NEWBIE -TAKING A STAB AT REPAIRING CREDIT DIY STYLE :)

[abstruse 10]

 I am a new here. I already posted in one of the forums ( WHILE YOU ARE IN DEBT VALIDATION Q AND A) regarding Portfolio Recovery’s response to my DV letter tho. I stumbled upon this heaven-sent website while researching about the information PRA sent me.

 

I thought I’d introduce myself and give you a little bit of a background about my situation. I am a single Mom. I was denied a car loan a couple of months ago. That’s when I decided to pull up my credit reports and this time to finally face my fears and do something about it. The last time I pulled my CR was in 2011 through the Annual Credit Report. Oddly enough, I still have copies of those. There were just too many items on the report that I just buried my head in the sand.

 

I had some personal and financial setbacks in the last few years (who hasn’t?)– from a bitter divorce to years on unemployment. I had very limited resources and a roof over my son’s head and food on the table were far more important than paying off the bills. Recently, I got a new job but I need a reliable car to get around. I can’t keep putting money on my old car. I am looking to get back on my feet and taking responsibility for my financial obligations one baby step at a time.

 

I did some research and started sending out DVs to CAs. I want to make sure that if I am going to start paying, I am paying the right CA so I don’t get screwed. I decided to not bother with any tradeline that will be dropping off in 2014. I read that the closer they are to dropping off the report, the less impact they have on the credit report. Some of the items below, I know for sure are valid but are definitely past the SOL in my state. However, majority of the items listed below, I am unsure of or the amount because it is different than what I remember.

 

My plan of attack was as follows:

1.       Send DVs (CERTIFIED MAIL RETURN RECEIPT of course)

2.       If CA response with proper validation, PFD.

 

I initially sent DVs to CAs with the low balances first. I figured if they properly validate, it will be financially manageable to PFD them. There were 6 accounts:

 

1.       CREDIT MANAGEMENT x1 – RESULT: NO RESPONSE YET. CREDIT REPORT SHOWS ITEM IS DISPUTED

2.       ENHANCED RECOVERY x1 – RESULT: VALIDATION SENT, BUT TRADELINE REMOVED. (thank you!)

3.       ENHANCED RECOVERY x1 – RESULT: NO RESPONSE YET

4.       FIRST NATIONAL COLLECTION x1 – RESULT: NO RESPONSE YET. TRADELINE DELETED (thank you!)

5.       CREDIT COLLECTIONS x1 - RESULT: NO RESPONSE YET. TRADELINE DELETED (thank you!)

6.       CREDIT COLLECTIONS x1 - RESULT: NO RESPONSE YET. TRADELINE DELETED (thank you!)

 

I don’t know why the tradelines were deleted but I am not going to complain – just hoping that they stay off for good.

 

Last week, I sent DVs to the next batch of CAs. These accounts show balance of more than $300. Including one for a medical bill from a hospital that was supposed to be charged to the hospital’s charity care. I also sent the hospital a certified letter with copies of my unemployment history because at the time the service was rendered I was unemployed and uninsured. My household income as also below 250% of the poverty line, which according to their charity care & discount policy, will be deemed full charity.

 

1.       MIDLAND FUNDING x1 – RESULT: NO RESPONSE YET.

2.       AD ASTRA x1 – RESULT: NO RESPONSE YET.

3.       PORTFOLIO RECOVERY x1 – RESULT: VALIDATION RECEIVED – CORRECT NAME. WRONG LAST 4-DIGITS OF SSN. This was the topic of my first post in the forum: WHILE YOU ARE IN DEBT VALIDATION Q AND A

4.       COLLECTIONS CONSULTANTS (HOSPITAL BILL) x1 – RESULT: NO RESPONSE YET.

 

 

If anyone has any advise, suggestions, recommendations on how I should be handling my journey to credit collections freedom, please, please, please feel free to let me know.

 

Currently, my EXPERIAN & TRANSUNION score is 542. Equifax is 555.

 

I will keep you guys posted on any developments in the hope that my experiences will also help.

 

Thanks for reading.

 

Abs

 

 

***EDITED: CROSSED OUT THOSE THAT ARE EITHER OFF/HAVE RESPONSE THAT THEY ARE COMING OFF MY CR

[admin 899]

@abstruse - I think you're doing a great job so far.  Have you tried disputing with the credit bureaus?  If you get no more response from the CAs, that's what I'd do next.  

 

And WELCOME!

[abstruse 10]

T@admin - thank you! I saw the flowchart and realized I should have been disputing with CRAs too. I will definitely do that if I don't hear back from the CAs.

What about the OC tradelines? Should i dispute those with the CRAs?

[lionhunter 78]

@abstruse - 

 

What about the OC tradelines? Should i dispute those with the CRAs? 

 

Most definitely!  If you need some sample letters - here are some you can tailor to fit your needs - http://www.creditinfocenter.com/forms/

[abstruse 10]

@lionhunter - Thank you for the link to the sample letters. I was searching for them.

 

I have a couple of questions:

 

What reasons should I give when I dispute with the CRA for valid debts (OC) but have erroneous/missing information? Invalid DOFD? Invalid balance? 

 

OR Do I just go ahead and dispute all the negative TLs regardless if they are valid or not, with "NOT MINE. INVALID BALANCE. INVALID DOFD" ?

[lionhunter 78]

@abstruse - yes you will use "not mine" first.  Not sure if you saw this article but if you read through it, it gives all the reasons you can use.  http://www.creditinfocenter.com/repair/Repair.shtml

[admin 899]

Never late

Wrong balance

Dates of lates are wrong

date account open is wrong.  

Balances are incorrect

[abstruse 10]

@admin @lionhunter - I mailed out my CRA disputes today. YAY! crossing fingers they delete at least some. 

 

I also sent out a letter to a CA in response to the validation information they sent that has the wrong last 4 of SSN. I pretty much told them that it is not my account and i refuse to pay it and stop reporting it on my credit report. 

 

I have a question, I pulled a fresh copy of my Experian report and the CA who has sent me the validation has not updated the status to "DISPUTED". Are they required to update the status to "DISPUTED"?

 

Credit Management updated the status to DISPUTED even if they have not responded yet. It's been over a month.

[lionhunter 78]

Not sure if they are 'required' to list it as disputed but I did notice it took more than a few months for that to appear on an account I was disputing.  Not sure how often that is updated but I would say to check again in another month or so.

[abstruse 10]

I found these on http://www.creditinfocenter.com/eBooks/PoorMansClassActionLawsuit.shtml

 

Collections Agencies are required to report a debt is disputed (FDCPA Section 807(8). If they don't it's a $1000 fine.

 

If CAs don't validate the date and still continue to report to CRA (FDCPA Section 809( FTC opinion letterCass from LeFevre) the fine is up to $1,000.

 

I will wait another month to see if the statuses have changed. 

[abstruse 10]

@lionhunter @admin - just an update. I received a letter from a CA today as a response to my DV a few weeks ago, telling me that they are stopping all collection efforts and will be notifying the CRAs.

 

YAY! little victories one baby step a time.  

[lionhunter 78]

Yea!!!   

[abstruse 10]

@lionhunter a good start to the New Year. Midland will cease all collection efforts as a response to my DV. YAY! 

[admin 899]

Excellent.  Let's see if we can get them removed from your credit report.  

[abstruse 10]

@admin they did mention on the letter that they will be notifying the 3 CRAs to remove the account from my file. I will check my credit reports again in 2 weeks.

[admin 899]

[abstruse 10]

@admin @lionhunter I have a question: If the OC tradeline no longer shows on your credit report, can the CA report it still?
 

I have a Capital One account that was set to drop off my CR on 4/2014 (EXP/EQ/TU). I checked my credit reports today and Capital One is gone but the CA (LVNV) is still reporting it. Should I dispute this as outdated? 

 

OH and btw: myfico score is 591 (based on EQ).

 

Score from EXP is 555 and from TU is 649.

 

YAY!!!!

[lionhunter 78]

@abstruse -  

 

@admin @lionhunter I have a question: If the OC tradeline no longer shows on your credit report, can the CA report it still?

 

Yes. 

[abstruse 10]

@lionhunter I received a letter from HSBC telling me that they have received my CRA dispute but that the account has been sold and any inquiries regarding the account must be directed to the the JDB.

 

Does this mean HSBC will remove their TL? Supposed to drop off next year.

[abstruse 10]

@lionhunter @admin Our car needed repairs so we went to out mechanic on Saturday and received a $780 quote to fix whatever was wrong. So we said we will have to come back and see if we can afford to pay for it - the car needed smog ($60) and registration is due soon ($90). Total amount would be enough for a d/p on a car we thought.

 

I know I have been working on getting the bad stuff removed from my credit report - but I was still very anxious when we decided to go to a dealer. Personally, I would have wanted to wait a few more months to have a shot at at least a better APR. But with the risk of a car breaking down and not being able to go to work, or worse, car catching fire while we're driving, I agreed to go.I was expecting the APR to be up there in the low 20s. 

 

We were approved!!! 10.41% APR. WOOHOO!!!

 

I also realize that making payments on time with this loan will help my credit. 

 

Thank you to this forum and the wonderful and ever helpful admins & members, I was approved for a reliable car, 2 months after I was denied one due to my credit. 

[lionhunter 78]

@abstruse - that is great news!  

[need780plus 0]

I have sent all of my dispute letters requesting verifiable proof for each negative item. But i then received a letter from a creditor stating the CRA contacted them and they wanted to know why am I disputing the item. Should I ignore this letter? I am not asking the creditor to verify the account but the CRA's.Should i just wait for my 30 days to see if the items are removed from my credit file?

I followed the steps from here:

 

http://thinkbigent247.wix.com/fixmyowncredit

[need780plus 0]

Can anyone verify if this is true?

 

 

The credit bureaus are required by law to have a copy of that same verifiable proof in their files prior to reporting on that particular account. They are the agencies that are reporting your information to underwriters and Loan Officers....and Banks and so forth not the creditors. Under the FCRA 15 U.S.C. 1681.....the Credit Bureuas need to provide you a copy of verifiable documentation if it is requested by you the consumer.

We have NEVER RECEIVED a single copy of "verifiable proof" on even one single client account that we have requested from the Credit Bureaus.......NEVER!!!! 

Obviously, They do not have any verifiable proof on file for any accounts! Furthermore, all Credit Bureau reporting is done electronically. But that is NOT what the law says must be done.

 

http://thinkbigent247.wix.com/fixmyowncredit

[need780plus 0]

Also this was a Do-It-Yourself kit