Broken Credit, LLC welcomes you to Raise Your Credit Score. Our free thirty minute seminar is NOW AVAILABLE and will discuss the following topics:
Why errors exist on credit reports
How to obtain a copy of your free credit report
The proper way to dispute inaccurate items
How to re-age a derogatory account to delete the derogatory history
How to remove collection accounts from your bureau
How to improve your credit score even if you have no bad credit
This free online seminar is for anyone who desires to improve their credit score THE RIGHT WAY. Broken Credit, LLC has seen a tremendous need for the general public to have this information and it is our great pleasure to bring this seminar to you for free.
For those of you who will be buying or refinancing a home, this free thirty minute seminar could make your dream of homeownership possible and save you tens of thousands of dollars in interest!
A few weeks ago you assuaged my fears of a JDB collection on a cc account closed in 1991 running soft inquiries and sending me grossly inflated bills by reminding me i could send them a letter requesting they no longer contact me on the expired debt and warning them i could report them to various authorities if they contacted me for any other reason than to cease and desist. I sent the letter.
In apparent response they didn’t contact me directly, instead they listed this old debt today with a falsified account opened date of 12/03 with Experian. I disputed online as ‘i am not aware of this account’ seeming to be the most applicable from the choices offered by Experian online, if Experian does not remove it, can you remind me of the steps i should take in what order to try to have this eyesore removed from my report? Again, many thanks for your wonderful forum here at brokencredit!
This is a similar “Statute of Limitations” question but I could not find the advice I need with the other blogs. Here goes. I received a letter from an attorney’s office requesting the balance of a credit card that I had (and stop using) nine years ago. This collection dropped off of my credit report two years ago and now out of the blue I am getting this letter. The letter states that I need to respond within 30 days. I do want to respond but I am not sure what to write. Do I write something along the lines of “this debt is over 7 years old”? Or, will I be validating the debt by doing this? I thought this was a debt that was long off my credit report and I don’t want it to re-appear. Any help woould be appreciated.
I just watched your seminar as I was looking for information on re-aging credit card accounts. I’m very impressed by your knowledge as well as your strong character. I did have an additional question though, as my accounts are all current at this time. In fact they have all been current for 12 months except an unfortuante charge-off on a wireless bill earlier this year that I paid. My question though is on re-aging – I have 2 store credit cards with late payments. One has 3 late payments from a year ago and the other has five late payments (over 4 years) the most recent of which was over a year ago. Is there any way to get these accounts “re-aged” or would that not be in their interest to agree to? What if I wrote a letter asking for a “good-will” removal? Any advice is appreciated, please keep up the great work! –Jessica (more…)
This final clip features Evan Hendricks, Editor/Publisher of Privacy Times and Author of “Credit Scores & Credit Reports: How The System Really Works, What You Can Do” – by the way, great book and recommended reading for all. Chairman Barney Frank asks Evan to explain illegal re-aging.
Can an old Credit Card account be Re-Aged if it is listed as “Charge-off” and in the comments box it says “Charged off account, Account closed by credit grantor?
I do hope that you remember my situation. I wrote you back in April, I’ve been making payments to the collection agency. However, the creditor has reported to the CRA the account is “120 days late” & “derogatory”. I’ve contacted the creditor like you suggested and asked them about re-aging the account. The c.s.r. I spoke to advised that they can up-date the account to show that it is “not past due” and show it under “collections” or I can contact the collection agency for a pay off amount. As far as re-aging the account, they can do, but it would show that owe a whole lot more than what the collection agency is showing.
I’m at a lost as what I should do? Would either of these remove the derogatory mark on my credit report?
I just tried to apply for a loan for medical treatment and was denied. This is, of course, quite disappointing.
Just found your site, and I thought you might have an idea about something that is baffling me. Recently, I recieved a letter in the mail claiming that I owe $3000. They reference a previous creditor, and I will of course be insisting on validation. In the meantime, I have also pulled my credit reports and have found (in addition to a new collector tradeline) conflicting information regarding this account. I reside in the state of North Carolina, and I’m trying to determine:
1) What constitutes validity in a court of law? Is it competent evidence bearing my signature?
2) How do I calculate the statute of limitations? I know that in NC it is three years, but I can’t determine when it starts according to my credit reports….
Equifax states the date of last payment was 8/2005, which happens to correspond with charge off in the detail. The account was opened in 1996. It has “Charged off account” in the comments, but “Transfer/Sold” in the activity description field.
Experian displays a status of “Transferred,closed/Account charged off”. They do not report a last payment date, but the reporting detail shows collection 1/2005.
TransUnion shows that the account was closed 8/2002. Additionally, there is a comment “Purchased by another lender”.
How do I determine when the statute starts? As the history detail is obviously not reliable, how is this determined?
One final question for you gurus: How is it legal for something to be “charged off”, reported to the IRS as a loss (function of P&L) for tax credit, and then the same amount be resold to a debt collector? Any insight you could provide would be greatly appreciated!
Hello first and foremost I really want to say thanks for the free seminar I do want to mention that I was familiar with most of the insight offered though I have never heard of the re-aging and I really want to thank you for that being that I’m a loan officer I can really benefit from all this info as well as my clients. I will definitely relate this info to my clients and your web-site. I also want to mention that since there has been a slow down in the market and the production of my business I have encountered some situation were I have fallen behind on some of my financial obligation due to the bad housing market I incurred some lates on my mortgage which of course brought my scores down very steep Ive always tried to maintain excellent credit and will continue to do so however I have to get back on track. My score droped from 740 to low 500 because of lates and high balances. I do think though that I will get caught up and if possible try to see if I can ask for that re-aging because of the fact that my trades are for many years and just these last couple of months have been were I have set back. Once again THANK YOU VERY MUCH for your insight.
Broken Credit, LLC welcomes you to Raise Your Credit Score. Our free thirty minute seminar is NOW AVAILABLE and will discuss the following topics:
This entire site is free.