Credit Repair

[RepoMan31]

Hi, my name is Frankie and I am new to this credit board. I have only been here for a couple of weeks. I first got into this because of wanting to build my business credit seperate from my personal since my personal was UGLY::::: In getting involved in all of this I've since wanted to actually clean up my personal credit as well as build my business credit. I looked all over and came up with Hiring the Lexington Law Firm to get my credit cleaned up. However, I have been told by several people on here that I don't need them that i could get people on here that would be willing to show me and help me to get this process done. I would be grateful if there is anyone out there that would be willing to offer their advice and HELP ME to get me out of my credit score night mares. Please PM me if you have any advice or are willing to be a mentor. I want to do this so bad. I am tired of being a failure in the eyes of my wife and kids and grand kids. PLEASE PLEASE PLEASE PLEASE HELP ME:::::::::::: Thanks, Frankie

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[Analysis]

We can't help you without you helping yourself.

 

• 
   
  
• Have you obtained recent copies of your three credit reports through the US Mail?
  
• If so, how many credit accounts are derogatory on each CR?
  
• What is your state's legal SOL?
  
• Have you any active, current, and well used credit accounts?
  
• Any medical collections?
  

[RepoMan31]

I do have copies of my reports. Also, I do not know what my state's legal SOL is but will try and find out. If anyone knows what the state of Tennessee is please advise me. I also do have some good and current credit on my profile with a couple of bank loans paid off. However, My scores are as follows:

 

 

TransUnion Experian Equifax

Total Accounts: 14 19 17

Open Accounts: 7 1 6

Closed Accounts: 7 18 11

Delinquent: 1 2 1

Derogatory: 10 14 12

Balance's: $8648.00 $46339.00 $21135.00

Payments: $1497.00 $10.00 $2074.00

Public Records: 1 1 0

Inquiries(2 YEARS): 1 1 0

 

And yes there is a couple of medical bills on there as well. I hope this information will help someone to be able to help me. Again, Thanks for all of your help.

[disnugaswagg]

name the accounts and the status (charge offs, lates, balance) of each account so that we know what needs to be tackled first....

[Analysis]

OK, this gives us a starting point. Those are not your scores, they are your reports. Scores are always three digit numbers, usually in the 400-800 range. Most times, with reports like this your scores will be in the 500-600 range.

 

First, LEGAL SOL for the state of Tenn is 3 years since the date of the last payment you made to each account. What does this mean to you? The state in which you live allows you protection from any lawsuit for any credit card account where you made the LAST payment before March 2009. So if you made the last payment to account # 1 in late 2008, a collector or creditor cannot sue you for that account. 3 years is the shortest SOL in the USA, so consider yourself fortunate in that way.

 

Medical collections are very unique. FEDERAL laws, not state laws, protect you in very specific ways. Look into the medical collections forum on this site for details on everything medical, dental, eye care, etc. Use this forum for any of the medical collections.

 

My personal opinion is the first thing to do is delete old addresses from your three credit reports as it helps with deletions if you do it first, then dispute with the CRA's. In the meantime, read about the 1-2 punch, the Jack Attack, validation (AKA Debt Validation, or DV), the 623 letter, etc.

 

If I were you I'd begin to " triage " your accounts, separate them out into categories: medical, credit card past SOL, credit card within SOL, etc. To determine SOL, you are looking for the last payment, so it varies from account to account. Then, most people choose a course of action for each category, like send DV letters to the accounts showing as owned by a Collection Agency, etc.

 

That'll get you started, eh?

[Analysis]

Read post # 5 for my explanation of why disputing addresses first will likely help you in getting deletions:Address deletion, step one

[RepoMan31]

Almost all of my bad listings on my report are from 06,07 and 08. However, there are several from 09,10 but several have been reported in 2012 but were all done mostly in 06,07 and 08. So if the SOL in Tennessee is 3 years then when I hired Lexington Law why did they not tell me this and move forward with that approach instead of sending letters to the CRA"S and lender's. How do you go about doing the address deletion and since I have hired Lexington Law would me doing this go against what they are doing and mess things up more for me or what.

 

Here is some example's of things on my report:::

HSBC Bank C/O in March of 07

 

Plains Comm C/O in June 07

 

CreditOneBank C/O March 07

 

First Premier C/O March 07

 

HSBC Ban C/O Feb 07

 

CCS/First Nat. Bank C/O Jan 10

 

SanTander C/O Feb 10

 

Tn Comm Bank Open but never paid on this account at all but supposedly opened in 08

 

Portfolio Rec 04/08

 

Portfolio Rec 05/07

 

AFNI 12/10

 

Nationwide Rec 08/09

 

Mid South CB 12/08 Medical Bill

 

Cons Rec Sys 02/07 Medical Bill

 

LHR 11/11 Capital Card Services

 

AFNI Bloom C/O Feb 09

 

LHR C/O Feb 10

 

LVNV C/O Nov 11 They state unknown credit and I don't know it is either

 

Portfolio C/O Feb 10

 

State Tax Lien 07/04 but states amount owed 0

 

 

With all of this info what is your suggestions as to how to proceed with this. Please let me know. Thanks, Frankie

[Analysis]

Address deletion basics:

 

Click here

 

Why did Lex Law not tell you this? Because it is not in their methods. One of the over riding themes in their methods is: If it takes time, we can bill you for months worth of payments while we are " working " on your credit.

 

They use a small portion of the methods available, and you just discovered one of ones they do not use. Chalk it up to experience....