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Credit 101- (very) basic introduction

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90 replies to this topic

#76 fizgig

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Posted 09 November 2004 - 10:41 PM

Thank you Alex for this excellent source of information. I spent hours searching the World Wide Web to find the abbreviation of CMRRR with no luck. I found this website by accident I believe. Thanks to you, I can relax and stress less. I appreciate you taking the time to explain these abbreviations to us Noobs (to the site at least).


Credit Terms:

CMRRR = Certified Mail, Return Receipt Requested

CRA = Credit Reporting Agency

CA = Collection Agency

OC = Original Creditor

CR = Credit Report

EQ = Equifax

TU = Trans Union

EX = Experian

BBB = Better Business Bureau

CL = Credit Line

ITS = Intent To Sue

CH = chapter

BK = bankruptcy

IIB = Included In Bankruptcy

FTC = Federal Trade Commission

FCRA = Fair Credit Reporting Act

FCBA = Fair Credit Billing Act

DW = Dear Wife

DH = Dear Husband

IMHO = In My Humble Opinion

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#77 Daniel Arias

Daniel Arias
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Posted 12 November 2004 - 05:33 PM

:oops: my credit score its 516 i need to improve but what can i dispute and how many account at thesame time also i have a lots of address on my reports that i have never heard of how can i get rid of them please send me your opinion..............
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#78 Daniel Arias

Daniel Arias
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Posted 12 November 2004 - 05:35 PM

what info should i send when disputing and item on my credit.............
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#79 pryan67


    Mikey, the Life cereal kid

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Posted 13 November 2004 - 08:55 PM

Read the newbie section (this particular thread) first of all...and then continue reading in the main forum...post your specific questions there to get a response...

we can't tell you what to dispute without knowing all the details...
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#80 j23

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Posted 16 November 2004 - 10:34 AM

I need some thoughts on this.

A ca sent off my debt to arbitration, weven though I sent a REFUSAL for arbitration.

That said, in the meantime he has called me a few times and left messages for me to get back to him.

He also tried to get a stay with the arbitration, which was very strange.

Now this scummbag called and left a message on my machine stating that this was XXXX of XXXX Law Firm and you need to cal us right back as we are about to m ove forward on this case!!!

So now I am pretty sure t is is a violation ???What kind???

I called up the scumbag and when I told him who I was, he went into saying he was SO SORRY that he called me in ERROR, and that he had just spoke to my lawyer but my number was sitll in the dial.
I said my lawyer notified you YESTERDAY , and then hung up on him.

I just want to b einformed and I ha ve to say here you seem to know more than the lawyers. : )

So please help.

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#81 I O

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Posted 26 November 2004 - 09:32 AM

Hi all,

I'm planning on getting a new car in the next two years and have begun the process of cleaning up my CR. After reading through some of the threads here, I have a few questions.

1. What does DV stand for?

2. What does "OPT OUT" mean?

3. I have an old account with Sears that has been charged off and sent into collections. The account was originally opened in Illinois, but I moved to Texas 12 years ago, and most of the charges were made here. Which state's SOL is in effect? Not that it really matters, both SOL's are past. How can I use this in negoications to pay off this account? It is the only negetive thing on my report. Should I even bother?

Thanks for any pertainent info.
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#82 pepperoncini

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Posted 20 December 2004 - 11:09 PM

Can a MOD correct the links in this post so they aren't broken (directiong to the old site)?

Or PM me and tell my I'm an idoit and direct me to the sample letters forum?

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#83 radi8

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Posted 21 December 2004 - 05:29 PM

Can a MOD correct the links in this post so they aren't broken (directiong to the old site)?

Or PM me and tell my I'm an idoit and direct me to the sample letters forum?



Good catch! They're fixed now.

#84 mahler444

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Posted 23 December 2004 - 07:21 PM

I keep seeing this, but I do not understand.... what does opt-out mean and why should I do it?

Please help :)
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#85 alexxx76

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Posted 18 January 2005 - 03:34 AM

Another newbie here with a clean slate.
(by that I mean a somewhat freshly ruined credit, with no real trouble yet)

So let me breifly tell you my deal;
Had 730 FICO about 6 months ago.
Lost my job, no savings and the cards were maxed out.
6-7 different trade lines (MC(x3), VISA, AMEX, DISCOVER)totaling about 40k.

They all have been calling for sometime now, and at first I took the calls and told them I'll do my best to make a payment, but they all insisted on "something RIGHT NOW", so I just stoped taking the calls.
I think most just became charge offs, or about to any day now.

The calls have slowed down lately, and I think some sort of legal action may be in the works now.

I do anticipate a pretty good income from the business me and a friend have reicently started with the help of his family, so I may be able to pay this in the next 6-8 months.

So now I'm just looking for advice from the veterans of this site on how I should proceed.

1.Should I negotiate payments and if so, whats the best/smartest way of doing so? Should I do that with the OC or the CA? on what terms?

2.Pay the full amount :rofl: or try to settle for % of the original debt?

3.litigation? (if it gets that far, how to handle it?)

4.(I know its not the most ethical thing, but...) Should I try to get some stuff "knocked off" with the "not mine" plan? (or is it too soon for that?)

I guess what I'm trying to say is, "what do I do now? What would you (the veterans of this site) do if you were in my shoes now? (ofcourse you wouldnt be, with the knowledge and experience you have gained by being here)

Any help / advice will be highly appreciated, thanx in advance.


Edited by alexxx76, 18 January 2005 - 03:44 AM.

#86 alexxx76

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Posted 18 January 2005 - 12:44 PM


Edited by alexxx76, 18 January 2005 - 12:45 PM.

#87 disoriented

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Posted 18 January 2005 - 12:54 PM

I think you should start a new thread in the credit forum. :)
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#88 radi8

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Posted 19 January 2005 - 02:36 AM

As this thread is meant for the new members here, it may not be the best place to post credit-related questions.

Please post questions in the appropriate forum ;)
You'll get more answers that way.

Should you have a correction or suggestion regarding this forum, please email us at admin@creditboards.com
or post in the "feedback" forum.


Locking this thread to prevent further posts.


#89 radi8

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Posted 06 February 2005 - 01:05 AM


#90 radi8

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Posted 22 January 2006 - 12:43 AM

< >

#91 radi8

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Posted 07 October 2007 - 02:58 PM


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