[CM_ANGEL]

What I am doing is printing out my report then calling the companies and asking if they will settle for 50%. Would it be easier and better to use a debt consolidation company? Any suggestions???

[mpayne]

Just make sure they take the things off or mark them as PAID on your report after they are paid off. I had a radiology bill that I never received (due to a move) and it ended up on my credit report. I paid it off and it's still there. Now I'm fighting with the credit reporting agencies to get it marked correctly.

I read on another board to dispute EVERYTHING online with the reporting agencies (go to annualcreditreport.com). If the creditor doesn't respond in time, it has to be taken off your report. I did this awhile back and had several old items from my ex-husband removed from my report. (boy, he did a number on mine, but that's another story)

Also, verify all the addresses they have on file for you, or old names that may have been used (maiden names, former married name, etc). I could not BELIEVE how many different names and addresses were on my reports until I pulled copies of them all! Some were just CRAZY stuff that I have no idea where these companies got their information. They were all taken off, btw, when I disputed them.

[Nerthy]

If you can don't go through a consolidation company (Take a loan at your bank or CU instead if you really have too) Those companies will ruin your credit!! Be very careful!

I think you are doing the right thing by calling each company listed on your credit report and try to get a settlement, and like mpayne says be sure they send the right info to the credit agencies and have them send you a proof of your payment by mail so if you need to fix things after you will have what you need on hand and won't have to fight to get it.

[CM_ANGEL]

As much as it hurts, I am using my tax refund. Target clearance is calling my name but I have to be strong!! I am having some good luck calling my self. I got 1 to go down to 50% settled and another at 60% settled. WOW!!

[lifeworthliving]

I read on another board to dispute EVERYTHING online with the reporting agencies (go to annualcreditreport.com). If the creditor doesn't respond in time, it has to be taken off your report. I did this awhile back and had several old items from my ex-husband removed from my report. (boy, he did a number on mine, but that's another story)

This is 100% true. Thats what those credit clean up people do.

You can do this yourself without paying someone else to do it.

Get it in writing to. It took me awhile to build my credit back up.

Once you clear out the old stuff. Get one CC.

(now don't scream ladies)

You may have to get one that you put up $200.00 for $199.00 of credit. I did. Charge small amounts on it each month. Pay the balance off each month, or at least make a few over the mim. payment. That builds your credit back up. DO NOT use this for anything other that what I stated above.

In 6 months you will start receiving offers. Don't take them. But then you know that you are on your way back up.

[Crabbycosmo]

Its best to go through the credit companies, but I do suggest that you get the agreement in writing. I paid off one that I had and even though I had the agreement in writing, they did not remove it from my report until I sent them a copy of it. Sometimes people dont document or they leave the company, etc...

Just be sure to follow up with everyone, they dont get in a rush to change your credit report, that's for sure.

[CM_ANGEL]

OK...I'm not understanding the whole dispute everything thing. What do u mean?

[2vette2camaro]

I also do some of the things you guys are talking about. For example, every 6 months I call and get a FREE report from each of the credit bureaus- TransUnion, Equifax and Experion. And I always dispute any information that is not right or that shouldn't be on there. For instance, years ago I had a credit card with Maurices and when I got it I did not know you had to make a payment every month (I know, I was stupid!!). Anyway, for two months I didn't make a payment and it went on my credit report as a 60 days late report. Well, I disputed it and I guess because Maurices failed to answer they took it off my report entirely.

Sometimes you get lucky, I also had a bad mark for a radiology bill and every 6 months I disputed it and told them it was my ex husband. Finally they just took it off. I think it is totally worth it to fight and dispute the creditors every six months. You are only out a stamp if you do snail mail and some time. I now have almost an 800 credit score and really nothing has changed. My bank loves me.

You can also send in a letter to explain why you didn't/couldn't pay on time, for example someone died, bill got lost, etc. They say it can help.

[marchfree]

check out dave ramsey's website

Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.

[mpayne]

"OK...I'm not understanding the whole dispute everything thing. What do u mean?"

You can view your credit reports (all 3) online. At each site, you can dispute items. If the creditor doesn't reply to the dispute within 30 days, the items HAVE TO be removed from your credit report. On very old accounts, they usually won't bother to respond, thus you can have them taken off.

[CM_ANGEL]

U have got to be kidding me!! omg SO how do I dispute them??? How do I enforce the 30 day thing?

[mpayne]

You just go to annualcreditreport.com - sign in for your different reports, and look for their "dispute item" links. Then just wait. They will email you and let you know the results of the disputes. I was SHOCKED that like 10 items were removed from mine the first time I did this!

Good luck!

[CM_ANGEL]

I want to come to your house and give u a hug right now!! I printed my report out earlier...I hope I can get back into it!

[JennaH]

Dispute things first. If the companies don't respond w/in 30 days it MUST be removed. Also, if they can't provide ORIGINAL contracts, documents, etc, it MUST be removed. It's called "validation" of debt, google that, tons of good info will come up. After all of that, if you decide to settle with any companies remaining, do it in writing first and make sure it says that you will settle for X.XX if the agree to only mark your credit repor as PAID, not paid for reduced amount or anything, that will hurt your credit more, it must be in writing that they will mark PAID only...I've been battling these on and off for awhile for med bills that I've paid etc. It's a pain but it does work. HTH

[mpayne]

CM, I thought about this when I was at the doctor's office just now and couldn't wait to get home to tell you (I actually was wishing I had your number, I would have CALLED to tell you - since you said you were calling to make settlements today).

Do NOT EVER give collection agencies or any of the creditors your debit/credit card number OR send them checks for payment! They can LEGALLY take the FULL amount out of your bank accounts, even if they have given you a settlement agreement over the phone. A girl I work with had this happen just the other day - a collector drained her bank account and the bank even gave them her CDs to cover a debt she had been making payments on!! She ended up with over $800 in fees on her checking account and had to hire an attorney to try and get some of her money back.

Get a cashiers check from the bank or money orders - make copies after they are filled out before you mail them to the creditor.

[mpayne]

Also, remember to get ALL THREE credit reports - they can (and most of the time are) different. Some companies only report to one or two, others report to all three.

[lhart24]

All the above is great advice...

One thing... Since I assume you are wanting to increase your score... if you go to close out credit cards. Dont close a whole bunch at once. This raises a red flag and will hurt your score for awhile. Close 1 or 2, then wait 6 months close another one.

After you get it all cleaned up, do keep one card (preferrably the one with the longest history of good payments). This will help build up your credit score.

Another thing I do, buy an item with 0% interest for a year or two (these are only items I would need.)...Then pay them off X amount every month, but get it paid off in full before the end of the year or two year agreement. This has helped my credit score trmendously. I bought my couch and some furniture this way. It looks like I took out a small loan and paid it back in full. My monthly payments were $75 (of course I had to do this on my own,.. I didnt get the statement saying I owed $75).

[CM_ANGEL]

Well, I paid only 2 today.

1. $569 originally, they had sent me a letter saying that they would take a 1 time payment of $250 to clear it. I did a check by phone. I guess that means I have that in writing. Now I am scared about this one.

2. $71, something really stupid but she took $50 for it over the phone. She sent me an emailed receipt.

3. $865, she told me verbally that she would take $546 right then to settle it but I chose not to. I told her I needed to think about it.

Today has been a dramatic one for me so now I am going to dispute.


Thanks to all of you from the bottom of my heart. I did not know any of this info and I'm sure there are alot of people who are just like me.

[lhart24]

Really once you get it cleaned up.. monitoring it is easy... and you dont dispute nearly as much once it is all cleared up...

You will get the hang of it in no time..

By the way there are credit monitoring software out there.. I will have to look to see which one I have.. but anyway .. Everytime a change is made to my credit report, I get an email. So like when I bought my house, of course they were going to look at my credit report, but I got an email from the report monitor that said the mortgage people did a credit check. I also got an email when I closed a credit card, etc. It makes it nice since you dont have to sign in and monitor it all the time. I will look for the info on it and pm you with the details... I think I got a year free with last years tax return...

[Amidala081499]

WOW, I have a great credit score 742 and I have found things on this thread to be very informative.

I never knew you could dispute info. on your report. Thanks for the information, maybe I can get my rating up nicer.

CM_ANGEL: I did the settling thing too, way back when, and it helped me emensely. The companies were very understanding and being we are in a recession right now, you kinda have the upper hand. They are sooo worried that they will not recoup losses, that you can pretty much name your price and they will accept it.

Too many companies right now are at the mercy of their consumers. So, they have no choice but to work with you right now!!!

Hugs and Good Luck!!!

[CM_ANGEL]

Ok--1 more question...it is asking for a reason when I go to dispute them. What do I put down as a reason?

[Amidala081499]

I imagine you put down the reason you are disputing them. Like...paid balance, disputing because item should have been removed...things like that.

[Amidala081499]

Hey Angel?

Is that site, the one you are on for the credit report filing...Is it a pay site?

Thanks!!!

[SLance68]

www.annualcreditreport.com should be a free site.

Another site with a lot of good info is www.suzeormon.com

[CM_ANGEL]

No, I am on annualcreditreport.com