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mykel
Joined: 15 Mar 2010
mykel's page
Posts: 8
200 Magic Points
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Subject: First look at real credit score. Poor. Need help
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Mon Mar 15, 2010 1:04 am
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Today I got my credit report from all 3 companies and my FIFO score as well. It was a 544. I have 10 open accounts in collections. And 10 closed accounts as well. What is the best way to go about fixing this the best most affordable and quickest way? Most accounts are store cards such as best buy, sears, macys, pacsun, express, medical
bills, and utility I believe. They all total 4500$. I would like to negotiate with them on a price because they have increased over the past 3 years from intrest. I would like to have them completely off as well. Is this possible? Please experts help. Thank you |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: fixing old collection accounts
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Mon Mar 15, 2010 6:17 am
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Hi mykel,
Can you tell me if the closed accounts are reported as having zero balance? Did you pay off the dues before closing the accounts?
As for the collection accounts, if you are not sure how much you owe and to whom, you can send debt validation letters to the collection agencies (CA). After the debt validation, request the CA to agree to a "Pay for delete" agreement (PFD). With a PFD, your account will be reported "Paid". This will improve your credit score quite a lot.
Hope this helps.
Regards,
Aaron
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Mon Mar 15, 2010 11:41 am
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Yes all of the closed accounts have balances of 0$.
I don't think I paid dues before they were closed. Will I still be able to negotiate a price if I ask for a pfd? Thanks I will post mire detailed info later today. I appreciate the help |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: reply
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Mon Mar 15, 2010 12:07 pm
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Hi,
You should first talk about the settlement. After the collection agencies agree to the settlement, request them to agree to the PFD agreement. However, not all collection agencies agree to a PFD. Still, you can give it a try.
Hope this helps.
Regards,
Aaron
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mykel
Joined: 15 Mar 2010
mykel's page
Posts: 8
200 Magic Points
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Mon Mar 15, 2010 12:34 pm
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I also forgot to ask but I have about 2000$ now
and was wondering if I could eliminate if not all but quite a bit of this 4500 of my debt. Ok so I send a dv letter then a settlement letter then a pfd letter? |
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mykel
Joined: 15 Mar 2010
mykel's page
Posts: 8
200 Magic Points
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Mon Mar 15, 2010 1:25 pm
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Accounts that contain a negative account status. Accounts not paid as agreed generally remain on your credit file for 7 years from the date the account first became past due leading to the current not paid status. Late Payment History generally remains on your credit file for 7 years from the date of the late payment.
Open Accounts
ARS
Equifax TransUnion Experian
Account Type:
Open
Account Number:
52XXXX
Payment Responsibility:
Individual
Date Opened:
12/2009
Balance Date:
03/2010
Balance Amount:
$416
Monthly Payment:
High/Limit:
$416
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: MED1 02 EMERG PHY ASSOC OF S JERSEY COLLECTION ACCOUNT
Show Details
ASSET ACCEPT
Equifax TransUnion Experian
Account Type:
Open
Account Number:
3885XXXX
Payment Responsibility:
Individual
Date Opened:
01/2009
Balance Date:
02/2010
Balance Amount:
$256
Monthly Payment:
High/Limit:
$235
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: EXPRESS STRUCTURE WORLD FINA COLLECTION ACCOUNT
Show Details
ASSET ACCEPT
Equifax TransUnion Experian
Account Type:
Open
Account Number:
3823XXXX
Payment Responsibility:
Individual
Date Opened:
09/2008
Balance Date:
02/2010
Balance Amount:
$422
Monthly Payment:
High/Limit:
$378
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: PACIFIC SUNWEAR WORLD FINANC COLLECTION ACCOUNT
Show Details
MIDLAND CRED
Equifax TransUnion Experian
Account Type:
Open
Account Number:
853062XXXX
Payment Responsibility:
Individual
Date Opened:
04/2009
Balance Date:
02/2010
Balance Amount:
$857
Monthly Payment:
High/Limit:
$728
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: HSBC BANK NEVADA N A COLLECTION ACCOUNT
Show Details
NCO FIN /99
Equifax TransUnion Experian
Account Type:
Open
Account Number:
68606XXXX
Payment Responsibility:
Individual
Date Opened:
12/2006
Balance Date:
10/2008
Balance Amount:
$138
Monthly Payment:
High/Limit:
$138
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: TD BANK N A COLLECTION ACCOUNT
Show Details
NCO FIN /99
Equifax TransUnion Experian
Account Type:
Open
Account Number:
71910XXXX
Payment Responsibility:
Individual
Date Opened:
02/2009
Balance Date:
02/2010
Balance Amount:
$203
Monthly Payment:
High/Limit:
$203
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: 06 PROGRESSIVE INSURANCE COLLECTION ACCOUNT
Show Details
NCO- MEDCLR
Equifax TransUnion Experian
Account Type:
Open
Account Number:
3894XXXX
Payment Responsibility:
Individual
Date Opened:
08/2007
Balance Date:
05/2009
Balance Amount:
$1,137
Monthly Payment:
High/Limit:
$1,137
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: MED1 02 EMRG PHY ASSOC OF S JERSEY P COLLECTION ACCOUNT
Show Details
NEW CENTRY
Equifax TransUnion Experian
Account Type:
Open
Account Number:
702127122765XXXX
Payment Responsibility:
Individual
Date Opened:
08/2009
Balance Date:
03/2010
Balance Amount:
$912
Monthly Payment:
High/Limit:
$912
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: 12 HSBC BANK NEVADA NATIONAL ASSO COLLECTION ACCOUNT
Show Details
NEW CENTRY
Equifax TransUnion Experian
Account Type:
Open
Account Number:
504994015757XXXX
Payment Responsibility:
Individual
Date Opened:
08/2009
Balance Date:
03/2010
Balance Amount:
$489
Monthly Payment:
High/Limit:
$489
Account Status:
Collection
Past Due Amount:
$0
Comments:
ORIGINAL CREDITOR: 12 SEARS PREMIER CARD COLLECTION ACCOUNT
Show Details
Closed Accounts |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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