Quote:
Originally Posted by T_C  Hello all,
I'm so glad I found this forum. I just started the lengthy process of cleaning up my credit report and have been at it for a few months. I paid a company at first, way more than I should have, and they didn't do much. Now I'm trying to do it solo and I'm pretty excited because I've seen some results. I'm really hoping to take advantage of the first time homebuyer credit this year, so I want to buy a home before Dec. 31st. My credit is still pretty terrible, but I'm hopeful.
Any suggestions or advice would be greatly appreciated. Here's a rundown of what I've done so far:
-I've disputed information with the CRAs and had a few things deleted from my report. (Two rounds of that, currently waiting on the last updated report from one agency)
-I've requested validation from two CAs that are reporting on my credit report, sent letters via CMRRR and got the RR back last week. I requested that they send validation within 7 days. I'm not quite sure what to do if they don't send validation. Should I send a copy of the letters I sent to them to the CRA with a copy of the RR?
-I've negotiated a pay for delete with one of my CA, got the deletion letter in the mail yesterday. Should I send that to the CRA and request it be deleted immediately?
-I paid off two collections, one of which has been on my CR for a while, and was told they would update that account as paid in full, but not delete it (which stinks). I will probably dispute it with the CRA.
I also monitor all of my reports with TrueCredit. As I said, any information or suggestions would help. It's a long shot on the house by the end of the year, but I really want to try to do it.
Thanks again! |
Welcome TC
Looks like you're already on the right track!
One thing I wanted to ask is have you opted out and updated all of your personal info with the CRAs? If not, you should definitely do that since you are just starting out trying to repair your credit.
It would be unlikely that a CA would validate within 7 days. Most DVs give them 30 days. Thing is......there is really no time limit they have to adhere too unless you are doing a 1 2 punch (and that is with the CRA that they HAVE to respond in 30 days or it gets deleted from your CR)
So, give them about a month and if you don't get a response, try a DV2 (there is a sample in the dispute letters thread).
The CRAs will not usually delete just because a CA hasn't validated the debt with you (they won't take our word for it). The only way to get a delete is by the FOI (furnisher of information) deleting it or by their lack of response on an investigation.
On the CA that sent you deletion letter......way to go! I wouldn't send the CRAs that letter just yet. If you've already paid the debt, give it some time. You can dispute it if you wish but you need to give it at least a couple of weeks. If it still hasn't been deleted, then contact the CA and ask them why it hasn't been removed.
And yes, for the 2 paid collections.......best to dispute those. Another thing that might work is calling the CAs and just bugging them about it. Talk to as many people as you can and annoy them until they will agree to delete it. lol......they've got your money and probably won't want to deal with you anymore.........so now you're just wasting their time. kwim? (I've had luck doing this.....and you have nothing to lose so it's worth a shot)
If you keep at it and stay persistent, it
can be possible to get into a home by the end of the year. I've seen people raise their scores very quickly. It depends on your situation and also motivation.
You're doing great so far.
Don't forget that not only do you want to remove all of the derogs but also pay down balances AT LEAST below 50% of your credit limit on your credit cards........and also start getting some new positive TLs. That will also help your scores go up.
HTH