What if I'm ready to pay off everything? [Archive] - Credit and Debt Problems Forums

Mycla

04-27-2008, 08:31 PM

Hello everyone, :)++

This is my first post but likely not my last since the more I read, the more questions I have! 88-)

Quick summary:
We have approximately $27,000 in "bad debt" listed on our CRs from the Big 3.

- About $4,000 of that is exclusively medical and recent (last 2 years).
- About $400 of it is from a credit card (4 years old? Long closed/charged off).
- Approximately $10,000 is things like utilities that didn't get paid while my husband was laid off (2001-2003), a bounced check, and a failed furniture rental agreement (Rent-A-Center type place).

- Roughly $13,000 is from a car loan we defaulted on in 2005. And we still have the car. We bought the car, were sent out of state for work, couldn't make some payments because we were having to pay out-of-state housing to keep husband's job. The car was with us, so they apparently couldn't "find" us, I don't know. We since moved back to Michigan, and have lived at the same address for almost 2 years. The car is sitting in my driveway as I write. It is insured and licensed. Our credit report shows the debt still belonging to the original creditor, says it was submitted to collection on 2/06 (when it was closed), and says:
Loan Type: Automobile
Remark: Transferred to recovery

It ONLY shows up on our credit under the original creditor - the loan company. And the car was never repossessed. The CRAs have our correct address and employers on file, have for almost two years. Finding us wouldn't be hard.

So that sums up our debt.

Our financial situation very recently improved quite a bit because I gained full-time employment in my field. We're making a six-figure income now and are prepared to pay everything off. I could literally sit down this week and write out payments to every creditor. That's all well and good.

However, we desperately want to buy a house. We actually want to buy a specific house, so time is a factor. Our credit score averages are roughly 540 (husband, most debt was/is in his name) and 480 (mine). Mine is so low because up until that car loan I mentioned, I had no credit. The car loan, and the failed furniture rental agreement both went on my credit, along with some medical. I had no positive credit.

We can get a mortgage through our credit union if we can get our scores up to around 580. Both average scores, his and mine. We have a small secured loan (with CDs) through our credit union positively reporting to his credit. We're adding me to the loan so it will positively report to my credit as well.

I'm getting very confused by what I read - apparently paying off the bad debt isn't enough. So how do I proceed and accomplish the following:
1. Get the debts paid ASAP
2. Pay the debts in such a way that it has a positive effect on our credit in the shortest amount of time.

I understand it took time to accrue the debt, it will take time to clean it up. What I can't seem to find out is how best to proceed so as to have a positive impact on our credit, short OR long-term. Even if we can't buy the house we want in the next few months, I still want to do this in a way that it has the best outcome for our credit.

I don't need to negotiate a settlement, I'm fine with paying the full amount we owe. It is our debt, we did accrue it, we do in fact owe it. I do need some clarity about who to send the payments to and who to notify they've been paid to get things removed/adjusted properly on our reports.

Any advice is welcome, and I'm glad to answer any questions to provide clarity. I apologize for the length. Thanks for taking the time to read. :-)

Best,
Mycla

LeslieR

04-27-2008, 08:38 PM

Congrats on being able to rebound financially and being in a position to pay these debts. However, you are totally correct: paying them will not remove them from your credit and will have no positive impact on your credit score for quite some time (read: several years depending on their current age). You should examine the DOFD (date of first delinquency) on these negative tradelines - some may be due to drop off soon, and although that does not absolve you of your responsibility to pay any debt that's yours, it will mean a cleaner credit report. No debt *paid or unpaid* can be reported longer than seven years, even though it may be sold and sold and sold again and those JDBs may continue to attempt to collect on it. It can take a few months to see positive effects from CA deletions (but some see them instantly)

You should try to obtain "pay for delete" agreements - search PFD on these boards. You should be successful with getting the medical collections deleted in particular using this method. It may be difficult to get any larger/major lender to go for this.

You might also try disputing the utilities and the other stuff you mentioned in your third group (at each CRA's website or in writing to the CRAs). Those might simply disappear after dispute. Some here would question the ethics of that practice - even after they are deleted, if you feel strongly about doing the right thing, you could pay them. But you might run the risk of them reappearing as a paid collection at that time. Given the circumstances you describe in your post, do NOT dispute anything that hasn't been reporting for two or more years. This may result in coding of the account which makes it appear that it's a much more recent late than it really is.

You should also study your credit reports carefully for inaccuracies, despite your willingness/ability to pay. Catching a CA with a major inaccuracy/violation could be enough to leverage a PFD.

HTH; I know others will have advice for you. Good luck, and be patient.
Best of luck, and keep reading. ;)

Mycla

04-27-2008, 08:54 PM

Leslie, thanks for the very QUICK response! Wow! I only clicked back so I could read the post to my husband and there was already a reply. Very cool. :)

I'm very interested in the "Pay for delete" possibility. I wasn't sure what to call that concept, so now I'm off to search for info about it.

I already made one blunder you outlined in your reply. When I first pulled our credit reports in January from the free credit report thing, I saw that a judgment entered against us in 2002 was still on file as unpaid. I disputed it as being paid, the CRA verified it. Only it shows it as having been settled in February of THIS YEAR now even though it was paid in 2003. ARGH! And from what I understand, there's no way to change that now. Big mistake on my part. At least my statement is there, too, where I said it had been paid in 2003. I don't know if that will make a difference or not.

At this point, I'm honestly afraid to dispute anything. The debt is valid, and while it's old, it's not old enough to disappear in the next few months, so I'd rather just pay it off if by making an offer to pay in full I can get the company to agree to remove it completely.

I'm gathering my payment offer has to go to the collection agency, not the original creditor, since it's the collection agency reporting. Going off to research the PFDs and find out!

Thanks again! xdancex

LeslieR

04-28-2008, 05:31 AM

I don't know much about judgments and how they are reported (thank goodness for me :) ) but someone else should chime in. I would think you should be able to get the error fixed - if in fact the judgment was satisfied on a date different than what the CRAs are reporting for you.

As far as negotiating PFDs, wherever possible, you should deal with OCs and NOT CAs. Do not CALL a CA under any circumstances at this point. Do NOT trust a CA who tells you that they will PFD unless you get it in writing. Deal with the OC and see what you can do. If in fact you are dealing with CAs on your reports and not "JDBs", your OC will still own the debt and has the ability to pull it back from collection.

Oh, and don't be afraid to dispute some of those utilities, check fees, etc. I promise you some of them will just go *poof*!

Mycla

04-28-2008, 11:59 AM

Leslie, thank you again for the advice. I swear, the more I read, the more confused I become. LOL

I've been digging through our credit reports from the Big 3, and each time I think I have a handle on this whole thing, I read something else that throws me for a loop. Whereas I started out just figuring I'd pay it all and do PFDs, now I'm reading things that say this may not be my best course of action for the positive outcome I want, and on top of that, I can't figure out the difference between debt validation and verification and when I need it! ROFL

Every debt on our reports are "older." In other words, the 30-days after notification has long passed, so that's where I'm getting confused with validation and verification and who does what.

With some debts, I'm coming from a place of strength in negotiating. In other words, the SOL on the debt has passed/is passing (6 years here in Michigan) and the 7 years for reporting is passing, all within the next 8 to 12 months. Of course, those debts are with agencies like Asset Acceptance, CMI, and Midland. With what I've read about them, I'm frozen, unsure how to proceed.

With the medical stuff, and there's quite a bit, I'm wanting to pay in full and get the delete, but all the PFD letters I've read seem pretty harsh given the fact that all I've read says medical is usually pretty willing to do a PFD agreement.

And last but not least, I cannot figure out for the life of me if I'm supposed to deal with the OC or the CA. With two exception, not a single record on my report is from the OC. And one of those seems to be listed on some reports by both the OC and the CA, with different dollar amounts! Every one of them is through a collection agency type place like Asset Acceptance, Midland, CMI, OSI, Certegy, Plaza (Aid?) Associates, CACH LLC, First Federal Credit Control, UCB Collections, etc. and some of those are duplicated!

It's totally overwhelming. I can't even get a clear handle on WHO I have to pay, or how much I have to pay them, or how to get the duplicates removed or anything. I'm tearing my hair out here in confusion. :confused:

Back to reading, hoping one of these :idea: will pop up above my head and let me figure this all out. Right now, I don't know where to start. :shock:

lovebug5

04-28-2008, 12:04 PM

For your medicals, definitely get in touch with your OC's and send them off a PFD...But the key here is to write your own PFD. Many times the original service providers on a medical will be more willing to pull the account back from a CA if you pay the debt in full and drizzle a lot of honey on your letter. :)

There are many people here who will tell you to go through the DV process on the rest of your debts prior to offering a PFD, provided that the debts are out of SOL, to make sure that you know precisely what you're paying for and how it was calculated. It's all a matter of opinion. If I saw an account that I knew was mine, knew that the balance due was correct and had the dough to pay it...Well, I'd go to the OC with a nice little emotional letter and PFD arrangement to see if they'd accept it. ;)

:goodluck:

Mycla

04-28-2008, 12:37 PM

lovebug5, thank you for the response. :)

What you've outlined is more in line with what feels right to me. I'm really not interested in trying to dodge any of the debt, even though I know from what I've read, I probably could get away without paying about $5,000 of it with minimal effort. Heck, if I just waited it out less than a year, I'd have $5,000 drop off.

I don't want to wait. I really want this house. Hell, my mortgage will be less than my current rent. It's pathetic, because we can so easily afford it if we hadn't screwed up. :(

So I'm focusing on finding the best way to pay the debt and negotiate full removal of the negative listings in as many instances as possible.

Something very confusing to me on a related subject. When we initially applied for the mortgage, the mortgage company turned us down (obviously) and provided us with a record of our scores and what was on our credit. In the section where it gives our scores from each of the Big 3, it tells why the score is low.

On five of them (six total for husband and I) it says "* Number of Inquiries Adversely Affected the Score."

I see people talking about having 20+ inquiries or whatever. The most we have on any report is FOUR. Most of them are like 2 or none. How is that constituting too many inquiries?

I don't understand. :(

lovebug5

04-28-2008, 02:44 PM

I'm not sure why only four would be affecting your score like that - because it is true...There are some people on here who have a ridiculously high number of IQ's and seem to get approved for everything under the sun. From what I understand though, getting approved for a mortgage is a little more difficult and therefore more restrictive. One of the resident mortgage experts here will chime in on that. :)

Basically, getting in touch with OC's when you're ready to pay off an old account gives you a much better opportunity to have the account removed from your CR's. OC's are defiintely more willing to work with you than a CA - so in my opinion, it's always a good route to take.

LeslieR

04-28-2008, 05:02 PM

With some debts, I'm coming from a place of strength in negotiating. In other words, the SOL on the debt has passed/is passing (6 years here in Michigan) and the 7 years for reporting is passing, all within the next 8 to 12 months. Of course, those debts are with agencies like Asset Acceptance, CMI, and Midland. With what I've read about them, I'm frozen, unsure how to proceed.

Mycla, search for these CAs here on the forums. You'll get strategies for dealing. Don't try to negotiate with groups like MIDLAND or ASSet. Just try to get them deleted. Seriously. The OCs won't deal with you on those accounts since they are JDBs and the OC long ago said bye-bye to the accounts.

Most of the outfits you mentioned are NOT CAs ... they are junk debt buyers. Which means the OC is unlikely to have anything to do with you on these accounts. And you sure aren't going to get PFDs from the JDBs. I really would DV these accounts. Some of them will not have the proper validation materials and you can demand deletion on them. Search for the 1-2 punch and get to work. I admire your willingness to pay these, but if your goal is to get them off your credit reports, the more I hear, I really think you should attempt to bump some off on technicalities through the 1-2 punch. JMHO.

Mycla

04-29-2008, 04:39 AM

Thanks Lovebug & Leslie, I'll look into the 1-2 punch.

I've been reading tons of threads since I joined here, and last night was pretty depressed because it sounded like I had no chance of getting those older debts off my credit even by paying them (Asset, Midland, CMI, etc.). I had to walk away for the night, it was just too overwhelming.

Seeing your posts this morning, it makes me think I can do this. I think I was stuck in a mentality that I could only deal "one way" with all the accounts, but there's no reason I have to do that.

I can DV the ones with places like Asset, CMI and the like, and try to negotiate a PFD with the OCs on the newer ones. Most of the new ones are medical, other than one which is still with the OC. And then the car, of course, which I'll just pay off and try to get a PFD, or at least a "paid as agreed" or something.

I've got a credit counseling appointment this morning with Greenpath Debt Solutions I made a few weeks ago. I'm going to keep it, since it's free, but I won't be enrolling in their program - just going to take the opportunity to ask them some questions.

Will update when I get home later today.

Thanks again! :)++

LeslieR

04-29-2008, 04:55 AM

Mycla,

My opinion ... and I think a lot share it here ... don't even waste time going to Greenpoint credit counseling. Even if you are prepared to be strong and not enroll in their program. They are not going to give you any information beyond "enroll in our program because...". Seriously. Many of us here have gone from scores in the 500s and no positive credit (some in the 400s!!) to 700s and prime credit simply from what we've learned here.

I'm glad you're expanding your thinking a bit about how some of these accounts can be dealt with. This will become the equivalent of a full-time job for you for awhile. It will get discouraging some days but you will have great successes on other days. Just don't quit. It will all pay off.

Mycla

04-30-2008, 09:45 AM

Leslie, you win a cookie. Going to Greenpath was an utter and total waste of time. First of all, the counselor was like 14. I'm not taking financial advice from a girl who looks young enough to date MY youngest kid. Secondly, she didn't hear a word I said. I had to repeat, multiple times, that what I wanted to do was pay all of my creditors off as soon as possible in a manner least damaging/most positive for my credit. She kept mentioning "making payment arrangements," and "payment plans" and such. Then when it finally sunk in that I wanted to pay them, in full, asap, she said, "well you should just do that then." :shock: Uh, which part of, "in the least damaging manner possible" did she not understand?

I asked if her organization could help me negotiate a pay-for-delete, and after a few blank stares and such, we finally established that she didn't know what I was talking about and that even if she did, she couldn't help me.

All this after her being 40 minutes late for our appointment.

What a complete and utter waste of time that was.

So it looks like my next step is to sign up for credit monitoring, get fresh copies of all our reports/scores, and then challenge a number of the tradelines on my credit report with the bureaus. And to follow that with DVs to Asset Acceptance, CMI, Midland and the like on the older stuff. The more recent medical items I'm still holding out hope I can negotiate a PFD with. The car, I'm just going to offer to pay it in full in exchange for a "paid as agreed," but I'm not going to push if they say no since technically, once I get back on their radar, all they have to do is come take the car if they want to be like that.

Thanks so much for all the advice. Back to reading and then composing letters for me!

lovebug5

04-30-2008, 09:54 AM

So it looks like my next step is to sign up for credit monitoring, get fresh copies of all our reports/scores, and then challenge a number of the tradelines on my credit report with the bureaus. And to follow that with DVs to Asset Acceptance, CMI, Midland and the like on the older stuff. The more recent medical items I'm still holding out hope I can negotiate a PFD with. The car, I'm just going to offer to pay it in full in exchange for a "paid as agreed," but I'm not going to push if they say no since technically, once I get back on their radar, all they have to do is come take the car if they want to be like that.

Leslie has given you fantastic advice, by the way, so I'm going to concur with her and your proposed plan of action 100%. My suggestion to you, as I believe Leslie mentioned, is to read up on the CA's that you listed above. There are plenty of threads about them on these forums, and reading through those threads might give you insight on how to deal with them and what your best specific course of action with each may be.

Good luck with what you're about to embark on. I always love seeing a newbie who actually listens to advice given and does their homework. Nice job! :)

Mycla

04-30-2008, 11:37 AM

Well this is interesting. Reading up on Asset Acceptance, I see that they're a major violator with all kinds of tactics. So I go look at our credit report and review the following. What's wrong with this picture?

ASSET ACCEPTANCE LLC
Address:
PO BOX 2036
WARREN, MI 48090
(800) 614-4730
Account Number: XXXX....
Original Creditor: DTE ENERGY
Address Identification Number:XXXXXXXXXXXXX
Status: Collection account. $3,041 past due as of Apr 2008.
Status Details: This account is scheduled to continue on record until Mar 2010.
Date Opened:11/2005
Type: Installment
Reported Since: 12/2005
Terms: 1 Months
Date of Status: 12/2005
Monthly Payment: $0
Last Reported: 04/2008
Responsibility: Individual
Credit Limit/Original Amount: $2,726
High Balance: NA
Recent Balance: $3,041 as of 04/2008
Recent Payment: $0
Account History: Collection as of Sep 2006 to Apr 2008, Dec 2005 to Jul 2006

This is for a balance due to a utility company. The services were shut off in 2003. I think the last payment was in June of 2003, and it was finally shut off in August.

So I go look at other known offenders, like CMI and Midland.

From CMI we have:

CREDIT MANAGEMENT LP
Address: 4200 INTERNATIONAL PKWY
CARROLLTON, TX 75007
No phone number available
Account Number: XXXXXXXX
Original Creditor: TIME WARNER CABLE OF OAKLAND C
Address Identification Number: XXXXXXXXX
Status: Collection account. $350 past due as of Dec 2002.
Status Details: This account is scheduled to continue on record until Aug 2008.
Date Opened: 03/2002
Type: Collection
Reported Since: 05/2002
Terms: 1 Months
Date of Status: 06/2002
Monthly Payment: $0
Last Reported: 12/2002
Responsibility: Individual
Credit Limit/Original Amount: $619
High Balance: NA
Recent Balance: $350 as of 12/2002
Recent Payment: $0
Account History: Collection as of Dec 2002, May 2002

For this one, the last payment was in about June of 2002.

CREDIT MANAGEMENT LP
Address:
4200 INTERNATIONAL PKWY
CARROLLTON, TX 75007
No phone number available
Account Number: XXXXXXXX
Original Creditor: BRIGHT HOUSE NETWORKS
Address Identification Number: XXXXXXX
Status: Collection account. $324 past due as of Jan 2004.
Status Details: This account is scheduled to continue on record until Mar 2010.
Date Opened: 10/2003
Type: Collection
Reported Since: 01/2004
Terms: 1 Months
Date of Status: 01/2004
Monthly Payment: $0
Last Reported: 01/2004
Responsibility: Individual
Credit Limit/Original Amount: $371
High Balance: NA
Recent Balance: $324 as of 01/2004
Recent Payment: $0
Account History: Collection as of Jan 2004

For this one, the absolute last possible payment was in August of 2003. But again, it was made in June of 2003 and service was shut off before August.

And we shouldn't let Midland feel left out:

MIDLAND CREDIT MGMT
Address: 8875 AERO DR
SAN DIEGO, CA 92123
(888) 403-6206
Account Number: XXXXXXXX
Original Creditor: SBC - AMERITECH
Address Identification Number: XXXXXXX
Status: NO STATUS.
Date Opened: 12/2005
Type: NA
Reported Since: 04/2002
Terms: 1 Months
Date of Status: 04/2002
Monthly Payment: NA
Last Reported: NA
Responsibility: Individual
Credit Limit/Original Amount: NA
High Balance: NA
Recent Balance: NA
Recent Payment: NA
Your statement: Account in dispute under Fair Credit Billing Acts.

Which is definitely out of SOL, and the last payment was made in December of 2001, with shut off soon after. And do you notice there is NO AMOUNT listed? That's from today's credit report. This used to say the amount was $1,193. Oh, and did I mention? I have not disputed this debt, yet it claims it is?

On top of all of this, Asset's claimed balance is massively inflated over what was originally owed to the OC. Hugely, massively inflated. How is that possible on a utility bill? This isn't a credit card with interest, etc.

So I've got all this information, much of it false or misleading or whatever, and I can't figure out how to proceed, what to do with it?

They're posting inaccurate information, inflating amounts, claiming a utility bill is an installment account, etc. What do you DO about this??

Mycla

04-30-2008, 12:04 PM

I went and pulled an Equifax too (the other was from Experian). Here are the tradelines on that listing.

ASSET ACCEPTANCE COR
DTE ENERG-XXXXXXXX N/A $3,036 04/2008 $3,036 $0
ASSET ACCEPTANCE CORP.

Asset Acceptance,Llc
PO Box 2036
Warren, MI-480902036

Account Number: DTE ENERG-XXXXXXXX
Current Status:
Account Owner: Individual Account.
High Credit: $2,726
Type of Account : Open
Credit Limit: $0
Term Duration:
Terms Frequency:
Date Opened: N/A
Balance: $3,036
Date Reported: 04/2008
Amount Past Due: $3,036
Date of Last Payment:
Actual Payment Amount: $0
Scheduled Payment Amount: $0
Date of Last Activity: N/A
Date Major Delinquency First Reported:
Months Reviewed: 11
Creditor Classification:
Activity Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed:
Type of Loan: Factoring Company Account (debt purchaser)
Date of First Delinquency: 06/2003
Comments: Collection account

WTF? WTF? WTF? Same tradeline, same OC, and major huge differences between what they're telling Equifax and what they're telling Experian.

I've got a listing from CERTEGY on Equifax, but it's sold to CACH LLC. according to Experian.

And let's not forget Midland again.

MIDLAND CREDIT MANAGEMENT
5775 Roscoe Ct
San Diego, CA-921231356
Account Number:XXXXXXXXXX
Current Status:
Account Owner: Individual Account.
High Credit: $1,193
Type of Account : Open
Credit Limit: $0
Term Duration:
Terms Frequency:
Date Opened: N/A
Balance: $1,193
Date Reported: 04/2008
Amount Past Due: $1,193
Date of Last Payment:
Actual Payment Amount: $0
Scheduled Payment Amount: $0
Date of Last Activity: N/A
Date Major Delinquency First Reported:
Months Reviewed: 13
Creditor Classification:
Activity Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed:
Type of Loan: Factoring Company Account (debt purchaser)
Date of First Delinquency: 04/2002
Comments: Consumer disputes this account information,
Collection account

How can it be disputed when I never disputed it? It's been showing that way since January. And on top of that, how can a collection account for a utility be OPEN??

What am I supposed to do about these? It's bad enough to have it on my credit, I was prepared to step up to the plate and pay it. But this is ridiculous. It's like they're posting whatever crap comes to mind, no matter how inaccurate it is, just to screw me over.

Do I not have any recourse? How do you challenge something like this and get it resolved to your satisfaction?

lovebug5

04-30-2008, 12:18 PM

My opinion which may differ from someone else's? If you're out of SOL on these debts...

Dispute each of those accounts, in writing (CMRRR) to the CRA's for completeness and accuracy of each individual piece of information. Literally list out each individual data field and very clearly request that they verify each. Once those come back as verified, if they're not deleted, send a Section 623 investigation request to your data furnishers.

Obviously again, I would make sure that you're out of SOL. The debt amounts are substantial enough that you might not want to wake the sleeping giant.

Mycla

04-30-2008, 02:42 PM

That's the big thing, Lovebug, I'm only out of SOL for certain on some of the ones that seem inaccurate.

I also just found one for Portfolio Recovery, where they list the original creditor as COLLECT AMERICA. WTF? How can a collection agency be the original creditor? And there's no information about what the debt is for, just a dollar amount ($632).

Is it a bad idea to send a DV to something that isn't out of SOL? I think I'm getting confused again. LOL

lovebug5

04-30-2008, 02:49 PM

Again, others might disagree with me on this one...But when you've got outstanding debts that are still within SOL, sending an untimely DV can most definitely wake the sleeping giant. It's a gamble that some people don't mind taking - me, personally, would much rather play the safe card...Unless I'm fully 100% aware that the account isn't mine and isn't being reported accurately.

Collect America is most likely a JDB, I'm assuming, and Portfolio Recovery is assigned to collect the debts owned by Collect America.

Information here is totally confusing, as is the fact that so many people have differing opinions on what steps to take. As I said, there are many people here who would tell you to go ahead and DV your CA's...And there are a good number of people here who would tell you that you'd be running a risk.

Mycla

04-30-2008, 02:59 PM

Yes, I see a lot of conflicting information. It's hard to figure what to do. :(

I'm probably going to post a lot of questions in this thread, not because I want someone to answer them, but because it gives me a place to refer back to and see what I've learned.

I keep changing my mind about how to proceed because of different things I read. That's what's making me a little :confused: and :shock: , I'm used to coming up with a game plan and executing it. Period.

I'm learning that it doesn't quite work that way with credit repair. There are different tactics which need to be taken with different creditors and situations. Finding the best course is as individual as a fingerprint.

One update, regarding my earlier posts. I mentioned that I wanted to do this quickly because there's a specific house I want to buy. My husband and I had a long talk in the course of my readings. I told him that there is no way to do this fast. Not in a month, not even in three months, particularly because we're so unlikely to get PFDs from Asset, Midland, CMI, etc.

We discussed the fact that the reason we want this particular house is because of the floor plan. It's not the location, it's the floor plan. And as much as we love it, it's not perfect. There's work we'd need to do to make it perfect. Finish the basement, completely change one of the bathrooms, change every lighting/plumbing fixture, and other things. We realized that if we spent a year cleaning up our credit, with our income level, we'd have no problem qualifying to build a house. In other words, we could still have the floorplan we want, but have it finished exactly to our specifications, have a better location more in line with our "dream," have everything the way we want it. Yes, it will cost us more than the one we've looked at, but the one we looked at costs less than half of what we qualify for with our income. There's lots of wiggle room there for us.

So that's the plan. I'm in this for the long haul. Ultimate goal: Build our dream house. Current goal: Take the first step. xdancex

Mycla

04-30-2008, 03:14 PM

I was just musing a bit over what I wrote in my last post. Especially the part about how I'm used to coming up with a game plan.

One of the (many) blocks I'm finding in moving forward is that the information contained on our credit reports seems so overwhelming. There's so MUCH of it. And it's spread out in three different locations, all in different order, and sometimes the info doesn't jibe.

I've found my first step. :idea:

After I submit this post, I'm going to go build a spread sheet. Four pages total, one for each CRA, and one to put all the info together for comparison. That will help me get a good handle on not only who we owe and how much, but what each CA is saying to each CRA.

I've been telling myself I need to get a grip. THIS is a grip. :-)

P.S. This has the added advantage of giving me one place to track every entry currently on my reports, and see/note any changes each subsequent time I pull our report. Wheeee!

LeslieR

04-30-2008, 03:38 PM

Leslie, you win a cookie.

Chocolate chip, rare, no nuts please!!!

You are on the right path. You will come out of this on top -- just be patient.

Mycla

05-01-2008, 10:15 AM

You've got it, Leslie - and one for Lovebug too! xdancex

So this was interesting. We called the big 3 today to get the DOFDs on several accounts where we're pretty sure there's been some re-aging going on and which should be out of SOL. Asset, anyone?

Equifax could not provide the "Date Major Delinquency First Reported" for any of the accounts we asked about. It's a field in the report, but it's blank.
TU and Equifax could not explain why two accounts show "in dispute" when we did not dispute them.
Nor could they explain how a collection agency (Collect America) could be listed as the original creditor on one of our tradelines.
Equifax also could not identify the original creditor on another tradeline where the OC field is blank.

How can they be reporting something where they do not know the DOFD?

lovebug5

05-01-2008, 10:55 AM

If I were in your shoes, I'd send a very detailed dispute letter to the CRA's regarding all of these accounts that you have questions about. I'd request that they investigate each and every data field for accuracy and completeness. This way, if they "verify" the accounts and continue to fail to report specific information, you're creating a paper trail for yourself to fall back on.

Many people here love EQ and, although they've been good to me in certain respects, I can understand why they're sued so often. I cannot even begin to tell you how many times they've verified accounts with blatantly wrong information for me.

Mycla

05-01-2008, 11:56 AM

TransUnion was actually really helpful. They were able to provide the DOFDs on everything, were friendly, etc. and of course made the "credit monitoring service" pitch at the end. LOL We're actually signing up with TrueCredit tomorrow. We only have a debit card, so for the free trial to even go through, we have to have a positive balance in the checking account and tomorrow is payday.

I think I said earlier that we've reconsidered our strategy in terms of buying a house. Our lease is up in July, we'll renew. We'll have been here two years. Our landlord will be happy, they love us and we take excellent care of this house. By the time our lease is up again, July of 2009, we'll have had four of our accounts fall off. Actually, that will happen by March. These are accounts held by the nasties: Asset, Midland, CMI. I can ignore them completely and they'll disappear. I like that.

One caveat to the CMI. We actually have two collection accounts with them, both for cable TV companies, both because of not returning boxes which got packed by movers and forgotten about. I actually still have the boxes, how scary is that? LOL One of them falls off October of this year. The other won't fall off until May of 2010. It's only like $650 between the two. So I have a plan on this one.

First going to challenge them with the CRAs. See what falls out. Then, if they verify, I'll DV and challenge again. Monitor for violations (they're already reporting false info) and then I'm going to send them a PFD. Basically, "I don't acknowledge these debts, I want them off my credit. One will fall off in a few months and is well out of SOL. The other is due off shortly. I'll pay you 100% for both, but you have to delete both. Otherwise, I sue you for the following violations..."

The majority of entries other than these are medical. They're not near SOL and they're not near falling off. Theoretically, these aren't considered when applying for a mortgage. I believe that like I believe little purple and green piggies are flying outside my window. I just checked. No piggies. With the medical, I'm in no position to negotiate, and they're new enough I'm sure they can document. But they're also with smaller, local CAs. So I may just ask if we can amicably settle - I pay, they remove, all very friendly with some requests for sympathy for the medical condition that created the debt to begin with. No matter what, I'll pay, but I may be able to get a favorable response.

Mycla

05-01-2008, 03:34 PM

This is an open invitation to all you wonderful people here to join me in a bit of fun. xdancex

I started this journey planning to pay every creditor on my CRA in full and hope for kind treatment in return. I've quickly been dosed with reality. I got to learn all about A$$hat Acceptance, and what nasty practices they use. I had an old utility bill with them. The SOL has run out, it's due off my CR in a few months. I was still leaning towards doing the responsible thing and paying them even though they have falsely reported inaccurate information AND inflated a utility bill with interest. :evil:

After today, I'm not longer that gullible, nice or in any way willing to be reasonable or responsible with this company.

Here is an excerpt of a letter I received from them today:

Dear Mycla,

We have recently learned that you may have inquired with a mortgage company about purchasing a new home or refinancing the one you own. This may be the opportunity you have been waiting for to resolve your past due obligations. Now is a great time to take advantage of the Mortgage Referral Team here at A$$hat Acceptance LLC.

Blah blah blah blah blah.

Once your account is settled, we will: Provide you with a paid account letter and close out the account.

More blah blah blah.

Now, I might STILL have considered paying them, if not for one small tiny insignificant fact:

The "debt" they are trying to collect from me is not the utility one (I got a separate identical letter for that). Oh no. No, you see, this is for a debt incurred by my ex-husband, after we were divorced some 15 years ago. He incurred the debt, among others, then declared bankruptcy. I had to jump through a thousand hoops to disassociate myself with his garbage even though we were long divorced when the debts were incurred, and even longer divorced when he finally filed bankruptcy.

xdeadhorsex

And yes, at the time I had to prove to these people that this specific debt from this specific creditor was not mine.

A$$hat apparently thinks I'm stupid enough, gullible enough, naive enough to go "OMG, they'll keep me from getting a mortgage if I don't pay," and send them the $5,000+ dollars they are now claiming (original bill was somewhere in the $2,000 range) is owed. A$$hat's interest accrual methods are interesting, no? xLoserx

Where you come in:
A$$hat can do nothing to me about these debts. They could try and sue, SOL is on my side in both cases, one debt is demonstrably not mine, and I can afford an attorney. I have no outstanding credit issues likely to go into collections which could end up on their desk. When the utility drops off my CR in a few months, any "damage" from A$$hat is done forever.

They have no leverage, and I have the borderline orgasmic pleasure of writing them not one, but two FOAD letters. xshakeitx

And I invite you to help me craft them. Vent your frustrations on A$$hat. Let your anger, frustration and worry be your inspiration. Take every ounce of unworthiness, desperation, depression, fear, worry, embarrassment and humiliation you've felt during this process, and dump it on them. Join me in telling them to FOAD in style, not just on my behalf, but on our behalf.

:PartyTime:

I've got hundreds of hours of work ahead of me to clean my credit up, and I'll be paying what I owe to every legitimate and even remotely decent creditor. I refuse to feel even a moment's guilt for not paying A$$hat and their ilk. Actually, if I could get the utility OC to talk to me about the original debt, I'd gladly pay them, but they don't even have record of our account any more. "You don't owe us anything." What I will not do is feel guilt, remorse or less worthy for refusing to pay a JDB thousands of dollars for a few hundred dollars of original debt that they probably bought for $20, and I'm certainly not going to give a moment's thought to refusing to pay a debt that was never in any way, shape or form even remotely MINE to begin with.

I will, however, enjoy the heck out of writing two FOAD letters for A$$hat, and I invite you to share the fun if you so desire. ::linedancers::

PrincessAmy

05-02-2008, 01:14 AM

Hi Mycla,

I'm in Michigan too ..and am in the same boat as you, except mine are mostly medical collections from when I lived in Colorado over 4 years ago.I have Midland, A$$hats, West Asset Mgt (who keep harassing my mother), Arrow and some local one's from Colorado that won't delete. 6 different agencies reporting the same credit card that isn't mine.

Ameritech doesn't exist anymore - you could probably DV that and they wouldn't get $hit from you. DTE may negotiate directly with you - i know a friend had that happen and they did.

I have 2 old apartments that I leased in Colorado that are with NCS that claim I owe them each over $1100- that's funny, since i fulfilled my lease and there's no proof of any money being owed.

Yeah, it's frustrating, but I can't wait to see the FICO score start to go up up up!