Thank you for your wonderful advice. Even though I've not yet been able to take advantage of anything, I've read the information you have provided and I'm beginning the process of restoring my score.
In #4 of your credit repair advice you suggest, "Negotiate collections, late payments and charge offs with the original creditor. Do not pay before you get a company letter head signed agreement for future disputes." I have a couple of collection accounts for past due medical reported as $1 past due. I sent a certified letter to the original creditor and asked them to send me a signed agreement that they would remove it from my credit report once I paid it in full. Instead, I received a form letter from the "Customer Service Manager" without a signature, saying that they "could not send information tha the account has been paid until after the payment is posted. Once your payment is received and credited to your account the agency will be notified that the account has been paid." Is this form letter sufficient to dispute the account once I've paid it, or should a reclarify that I need a letter on letterhead with a signature saying that they will remove it from my report? I have the money to pay it and the account is less than 1 year old. It is typical of some of the other accounts that I saw on your website. Dr. sends bill to wrong address, so I don't see it until it's too late. Please help.
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i would call
beg
give a reason hope and
ask a amanager but more than likely
that is the best yo can get
and i would take it but first
i would validate the debt legally look for credit help letters on my website
and validate the debts
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Tuesday, July 29, 2008
Negotiate collections, late payments and charge offs with the original creditor
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2 comments:
Hey Bo I was going to see if you could offer me some advice... I am a current college student that currently has a less than satisfactory credit score. Currently, my score reflects a whopping 569. I have the usual student loan debt that I have never defaulted on, a car loan that i have never missed a payment on, a student credit card with a $500 limit and $400 balance, and then one collection item. Even with all the good items on my report, my score is still very low and I am unable to even be approved for a small student credit card used just to improve credit. The negative item was from an apartment complex that tried to stick me with a ton of bull crap charges after vacating and after failed attempts to negotiate a reasonable amount, the complex turned it over to collection. I refuse to pay this balance because they refuse to include any security deposits for repairs, charges for items I can not prove such as $80 for not turning in my keys, cleaning AND replacement of carpet, all which are things I cannot prove. I work hard for my money so paying off this negative balance is serious blood money for me!!! I desperately wish to improve my credit score and remove this item from my report without having to spend any time or money that I don't have in taking them to court.... Any advice?
I am afraid the aparment complex has you in a bind. If the bill has gone to colections, then you may be able to settle for a lower amount. Say .50 cents on a dollar. I would try to setle with the collections company. Then I would get a secured credit card. Which it sounds like you may not be able to do. You have to deposit 200.00 to get started. BUT they report to bureaus and it will help your credit. Here is a negotiation letter and a popular secured credit card.
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http://www.oskie.com/free-letter/negotiate-bad-credit-repair-sample-form-letter.htm
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http://www.credit.com/r/applied-bank-secured-visa-credit-card/af=p39646&ag=
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