I have been browsing for some time gathering tips, information, templates, etc. I have been wanting to clean up my credit for awhile now and finally have taken the steps to take charge and begin my transformation. I guess a recent attempt at collection spurred this.
I would like to use this forum to document what I do and the results I get as a first time self-help rookie credit repairer. I would love the input from those on the board and hopefully this will benefit those who haven't decided to take this into their own hands yet. It will also serve to assist me when things get sticky and I don't know what to do. So without further delay I will begin:
I have a score of 546. WOW! pretty low. This was spawned by poor credit decisions in my youth.
I had 10 potentially negative items on my report and only 4 good marks.
-The negative are mostly collection accounts, some charged off, some still with the original creditor I assume.
I don't have any major credit card accounts open.
No Judgements against me.
I have a large number of hard inquiries.
What I am doing right now:
-I have sent DV to all negative listings on my report. Reguardless of collection status I hope to either a)get it removed or b) get it validated and gain more information about the debt, such as who I actually owe, account numbers, etc. Information is control, and that's what the goal is.
-I have sent 1 PFD letter to a charge off for a relatively small amount ($64). Not a large amount and probably cheaper this way than to continue sending certified correspondence to them. I know this debt is mine, will update if they accept.
**-Currently attempting to find the dates in which the statute of limitations apply on my debts. I am having difficulty in locating the dates of which these accounts went south. I am a resident of Oklahoma, all of my debts were contractual, so the SOL should be 5 years. I have one I believe I signed in Arizona(6), and was was signed in Texas (4).
**-I am also attempting to decipher the age of the entries to determine when their 7(+) years are up.
Once I receive validations or my return receipts plus 30 days then I am drafting letters to all three CRAs including my evidence as well as requesting the update of my personal information, and the deletion of my hard inquiries (most of which expire 01DEC08)
I have also applied for a secured Visa through my bank in hopes that this might help sometime down the road.
I am paying down my current revolving accounts down to around 30% of the limit.
So, this is what I have done, and my short term plan for the near future. I would like any advice or suggestions that could be provided. I have a feeling this could get sticky!
I will update this thread as I send or receive information from the "enemy" or if I get stuck and just plain need some help. I really hope this benefits someone in the future.