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writeratheart

Disputing Debts on CR - Needing Help! :)

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Hey everyone,


Well, I'm finally at a point where I can focus on getting my credit score where it needs to be. I've downloaded copies of my credit report from the Big 3, but I'm going to need some help going through them.

 

I'm not quite sure how to look at these reports. I have Equifax open right now, and I'm looking at the "Closed Accounts" section. Some of these are showing as Charged-Off or Transfer/Sold. Do I need to do anything with those?

 

When I scroll down, there is a section for "Other Accounts", with "Closed Accounts" under it. These show what I'm assuming to be JDBs: Jefferson Capital LLC; LHR, Inc; LVNV Funding LLC; etc. They all say "Factoring Company Account (debt buyer)" under "Type of Loan". These are also listed under "Negative Accounts"/"Closed Accounts".

 

At the bottom is a section called "Collections". There are three collection agencies listed there.

 

So...any advice on where to start would be really great. Do I need to compare this with Experian and TransUnion? 

 

I'm going to need lots of help with this, but I want to dig in and get it taken care of, so any help is much appreciated! :)

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All I can say is read, read and read. When you go to the forums there are a bunch of pinned topics for newbies, FAQ, etc. They have a wealth of information and will get you started.

Welcome and good luck!

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The 3 bureaus show an area or link for negative or derogatory items.

 

Collections, Charge Offs etc..

 

That's where you begin. There are many factors in deciding how to proceed.

 

1) Age of debts is #1

2) What type of accounts

3) Any merged file issues (other peoples credit showing on your file)

4) Misspelling of your name, wrong address, ss#.

 

You must first evaluate the reports. They give you guide (legend) to use for that.

 

If the items on your reports are under 7 years old you may want to consider either waiting if close to 7 years or attacking the debts first before disputing with the bureaus.

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I would start off with a dispute that says "not mine" to all of those accounts.  

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Okay, now I know which section to look in, thanks. :)

 

Some of them are showing as reported last year, but I know all of these debts are at least a few years old, some of them several years old. And they're all small, which is more frustrating! The information they have is more or less correct. I have one of those addresses that people are constantly messing up. It's a county road, and I wish I had a dollar for every time someone put the road number as an apartment number. They've done that on my credit report, and they've got a country lane instead of a county road. Baffles me why that's so confusing. But they do have my name right.

 

When disputing, should I do this as a letter to the JDB, or online with the bureau?

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Send a letter via snail mail to the credit bureaus for best result.  Definitely update your address.  

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Hey... I am in the infant stages of repairing my credit and I'm sure as I go along I will have a lot of questions.  I already feel such a sense of relief knowing that I'm not alone in this whole thing.  Having a damaged credit score can really make you feel like your in 'no man's land' sometimes.  Thanks for being here!

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You're welcome and good luck to you.  Don't hesitate to ask any questions.  

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