Dispute Errors, Validate Debts, Negotiate with Creditors
- The very first thing to do is dispute and and all errors on your credit report
- The next thing is to validate any and all collections to make sure the collection agencies have the legal authority to report and collect the bad debt in question
- Then pay in full or settle
- If you can catch the collection early, then you might have a chance for total removal of the collection account on all 3 of your credit reports.
- If the original account and or collection has been there a while and the creditor can't remove the account, then settle for 50 cents or less on the dollar.
- It is very important to have all 3 of your credit reports so you can have all the details like, Date Of Last Activity DOLA, Date Of last Delinquency DLOD, Balances, account numbers and who is on the account.
- Liens are removed by payment in full only. They can stay on your credit report indefinately. So pay off and negotiate any and all Liens as quickly as possible.
If all my collections are paid will it
help my credit score? YES IT WILL.
- If you were to pay off all
your collections, then your credit score could jump 100 points or more. Sometimes your score will drop imediately because the DOLA has been updated
- This occurs with accounts that are 2 years or more old. Any account that is as new as 2 years back from today, will not hurt your score much at first, but will raise you score tremendously over a 4 month to 2 year period
- IF
you have 3 open and reported to credit bureaus credit cards or car
loans or home loans.
- Should you pay off old
judgments? Of course you should. They do not re-date
judgments and any unpaid judgments shows up as 100% debt to credit
limit ratio and thus hurts your credit score rating.
- Will I be able to purchase a home with a judgment on my credit? Not a normal or conventional loan Unless the judgment is very old
and paid off.
- How do you prove a judgment was paid
on my credit report? You dispute the judgment with the free credit dispute form a paid in full and as
agreed
Tags: Delete bad credit MYSELF.
removing things from credit report, how much will my credit score
go up if a judgment was deleted, how to erase things from your
credit report. how can i get medical collection removed if i paid
hospital directly. is there a way to get accounts deleted from my
credit report
Collection Questions:
- I have a question regarding a judgment
that was placed on my credit. It was through a small claims court and I
paid it all of the day it was due. I have documentation to prove it.
Is there any way I can get this deleted from my credit ort does it
show as a pay off?
-------------------
it
should show paid in full zero balance
but
the judgment will show on your report for 7
years
after 2 years pass the judgment will
not hurt your credit
if
you keep good current open credit that
is reported to bureaus
- Can a collections be removed from my credit
report? Yes sometimes it can.
How do you
remove a collection from my credit report?
A collection can sometimes be removed from my
credit report if I negotiate before I pay
Hospital bills are the easiest collections to get removed as
they often contain errors with insurance or billing. Hospitals are
not in the credit business and only want to be paid for the work
they do. So if I have a hospital collection, then I call and
negotiate to have the account removed because, the insurance didn't
pay, I didn't get the bill, it is my fathers account, it was the
wrong amount and now I am willing to make the problem go away even
if I have to pay. I am trying to buy a house and this is the only
thing holding back. I never even knew I owed money to you guys.
Please help me if I pay.
Phone, Cell Phone, Water, Gas, Electric,
Cable bills:
Are some of the hardest to
remove from your credit. Utilities have only themselves to blame if
they keep turning the water on for some one they could not collect
on. So they all mostly give you about 3 months to respond and then
usually will even set up a repayment plan after that time if I
cannot pay in full. These utilities go the extra mile in collections
and need some reliable way of making informed decisions about who
they should approve. They almost never negotiate. Pay them off in
full if possible and get the account to show zero balance and paid
in full.
Credit cards, Finance Company loans, Bank
loans:
If a person can reopen one of
these accounts after they pay it off in full, then they can usually
get anything older than 24 months removed from the report. Sometimes
after only 1 year of new good credit on your account a creditor will
go back and report only the last positive year or years. All you
have to do is call them and ask. But first pay the account and
reopen new good credit with them to show you are trying to be
a responsible credit worthy person.
Get all 3 credit scores fast free and easy with GoFreeCredit
So you say you want to improve your credit? Well it starts right here.
As seen on AOL MSN and YAHOO
I HAVE 10 COLLECTIONS PAID DOWN TO 0 BALANCE. I
DID NOT NEGOTIATE WITH THESE DEBTS. MY TOTAL DEBT IS ONLY 5000
DOLLARS. BUT MY CREDIT SCORE IS ONLY 599. HOW CAN I GET THESE
COLLECTIONS OFF MY RECORD. THANK YOU
I should have negotiated before I paid
collection. I am still a better person. I can say I paid all my bad
credit and bills and want to open new good credit and become a
responsible credit worthy person.
I can dispute the paid collection accounts as not
mine and some creditors might not respond or might have gone out of
business.
These paid collections probably
will not come off and I cannot negotiate after I have paid unless I
re open a past bad account and pay good for 2 years then call and
beg. If I get new good credit, these paid
collections will not hurt my credit score much in the future and my score should
increase to 650 at least in the next year with no new bad
credit.
I get my reports and scores each year no matter what. Right here. If I am trying to negotiate, dispute and settle, then I monitor my progress right here. You can't fix what you can't see. 3 Scores cost 24.95 at AnnualCreditReport.com
Almost 99% of the time for me, there are
probably 5 addresses on mine, or others report that are actually on
there wrong anyway's, even the slightest mis spelling or backwards
address is wrong, so I would either say not mine, unless I do it
online, it automatically says "I have never lived there" so I delete
all those addresses. They will delete them the first time,
especially of you add a fraud alert first. So I send a letter saying
please delete the following addresses as they are incorrect: 1,2,3
etc. If you do it online you may actually have it done within 10
days -2 weeks.
Then do the same on another letter with each
additional item, such as dob, aka's, etc.
After you get this
back you can have a hay day deleting stuff, because the creditors
have to be able to connect you in some way to that debt, and if
there is no address that is the same as the one in the debt, they
will delete it. Its so fun to get credit reports back with 10 things
deleted. :)
After you have the bare bones on
your credit reports, dispute the judgment and sometimes even after
the 1st try, you'll get it back clean! :) I just deleted a BK off my
parents report doing this as well. Please let me know if this works
for anyone, It really makes me happy when I can help someone. I
started learning about this after I had identity theft, and had to
fight for years. I kinda got it down to a science, although I did
find a cool site tonight that taught me some things.
http://www.creditinfocenter.com/rebuild/debt_validation.shtml
I have always only worked with the actual
credit bureaus to delete things and never really the actual creditor
until recently with companies like RJM collections, and other "bulk"
collectors. This was a new technique I have never tried until
tonight, so I have some mailing to do tomorrow for my husband.
lol
Well, I hope you have a great night and
if you need any help. Let me know and let me know if you get any
success.
Thanks again for your always
interesting and informative posts online. :)
I
have two items in collections. I have had people tell me not to pay
them off because it wont help my credit. They are already 3 years
old and they said that by paying them it will only make it worse
because they will turn into a current delinquency. I am trying to
raise my credit score and since three years ago when I got in this
mess I have closed credit card accounts, paid off loans, and gotten
the remaining balances down… the only thing left to do is to decided
whether or not to pay the collection accounts. Do you think I
should?? And will it help my credit score?? If so how soon will I
see the results?? And how much will it help??
-------------------
Negotiate before you pay, to have it removed,
if you pay in full.
If not pay it anyway,
but ask to no activity date change only a paid in full.
It always helps in the long run to pay off
stuff. But keep do not close credit cards!
