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Everything posted by Dalton23

  1. So basically I have about 12 old Direct Student Loan Lates through the Department of Ed (each loan reports separately fml), these lates were made because I was irresponsible and never realized they weren't still in deferment. They have all since been consolidated and sold to Great Lakes. Anyhow, I have multiple 90-120 lates on these old student loans and I've found no way to deal with them. I went onto EQ/EX and disputed all lates as "never late". As of now the investigations are pending. After doing more reading today, I've learned that because of my large amount of mass disputes I'll probably be flagged as a "frivolous disputer" and prevent me from disputing in the future with CRAs? Can't someone offer me some advice?
  2. Cap One Platnium: $300 Cap One Quick Silver: $300 Haha was actually super surprised I was even approved for these cards, seeing as I've just now begun my credit building journey (EX FICO 540)
  3. I spoke with my school, it's a bit confusing. Basically there are 3 parties involved...my school, ECSI (handles loans through my school), and a collection agency. Once my loan was defaulted it was sent to a CA, after 2 years, it was transferred to another CA, and now just recently it was transferred back to the original CA. I called the CA and they said my account was closed? I than called my school, they said ECSI has been reporting it to all 3 of the CRA and that it may take time for the CA's system to update since it was just transferred...anyhow I just checked today again and still...no Perkins loan on my reports. As far as how I'm going to handle this. I'd love to skip the whole rehab thing and just consolidate the loan. But it is a huge risk and I can't get a straight answer from any of the parties involved.
  4. @hodap Thanks for your reply Yes, it shows that it's in default on NSLDS. But like I said it's not reporting on any of my credit reports. If I consolidated it (without rehabbing) that'd take it out of default right? Or are you saying, it's not worth the risk...in case it eventually does pop up on my credit report?apparently it's been in default for 2 years.
  5. @SBA I updated my post... I agree, I think my brains overloaded from all the reading I've done so far. About to read psychdoc's credit repair thread. Real quick though, what strategy should I use to get these collections off my CR? I was under the impression a letter requesting validation would be pointless at this time. The collections are from my former university about 4 years ago(registration fee's after add/dropping my classes). The debt has since been sold to a collection company. I have never made a payment on this debt. I spoke to them on the phone and they agreed to remove the collections from my credit report if I paid them, I than asked for a letter stating that in writing and they denied me...so I hung up. Jan. 2014 Fico Ex:450 Current Fico Ex: 580 (after a number of negatives fell off and getting some things deleted via disputes)
  6. @ rslifkin: Hahah I'm pretty motivated, I think this is the beginning of a beautiful relationship. @SBA: Isn't sending out PFD's the only way to have collections removed from my reports? Two of these collections are pretty recent, about 2 years old. @CV: Yes after doing a little more reading I've realized installment loans aren't that important...and also my student loans are basically installment loans. While researching how to handle these Judgments (I'm in Michigan), I came across this law and I'm having a hard time understanding it. From what I'm reading, satisfying a judgment is grounds for "relief from a final judgment". What exactly does this mean, can I have it vacated in my state if it's satisfied? Thanks everyone! http://www.law.cornell.edu/rules/frcp/rule_60 ( b Grounds for Relief from a Final Judgment, Order, or Proceeding. On motion and just terms, the court may relieve a party or its legal representative from a final judgment, order, or proceeding for the following reasons: (1) mistake, inadvertence, surprise, or excusable neglect; (2) newly discovered evidence that, with reasonable diligence, could not have been discovered in time to move for a new trial under Rule 59( ; (3) fraud (whether previously called intrinsic or extrinsic), misrepresentation, or misconduct by an opposing party; (4) the judgment is void; (5) the judgment has been satisfied, released, or discharged; it is based on an earlier judgment that has been reversed or vacated; or applying it prospectively is no longer equitable; or
  7. Hello everyone! I'm new to the forums, but I've been lurking around here for the past few weeks. So it's a pleasure to meet you all, ton's of great info to digest and it's definitely motivated me to right the wrongs of my past. Although I'm still a bit lost and would welcome any of the advice you guys are willing to offer. Let me first start by saying mine and my wifes credit reports are a mess (dumb mistakes from our youth). Both of our scores are in the 500s. Although here report is much worse, she has about $20,000 in civil judgments and wants to file bankrupcy...which leads me to my first question. 1. Multiple Civil Judgements vs Bankrupcty: From what I've gathered, for her situation bankruptcy sounds like the best route. I'm just not sure if it's the best route for me? I currently have 3 civil judgments (default judgments smdh), one of which is paid off (capital alliance), the other two I haven't paid on and owe about $3,000 all together (midland funding and a credit union). I'm not sure how to handle these judgments, seem's impossible to vacate them and paying them off will have zero effect on my credit score? Should I just ignore them? Would I be better off including myself in my wifes bankruptcy and just starting with a clean slate (I've read about ton's of people declaring BK and a year later have a credit score in the 650+ range)? 2. Derogatory Information: (3 collections, 3 judgments, 12 late payments) 3 collections. 2 of them are from my old college (registrations fee's for $200), yet the collection agency has reported two separate collections to the bureaus...both of them are $100? Before finding this board, I called the collection agency, told them I'd pay the debt if they agreed to remove them from my credit report. They agree to over the phone, when I told them I wanted it in writing, they said they weren't allowed to do that (sounds fishy, so I never paid it) My 3rd collection is from a cable bill and is only on 1 of my reports (credit management lp) I never paid. So far I'm planning on sending these CA's a PFD letter. Is this a good idea? Can anyone suggest a good sample letter? The next biggest negative on my credit reports involves ton's of late payments, specifically through my student loans. Originally I had about 10 separate direct student loans through the Department of Education, all of them have since been consolidated automatically by Great Lakes and the old loans have been "closed". Yet, there are plenty of 120 day lates showing up on these old closed loans. What's the best way to handle these? 3. Rebuilding Plan: Before I start sending out my PFD's and disputing negatives with the CRA's I'd like some advice from you guys. Although, the first steps I have taken to rebuild my credit, I applied for an unsecured capital one cc and was approved for 2 separate cards (weird huh)...each with a $300 limit. From what I've gathered on here, having 3-4 credit cards is optimal. So my next plan is to get a secured credit card. Any recommendations? How much should I put on it? Also, since I have no auto loan I was considering a "credit rebuilder loan", so I can have both revolving and installment credit on my report. Thanks for taking the time to read my post! Let me know if I'm on the right path and any advice will be appreciated
  8. Found this board via google...I've been ignoring my credit for about 5 years. Thinking it would be a nightmare to repair, this forum has given me hope! Thanks everyone for all the great info.
  9. Hello everyone, hoping someone can help me out here. I have a Perkins loan (from 2004)...apparently it's been in default since 2012. I just recently found out about it, the strange thing is that it's not on any of my credit reports. The past few days i've been talking with my old school, ESCI (company that handles my school's loans), and the collection agency to try and figure it out (their giving me the run around). My school claims that ESCI has been reporting it to all 3 bureaus...the collectoin agency has said my account was closed? I'm not sure how to handle this. I'd like to consolidate the Perkins with my other loans, but knowing my luck after I do that the defaulted loan will magically appear on my credit reports. Should I play it safe and rehab the Perkins? Or consolidate? P.S (strangely, I have the same exact situation with a BOA collection...CA tried to settle a debt with me, yet it's not on any of my reports?) Thanks!
  10. Hello everyone, I'm new to the site and have been reading ton's of info the past few days. I'm on a mission to restore my credit. Anyhow, I'll start off with hopefully an easy question for you pros So I had a checking account with BOA over a year ago, it was overdrawn and sold to a CA (capital management services LP). Sadly, I ignored the CA's letters and forgot about them. So last week I just received a settlement offer from this CA, asking me to pay $375 of the $750 I owe. I'm more than willing to pay it off, the problem is....this collection/debt isn't on any of my credit reports (nor is the original debt from BOA)? I'd hate to pay it off and than see it pop up on my reports. I'm not trying to awaken any sleeping giants. So how should I handle this? Thanks a lot!
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