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Veteran New to fixing credit


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Ok guys I'm a newbie so go easy on me. I have challenged several items on all 3 of my credit reports. I am a veteran and when I was discharged in 2008 transitioning to civilian life was a little difficult and I fell behind on bills and couldn't pay some things. Items were sent as collection items and I am currently a student and still cannot afford to pay these items. So far, experian has sent a letter back to me saying they verified the items.

I am curious as to what my next step should be. I found a flow chart here and was wondering, is my next step a 623 letter to experian as I am still waiting for results from the other agencies. Equifax sent a letter and copy of my credit report saying a re-investigation is ongoing for a particular item and has not responded with the other item on the report and looks like it is still on my report. I am new to the jargon of 623 etc letters. I have already typed out a 623 letter to now contact the original creditors. To my knowledge these are the proper steps to take.

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How many accounts have become delinquent and assigned to a CA? Have you received a written letter from a CA yet?

It's hard to give advice based on the information you've provided. 623 may not be the best way for you to proceed depending on the circumstances.

5 total have been sent to a collection agency.

1 is an original creditor

3 are dating back to around 2008.

1 of the 4 though changed the date opened to 2010.

The 5th is a new account that I have no idea about, might be a medical bill bought by a company I really have no clue what it is. I threw a lot of numbers out there that might be hard to follow if you need clarification I can write out with company names I'm not sure how personal information goes here though.

Edited by usnrodrigo
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No personal information goes here--ever. Also, I'm given to paranoia. I have a very deeply rooted belief that agents working on behalf of CAs and JDBs prowl these boards and post bogus/threatening information, therefore I recommend you obfuscate or redact all information that ties you to a particular CA/JDB (replace agency names with fakes, or XXXXX, etc.).

It's really hard to say at this point what I would do. If you haven't received a letter from any of the CAs, you may just want to wait. It can be useful to know if the CAs have been merely assigned to the account, or if the account has actually been transferred from the OC to a JDB. This sort of information would be communicated to you (most of the time) in a CAs first letter.

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I know that you want to get this off your credit, but the purchasers of these debts may be operating on the assumption you are still in the service.

you have to weigh the harm you could do to yourself(ie giving location information to the CRA's, alerting collectors to your non military staus, and perhaps drawing a lawsuit in reply to your actions) against raising your credit score(which could also cause collection efforts to step up).

These are big issues and are basically a minefield so be careful and methodical in how you approach the issues.

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In TX the SOL for them to sue you is four years. So, if you are near or past the SOL, don't pay on the accounts or you will restart the SOL.

The second SOL applies to how long this stuff will stay on your CR before it falls off and that is, seven and a half years before it should drop off. This being from the time you default on the accounts.

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