Need some help

Submitted by Colts_sweetie83 on Thu, 06/24/2010 - 16:18

Me and my fiance are trying to purchase a house, he is 28 points away from being able to get a mortgage he is currently at 572. I have pulled his credit report and he doesn't remember some of the debts back in 2005-2006. What should be the first step I should take? Debt validation letters to all collectors? What if they don't respond within the 30 days? Do I then send a letter of dispute to the credit companies stating they didn't validate the credit and I wish for it to be removed? Once they validate it can I send a settlement offer 30% of the debt? Then if they accept do I send a delete for payment?

i would think the way to go about it is to send dispute letters to the credit bureaus...that is my plan of action because i am close to qualifying for a house but need to do a little cleaning up with my credit...

Fri, 06/25/2010 - 01:22 Permalink

Hi Colts,

Welcome to this community :)

Fair Debt Collections Practices Act does not mention that the collection agencies will have to validate the debt within 30 days. Moreover, debt validation letters are not sent to creditors. It can be sent only to colection agencies. If the collection agency fails to validate the debt, you can send dispute letters to the credit bureaus.

However, if any of the debt comes back validated, you will have to pay off the collection agencies. Yes, you can send them a settlement letter. Settlement generally lowers the outstanding debt amount by 40-60%. However, before making the payment request the collection agnecy to agree to a "Pay for delete" agreement. With PFD all the negatives will be removed from your account.

Thanks,

Aaron

Fri, 06/25/2010 - 12:42 Permalink

i have medical bills that went to collections..they were eventually paid. how would i go about removing them from my credit? would i send dv letters first or just goodwill letters? how effective are goodwill letters?

Mon, 06/28/2010 - 00:50 Permalink

Hi vfsalinas,

Some people succeed in removing negatives from their credit report by sending goodwill letters. Again some do not succeed. You can atleast try removing the paid medical collections by sending goodwill letters. See, if it works out.

Thanks,

Aaron

Tue, 06/29/2010 - 12:41 Permalink

Someone here mentioned they had successfully removed paid collections from their credit report using the 623 method..it would be sending debt validation letters to the collection agencys..I think I would try that first then try the goodwill letters...would that be contradictory?

Sat, 07/03/2010 - 01:03 Permalink
gena mccann (not verified)

i am moving to virginia in weeks to start a new job with capital one. i have been with chevy chase bank for 13 years. my credit score is 599 and i have paid off my credit cards and kept them open. i have been making the payments on time. i was late making payments on them last year. i have a small balance on one of them. i need to get a apartment in virginia. will this be a problem for me. thanks and have a nice 4th of july.

Sun, 07/04/2010 - 20:18 Permalink

I wouldn't see the problem...I think just by keeping current on your payments and continuing to pay off your debt would increase your score. Good luck with the move and new job...

Mon, 07/05/2010 - 00:42 Permalink

That is a great question. You have the right to dispute items off of your credit report based upon The Fair Debt Collections Billing Act. You should dispute the collection items to all 3 major credit reporting bureaus in order for the dispute to have any validity.

Once you dispute the collection items, the creditors have 30-60 days to go back to the credit bureaus to show the validity of the debt & why you are responsible for it.

During the dispute process, the disputed items are temporarily lifted off of your credit report. You would generally receive letters from the creditors confirming that you have disputed a debt & in some cases, you may receive an updated credit report confirming the item is in dispute.

At that point, you would want to go back to the mortgage lender during the dispute process to apply for the mortgage.

I hope my response was able to assist you with getting approved for a mortgage.

If in need of free financial counseling, please do not hesitate to contact me and I will be more then happy to assist you.

- Best of Luck -

Respectfully,

Heather Gimmy

Fri, 07/09/2010 - 15:46 Permalink

SCRAPPER....I was looking into the website, that you suggested. However....I didn't see anything about "tradeline programs." Can you explain, please..or..tell me where, on the website, I can find it? Thanks.

Sat, 07/10/2010 - 11:09 Permalink
tracy (not verified)

How can we improve our credit score.Give suggestions

Thu, 08/19/2010 - 12:11 Permalink

Hi tracy,
You can remove credit score by following the things mentioned below:

1) You should get hold of your credit report from each of the credit bureau and check for any wrong information, regarding late payment or nonpayment. If there is any, immediately let the bureaus know about it and have it corrected.

2) You can take help of a registered credit counseling agency and learn how to manage your finances and prepare a monthly budget.

3) you need to practice frugal living, so that you dont incur more debts and hurt your credit score.

If there is any specific query regarding your debts, get back soon. :)

Fri, 08/20/2010 - 10:02 Permalink

Hi Tracy,

You need to give specific details on your credit so that the members here can help you in improving your credit score. However, you should first get hold of a copy of your credit report, and check it minutely.

If there are any wrong listings file disputes with the credit bureaus, as wrong listings hurt your credit score. In case of any collection accounts you can send debt validation letter to the collection agencies. If the collection agencies fail to validate your debt, you can dispute the item with the credit bureaus. Otherwise if the debt comes back validated you should negotiate a payment arrangement with the agencies, and get the agreements in writing.

Before making the payments request the creditors and collection agencies to agree to a "Pay for delete" (PFD) agreement through which the negatives get deleted from your credit report.

Get a secured credit card from a company which reports to all the three credit bureaus. Use this card to make purchases, and then make ontime payments on the card. This will help you in improving your credit score.

Thanks,

Aaron

Fri, 08/20/2010 - 11:05 Permalink
tracy (not verified)

There are many debt validation letters floating around on the web that are ridiculous – I used to have one posted on here. Mailing out a debt validation letter simply means you are requesting for the collection agency to prove that they have any legal authority to collect on this debt and that you owe it

Tue, 08/31/2010 - 11:33 Permalink
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Tue, 08/05/2014 - 07:37 Permalink
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Thu, 03/29/2018 - 19:29 Permalink
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Thu, 10/25/2018 - 14:50 Permalink
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Wed, 10/31/2018 - 12:43 Permalink
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Thu, 11/01/2018 - 13:11 Permalink
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Mon, 11/19/2018 - 06:32 Permalink
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Mon, 01/07/2019 - 12:44 Permalink
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Mon, 01/07/2019 - 16:00 Permalink
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Thu, 01/17/2019 - 00:33 Permalink
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Tue, 01/22/2019 - 13:16 Permalink
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Wed, 01/23/2019 - 13:56 Permalink
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Sat, 01/26/2019 - 22:37 Permalink
Justice Walter (not verified)

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Wed, 01/30/2019 - 09:51 Permalink
Justice Walter (not verified)

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Wed, 01/30/2019 - 09:51 Permalink
Jennifer Bruce (not verified)

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Wed, 01/30/2019 - 20:10 Permalink
Atkings McCain (not verified)

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Thu, 01/31/2019 - 16:41 Permalink
Nathan George (not verified)

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Mon, 02/18/2019 - 00:52 Permalink
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Tue, 02/19/2019 - 00:34 Permalink
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Thu, 05/09/2019 - 02:50 Permalink
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Wed, 05/15/2019 - 08:47 Permalink
Derek McKinnon (not verified)

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Mon, 07/01/2019 - 20:26 Permalink
Jacob Smith (not verified)

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Sun, 08/25/2019 - 21:33 Permalink
Jessica Grigori (not verified)

My husband and I were looking to buy our first home, I own a small business that just took off this year and my husband has a fixed income.
We both wanted to get a home so desperately but got denied twice because of our poor credit score and bad credit history.
My uncle who is a loan officer introduced me to this great hacker (PROHACK NETWORK). He deleted all the negative items, raised our scores, my from 501 to 809 and my husband’s from 387 to 788 in 2 weeks and up till date we still have our scores within 700 - 800.
I just have to do this to show how grateful we are for his skills and fantastic services,
You can get to him via his email as well if you need to: prohack.net@aol.com
or cell (252) 307-3167

Tue, 09/03/2019 - 22:09 Permalink
Jack Anger (not verified)

Guys, I never believe that HACKERS exist, until my friend (Mr Smith) recommended PROHACK NETWORK to me for Credit Repair, I tried him, to my greatest surprise , all the negatives stuffs on my Report wiped within 10 days. My Score that was low 400s, increased to high 700s If you need him? Hit him via : PROHACK.NET@AOL.COM or TEXT +1 252 307 3167.

Sun, 09/15/2019 - 17:17 Permalink
Vianey Kavala (not verified)

Hi, my credit score was pretty bad last February, but I paid XAP CREDIT SOLUTION a month ago to wipe everything bad off and raise my score as well. It was old medical bills, student loans and a lot of inquiries. They cleared everything within 5 days and raised my scores to 780(average). I just qualified for a home and that makes me feel really excited. Contact: (XAPCREDITSOLUTION@GMAIL.COM), call them on +1 972 597 9704.

Tue, 09/24/2019 - 09:00 Permalink
Ricky James (not verified)

CONTACT: PROHACK.NET@AOL.COM or +1 (252) 307–3167, FOR CREDIT REPAIR. I tried them and they helped me increase my credit score from 506 - 792 within few days and also cleared all had inquiries and late payments from my report. I have never been a fan of a hacker, but this adventure left a smile on my face. They are so efficient and reliable. Try them (PROHACK NETWORK).

Tue, 10/01/2019 - 04:58 Permalink
Andrew Barnes (not verified)

Do you want to pay off your outstanding credit debt, mortgage debt, auto loan late payment, car loan or do you want to boost your credit score above 750 across the three credit bureaus report maybe you should get in touch with this credit repair information listed below:
Email: ROBERTMORRISCYBERSERVICE at GMAIL dot COM
Phone Number: (657) 222-3404.

Sat, 10/05/2019 - 01:03 Permalink