Question about fixing credit

Rage9 said:
Yes, you'd be surprised how often they have no paper work. If they can't prove you owe the debt they can't collect.

Here the letter I've used in the past:

Sample Letter 9 - Requesting a Collection Agency to Validate a Debt

Make sure your letter states they are not allowed to transfer you debt to another CA or you will sue them as well.
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Seems pretty solid and then you can just negotiate the rest and try to get it removed for settlement / full payment.

Also should I setup a P.O. box for mailing these?
 


Rage9 said:
No, you are wrong. It has nothing to do with contact with the CA. That is irrelevant.

It's 7 years from the date of last activity, which is the last time you paid on it. This can be different by state because some states you can pay on it after it goes in to collection and still get to use the charge off date or something similar.
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I should have said '...and contact with the creditor where you acknowledge the debt'. At least that is how it is in the UK.
 
Jameel said:
Seems pretty solid and then you can just negotiate the rest and try to get it removed for settlement / full payment.

Also should I setup a P.O. box for mailing these?
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I wouldn't negotiate unless they prove they have something. Then and only then. If you're going to negotiate I believe the status you want is "PAID" or is it "PAID IN FULL". I forget, but any less will hurt you.

No need for a P.O. Box, but you should send everything through USPS with Certified Mail with Return Receipt. This is considered enough proof that you mailed a document to the CA or CRA.

In the event they don't reply within a timely window send it again. If you do it a few times it'll show their negligence if you take them to court.
 
quintana said:
I should have said '...and contact with the creditor where you acknowledge the debt'. At least that is how it is in the UK.
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See that's a dicey topic in itself, but as long as you don't pay on it, or sign something that says you acknowledge you owe the debt you should be OK.

Another reason for debt validation like the letter I posted is to get them to only communicate through mail, rather than calling you all times of day. Keeps things more predictable. If you're state allows it, feel free to record any phone conversations as well.
 
Rage9 said:
I wouldn't negotiate unless they prove they have something. Then and only then. If you're going to negotiate I believe the status you want is "PAID" or is it "PAID IN FULL". I forget, but any less will hurt you.

No need for a P.O. Box, but you should send everything through USPS with Certified Mail with Return Receipt. This is considered enough proof that you mailed a document to the CA or CRA.

In the event they don't reply within a timely window send it again. If you do it a few times it'll show their negligence if you take them to court.
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Yeah I meant negotiate if they prove they have something. In any case I know this will be a long process but does your credit score go up as each item gets removed as a reflection?

If the account is set to Paid or Paid in Full will this boost the actual credit score despite it being delinquent for years.
 
Jameel said:
Yeah I meant negotiate if they prove they have something. In any case I know this will be a long process but does your credit score go up as each item gets removed as a reflection?

If the account is set to Paid or Paid in Full will this boost the actual credit score despite it being delinquent for years.
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Well, I don't think it can hurt. It should help a lot. They put the listing there and they can have it changed, don't let them tell you otherwise. If they really want to settle make sure it get it in writing they will change your listing.

Also remember these guys buy this debt for pennys on the dollars so there's a lot of wiggle room, get the best deal you can.
 
Rage9 said:
Well, I don't think it can hurt. It should help a lot. They put the listing there and they can have it changed, don't let them tell you otherwise. If they really want to settle make sure it get it in writing they will change your listing.
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Is there any way for an apartment to tell if you have been evicted? Any actual way? I looked over my 50 pages of credit reports and there is nothing saying eviction.

How do they know?
 
Jameel said:
Is there any way for an apartment to tell if you have been evicted? Any actual way? I looked over my 50 pages of credit reports and there is nothing saying eviction.

How do they know?
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50 pages? Damn son. I'm not sure how they would tell you're evicted unless there is an entry from a land lord and they called them up. Have you had any judgement against you? Pretty easy to look that shit up. It's not nearly as easy to get judgement vacated.
 
Rage9 said:
I wouldn't negotiate unless they prove they have something. Then and only then. If you're going to negotiate I believe the status you want is "PAID" or is it "PAID IN FULL". I forget, but any less will hurt you.

No need for a P.O. Box, but you should send everything through USPS with Certified Mail with Return Receipt. This is considered enough proof that you mailed a document to the CA or CRA.

In the event they don't reply within a timely window send it again. If you do it a few times it'll show their negligence if you take them to court.
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Just looked, if you kept the listing you'd want it listed simply as "Paid". However you should try and get them to delete it, thus taking any negative info with it.
 
Rage9 said:
It's 7 years from the date of last activity, which is the last time you paid on it. This can be different by state because some states you can pay on it after it goes in to collection and still get to use the charge off date or something similar.
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Also clarification here:

There are various opinions on when the SOL starts:

The first time you fail to make a payment on your account.
The credit card company sends you a demand letter for the full amount.

Any can be true, depending on the credit card agreement. Here's why:

The length of the statute varies from state to state and depends on the type of agreement, i.e. oral, written, etc. The one aspect of a statute of limitations that is pretty constant throughout all of US states' laws is when it begins to run.

A statute of limitations, or limitations of action statute, begins to run when a cause of action accrues. In plain English, that means the statute begins to run when you have done something contrary to the terms of your agreement for which you can be sued. Most of the time, that "something" is failure to pay your bill. When you don’t make your payment on time, you have violated the terms of your agreement and you have given the creditor a cause of action.
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Rage9 said:
50 pages? Damn son. I'm not sure how they would tell you're evicted unless there is an entry from a land lord and they called them up. Have you had any judgement against you? Pretty easy to look that shit up. It's not nearly as easy to get judgement vacated.
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50 pages total from all 3 credit places, a lot of the pages were just wasted because of the font size lol. Only like 13 actual debt items.
 
Rage9 said:
50 pages? Damn son. I'm not sure how they would tell you're evicted unless there is an entry from a land lord and they called them up. Have you had any judgement against you? Pretty easy to look that shit up. It's not nearly as easy to get judgement vacated.
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No never had any judgements or papers served.
 
I wouldn't pay your debts off unless you get something in return. Paying off old debts such as yours will have have very little to no effect on your credit score. It may look better to have them paid, that is up to you. But from a score perspective, its pointless.

Negotiate a pay for delete with the creditor or just don't pay it.
 
teck112 said:
I wouldn't pay your debts off unless you get something in return. Paying off old debts such as yours will have have very little to no effect on your credit score. It may look better to have them paid, that is up to you. But from a score perspective, its pointless.

Negotiate a pay for delete with the creditor or just don't pay it.
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Yep got it :) good tips in this thread.
 
You dun goofed OP.

But on a serious note, negotiate with them. Tell them you will half the outstanding balance for them to remove the entry from your credit report. Get it in writing first, signed by the owner of the company, and have it mailed to you. Then proceed to pay them and cross your fingers.
 
If you've got some serious time to waste on this go to creditboards.com and poke around. Look at the PFD stories in particular. I found their consumer section quite useful a few years ago and they also have a business credit section as well though I've never read those threads.
 
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