 Unable to get credit , what should i do? |
| i recently posted about identity theft , asically since moving into my home last year iv had a mass of letters in my name for debts opened at different addresses all over the country , iv rang all ... |
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 What should i do? file bankruptcy or credit counseling? |
| i called different credit counseling but they tell me i dont make enough to qualify or i have 500 dollar payments a month. i only make 1000.00 a month and i still have to pay rent how can i pay 500 ... |
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 Why are collection agencies still calling? |
| My mom receives 2 to 3 calls a day from collection agencies wanting my sister and we have gave them her new address but they say they cant reach her and they keep bugging my mom everyday. My sister ... |
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 First credit card trying to figure out the game? |
| Im about to recieve a capital one platinum visa. Apr is 19.8%. Im not to worried about that because Im a new resident and have been turned down by everyone . Im happy to finally be approved for ... |
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 Scared to use paypal? |
| im scared 2 use paypal i hav heard really bad things like they freeze ur account. do they freeze your whole amount on your credit card or just the amount they investigate? i have heard some horror ... |
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 Online scam, can someone Help? |
| I just logged on to my online banking and i have a a debit on there for $11.99 From GREATFNNOV. I tried looking this up online but all i can find is TGL GreatFN. Does anyone know or ever heard ... |
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 I co-signed for my little sisters car loan several years ago, which is now in serious default.? |
| My sister lives in Canada, and I'm moving back up shortly. What could be the legal repercussions on her as well as me as a co-signer regarding this debt? If I decided to move back to the USA ... |
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 How much can a debt collection demand from you? |
| I was being sued by a collections company after many hours of reserch to find out who the company was since the company was going by a AKA.I finially reached them by phone I wanted to make payments ... |
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| What credit crunch/recession? |
If everyone did not watch or listen to 24/7 tv/radio to doom and gloom reporting on finance would they:
Just go and buy that new car.?
Have that house Extension built,?
Move house?
... |
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 Credit score of 784 is it good? |
| What does the score do for you?... |
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 Anyone ever been sued for credit card debt??? |
Whats the process like?
I owe capital one $4,000. I will probably have to file for bankruptcy to dodge them or take a vacation out of the country for 5 yrs...... |
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 Best Credit Cards? |
| I have a credit score of 734, Im only 21 so my accounts haven't been open that long. Capital One gave me a fairly large credit line, but i haven't activated it yet, due to the fact that CO ... |
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 I am really scared. I got a number from "2299855545". I feel like it was a scam? |
| They said I won stuff and I will be entered in a drawing. I gave them my Card # and 3 digit # on back, and expiration date. Should I cancel my card?... |
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 $ 20,000 in credit card debt do you recommend I file Ch. 7 bankruptcy??? |
| I had 14 different credit cards charged off 2 years ago for a combined $20,000. The statute of limitations in CA. is 4 yrs so after 2 yrs i finally got a letter from an attorney threatening L... |
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Stacey I | I have $5,000 in collections. my uncle is paying it off.how can i get if cleared off my credit or up my credit |
my uncle inherited a lot of money. he is going to pay off my debt that is in collections. it is about $5,000 dollars. i heard that paying this off won't help my credit score and i will still have horrible credit. is this true and if so, how should i go about fixing my credit? any help is greatly appriciated. |
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∞infiniti∞
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Send the collection agency a "Pay for Delete" letter before you or your uncle pay anything. Below is a sample letter you could use.
Collection Agency
1212 Maple St
City, State Zip
Re: Collection Account for Original Creditor Account #: 00000.
Amount:
To Whom It May Concern:
This letter is to inform you that the validity of this debt is disputed. However, in the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.
If you agree to the terms and accept this agreement, certified funds for the settlement amount agreed to will be sent to you in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.
(Name of Collection Agency) agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.
If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of (insert collection agency name). It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.
Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.
Please address all correspondence regarding this account to:
You
123 Any Street
City, State Zip |
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Dew
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The only way your Credit is going to get better is to pay all your Bills on time and if you do put any more on the credit card you need to pay over the amount is due and on time. |
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anon
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You should kiss your uncle's feet and be his slave for the next year! Boy, are you lucky!
Anyway.... even though the debts may be "paid off" it does not erase your former irresponsibility. Those accounts will stay on your credit reports as negative information for a long time. I believe by law it is supposed to be 7 years from the first date of delinquency, but I may be wrong.
Pay your bills in full and on time and don;t buy stuff you can't afford. That is the best way to clean up your credit. And don't fall for any scam artists saying they can "fix" your credit. There is no legal way to do that, and they will probably just take your money and do nothing. |
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Spock (rhp)
|
time and paying your bills on time and in full will improve your credit score about as fast as you can afford to get any more credit.
the way you do that is work hard and spend low. pretty simple, actually. |
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Nicki W
 |
You can have negatives and other errors removed. Check out the free evaluation form at www.totaldebtsolutionsllc.com --They partner with a true non profit that provides a high quality service for just $125. My mom used them and her score jumped 60 points. Good luck. |
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Veritas et Aequitas ()
 |
Yes, as mentioned by Poster #1 get a "Pay to Delete" in writing. They want their money, period. They will be more than happy to send you a letter stating that the debt was paid in full and they promise to remove any negative remarks from your report. Do that for all the creditors and your score will start to improve very quickly. Do not pay a dime until you have the details in writing, otherwise you have no leverage after that.
By getting that letter you can just send that to the credit bureau's if it hasn't been removed and they will remove it. |
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bryan l
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tell this agency that you will pay 3k and part of that program is that they remove all negitive info, they may counter 4k. but that could be an extra 1k to you.
once you come to a verbal agreement send a letter like this certified.
Dear Creditor,
Re: Account Number
Date:
In response to the mutual settlement between myself and your customer service representative, <phone number>, made on <date>, this is a letter of confirmation regarding the acceptance of verbal offer.
I'm very impressed with your company's kind consideration and willingness to work out the matter with me and help me in all earnest to settle this debt. Your support will be of immense help to me in settling this debt issue which I wanted to resolve for a long time now.
The final amount we mutually agreed upon is $........... I also request you to take into consideration the fact that we also agreed that all my interest rates, late fees or any reference to them are to be eliminated from my credit report.
Keeping in mind my fruitful negotiation with your customer service representative, I hope that the above terms and conditions are acceptable to your company. On accepting my proposals please sign the attached letter to confirm our agreement and forward me a copy of the same with your signature. On receiving your approval letter I will send you a money order with valuation of the amount stated above.
Thanking you in anticipation
Yours truly,
Your signature
Your name |
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sugar c
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1st get a copy of your credit report after He pays all your bills off. Then make sure they all say paid beside them if not contact them and ask them to report that as being paid off. You will have to start slow and small. Get a 30 day loan for a small amount and pay it back before 30 days continue to borrow small amounts and pay them. go to a rent-a-center and ask if they report to the credit bureau and if so rent something small and cheap and pay on time so they will report it. It just takes time and patiences |
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CrackBerry Addict
|
That is correct. Paying of collections won't necessarily raise your credit score.
What you could do is try to get a Pay for Delete agreement in place with the collection agencies. This is an agreement where they will delete the negative items off your credit report if you pay the balance in full. If they agree, make sure to get the agreement in writing BEFORE making a payment.
If they don't agree to that, then try to settle (possibly) for a lower amount if they are willing to do so. |
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wcowell2000
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It will improve your score. In the short term, not allot, but if he start building a positive credit history afterward and don't have any significant issues, then your score can jump dramatically.
Some do's and dont's:
Do:
Pay the balance in full - Do not negotiate the debt down. You will have a tax liability for the difference and it will not help your score. So, it makes no sense to do anything, but the whole thing.
Once you have paid these debts, tell the creditor that you need a need statement, on their letterhead, stating the debt was paid in full.
Last, once the bills are all paid for, then go to www.lexingtonlaw.com. They will charge you around $500 total and they do a very good job of cleaning up your credit. I have not personally used them, but many that I know that have were very happy with them.
Dont's:
Make sure that you pay the original creditor, not a collections company that now holds the debt.
Don't let the original creditor push you back off on the collections company. The reason to not pay the collections company is they are notorious for never showing the debt as being paid and you other liabilities with them. |
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