students loans, collections

Hello, I’ve read through your (excellent) site and can’t seem to find an answer to my particular question; forgive me if I’ve overlooked it. Here are my questions:
1. STUDENT LOAN DEBACLE: I recently (before I was credit-cleanup-savvy and knew about negotiating a settlement) paid a collector called “Windham Professionals” over $20,000 to pay off my Stafford student loans in full, which had entered default status. These loans were originally with CALS, then assigned to the CT Student Loan Foundation to collect (I have no idea where “Windham professionals” came from.) The items are now duplicated on my report—the CALS item (original creditor) says “STATUS: Claim filed with government/past due 180 days” and “Recent Payment”: NA. sThere is a similar listing for Sallie Mae Servicing. When I called CALS, they explained that it was “NA” since I didn’t actually pay them, I paid the collection agency. Indeed, the CT Student Loan Foundation’s item lists “Paid, Closed/Collection Account.” A few questions here:
A. Is it legal for them to list both the original debt AND the assigned debt, and only list the one assigned debt as paid?B. Have I screwed myself by paying 20 grand for a measly “Paid Collection” status on ONE ITEM my CR? Now that I have no leverage, is it possible to negotiate that annotation to something more favorable? With whom (e.g. which company) and how would I do this?
C. Do I have any legal claim (even though I’ve already paid) that could improve the situation, since the company I eventually paid, Windham Professionals, shows up nowhere on the report? So confusing!
2. VARIOUS OTHER DEBTS: I have about $10k in various other debts. Most of them are from 2005 or before. I have cash on hand to settle for probably 25-30% of these old debts. I’m confused about whether to validate, dispute, or settle— or some combination of all— different sites and people say different things—you seem to come down on the side of settling if you can to be over and done with things. Which do you suggest and why for a person in my situation? Other scattered issues with these debts:
A. Does the “date of last activity” reset if you call/write to INQUIRE about a debt (e.g. communicate with the collection agency by phone or writing), or only when you PAY on it? In other words, am I damaging my chance to have the item simply fall off in 7 years by trying to settle?
B. Some sites/resources say never call a collection agency; you seem to have had success being straightforward and businesslike. Would you recommend I do begin by calling? C. I understand the basics of settlement but am unsure what the actual steps in “real time” are. Is the correct order of things?
1. Call and offer a settlement account in exchange for a deletion or “pays as agreed in good standing” listing.
2. If collection agency agrees, send them a signed contract to sign and send back to me 3. Wait for item to be deleted from all 3 CRs
4. Send check. (OR are 4 and 3 switched?) I hope this makes some sort of sense and thank you for reading this far. You’re providing an invaluable service to many overwhelmed people! Thanks! \
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you know
the thing for me is to pay and be done with anything that i signed up for
so if you paid something and all it does is show paid.
to me that is fine
now i can go on with my life now if you would like to play hard ball go to court go crazy go to yahoo groups
look for credit repair
and ask this questions there and see what they say
they have made me very angry and a lady called smurf is in my best estimation a totally unstable credit law person she will tell you all kinds of things that are hard to understand but probably have legal merit.
so if you want to sue some @ss
go there. but as for me and my house.
i believe in paying my bills and negotiating for help and if i don;t get it i pay anyway
because credit is a mindset.
it makes you think when you sign up for something.
hey this is really important and a major decision. but on the other debts and collections and redating.
yes that can happen but in the long run and keeping good active rated credit going your scores will leap in 1 to 2 years. if you are upset over no help and unsure about collections
ask the crazy lady. SMURF HANDY tell her bo told you to ask for her by name as she is crazy enough to sue over spilled milk.
and she has no checking account and no credit cards.one hard line super right or left wing credit freak of nature she will give you an earfull of what to do about your remaining debts
she probably would have helped you on that student loan.

CEO of transunion

Dear BO: From the website I assume you are the C.E.O. of Transunion credit report service. If this is correct do me the favor of responding. Allstate is telling me they have received a score of 3 out of 5. 1 is the best. To make a long story short I pay cash, don’t use or have any credit cards, I seldom use a debt card other than to buy food or gas. My life is paid for. So why is Allstate showing a 3 rating.
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no what you smokin
it says everywhere
I AM NOT TRANSUNION but an easy way to find out who they are and what they do do you think a CEO would make a site like that this just blows my mind.

paying cach for everything is S T U P I D
have no idea why people think that gives them good credit
it gives you a credit score of a big fat 0 keep payng cash and read what you shall sow.
dave ramsey is a nice guy giving bad advice.
everyone should have at least 3 open lines of credit reported to a bureau at all times
or you might get smacked around by al kinds of folks insurance
potential employers. get some credit dude

7 years or 10 years on a bankruptcy

I live in Texas. In 1999 I filed chapter 7, at that time I was told that it would be on my credit for seven (7) years. In 2005?? the law changed to allow ten (10) years. I need to find the OLD law were it states SEVEN years. I keep finding the NEW law. Where can I find this on-line or elsewhere? The credit bureau's insist that they will not remove the bankruptcy until 2010.
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bk are diff most states use 10 years for bk's

Creditor not playing fair

Hey Bo, I sent a creditor a debt validation letter as per your advice. They failed to respond within the thirty days required by the FCRA. I sent the letter certified and I have proof that it was received. I sent a second letter to inform them that they have failed to verify this debt and by law MUST remove it from my credit file. That letter was also sent by certified mail. I still havent had any response. What should I do next? Thanks for all your help...Jay Jay
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Jay Jay
i would say dispute the thing with this free dispute form
if that does not do it
Call your state attorney general. and use the the yahooo credit repair board
if you would like to really hammer the collections agency.
these folks bomb collection agencies

how soon is to soon

I Have raise my credit score from a 514, 522and 520 to 610,620 and 620 in 3months. I have paid all my bills, but have three paid after charge offs on my credit report. however been able to open a new credit card...I know that i need three open lines of credit to get a good score, but is it to soon to apply for another card...(I open my card in april)
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i would try it for suremy wife always tells me to get my ostrich head out of the hole

Credit help

I truly have the worst credit in America and I feel hopeless. I have 11 negative accounts. that were all charged off. My credit score is 515. Where do I begin?> and from reading your website. I feel that by understanding the pattern given by you in details is the key concept to making agreements with the creditors but not to push my luck. Do I contact the original creditors or?
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contact em both
negotiate, validate and dispute before you pay. Get sign on company letter head agreements before you pay.
reopen anything that is possible with an upfront payment.
and get new credit started even if you have to pay a secured card to get something going
here is the best bad credit, credit card place I know of

Oh and no you dont
350 is the worst and there are plenty of them so hold your head up

Raise credit score question. Paid off accounts how much will my score improve

I would like to ask about credit scores. my son and I are trying to improve our credit scores. my son paid off all debts on his credit reports ( all three) and I am working onmine too. His score was 515 554 596 mine is 503 520 544 with all paid off do you know how high this will raise our scores. And how long does it take to do so. Thank You so much
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just do not close the accounts
i would hope these are not collections only
if you keep good open, reported, credit cards and car loans.
and this is what you paid off your score could jump into the mid 600's
if you only paid off only collections and have no reported ongoing good credit then your score will not improve much at all.
so get and keep new good credit that has been open for at least one year for best results.

Credit Card Charge-Off Negotiation

I have tried to keep up with credit card payments; however, I have 1 charge-off and 1 collection forwhich I am seeking removal.
I called US Bank to ask if they would erase my charge-off if I paid the balance in full. I told them that prior to an emergency I had honored my commitment to US Bank, but that I had a family emergency that required me to give up my career and relocate overnight.
I was told by a US Bank Recovery Managerthat due to US Bank's agreement with the credit bureaus it could not remove the negative item and that it would only state that it was paid in full.
To request reconsideration I am going to send a letter using your format detailing my family situation and stating that am trying to get back on my feet. Should this not work, what do you suggest? Should I write the CEO, or is there another way? Am trying to get my career back and don't want to be turned down on a job offer b/c of my credit score. Are there any services out there that negotiate pay for delete?
What does paid in full do anyway?
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paid in full helps ALOT over time
say 1 to 2 years
i would go with that
and establish new good credit

My husband and I have past due on our credit reports

My husband and I have a lot of items that are past due on our credit reports and we are finally going to fix our credit. Do you recommend just consolidating everything into one monthly bill or take one bill at a time and negotiate one at a time? Thank you
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thats a case by case study
i would venture a guess
legally validate each debt first
then negotiate each debt, tell them you make one in full payment not a payment schedule
if you cannot find a creditor dispute the accounts
then consolidate all settled and non settled debts

Credit score changes

I am writing to you for some information about my credit score. I have tried very hard to get through the maze or firewall of phone messages at experian without any success. I have an account with them but because I have an online account, when I get my credit updates I don't get a report number and the maze is impossible. The question I have about my credit score is: Why does a credit score drop 6 pts in a month. The only thing I did last month was to apply to an apartment complex for their credit approval. I was approved but according to someone I spoke to on the phone, that one thing cost me 6 points on my credit report. Last year my credit score was 565. There was some old debt and some disputable information on the report, so I went to work to clean it up. Last month my score was 635. I just got a notice of a change in my score and when I checked, I noticed the 6 point drop in the score. I noticed a web page about you and decided to write and ask you if you could help me understand this situation. I hope you can help?
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looks like youve done well
you can take a 6 point hit for inquiries keep rated credit open and below 79% balance to high credit limit. when two years pass from date of last activity
you score will jump if you have good credit going now the average american has a score of 684
so your are almost there
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one other thingif you get an installment loanyour balance to high credit limit will be maxed out until you pay it down to below 79%

My credit score is a 452. How do I raise it?

I have credit score of 452 and I am determined to raise it. I am a little overwhelmed, but my question to you is where should I begin first. Should I start with the most recent bad creditors and work my way toward the older ones. I have some that should be removed this year. Should I let them go? I already went to all three credit reporting places on line and started disputes with those who had wrong info. OK. Thanks for your help.
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i would try hard as hadees to work on anything bad from today back two years dispute anything on your credit report older than that and pray. get new reported and rated credit do what i did to fix my credit report with and how i negotiated a bp oil charge card charge off, if you have anything like thatjust charge your gas for a year to stay out o more trouble. and hope nothing else bad happens to you in he meantime.
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I am getting ready to make my calls. I am going to tell them I would like to settle my account and would they please totally remove it from my credit report or to report as paid in full as agreed. If they agree, I will ask for something in writing say they agree to that? Should I ask them to settle for a lesser amount? Or is that pushing my luck? I also have a car loan and two credit cards that I keep current on, so that should take care of my 3 open credit accounts in good standing. Had them for a little over a year.
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I called my first creditor. (Comcast). I asked if they would send me something in writing and he said that is a LEGAL issue and they don't do that. He said it was illegal for them to remove it. Best he could do would be marked paid in full after I pay it, so I said I would. Is the LEGAL part of his answer true??
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in truth yes
but they could change it and say it was their mistake, if they were asked, which they never would be asked. So legally they can change. most utilities do not negotiate. pay in full or don't. they reall do not care, because next time you go to get cable and they check your credit you are stuck unless you pay. the best ones to help you are collections and charged off credit cards which you reopen with full payment and a extra downpayment to show trust. in the end if you pay the bill you have one less unpaid bill in the past due column
AND
you have reduced your balance to high credit limit ratio. your credit may take a instant hit but it will quickly recover with new good credit that is at least 12 months on the bureaus books

CA (Collections Agency) posted the sold account on my report

I just pulled my report and saw that the CA (Collections Agency) posted the sold account on my report. Is it legal for the original debtor, AND the collections agency post the same debt on my account? Can I get one or the other removed? AND, can they repost it again and again, even if I dont contest it? I heard that after 7 years after the "ORIGINAL" account was posted, that it has to be removed and the CA cant repost it over and over and over.... Please shed a light on this subject via email, and on your site... if I overlooked it on your site, I apologize
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i have a great groups for legality about collections
send this msg herehttp://finance.groups.yahoo.com/group/credit-repair/

i think you have to have a yahoo account
emails i get, say send questions herecredit-repair@yahoogroups.com say bo sent you for legal advice what i would say is no it is not legal

how to stop it i do not know other than disputing, negotiation and paying each off
and debt validation i do know that if it is a collection
AND you do pay

after about 3 - 6 months dispute it and it will probably fall off

My credit got combined with my brothers credit

My credit is combined with my brothers credit, who of course is an idiot and has really bad credit. Whenever I apply for a loan or CC, or even try to open a new bank account, I get rejected. I finally went to myFico.com and got a credit report, found out our credit is combined. Do you have any suggestions on how to fix this? Do I have to contact all 3 credit companies? The idiots at myFico.com could not give me my Experian credit report number so I cannot talk to anyone at Experian over the phone because if I don't enter a credit report number I just get hung up on. Do I need to buy all 3 reports, because freecreditreport.com does not work for me. How long does it usually take for them to fix it? I can only proove to them that out of the 12 accounts on the report 2 are mine, how can I proove to them the rest are not mine? Even though I entered my DOB and SSN for the credit report, it showed my brothers full name and all his crap. Any help would be greatly appreciated, I have to get a loan for next semester and if I can't, I'll be screwed. Thanks!
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what you have to do no matter is this

make a copy of your report circle the errant accounts on the copy

then copy that copy three times

use this dispute form (fill out only the personal info part and write in that your report has been combined) then include, copy of your drivers license, utilities bill, ss card, mail to all the bureaus certified delivery mail

wait thirty days

I have tried to establish new credit and keep getting declined

I have had the same score now for the past 3 years. It is a 493. I have tried to establish new credit and keep getting declined. I have an auto payment that is in my sisters name that i have been paying on for over a year now. I brought receipts in to show them that i was the one making the payments and on time, they said it was not good enough. Because it would not show in my credit report. Any suggestions? I also received a copy of my credit report and alot of stuff on there was duplicates and were sold to different collection agencies. I disputed them and received a letter back from the credit bureu stating that the were validated and proved to be mine. Even after i stated they were dupilcates. I am wanting to purchase a new home with in 6 months is there anything i can do to jump my score up quickly. I have just received a secured credit card as you suggested. But that will only show 1 line of credit.
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and it will take one year to be a rated line of credit
that i dare say it your largest problemthe card reports to bureaus and is not a buy from a catalogue only card i hope for your sake\if they do report to a bureau and it is a catalogue car d keep it anyway for one year.
there are some new places on the internet that will take manual credit submissions.
but i do not think it will help with conventional mortgages as they only use
the big 3 transunion, equifax, experian here is a list i found http://finance.groups.yahoo.com/group/credit-repair/database?method=reportRows&tbl=1i would suggest going asking the board this same question
tell them bo sent you
they know how to deal with collections and duplicates, and i believe they might be of some help with these credit repair on yahoo groups
credit lawyer dole out free help here maybe they can do something for you

College student with charged off verizon cell phone bill

I'm a just a graduated college student, and I got notice from Verizon who handed chanrges on my account to a collection agency. I couldn't pay it in full two months ago, and I called the collection agency the next day, trying to negotiate a payment plan. The only option they gave was a two credit card installments in the same month, or a direct full payment from a bank account. This happened on 12 March. I was in the middle of school work and lab work, and didn't know who to ask, and what to do. The balance is $259. I purchased DSL connection on February 4, 2007, and when I spoke to the representative, I asked several times if the contract is month-to-month and if there will be an early termination fee if I end it prior to one year because I didn't know if I will stay at my current address. His answer was no. The service was terminated by Verizon in December 2007. I paid my bills until September, then I called a month later to terminate the service, in the first week of October. Turns out the service was not terminated, and continued to accumulate charges. They also charged me an early termination fee $79. There was no dial tone in the outlet in November, but I didn't even check in October, and I assumed that they terminated the connection right away. They say they have no trace of my call to terminate the service. I don't know if I can prove that there was no dial tone. In your opinion is it more harm than good to dispute the charge, do I have anything to hang-on to, or should I just pay the full amount? They hired a collection agency, and they contacted me on March 12. It has been one month-and-half and I don't know how to pay the amount so that it does little damage to my credit score and report. I can pay it in full, but I would much rather pay it with my credit card over several months. Please advise!
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i would talk to verizon
beg plead
beg plead
ask for a manager beg plead
be willing to pay in full right then ask for a letter of paid in full and as agreed with no lates and that the collection be removed
signed on company letterhead if they want do the paid in full
pay them anywayand be donebut get something in writing that either the collection or the verizon comes off you credit if possible

Do we close all our credit cards but one or two to get our score higher

I have been doing a lot of reading and still can’t come to a conclusion on what to do. My husband and I have a credit score of 788. We have had a lot of debt but have always been on time. Recently we have worked really hard to get all our debt paid off. I am happy to say that we only have about $7000 left—we have paid off $20,000 in the last few months. My question is: Do we close all our credit cards but one or two? They all have a zero balance, but I don’t want to hurt my credit score. We are going to be applying for a home loan soon and want the best score possible. We currently have 4 credit cards and 1 line of credit, all with a zero balance. What is the best solution?
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i wouldnt close anything out as it lookss good to have a low debt to high credit credit limit ratios accross all your credit cards
788? good gosh dont worry be happy, my credit union used 684 for the best rates some mortgage brokers will maybe go as low as 5.5 30 fixed
but one normally has to pay a point even with a 788. i refuse to pay points
they have these huge fees, 3500 range for 30 yr fixed.
i think i am gonna sell my house in a few years
i got a 5.125 7 yr ballon with figuured on a 30 yr fixed
closing cost 1200 that way when i go to sell i haven't added 3500, plus a point or like 5000 more
and of course
they say no money down or refis, so what, they do is add the fees into your loan.
that really bother me
one needs to decide how long they are going to stay in the house and make correct decisions
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So how do you get out of paying points? One of my husbands (and mine) biggest gripes is the huge fees we are charged when we buy a home. Tell me how to get around that! The loan costs on a mortgage are outrageous.
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points add on to fees to buy down the interest rate on conventional fixed rate loans
i refuse to buy down rate or pay points PERIOD feees on conventionals
ad up, lenders fee 795, title fee 350, credit reports 35, deed search and on and on.
ask em what they are
they add up to 3000 dollars at most lenders but vary
my credit union will do 2800 but countrywide who has my loan called me and said 6.5 fixed with 3500 fees
i called credit union they said 6.0 with 2700
i called tyrone back at country wide and said DUDE
you have my loan now, you emailed and mailed and called me. and you can't beat my credit union. call me back when you can get REAL

i kept asking for lower fees because we plan to sell in less than
she said the lowest fees go with ballons
the bad end is ones credit could go south in 7 years and it might be hard to refi
OR one thing i found out when i refied this house. My friend with mortagage connection tried hard to get me to finance more and pay a point...... i refused. when i signed the paper i saw on one line that said brokers money. he got paid 3500 range as a percentage and would get like half the points had i paid them. it pi...... me off
i think 4000 to finance my home is too dang much. and i refuse to use a realtor for 6 percent. what are they smoking those crazy people. They have this high paying lobby thing. we are stuck until we break em up a little. it is happening as we speak. forsalebyowner.com gets listed in the mls.
this really p..... the realtor lobby off and they are still fighting-----------------oh i got lost.)^^%$#@@ sorry----------------the interest rate could go up and i might pay more money for a refi later since i plan to sell, i will have to refi anyways o i am willing to risk it, matter of a fact i have to risk it if i plan to sell and the fees are half for a ballon an the rate is lower 5.125 rate, 1200 - 1300 fees
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if you plan on staying
get a conventional loan an d pay th least amount of fees and rate you can call a credit union if you have one
a mortgage brokerand maybe your current lender ask each one to break down the fees.
tell them the best man wins, plain as day but with a conventional you will have to pay those fees you can find places that have lower fees tho

Debt validation sent back with only name and address

I sent a debt validation letter to a debt collector.
Got a return letter with my name, and address as validation.
It was not on any letter head and I responded by demanding VALIDATION of the debt and not verification of name, address, etc.
I gave them 30 days to respond and letter was sent certified.
I have received nothing back.
What and how should I demand that all references to this debt be removed from my credit file
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file a compliant with your state attorney general
call the collector and explain what your are, or have done
offer this debt follow up letter
dispute the credit as fraudulant on your creit report.

True Credit score went dowing after paying bills

True Credit continues to show the same scores and the same trending analysis of my "credit available over time" and my "total debt over time" using the same time frame (Sept 06 to July 07). .... I had understood that trending (and credit scores) are recalculated almost daily to give a current reading.
In July 07, I found that my scores had dropped precipitously - probably because I had less than 50% line of credit available for a time. That was the only change on my report from an earlier much better analysis. When I read your advice and immediately paid on my cards, and decreased my credit use to less than 50% . I also received an increase in the lines of credit that I have. Although these should have affected my analysis, the reports seem stuck and still list the time frame as Sept 06 to July 07...
Would you let me know why this is and if there is anything I can do to get a more current analysis?
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first i do not know your score before or after
i would think you do not have much credit or, like less than three plus rated lines of credit
and or some of the credit is local finance company high interest loans
and or you have some new or less than one year on reported to a bureau credit
and or one of your lines of credit of credit show your balance as your high credit limit.
and or some type of collection or charge off is on your credit
and or you have some inquiries that are new or piled up.

past that
i am of not much help
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I compare the report I have with scores of 701, 688, 695
and compare it to the next report with scores of 657, 672 and 681, and I don't see any change except that my available credit was less than 50% and became an issue last July.
That was paid down to at least 50% credit available on my lines of credit and an increase in my credit lines, too. I have no new late payments or charge offs/collections in the past 3 years.
My question is : Why does the trending analysis provided by Truecredit continue to show the same time frame of Sept 06 to July 07? Shouldn't these dates change over the course of 8 months? shouldn't the dates include dates in 2008? The time frame is frozen on the Sept 06 to July 07 dates, and my scores are frozen on the scores of July 07 too, despite much improved credit lines and available credit. Is it normal for scores to remain exactly the same for 8 months, despite certain changes? I just traded in my car and bought a new Prius, too, which does appear on the report...although I see it notes a credit report date of 7/30/07. I don't get it...Thank you so much for your help.
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i guess i would dispute anything not reported up to date
circle everything copies of your reports
say update my records
USE THE MAIL

I filed chapter 7 bankruptcy in 1999 in Minnesota

I filed a Chapter 7 Bankruptcy in 1999 in Minnesota. The bankruptcy still shows on, and affects my credit. It's been more than 7 years. I know some states can show for 10 years, but how do I find out? How can I have it removed?
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i would dispute as not mine
O it is was it too old or an error
Then I would decide what the next step to getting good credit

Can a collections agency add themselves to your credit report?

Can a collections agency add themselves to your credit report? I've already got the original "charge off" from the creditor, but now I'm dealing with an upset collection agency who was upset my last check bounced. They're the ones who forced me and harrased me into writing post dated checks to begin with, they called my work and when I told them not to they laughed at me and told me that I couldn't tell them not to. Now that balance for the amount of the third check is on my credit report too, is this legal?
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the original charge should be marked as zero balance if it was sold to a collections agency you have verified the debt now that you have paid them monies
the collection agency CANNOT sue you as they are not the original creditor
I know they cannot harrass you or call your work over and over and laugh at you I would try to settle the account for much less than the full balance.
most collections are bought for pennies on the dollar. I would try to settle for 50% of less not including any fees or interest.
demand account validation Explain you will talk to them no longer if they do not properly validate the debt.
explain you fill like they are violating your rights and plan to contact your state attorney general if they insist on calling you at work after you have asked them not to
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I've paid 2/3 of the full amount of money the collection agency wanted. The last payment I made was in 2006 and I've changed jobs and gotten a new phone number so they haven't bothered me anymore. But they are still on my credit report. Should I contact them and offer to pay the remainder if they remove themselves from my credit report? Or will doing so only re open the whole 7 year cycle again? The first date of delinquency was 01/2005. I don't want to restart the cycle now that I've "lost them." Thanks so much for having a real website for real people.
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if you want them off your report for good
and you can pay and the account is honestly yours yes
call them and ask them to remove if you pay in full
call from some anonomous phone number one can always take the chance of "losing them"but one also takes the chance of the virus showing up later somewhere else some other way. I always like paying to be done
remember that after 2 years the account will not hurt your credit score
ifyou have good reported and rated lines of non maxed out credit