Pammila Phillis asked:




Bankruptcy should always be a last resort (see our Debt Relief section for bankruptcy alternatives). However, if you are determined to file bankruptcy but have not done so yet, then please take your time and don’t rush the process – it is more important to ensure that all your bases are covered rather than to make a mistake that may cost you later.
Obtain Credit Reports. You absolutely need to obtain your credit reports from the three major credit-reporting agencies (Experian, Equifax, and TransUnion). Fortunately, you can conveniently obtain all three of your reports online in only minutes. 1. With the reports direct from each bureau you will have access to a file number and a phone number needed for accessing customer service. 2. You will see the addresses for each creditor on the credit report. If it is not there, then you can call customer service to ask them to provide you with the missing information. 3. When you call the bureau you can ask them to provide you with the phone numbers for each of the companies showing on the credit report. Get Updated Information. You need the most up to date information you can have when filing for bankruptcy. 1. Call each creditor and ask them how much is owed and for the address where payment should be sent. 2. If they don’t handle the account, then ask them for the name and address of the collection agency that will take payment. 3. Call the collection agency and ask them how much is owed and for the address where payment should be sent. 4. When dealing with creditors and collection agencies don’t let them bully you or upset you over outstanding balances. Just collect the information you need. All you have to say is, “Thanks. I will call your company back soon regarding this matter.” Don’t give them time for a rebuttal – just hang up. If they push the matter, then only as a last resort tell them you will be filing bankruptcy. Give them the name and number of your attorney and end the call. Some companies will take this as a reason to step in and offer a settlement to reduce the amount owed in order to get you to pay. And sometimes people do call creditors and suggest bankruptcy just for this edge in negotiating a settlement, even when they don’t intend to file. You absolutely don’t want to use this tactic if you are going to follow through with the bankruptcy. They will try to default your bankruptcy petition if they can. Identify All Accounts. It is important to identify all of your accounts. 1. If you don’t see a creditor or collection agency on the credit report you know for a fact you owe money to, then you need to find any billing statements or collection letters you may have received. These statements and letters will have necessary address information and phone numbers along with amounts still owed. 2. If you have no such information, then try to skip trace online to locate these companies. I personally like using this site for look up: http://www.bigbook.com/ You don’t have to know what city the company is located in, but definitely try to find the state. 3. If that is still not helping, then you can also try the Better Business Bureau site: http://search.bbb.org/search.html Make a list of accounts for your bankruptcy attorney. Your attorney will need the addresses, balances, and account numbers to complete the bankruptcy papers. If there are creditors that you want to continue paying, then it is very important at this time to tell your attorney that you want to offer reaffirming on the debt. The attorney will then send the offer to the creditors you have selected who must accept it. Then the judge must accept the offer too. The creditors will continue reporting the balance owed and show the status “reaffirmed” on your credit report. All other creditors depending on the bankruptcy: 1. Chapter 13. Once discharged then the balance will show as zero. The public record listing will remain 7 years from the file date. The accounts included in bankruptcy will remain on your credit report 7 years. 2. Chapter 7. Once discharged then the balance will show as zero. The public record listing will remain 10 years from the file date. The accounts included in bankruptcy will remain on your credit report 7 years. For further information on reporting periods please review the Fair Credit Reporting Act at the Federal Trade Commission web site, http://www.ftc.gov. Other recommended reading is the staff opinion letters regarding reporting periods. Usually prior to filing bankruptcy defaulted accounts go into collection or charge off status. The creditor stops reporting account information to the credit reporting agencies and turns the defaulted account over to a collection agency. The collection agency then picks up on the collection efforts and will from that point on report account information to the credit-reporting agency. The creditor is taken out of the loop. Because account information is now handled by collection agencies instead of creditors, by the time your attorney sends your creditors notice of the account being included in bankruptcy, it is typically no longer “in their system” to properly notify the Credit Reporting Agencies to update zero balance and include in bankruptcy status. Creditors have the means and responsibility to manually update account information with credit reporting agencies. But at this point no one is requiring creditors to change their policy and address this issue. If you have a complaint, you can do the following: File a complaint with the Federal Trade Commission. They regulate the Credit Reporting Agencies. File a complaint with your attorney generals office. File a complaint with the regulating company over each of the creditors. Your bankruptcy attorney can file complaints against creditors who do not report accurately.

When creditors don’t update account information with the credit reporting agencies, then you get an incorrect credit report that still shows you owe on the accounts in question, and that they are currently in collections or charge off status when in fact they are not.

The problem with this is that if you apply for new credit after your bankruptcy is discharged, then you are likely going to be declined because the new lender will assume that you still owe on the debt.

The clear, quick way to fix this problem is to:

1. Obtain a copy of your bankruptcy and discharge papers from your attorney or the courthouse. This may include a copy fee.

2. Make three copies of the section of papers that list all of the creditors and collection agencies that were included in the bankruptcy – usually this is called the Schedule F.

3. Forward these documents along with the discharge to all of the credit-reporting agencies (listed below) requesting that each creditor included in the bankruptcy be updated to properly reflect a zero balance with the status included in bankruptcy.

Experian

PO Box 2002

Allen, TX 95013

Equifax

P.O. Box 740256

Atlanta, GA 30374

TransUnion

P.O. Box 1000

Chester, PA 30374

4. Be sure when mailing correspondence to the credit reporting agencies to include a copy of your driver’s license and mail “certified return receipt requested”. This will ensure disputes are processed with little delay.


Finally, if you have a creditor or collection agency which is not honoring your bankruptcy and continuing collection efforts, then be sure to contact your bankruptcy lawyer. Give your lawyer the name and address of the company bothering you so that he or she can send them official notice. Follow up with the lawyer if the creditor persists in harassing you. It is a violation and they can be held accountable if they don’t cease after notification of the bankruptcy.

As with all consumer issues, knowing your consumer rights throughout the bankruptcy process is essential. Taking a proactive approach at the onset of the process will help you on your “road to credit recovery”.

Vincent

Aubrey Clark asked:




The epidemic of home foreclosures, higher gas and food prices have stretchered the average consumers budget to the max. According to Trans Union and Equifax, national credit scores are steadily dropping at a higher rate than they have seen in the last decade. As a result of the lower credit scores large ticket items, like homes and automobiles, have began to slow down fueling the current recession. At Direct Banc, we thought a few credit bureau repair tips might be in order, here are the steps we recommend consumers follow.

Become Familiar with your Credit Report – Having a credit bureau in hand is essential if you are serious about credit bureau repair. There are three major credit reporting repositories (Experian, Equifax, Trans Union), each reporting their own version of your credit. It almost certain that each of their reports will differ from the others. For this reason, you should get a 3 in 1 credit bureau report before you begin your credit bureau repair. Validate all Negative remarks – We suggest that you send a validation letter to every creditor or collection agency that is reporting negative information about you. Send these letters BEFORE sending a dispute letter to the credit repositories. Creditors/collection agencies are required to validate the legitimacy of your debt and their relationship to the debt. If they are unable or unwilling to answer your request for validation, the credit repositories will likely remove the remark. Dispute Invalidated Items to the Credit Repositories – Wait 30 business days from the time sent the creditors a letter of validation. Once this time frame has passed, you can send a dispute letter to EVERY credit repository showing proof (certified letter receipt) that the collection agency failed to respond to your request. This will usually result in the removal of the remark. Stop the Collection Agencies from harassing you -Once you are back on the collection agency’s radar, they will most likely begin to actively collect the debt. We all know how annoying that is; all you need to do is send them a “stop harassment” letter that basically tells them to leave you alone while you are working on the debt. Dispute Valid Debts with The Credit Repositories – As we mentioned earlier, collection agencies have to prove that you owe the debt to the repositories. Even though you may actually owe the debt, or deserve the negative remark, some agencies are unable to back it up. If you send a dispute letter to ALL of the repositories requesting an investigation the collection agencies are compelled to answer them. If they do not answer the repository in a timely manner, or they offer unsatisfactory proof, the remark must be removed.

This list is just a partial explanation of how to thoroughly repair your credit bureau. We have a tutorial underway at Direct Banc that will give you a detailed, step by step break-down of credit bureau repair. We also list a comprehensive assortment of pre-written sample credit repair letters that are free to download to help you with all of the validations and disputes.

Keep in mind when attempting credit bureau repair, the credit repositories are your friends, being rude or disrespectful to them will not help your situation. The collection agencies, not so much, it’s best to deal with them by mail. Remember to send ALL correspondence certified, return receipt mail; it’s worth the two bucks. Keep all receipts and letters, you WILL need them in the future when the collection agencies sell your debt to penny brokers.

Stephanie

Ashley asked:


I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.

I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.

My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.

I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.

My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.

Also should I list all three accounts on one letter to each bureau?

Lucille

joecseko asked:


I was hospitalized late last year for a period of 4 months.Due to a lack of income I was eligible for Medicaid.My Medicaid number was given to all parties who treated me after I got out of the hospital.By the time I got around to checking my credit reports there was negative information posted by collection agencies before I even got out of hospital.I’ve given my number to the worst of all of these companies ACB Receivables Management.They still insist I was not covered when everyone else has already received their payments and refuse to remove the negative information even after I presented them with a letter from NJDHS that claims that I was covered during the time that I was reported for.ACB still insists that I was not covered even though I’ve given them proof that I was and edicaid covers all of the treatments that I received.Mycredit score has dropped to below 600 and this is the only negative information on my reports.I’ve disputed with all three bureaus and they will not remove
Thanks for the suggestion about office of the Attorney General.They’ve done nothing at all and ACB was reported to them months ago by me on this matter.I’ve also contacted the FTC who says that they don’t handle this kind of thing.
UMMM.I did clearly state that I’ve disputed it several times with all three bureaus.So doing it for the third time really won’t help will it.ACB continues to respond that the debt is valid
BBB is a joke too.They just take money from companies that belong to the BBB and hide the complaints so that the companies will still pay them.

Nicholas

devisissy asked:


There are five 11 year old debts on all three of my credit reports. Default dates are past the 7 year mark. I’m surprized they have not come off my credit report. What do I do to get them off? Do I write the credit bureau or the collection agencies?

Also I noticed on two of the accounts that were late but since paid off were sold to collection agencies. For example. I bought a bed and the credit line was through Wells Fargo. I defaulted pretty bad on the debt. About three months. Then after I got a job I paid off the loan, the whole thing. Well what it appears is that Wells Fargo sent my loan to a collection agency during the time I defaulted, but I received no notice. They certainly didn’t tell me when I paid the debt off! How do I go about getting those two removed?

Joe

creditfaq asked:


Credit Report Advice?

I was checking my credit report because a college I applied to have information stolen. On my credit report was an unpaid medical bill. This be not my fault. My insurance company didn’t retribution the bill because they weren’t convinced I was still a student. We faxed them the required documents and they said everything was fine. We call the doctor and they were supposed to rerun the bill. They didn’t and after sent it to a collection agency. I didn’t get the mind they did that until after the month I had to contest it. I enjoy tried to get them to re-run the bill next to my insurance and they won’t take my call or call me put money on. Now I have this blemish on my report. Should I try and contest it, a moment ago pay it and hold be marked salaried, explain it, or just pay no attention to it. The bill is for $127. The only other item I have is my credit card, which shows no behind schedule payments.Thanks!

Credit report and collections frustration!?

Okay … I have a handful of bills from assorted companies in collections. I am getting married and will soon hold a bit of money to pay some of these things rotten … The problem is I can’t locate some of the accounts! Just for ONE company, I have call them 3 times and have be to 3 different collection agencies and make 4 more call … and NOBODY has my statement! Basically there is zilch anyone can do … SO … my question is, what does a credit report contain, can I bring on for free, and is there a course I can get a report of adjectives of the bills, companies, and amounts that are currently affecting my credit score? HOW and WHERE? I live surrounded by MA, if that helps … Thanks!

Credit Report Duplications?

Greetings all,I not long viewed my credit report and I see transactions that may own been sold to and another company 2 and sometime 3 time over. How do i bring the previous sold one removed so I know which one to pay sour.Thanks

Credit report fraud “flags”—is at hand a irrevocable or long possession one?

A family contestant was just now a victim of identity burglary and since he is related to me, there is a accident some of my info could have be acquired. I be offerred a 90 day flag on my credit reports but someone at work mentioned that a few years put money on, they had a more long permanent status “flag” or something like that put on their credit reports to support prevent identity theft. Does anyone know anything roughly this? The credit reporting agency said 90 days should be enough, but I am skeptical.

Credit report grill?

Is it true that when you dispute an item on all 3 bureaus, that if one delete it, the other 2 have to as very well? Also, how long does it take to bring your evaluation up if it’s deleted?

Credit Report HELP?

I obtained a credit report for myself and matching Credit company reported the same point 10 times on my report. is this against some kind of imperative? anthing i can do. I have call them many time near no help.

Credit Report LVNV?

I’ve seen adjectives these postings about LVNV and I don’t know how to start. I checked my credit reports and they all record a debt to LVNV for a collection from a Sears account. The strange entity is that I opened two Sears accounts surrounded by the past and enjoy one in current repayment. The two Sears accounts currently appear contained by my positive, never late piece and the one in current repayment is down nowhere in my reports. It have never been behind time and the account number contained by no way match the one LVNV is stating as part of the collection. Do I dispute this as ID mugging to LVNV or forego speaking to LVNV further? I am confused.

Credit Report Need Help Getting One?

I’ve tried Free Credit Report.com and annual credit report and they both didn’t give me one. I requirement a phone # for one of these places because I’m trying to pay it past its sell-by date ASAP.

Credit report problems, freeze on my tale? Fraud alert?

I went to AnualCreditReport.com for a free credit report. My fiance and I are going to be going to the mound to look into a mortgage, and I figured presently would be the best time to take a look at my credit report. I own had a credit card since 2005 and I pay packet it off pretty much as soon as I use it (sooner than the “earnings by” date)..So I think i’ve get to have wearing clothes credit.After filling out some information on the annual credit report site I chose to run through equifax to get my report. WELL something popped up maxim that It looks like a mortgage be taken out in my entitle in May of 2003. !?! In May of 2003 I have just turned 16! I couldnt hold possibly taken out a mortgage! It asked me to pick what lender i went through for the mortgage and obiviously i picked none of the above, and afterwards it asked me what my monthly scheduled clearing for that lender is and AGAIN i picked none of the above. (because I dont have a mortgage, nor do I reward one every month.) more coming…

Credit Report Question?

I have roughly speaking $4,000 of deliquant accounts on my credit report. 2 of those are credit cards and the others are just irregular bills.If I pay adjectives of those off how long will it whip for them to come off my credit report so I can start making my credit better? I dont want ANY criticizim at adjectives! Just help. I be never told the importance of credit…Now that im 22 I immediately know! and want to make it better. Please impart me advice on making it better also if you can. Thanks

Credit Report Question?

If someone runs my husband’s credit report, will my name and/or credit report automatically pop up or would I truly have to be on the application?Also, would his credit report show his nuptial status?(I’m in the US.)Thanks!

Credit Report Question?

so in 2001 i bought a motor2003 filed chapter 13 bankruptcy- vehicle repo’d due to nonpayment but got it stern through bankruptcy 2006 the liquidation was dismissed and sports car repo’d again (i was self a stupid kid)so now it’s 2008…7 years from the time i bought the car but since it be in a bankrupcty that be dismissed 2 years ago.(but the car loan is not showing on my credit report as surrounded by bankruptcy) how many more years will it be on my credit report?

Credit Report- Questions just about bosting my evaluation…?

So I have 2 plain credit card accounts. One has a restriction for $300 and the other has a $500 credit cut-off date. Well, I applied for another card which has a $750 credit bound. I am looking to close my $300 credit limit justification bc of the high interest rates and a too glorious yearly article fee. I pay packet off my cards at the appendage of the month, so they do not carry a match, so I am not worried about have to transfer a stability to the new card.I am only wondering what looks better on my credit report, an account that have been depart for almost 1.5 years that has no go together but a $300 limit, or a brand new account that have a $750 limit?I of late recently rewarded off my cards, so at hand is a possibility that in the adjectives they will carry a go together, eventhough I am going to try to pay them sour every month. This is why I am looking to get rid of the $300 factor card bc of the monthly account charges, once a year account levy, as well as the giant interest.Any thoughts?

Credit report report quiz.?

i finally got 1 erraneous item bad my credit report from one credit reporting agency. Does the agency have to inform the other two agencies or do i hold to do the process all over again for the other two agencies?

Credit Report Reviews?

Credit Report Reviews?http://www.creditreport-s.blogspot.com Here Is A Great Review Site On Credit Reports.Can anyone tell me other righteous credit report sites that review credit reports. Credit reports and free credit reports.What are the diffrences between these free credit reportsand not free credit reports. ID also like to swot more about free credit reports and not free credit reports. THANK YOU

Credit Report shows “KD” for 4 months, can it be removed?

My last apartment complex have a bill out against me that I didn’t know still existed. My soon to be ex husband never payed it. Is there something I can write to the collection company to enjoy it removed if I pay? Will I want to pay adjectives of it or should I start at a different %? The most important piece to me right now is have that removed, it dropped my score roughly 70 points!

Credit report unknown grades?

You know on your credit report it will say OK, 30 days, 60 days etc…And when, for doesn`t matter what reason, it have an X instead of ok. I guess this means they aren’t sure? Does this negatively affect your gain? Should I demand it be corrected? Would give the impression of being to me they know if I made the payment or not. And if they don’t know, later they are obligated to say OK as it can’t be verified

Credit Report. online?

I would like to capture a credit report online instantly, have you tried this back, did you like the results, and which company did you use? Thanks!

Credit report?

hello everyone, i just looked at my credit report and its disastrous, how do i get it wager on on track? is there a monthly plan i could take on to pay these debts minus paying each debt?

Credit report?

I just found out my credit report be in bleak shape. I want get rear legs better higher level. all index of account i enjoy in credit report it dont show any address or phone number singular account moniker. How do i fix my credit? like ” HSBC/NAUTL” i enjoy no idea what it is

Credit Report?

Is it true that your credit report gets a impossible mark every time you check your credit win? If so, why is that? Shouldn’t you be commended for actually benevolent about your win as opposed to society who don’t care and ruin theirs?

Credit report?

Over the past 6 months, I hold paid bad two accounts that were “negative” due to unsettled payments. How should this affect my score, and should I request to enjoy them removed?

Credit report?

was reading on yahoo communication saying check ur credit mark for $0 on experian is it free now or something or u still gotta repay?

Credit Reporting Question…?

I have have several small loans from a local company ranging from $300 to $1000 and adjectives paid past its sell-by date satisfactory.Yet, they don’t show up on my credit report. I’m trying to build dutiful credit, and this is self-defeating. How can I have the loans reported to my credit report to comfort increase my score, or is in attendance such a way? Thanks!

Credit Reporting?

I recieve numerous offers from credit card companies adjectives the time. I was wondering if a credit re-builder card (i.e First Premierm & Continental Finance) would read smaller amount on your credit report than a fairly wearing clothes lenders Capital One or Chase, are they all equal. Also, what is your fire score as soon as you turn 18?Thanks!

Credit Reports & Collections? Question!?

I just have a question. If you dispute an statement on your credit report(s), I know the collection agency has to respond inside 30 days to verify, or else. Is nearby a law or doesn`t matter what that says the collection agency have to contact you personally (by communiqué, phone, etc) with “proof” of the collection after the 30 days if it be verified? Like, if they verified an account near the Credit Bureau, is there a tenet that states they have to contact you beside proof within a correct time? (after the 30 days the credit bureaus give!) Thanks within advance!

Credit reports, how do you know if you subscribed to those free trial things?

Hey, when you go to annualcreditreports.com to directive your free annual credit reports, and they sometimes ask you if you want to subscribe to their free 30 day trial stuff (after 30 days you will acquire billed), how do you know if you accidentally subscribed to them or not? If you were subscribed, wouldn’t they own asked you for your credit card? Or can they still bill you by having you write a check to them? Would you be subscribed if you didn’t supply out any credit card info? I didn’t give out any credit card info to them, simply the information needed to obtain my credit report. Is it still possible to be subscribed to their free trials? Thanks!

Credit Reports?

Can anyone tell me where on earth you can go online and take your annual credit report for free? Without using a credit card or signing up for a service?Thanks

Credit Reports?

I viewed my free credit report online from Experian. I know I can still request a free credit report from the other 2 companies this year also (TransUnion and Equifax), but would prefer to space them out throughout the year to attitude changes and updates. My sound out is will there be a difference surrounded by the reports? I know the 3 may give me a different credit chalk up, but will all my accounts near the amounts I owe be consistent? Thanks.

More Credit Report questions please visit : Credit12345.com



Lydia

Ashley asked:


I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.

I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.

My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.

I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.

My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.

Also should I list all three accounts on one letter to each bureau?

Steve

Jon Dough asked:


My score is around 500 for all three credit bureaus. But most of the accounts will be removed from my credit report by 2013. I checked with this DMP to help me and the amount was about $150 per month, for 3 1/2 years. If you do the math, I’ll be debt free around 2013. Obviously, I want my score to go up, but I’m not in a hurry. So should I pay, or just wait it out ’til it falls off? Serious (hopefully professional or experienced) answers only. Thank you.
… Thanks for the answers. I am already behind on my payments (some as much as a year). The collection agencies call me about twice a week, hopefully that helps.

Vanessa

Ashley asked:


I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.

I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.

My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.

I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.

My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.

Also should I list all three accounts on one letter to each bureau?

Glen

Ashley asked:


I am 20 years old, and pulled my credit report about 3 months ago. I found three collection accounts on my credit report.

I first disputed the accounts with the credit bureaus, who all verified the accounts. These accounts are not mine, I know they are not mine, for a business in a state I have never been to.

My next step was to send the collection agencies a certified letter requesting validation of debt, that was over 2 months ago, no response from any of them.

I was doing research on Y/A and found out that now I should dispute the accounts with the credit bureaus again and send certified mail with copies of validate letters, that they failed to answer OR I should contact the credit bureaus for something called Method of Validation.

My question is can anyone help me with a sample letter or tell me how to word a letter to the credit bureaus saying they should delete the accounts because the collectors did not validate. I am not good at writing letters, I feel inadequate.

Also should I list all three accounts on one letter to each bureau?

Ruby