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A few general questions


creditrepairstan
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As you guys know I have started my credit repair. I have a few general questions that I coudln't find the answer to by reading the FAQ or searching the forum. Here they are.

 

1) Date reported on credit report. I have some from closed/charged off accounts that have been reported within a month or two and a few that were reported in 2009. Does that mean the OC stopped reporting to the CRAs on me in 2009 or they just haven't submitted an update since then?  I guess my second question to that is it more likely they don't respond to a dispute on something reported in 2009 than in 2013.

 

2) For those veterans of credit repair what would you say your success rate is dropping accounts on your first try of dispute of "not mine".  I'm going either one at a time or two at a time and spacing them out over a month so I don't unload the CRAs with all of them at once. Is most stuff verified intentionally?

 

3) Also do collection companies typically drop off your report after they are done with you? I've had to have dealt with 30 of them over the last few years yet only two are currently on my report. And those two are the two that were still hassling me until I sent them a cease and desist.  Just curious on that one.

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@creditrepairstan

 

1) Date reported on credit report. I have some from closed/charged off accounts that have been reported within a month or two and a few that were reported in 2009. Does that mean the OC stopped reporting to the CRAs on me in 2009 or they just haven't submitted an update since then?  I guess my second question to that is it more likely they don't respond to a dispute on something reported in 2009 than in 2013.

It just means that was the last activity they have.  What does it say about how long something stays on your report.  When is it going to fall off?

 

2) For those veterans of credit repair what would you say your success rate is dropping accounts on your first try of dispute of "not mine".  I'm going either one at a time or two at a time and spacing them out over a month so I don't unload the CRAs with all of them at once. Is most stuff verified intentionally?

Usually 10% of items falls off on the first round of disputes. 

 

3) Also do collection companies typically drop off your report after they are done with you? I've had to have dealt with 30 of them over the last few years yet only two are currently on my report. And those two are the two that were still hassling me until I sent them a cease and desist.  Just curious on that one.

Sometimes.  Most often they stay on for the full 7 years. 

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@admin

 

Most of which I'm looking at are in the awkward period were they are past SOL but they are still a few years from falling off. I have one account falling off in late 2014 then the rest are about 3 years away from falling off.

 

My next question is there anyway to find out who owns the debt. I've read on here that if a charge off is still reporting a balance it means the OC should still own it. Is there anyway to confirm that as I have a charge off or two with a balance that I'm almost certain was sold. Would that be a reason for deletion?

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@creditrepairstan

 

Is there anyway to confirm that as I have a charge off or two with a balance that I'm almost certain was sold. Would that be a reason for deletion?

 

I'm assuming the entries don't state that the account has been sold or transferred?   Are the furnishers still updating?  Look at the "last reported" dates.

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@creditrepairstan

 

 

I'm assuming the entries don't state that the account has been sold or transferred?   Are the furnishers still updating?  Look at the "last reported" dates.

@BV80

 

The last reported dates are pretty up to date compared to the others. One updated in July of this year the other just a month ago in September.  Neither are marked sold so I'm assuming the OC still has control of them. What is the best way to get these to be removed. I would think the OC will verify pretty quick if I go for a not mine considering they are still reporting.  One with Chase bank is for pretty small amount maybe a PFD?

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@creditrepairstan

 

If they're still updating, they still own the account.  If they had sold it, they would no longer update.

 

All you can do is find a reason for a dispute.  There's no silver bullet.  If they verify your disputes, you can try a PFD, but there's no guarantee they'll agree to it.  Sometimes, we just have to wait for them to fall off.  I know how you feel because I have a couple of entries that I wish would disappear.

 

FYI, the older an entry becomes, the less effect it has on your credit score.  If you have current accounts that are in good standing, that helps even more.

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@BV80

 

Sounds good I will try that. And yes I have a feeling those two will def be harder to get off and may just have to wait the 3 years for them to fall off.

 

Now the opposite of that if an OC has sold an account years back and hasn't reported since 09 does that typically mean they may not even bother to verify with the CRAs or have documentation on the account anymore?

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@creditrepairstan

 

Well, just because the OC has sold the account doesn't mean they don't have any records of the account.   As to whether they would bother to verify it, there's no way of knowing until you dispute.  You might start out with "not mine".  Then go from there.  Hopefully, they won't bother with it.  :-)

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