Ali’s Credit Situation: please advise

[Aliroth]

Hello, this is my first post.  I’ve spent time reading some recommended posts from “start here” but some of it became a little confusing/overwhelming so hopefully I’ve read enough to make my first post.  
 

I first used one of my free annual credit reports in 2016 through Experian and the following information was reported negatively:

 

 

1) 60 days late as of Oct 2013

status: paid, closed. 
 

2) 60 days late as of Sept 2013

status: transferred, closed. 
 

3) Debt collector date opened 9/2014

Status: past due 

 

4) with an old bank account I had a few 30-day late months but was then current and it was never 60 days late.  The last time I was late was Nov 2012.  My account closed in 2014.
Status: paid, closed. 
 

5) sent to collections

collections opened 8/2012

status: past due as of 2015

 

6) sent to collections

Collections opened 8/2013

Status: past due as of 2015
 

7) Past due as of 11/2012

 

8) past due 12/2012

 

9) paid in settlement. last reported 7/2014

10) paid in settlement. last reported 7/2014

11) paid in settlement. last reported 7/2014

 

12) as of June 2011:  transferred, closed

 

 

I used Experian again in 2019 for an updated report.  I likely need some help finding the updated information please.   I printed my report in 2019 and it looks a lot different and it’s shorter.  
 

my current credit score as of today is 672 according to Experian. 
 

I met my figure husband in 2014 and he has helped me a bit but we don’t know all the right answers.  He has a high credit score and since we’ve been married he’s added me as an additional signer on his two credit cards.  We keep our usage of available credit low, usually around 10% and we pay in full every month.  I believe this has helped my rating climb from in the 500s to where it is now.  
 

QUESTION 1)

Now that my score is above 670, would it be helpful if I applied for my own credit card, and linked it to our bank account to pay in full every month, or do I get the exact same credit benefit form being added onto his cards?

 

QUESTION 2)

I read information on this form discussing the removal of old addresses.  I have two old addresses on my account.  I left both prior to 2014.  
On this same topic I have 2 old phone numbers linked to my account. 
I assume I need to keep all of my names (madden names, with and without middle initials Etc) but there’s one name listed for me as Alii not Ali, should that be removed too?

QUESTION 3)

I just looked at my free Annual report from Experian in 2019.  Should I use one of the other 2 soon and see what those reports say? 

 

QUESTION 4)

where should I go from here.  How am I to begin repairing past credit?  I’ve been solid the last half decade so moving forward things will be ok, i’m just still dealing with the past.  Maybe all I can do is wait until enough time passes but I’d be grateful for any advice. 

 

[MarvBear]

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[hegemony]

welcome to CB!

 

first, while you are rebuilding, you can largely ignore FICO scores.

 

second, order PAPER copies of your four consumer credit reports: https://creditboards.com/forums/index.php?/topic/590506-ordering-paper-credit-reports-information-inside/&tab=comments#comment-5623246 and ONLY dispute based on PAID paper reports.

 

third, determine the SOL and DOFD for each of the negative items.

 

fourth, ask questions and then ask some more!

[Aliroth]

1 hour ago, hegemony said:

welcome to CB!

 

first, while you are rebuilding, you can largely ignore FICO scores.

 

second, order PAPER copies of your four consumer credit reports: https://creditboards.com/forums/index.php?/topic/590506-ordering-paper-credit-reports-information-inside/&tab=comments#comment-5623246 and ONLY dispute based on PAID paper reports.

 

third, determine the SOL and DOFD for each of the negative items.

 

fourth, ask questions and then ask some more!

Thank you for the welcome and advice. 
 

some newbie questions:

is the SOL different for all debts and collections? 

If a debt is delinquent and sent to collections, does the SOL start over?

If my SOL is less than a year away, is it better to just let it expire rather than dispute or are reports not removed once they reached SOL and still must be disputed?

 

what is different about the paper copies? Is there information they provide that I cannot access online?  It’s not much money but I’d still rather use the free ones if they are an option. 
 

to repeat a question above, should I be trying to have old addresses/phone numbers removed from my report or is that a later step to take?  Thanks for helping

[Why Chat]

SOL refers to the time limit for being SUED, not to the 7 year obsolescence period for credit reporting.

Here is a link to the legal SOL for each State;

https://whychat.me/States/states.html

Both the SOL for being sued and the 7 year "removal date" do not change when a debt is sent to collections. They both start on the date you were first delinquent, (DOFD)

 

You can get free reports sent to you as paper copies if you want to, they generally contain more data than the online ones.

 

If you wish to you can follow these programs;

https://whychat.me/GUIDEBOOK.html

 

For all NON MEDICAL accounts that are beyond the SOL for being sued use this program;

https://whychat.me/SOL PROGRAM GUIDE.html

 

There is a separate program for medical accounts;

https://whychat.me/GUIDE HIPAA PROGRAM.html

[Burdell]

1. Is the SOL different for all debts and collections? 

Yes -- it can vary according to the type of debt it is and jurisdiction (where you were living when you incurred the debt and since).  In most states there are different SOLs for credit card debt vs. other types of contract debt and loans, but in some states it's the same.  Lots of websites have current tables listing types of debt and their SOLs for each state.  There is a universal federal SOL for cell carrier debt of 2 years.

 

2. If a debt is delinquent and sent to collections, does the SOL start over?

SOL is usually based on the DOFD -- the first date you stopped paying. It does not start over when sent to collections or transferred from one collector to another. But it can be restarted in some states by certain actions, such as making partial payment, acknowledging the debt is yours, etc.

 

3. If my SOL is less than a year away, is it better to just let it expire rather than dispute or are reports not removed once they reached?

YES.  If your SOL is less than a year or two away, much better to let a sleeping dog lie.  If you can afford to pay the debt and are anxious to clean up your credit, some collectors make pay for deletion agreements, but tread carefully.  

 

The SOL for reporting debt is different than the SOL for collecting on the debt, and it is the same everywhere.  The debt will eventually fall off your credit reports, usually 7 years after the DOFD.   Sometimes it's 7.5 years, and sometimes the CRAs drop it off before 7 years elapses. 

 

4. What is different about the paper copies? Is there information they provide that I cannot access online?

They are MUCH more accurate and complete than the digital reports you can get on line.  The reports you get from third party sources, like Credit Karma and MyFICO, are riddled with errors, omissions, and other things.  Only act on the official paper reports you get from the actual CRAs: Equifax, TransUnion, Experian (and sometimes Innovus).  There is no extra cost involved in obtaining the paper reports. You are entitled to one free report per year; some states like Georgia allow you to obtain 2 free reports per year.  And you can get free reports if you are denied credit that you applied for.

 

5. Should I be trying to have old addresses/phone numbers removed from my report or is that a later step to take? 

Depends -- if you have some debts you don't want to pay that are approaching their collection SOLs, better to let it alone for now and tackle the addresses later.  Any activity you undertake with regard to your credit reports, including applying for new credit, can trigger collection activity.  The old addresses are not too important -- worry about deleting negative items first, or let them age off the reports if they are approaching the reporting SOL.

 

Hope this helps.  Sounds like you are on the right path now.  You'll be surprised how much your credit scores improve with time and as negatives fall off.  Be patient -- sometimes it just takes time.  It can be difficult to get negative items removed before the reporting SOL passes.

[Aliroth]

On 3/1/2020 at 11:45 AM, Why Chat said:

SOL refers to the time limit for being SUED, not to the 7 year obsolescence period for credit reporting.

Here is a link to the legal SOL for each State;

https://whychat.me/States/states.html

Both the SOL for being sued and the 7 year "removal date" do not change when a debt is sent to collections. They both start on the date you were first delinquent, (DOFD)

 

You can get free reports sent to you as paper copies if you want to, they generally contain more data than the online ones.

 

If you wish to you can follow these programs;

https://whychat.me/GUIDEBOOK.html

 

For all NON MEDICAL accounts that are beyond the SOL for being sued use this program;

https://whychat.me/SOL PROGRAM GUIDE.html

 

There is a separate program for medical accounts;

https://whychat.me/GUIDE HIPAA PROGRAM.html

If I’m reading things correctly, all my debts have passed my state’s SOL.  

my debt is all non medical debt.  Reading the link you provided above, it got me a little concerned where it says my correspondence could end up in court. 
I read the letter which has a portion discussion the collection agency contacting me, but I’m not receiving phone calls nor emails nor letters.  I did receive a letter a few years ago about one item but cannot find it at this moment, though I did save it.  I’m not being contacted at all now, by any of the items listed in my first post.  It’s possible I find myself in a unique situation.  Might it be best to just let time pass rather than contact the agencies who might start to contact me in return?  Or must I do this to clean my credit report? 

[Aliroth]

On 3/1/2020 at 11:45 AM, Burdell said:

3. If my SOL is less than a year away, is it better to just let it expire rather than dispute or are reports not removed once they reached?

YES.  If your SOL is less than a year or two away, much better to let a sleeping dog lie.  If you can afford to pay the debt and are anxious to clean up your credit, some collectors make pay for deletion agreements, but tread carefully.  

 

The SOL for reporting debt is different than the SOL for collecting on the debt, and it is the same everywhere.  The debt will eventually fall off your credit reports, usually 7 years after the DOFD.   Sometimes it's 7.5 years, and sometimes the CRAs drop it off before 7 years elapses. 

The SOL for my state to be sued has already passed.  As best as I can understand the document I downloaded from Experian,  the 7 year mark should pass for all my debts in just under a full year from today.  
would this mean you’d suggest I do nothing and just wait the year?  Can I apply to open a new credit card?  What if something is still being reported after 7.5 years? 

[Burdell]

5 hours ago, Aliroth said:

The SOL for my state to be sued has already passed.  As best as I can understand the document I downloaded from Experian,  the 7 year mark should pass for all my debts in just under a full year from today.  
would this mean you’d suggest I do nothing and just wait the year?  Can I apply to open a new credit card?  What if something is still being reported after 7.5 years? 

If the 7-year mark for reporting SOL passes within a year from now, I would just wait it out.  You can apply for credit in the meantime, but it would be better if you could wait until your credit is clean. Experian often deletes derogatory items after 6.5 years.  Equifax and TransUnion usually wait 7 years.  I don't think you will experience a problem with negative items lingering past 7 years.

[Why Chat]

You can wait it out if you wish to. 

If you are beyond the legal SOL for being sued you are safe to use the letter program I suggested.

 

If you wish to you can follow these programs;

https://whychat.me/GUIDEBOOK.html

 

For all NON MEDICAL accounts that are beyond the SOL for being sued use this program;

https://whychat.me/SOL PROGRAM GUIDE.html

 

It is very likely that your initial dispute letter to the CRAs will get the accounts deleted

https://whychat.me/initdispltrsol.html

[Aliroth]

On 3/3/2020 at 11:04 PM, Burdell said:

If the 7-year mark for reporting SOL passes within a year from now, I would just wait it out.  You can apply for credit in the meantime, but it would be better if you could wait until your credit is clean. Experian often deletes derogatory items after 6.5 years.  Equifax and TransUnion usually wait 7 years.  I don't think you will experience a problem with negative items lingering past 7 years.

Should I wait until all have passed the 7 year mark until I order my paper credit reports so I can check and be sure they are all gone?

[Aliroth]

On 3/4/2020 at 7:15 AM, Why Chat said:

You can wait it out if you wish to. 

If you are beyond the legal SOL for being sued you are safe to use the letter program I suggested.

 

If you wish to you can follow these programs;

https://whychat.me/GUIDEBOOK.html

 

For all NON MEDICAL accounts that are beyond the SOL for being sued use this program;

https://whychat.me/SOL PROGRAM GUIDE.html

 

It is very likely that your initial dispute letter to the CRAs will get the accounts deleted

https://whychat.me/initdispltrsol.html

All these links and direction you’ve supplied are amazing.  These are very educational and very helpful. If I’m in a situation where I’m months away from the 7 year mark on past delinquency and no creditors are contacting/harassing me, is there any additional benefit to writing these letters other than time? Thank you for all your help 

[Why Chat]

No, if you want to wait it out that's OK. You will save a lot of $$ on postage.

HOWEVER, I strongly urge you to opt out to prevent JDBs from dredging up past delinquencies and poisoning your reports.

[Burdell]

8 hours ago, Aliroth said:

Should I wait until all have passed the 7 year mark until I order my paper credit reports so I can check and be sure they are all gone?

If it's only a matter of 5 months or less, I would wait.  In the meantime, you can use a free service like Credit Karma to monitor activity on your EQ and TU reports.  They will report any new hard inquiries and new accounts or tradelines.  But check your state's laws regarding free credit reports -- some states like mine allow you to get two free copies of your official reports per year.  If that's the case, you can order one set now and your second free set in 6-7 months after all the negatives should have fallen off.  I stagger mine, so I get a new report from one of the three big CRAs every two months: EQ in January, TU in Marc, EX in May, EQ in July, TU in September, EX in November.

[Aliroth]

18 hours ago, Why Chat said:

No, if you want to wait it out that's OK. You will save a lot of $$ on postage.

HOWEVER, I strongly urge you to opt out to prevent JDBs from dredging up past delinquencies and poisoning your reports.

I used your link about opting out to read the NYT article.  Are you advising I opt out so my debts don’t get sold after the 7 year mark and new companies don’t start contacting me more than 7 years later?  Or will this help me avoid new credit offers  fill my mailbox?  Is this different from a credit freeze?   Would you advice people with good credit and no delinquent history also opt out? 

[hegemony]

1 hour ago, Aliroth said:

I used your link about opting out to read the NYT article.  Are you advising I opt out so my debts don’t get sold after the 7 year mark and new companies don’t start contacting me more than 7 years later?  Or will this help me avoid new credit offers  fill my mailbox?  Is this different from a credit freeze?   Would you advice people with good credit and no delinquent history also opt out? 

opting out doesn't do anything to stop debts being sold or CAs/JDBs getting information about it. It only stops pre-screened offers of credit so yes it will stop offers of credit in your mailbox as well as via pre-qualification websites. Of course this can delay 50% of credit repair since adding new, positive tradelines is an important step in improving scores and credit profiles.

[Why Chat]

I disagree with Hegemony on this issue.

It is true that those who have NOT opted out will get offers of credit from various companies depending on the credit worthiness of the person and some may be of benefit to those who are rebuilding their credit, however those with poor credit will get the substandard offers. 

 

In addition to selling your data to companies offering credit, the CRAs also sell your data to data miners who in turn will resell your data to JDBs if a "match" of any of your data comes up in their computer programs. THIS IS WHAT I SUGGEST YOU TRY TO AVOID BY OPTING OUT

[hegemony]

Reasonable people can disagree 

[Aliroth]

On 3/8/2020 at 2:16 PM, Why Chat said:

I disagree with Hegemony on this issue.

It is true that those who have NOT opted out will get offers of credit from various companies depending on the credit worthiness of the person and some may be of benefit to those who are rebuilding their credit, however those with poor credit will get the substandard offers. 

 

In addition to selling your data to companies offering credit, the CRAs also sell your data to data miners who in turn will resell your data to JDBs if a "match" of any of your data comes up in their computer programs. THIS IS WHAT I SUGGEST YOU TRY TO AVOID BY OPTING OUT

Are Opting Out and “freezing” your credit, the same thing?  If I opt out does that mean I’d have to eventually opt back in to apply for a credit card or future loan?  Thank you for explaining 

[Aliroth]

On 3/8/2020 at 1:02 PM, hegemony said:

since adding new, positive tradelines is an important step in improving scores and credit profiles.

Thank you 

[cv91915]

1 hour ago, Aliroth said:

Are Opting Out and “freezing” your credit, the same thing?  If I opt out does that mean I’d have to eventually opt back in to apply for a credit card or future loan?  Thank you for explaining 

Completely different.

 

Freezing prevents new hard inquiries.

 

Opting out only prevents you from receiving pre-screened offers for credit.  

[centex]

On 3/7/2020 at 2:08 PM, Aliroth said:

Should I wait until all have passed the 7 year mark until I order my paper credit reports so I can check and be sure they are all gone?

NO!  Even with clean reports, you STILL want to ensure you are reviewing paper reports on some manner of a regular basis.  It does not need to be monthly or even quarterly, but you definitely want them at least twice annually.  While a monitoring service COULD serve to let you know something was amiss, the paper reports serve as the best baseline if something goes wonky. 

 

Getting your reports does not hit the trip wires some entities subscribe to which alert them whenever there has been a hard pull of the consumer's report.  It is those sorts of alerts that serve to bring out some companies during, for example, a mortgage seeking effort. 

 

Whatever you do, do not subscribe to the levels of paranoia that some espouse as it relates to different elements of report review, repair and rebuilding.  If it were a virus, we would call those sorts of people covidiots.  In certain circumstances, the phone CAN be your friend.  Professionally-styled letters specific to your situation CAN be your friend.  Rebuilding with GOOD cards WILL be your friend.  In other words, as you rebuild, focus on quality and NOT quantity...the "shopping cart trick" espoused by some (often on the My Fako Forums) will leave your reports littered with a ton of crappy cards that have low limits and generally won't grow with you.  Always remember as you rebuild that higher limits beget higher limits...

[Aliroth]

On 3/11/2020 at 9:26 AM, cv91915 said:

Completely different.

 

Freezing prevents new hard inquiries.

 

Opting out only prevents you from receiving pre-screened offers for credit.  

Thank you.  Does my situation not call for a hard freeze?

[Aliroth]

On 3/11/2020 at 9:51 AM, centex said:

 

Getting your reports does not hit the trip wires some entities subscribe to which alert them whenever there has been a hard pull of the consumer's report.  It is those sorts of alerts that serve to bring out some companies during, for example, a mortgage seeking effort. 

If I wait beyond the 7 year mark and all my past delinquent behavior is entirely off all my reports and I have a hard pull of my credit to obtain a new credit card, are you saying it’s possible old debt collectors will find me and my new credit and maybe start asking to be paid old debts? 

[Aliroth]

On 3/11/2020 at 9:51 AM, centex said:

 In certain circumstances, the phone CAN be your friend.  Professionally-styled letters specific to your situation CAN be your friend.  Rebuilding with GOOD cards WILL be your friend.  In other words, as you rebuild, focus on quality and NOT quantity...the "shopping cart trick" espoused by some (often on the My Fako Forums) will leave your reports littered with a ton of crappy cards that have low limits and generally won't grow with you.  Always remember as you rebuild that higher limits beget higher limits...

In my situation, all previous delinquencies will be beyond the 7 year mark in less than 12 months.  Would you suggest phone calls and or letters before that 7 year mark, after the 7 year mark, or neither?  I’m not currently being contacted by anyone.  
 

At what point do I apply for a quality  credit card to start rebuilding?  Once my credit score is over a specific score, or not until the 7 year limit has expired and my report has no delinquencies showing?