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I'm Bo Majors
I got my
totally free credit report, flipped out, paid bills, asked for
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credit and disputed errors on my credit
report.
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Credit questions.
My credit help blog
I read your website and used a lot of the information you provided and was able to raise my score from 571 to 671 in 2 1/2 months. Thank GOODNESS for your website. IT WORKS!
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Many collections were sold by
original creditors to collection agencies for pennies on the dollar,
years after the date of last activity. When the original creditor charged
off the account, they got an income reduction, from the IRS, for that
year. Collections can not threaten to sue or put pennies on the dollar delinquencies
on your credit report in most duplicate account cases.
SO
Any duplicate
second party debts should be validated as part of
negotiations. Validate
the debt, then negotiate with the legal debt holder. Many collection
companies go after debt that is not legally their debt to collect. Some
collections get sold several times. That's not fair.
Is it legal for a creditor
to sell my account to a collection agency? Can the collection agency
change the date on my credit report to make my 7 years start all over
again?
-
Collection agencies must have the proper legal documents to collect
on
non original creditors past owed debts.
-
Send collection agency's this
debt validation letter if you don't think it is right..
-
Collection agencies often get your debt re assigned thus making one go through double 7 years jeopardy.
- Creditors should not be allowed to
duplicate the same account over and over.
-
Part of me fixing my bad credit was paying everything I owed
and asking for forgiveness on my credit report before I paid in full.
Why
is my paid collection still showing on my credit report file?
How do I get the collection removed completely?
-
A
paid collection will almost never come off my credit report
-
I
must
negotiate
and validate
before I pay.
-
Collections remain on my credit report for
7 years but have diminished effect after 2 years. Keep less
than 2 year old
credit open to raise my
score.
-
Utilities and 30 days late on
car loans or credit cards are pretty impossible to negotiate. Get these
2 years behind me to help my score.
-
Collections show up as collections
unless I negotiate before I pay in full. Just because I pay a
charge off or collection, that does not mean it will come off of my
credit report.
-
Most collections
are:
Rent, phone bill,
electric bill, cable tv, water bill, insurance, doctor medical
bills, rent to own furniture and the like. These show on my report
as a negative only. These are not rated lines of credit.
Bo question blog keyword validate,
negotiate,
collection,
7 Years
How do I get a paid collections
account removed completely? How to get collection accounts off credit
report?
- Wait for 7 years from date of last activity on the collection. After 7 years the account will be removed completely.
- Negotiate creditors for complete removal.
- Pay creditors and ask
them to prompt the collection agency to remove the entry due to inaccuracy to improve my credit.
- If I cannot find the creditor myself, then,
chances are Experian Transunion and Equifax can't either.
- Print Bo's universal credit dispute form
and send it the appropriate bureau.
What am I trying to get from the creditor when I ask a
creditor to remove a file?
-
I try as hard as I can to get a letter saying account is
paid in full, paid on time and in good standing.
-
I use the
letter to dispute the bad credit and follow up on the creditors’ decision to remove errors.
- I check my
credit
report to make sure the account
was removed and my score went up. Best deal to monitor progress and
scores. Cancel anytime.
Will my credit improve if I pay a
collection account?
-
If the account is less than 2 years old and shows a balance yes.
-
If the account is more than 2
year past the date of last activity then, no or not very much.
-
The account will still show as a negative for up to
7 years, this is why it is important to pay and ask for, forgiveness in a business like manner.
-
My credit will improve the most if I negotiate with the
creditor to have my credit report reflect paid as agreed and on time.
These are the best credit help offers I can find that I trust and
use.
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I must have at least 3 open rated lines of credit. These cards
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