[mellucido]

Hi great mentors,
I just got my 3 reports---Tr 649---Eq 697---Exp 628.

I followed your advice and started on the middle score 1st--- was surprised to see this on Transunion. I was told that the original amount of $350 was "forgiven". Did I get it in writing----no, for many reasons (other than naivete and denial). What do I do with this? I ended this agreement clear back in 2001 or 2002.

Thanks in advance!
Mel


Collection on debt to: Med1 02 Gladstone Counseling Center
The collection agency "Century Cred" was hired to collect a debt of $1,485 originally owed to "Med1 02 Gladstone Counseling Center" on account number "XXX5701".

Collection agency [?] Century Cred
Original balance [?] $1,485
Current balance [?] $0
Status [?] Not Reported
Date assigned [?] Jul 14, 2005
Date reported [?] Feb 13, 2007
Date last active [?] Not Reported
Date paid [?] Not Reported
Date closed [?] Apr 10, 2006
Original lender [?] Med1 02 Gladstone Counseling Center
Account number [?] XXX5701
Type of account [?] Not Reported
Account holder [?] Individual
Type of credit [?] Not Reported
Payment status [?] Not Reported
Largest past balance [?] Not Reported
Amount past due [?] Not Reported
Account descriptions [?] Not Reported

[jlynn]

Is this a 3 in 1 report?

[mellucido]

Thanks Jlynn----it's Transunion and its on the experian also.

[DarkSergeant]

Well hell Mel, I'm just as new here as you - but from what I've picked up so far you may wish to:
Step Big A, #1 - Get your actual credit reports. On Transunion, the "ChangeChecker" function is the one you want - with ONLY your Transunion report. Your first month will be free, and its about $11 a month afterwards. You can get a new report every single day if you want to.

If you're just getting your reports to see what's on there, go to annualcreditreport.com. You can pull all three reports once per year here, dispute anything you like and it could be a good, free starting place.

In regards to this:
A) If it's from 2001 it'll be falling off soon anyhow - and then you may dispute it to Transunion as past its FCRA statute of limitations (7 years from when the account went delinquent and was never returned).

or

B) Not worry about it since its old (depending on your state and its statue of limitations regarding the litigation rights of a creditor).

Do you have any documentation on this account at all? Do you think you could contact the original creditor and try to get some information? When was the last time YOU had any contact with this account, i.e., made a payment. In some states, that can reset the statute of limitations.

You should consider (especially if the colletion agency is NOT doing anything) that going through the validation, dispute, etc., process may not be worth the time involved - at least until the account is past your state's statue of limitations, and then you can do anything you like (within reason) without concern of suit.

You should also know that so long as the collection agency has valid claim to this account, they may contact you any time in the future(save you sending them a Cease & Desite letter). Even 30 years from now, they could contact you - and could even attept to place it on your report (though it would technically be illegal).

My suggestion - aquire as much info as you can on the debt, and see where you sit.

[jlynn]

Originally Posted by mellucido

Thanks Jlynn----it's Transunion and its on the experian also.

The reports from myfico.com get suckier and suckier. The scores are the closest to real you will ever get, but the reports are not.

You need to get reports directly from the CRAs to get all the line item details - specifically all those <not reported> items. They are on record, Myfico is not distinguishing them.

[mellucido]

Thanks Jlynn, I am in the process this hour of getting the real cr from the three by mail. I got all three from myfico and there are only a few things (old) that I have to work on. The main thing I have been told when I have applied for credit is I don't have ENOUGH credit history. I foolishly thot that paying everything in cash was GOOD for my credit. Well after studying here and some life experience I know that it hurt what I have been trying to do for years---get good credit.
I respect your coaching Jlynn---do you think I should do the validation letter to the ca? I don't really want to speak with the original creditor because he is an arrogant jerk but I will if that is what needs to be done to get this of the cr.

Dark, We are all at different levels of learning here. Yes I did know to get all three crs from myfico.com and I got the whole package so I can continually track everything.
I have no doc on this account. I have been told that I should do the validate letter (by a friend that cleaned up her credit) just to get this off my report. It is one of the few "big" bad spots on my cr---according to the explanations on myfico.

Thanks for everything,
Mel

[jlynn]

Originally Posted by mellucido

Jlynn---do you think I should do the validation letter to the ca? I don't really want to speak with the original creditor because he is an arrogant jerk but I will if that is what needs to be done to get this of the cr.

If you think the OC is an arrogant jerk, don't even attempt to talk to the CA

On that one, since you are sure its so old, you could do the validation to the CA and at the same time dispute it with the CRA's. Maybe it will come off the easy way.

The TL you posted here is reporting as paid. Another option is to wait until you get a real report, and see when was the last time the CA updated the TL. It might come off in a simple dispute without going the validation route.

Your choice. Its paid, and old, they can't do anything to you. Like you said in the other post - its a crap shoot...

[jlynn]

Originally Posted by mellucido

The main thing I have been told when I have applied for credit is I don't have ENOUGH credit history. I foolishly thot that paying everything in cash was GOOD for my credit. Well after studying here and some life experience I know that it hurt what I have been trying to do for years---get good credit.l

Your scores are not awful. There are some cc's out there that you would probably get approved for even with the old collection. But regardless, it will still take time to build a history with new cards.

Another option that as of now still works, and one you could consider if you are in a hurry (like for a mortgage) - If you have a family member or someone that has a credit card that has a good long COMPLETELY POSITIVE history - ask them if they would consider making you an Authorized User. You aren't financially responsible, they don't even need to order or give you a card. You just need to be placed on an account that reports to the CRAs like a Citi or B of A card. You will get the benefit of ALL their history which should boost your scores.

[mellucido]

"If you think the OC is an arrogant jerk, don't even attempt to talk to the CA " Thanks for a good laugh to start my day. I have enjoyed your posts for a loong time---its great to get coaching from you. K so I will get on that now.

"Another option that as of now still works, and one you could consider if you are in a hurry (like for a mortgage) - If you have a family member or someone that has a credit card that has a good long COMPLETELY POSITIVE history - ask them if they would consider making you an Authorized User. You aren't financially responsible, they don't even need to order or give you a card. You just need to be placed on an account that reports to the CRAs like a Citi or B of A card. You will get the benefit of ALL their history which should boost your scores"

You know I did ask some friends a couple years ago to do this and they were so shocked---thot I was a scam artist---now they are no longer friends---I scared them off even tho I told them I didn't want to have/use a card. People are very afraid of identity theft these days---guess that could have been in their minds.

Thanks Jlynn

[jlynn]

Originally Posted by mellucido

You know I did ask some friends a couple years ago to do this and they were so shocked---thot I was a scam artist---now they are no longer friends---I scared them off even tho I told them I didn't want to have/use a card. People are very afraid of identity theft these days---guess that could have been in their minds.

Thanks Jlynn

Yeah, that is understandable, when they don't understand they system. Oh well, nothing ventured, nothing gained.