process? or am I better off offering to pay in full with promise of a delete?

~deenie

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Thanks for the reply! i appreciate all the help I can get. I have read a ton of stuff in the past few days...my brain feels like mush now! ;)

My husband and I have been reading over our reports and we have found a TON of wrong information in them (such as a high balance of over $2mil!!!! :shock:)...gonna read up on all the forms of disputes before we go any further. I want to make sure I do it the right way.

~deenie

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One possible consequence to consider, though, is that once creditors see activity on your reports, they may ramp up collections efforts. NC SOL is three years, meaning they may even try to sue. Just be ready for calls/letters to start coming in if you aren't already being hounded.

If things are pretty quiet at the moment, and you aren't looking for credit right now, you may want to at least consider waiting out the SOL on the big balances, or going gung ho and contacting everyone about settling. Many people have started to repair their credit only to make matters somewhat worse. Have a clear goal in mind, be very specific in any disputes, and try not to use form letters.

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Deenie...Credit can be a scary thing but trust me...you keep reading and it gets easier to learn. Then it's not so scary anymore. All the stickies at the top of each forum are good reads.

When I started....I got a big poster board and made 3 seperate columns (each column for a CRA) Then I listed all the collection tradelines, amounts, account numbers, etc....it was a lot easier to see them all laid out on one big board instead of sifting through hundreds of papers.

As I disputed stuff or deleted stuff...I made notes on my poster board. As stuff got deleted....I highlighted.

Like Alva said...I would think hard about the high balance stuff. It's something worth listening to. Disputing stuff alerts some creditors.

When I started....b/c I didn't know alot....I just started disputing basic stuff like wrong names, wrong addresses, employments, etc. I waited to get the results back. That way you kind of get a feel for working and sending disputes and how the CRA's work.

Good luck!

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