Thursday, April 03, 2008

Credit question

I am trying to help my daughter fix her credit and found your site. I preached to her the importance of good credit and now after ruining hers she finally sees its true. And the fact that she had a baby ( my first grandchild) august 07 gives even more reason to try and get things straightened out. These are the debts that she has and has had:
1) Capital One- Credit card in collections- I'm thinking this was in collections now for maybe 3-4 years now. Basically just avoiding phone calls. Not sure where to attack this one.
2) and 3)Two bills in collections from a company that bills for a hospitals ER doctors-both bills are in collections- Have not received any bills from the agency but know they have both been turned over.
4) paid off a collection agency for a bill that the phone company sent to collections
5) Also, paid off a bill that a bank had sent to collections. ( the collections agency said this was prelegal right before I paid the balance off for her so I saved it from being sent to an attorneyand having added fees) They also told me that they had not reported this to the credit bureau. When I talked with the lady from the collections agency I asked if I could get a letter saying that with payment in full they would get this deleted off her credit report. She told me that I would have to contact each credit bureau ( transunion, experian & equifax) and furnish proof that these accounts were paid with a $0 balance and to request deletion from her credit report. I am hoping very much that she told me the truth. That is about all she has in collections and as much as Ive read I still am not sure about all that I have read and what to do about each of these. I am in the process of contacting by mail each credit burea with the 2 paid off accounts to see if they can be removed. If the collections agency is removed from the credit report can that original place that sent her to collections also be removed? Should I get an attorney for her at some point or can I take care of these myself? Also, after 7 years won't anything on there not paid come off?Ok.. enough questions.. Im sure you can't keep up with all the email you get.
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hopefully capital one is not a lot of money and you can pay them off and repoen the same acount with a 300 dollar depositcharge gas only and pay more than the gas bills each month by 25 bucks, after 12 months ask them to only report the last 24 months call the 3 collections and hope you get them before they report to the bureaus.
forget about the paid collection, they will not help you, get that one 2 years behind you. here is a dispute form to do the work for the collection agency. they sound like butts.
7 years and YOUR SAFE, NOT SAFE, SAFE, NOT SAFE
many old bills get recycled through collection agencies.
if they are paid they will come off for sure. if they are unpaid you might find them showing up with another collection agency i have never found an attorney needed for credit help
maybe your state attroney general for illegal stuff but, non of that sounds illegal generally paid collections do not come off unitil 7 years pass no matter what
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So, basically the lady at the collections office lied to me about contacting each credit bureau with proof the accounts were paid and asking if they would remove it? Or can that be done? Thanks for all the good advice. And fast! We can't take care of the credit card just yet but paying it off and asking them to reopen it with a credit sounds good when we do.

I'm sorry for all the questions. But when you said the paid debts will come off after 7 years... is that 7 years from the date they were paid off?
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Usually yes sometimes it can be the date of last late payment

2 comments:

Anonymous said...

After Paying off a collection you can wait a few months and dispute it , some collection agencies rarely take the time to answer a dispute once they have gotten there money, this will cause EQI,EXP and TU to remove the item

Anonymous said...

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