Real Estate Investors-Remove Bad Credit

Comments(6)

• 
  bigdredd16th May, 2003 Reply

  Good Strategy!!!! Here is something else that might help the readers of tcinvestor if that approach still doesn't work. These two websites go toe to toe with the credit bureas and banks to restore your financial status. Sidenote: I am not an affiliate just passing on good info!
  
  
  
  
  http://www.lexingtonlaw.com for credit repair and http://www.passchecking.com/faq.php#remove to remove negative items out of checksytems databases
  
  
  
  
  They charge a fee of $35 but heh it might be worth itto someone.
  
  
  
  
  BigDredd
  
  
  Peace

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  bigdredd15th May, 2003

  Using Form letters for the reader to use in disputing his negative credit might be a bad idea.
  
  
  
  
  Employees of the credit bureaus are usually the first to analyze new ways that consumers are using to restore their credit files. Therefore the credit bureaus immediately spot these standard forms. Once the bureau has zeroed in on the structure of the form, any such letter will immediately earn a "frivolous or irrelevant" response from the checker. Many times, the credit bureau will see this as a sign that the customer is "yanking their chain" and the checker will "red flag" the client's credit report for future reference.
  
  
  
  

  • 
    DerrickAli15th May, 2003 Reply

    ???BAD IDEA??? "Firvolous or Irrelevant"???
    
    
    
    
    That's Exactly why a consumer should HAND WRITE their requests.
    
    
    
    
    The Term Friv/Irrelev... are VAGUE responses and DON'T CLARIFY a Darn Thing about 2 to 3 lines of information reported as the consumer's TOTAL & COMPLETE HISTORY!?!
    
    
    
    
    If the 'ZEROED-IN' on the Completeness + ACCURACY which FCRA Law requires (INSTEAD of making Arbitrary decisions as to what's Friv/Irr), then Credit grantors wouldn't have to make additional requests(LOXs) or REJECTIONS to Consumers!!!
    
    
    
    
    Also, I suggest CC:ing a copy of the dispute letter to the consumer's State's ATTY General Dept. of Consumer Affairs and/or Cong. Rep./Senator for their District. (And NOTING this fact at the bottom of their letter.)
    
    
    
    
    This will change the Credit Reporting Agencies temptation to deem it Friv/Irr.
    
    
    
    
    Much Success,
    
    
    
    
    
    
    Derrick Ali
    
    

    • 
      bigdredd16th May, 2003 Reply

      Good Strategy!!!! Here is something else that might help the readers of tcinvestor if that approach still doesn't work. These two websites go toe to toe with the credit bureas and banks to restore your financial status. Sidenote: I am not an affiliate just passing on good info!
      
      
      
      
      http://www.lexingtonlaw.com for credit repair and http://www.passchecking.com/faq.php#remove to remove negative items out of checksytems databases
      
      
      
      
      They charge a fee of $35 but heh it might be worth itto someone.
      
      
      
      
      BigDredd
      
      
      Peace

  • 
    serrico16th May, 2003 Reply

    Thanks for the advise bigdredd!!! We don't need to make a bad situation worse!

• 
  DerrickAli17th June, 2003

  [quote]
  
  On 2003-06-06 14:11, tntmoz wrote:
  
  Hi Derrick, My name is Ty and I was hoping you might have some advice for me. It's a credit repair question. I have an open collection that I want to get deleted. The original creditor was Montgomery Wards and I had that one deleted but the collection co. that Bought the account has "updated " their info even though they have no one to go back and verify with. Since they bought the account are they now the original creditor? I know if the info can't be verified it must be deleted. If that's not going to work, is there any way to get them to agree to remove it from my credit file once I have paid them off? Thanks for any help you can give me on this! Ty
  
  [/quote]
  
  
  
  TY:
  
  
  
  Sorry about the delay in answering
  
  
  
  However, try sending a letter with a check with the following written on the back:
  
  
  
  "Endorsement signifies your acceptance to remove or non-rate the account for which this payment is tendered from any/all credit reporting agencies used by your firm."
  
  
  
  
  
  If they cash the check you are entitled by LAW to have this collection company honor 100% to the letter the above request!
  
  
  
  If they should fail you'll have 100% proof of their failure (date of endorsement +date of newly pulled credit report ---4-6 weeks after check cashed)
  
  
  
  This proof is enough to get a breach of contract by the collection firm and include monkey wards as a co-defendant in small claims
  
  
  
  Ask for the amount of the debt to be paid + court costs+ charachter damages(keep the total less than $2500) the Judge will hit them hard for being Greedy + Stupid enough to deposit your check.
  
  
  
  NOTE: I am NOT a lawyer and this isn't LEGAL ADVICE only an example of Tactics others have used to turn the worm so to speak on their creditors!
  

  • 
    pdcoles13th September, 2003 Reply

    What do you state in the letter? For instance, would you state that this is a one time payment to satisfy the debt or something else?