Questions about Credit Repair

[eleigh20]

This is my first post, and I have just started trying to repair my credit, so please correct me if any of this information is untrue. I am trying to figure out the best way to go about with debt validation. I have read numerous articles online, and some seem to conflict with how to go about with the debt validation and credit repair process. My questions are:

1. I have read that you should send a debt validation letter to the Collection Agency and Credit Agency at the same time, but I have also read that you should try to validate the account with the Credit Agency first and foremost. Is there a legal process which you must take?

2. I have read that you should send all mailings certified, but I also hear that is outdated and you should not do it.

3. I was able to have one account deleted from my husband's report with a pay for deletion letter. The collection agency that held the account was very prompt and sent documentation for the deletion to us with no problem as soon as they received payment. I have sent several other pay for deletion letters, however, and collection agencies have told me that it is impossible for an agency to delete an item from your credit report. Who is telling the truth?

I would greatly appreciate any feedback regarding these questions!

[94B]

Originally Posted by eleigh20

1. I have read that you should send a debt validation letter to the Collection Agency and Credit Agency at the same time, but I have also read that you should try to validate the account with the Credit Agency first and foremost. Is there a legal process which you must take?

Do not send Credit Reporting Agencies validation letter(DV), they only go to collection agencies.

Not really sure what you mean by legal process but there are certain steps you need to take when it comes to credit repair. Have you done the basics of credit repair(i.e. ordering hard copies of credit reports directly from each credit reporting agency, opt out, deleting old addresses/personal information that do not belong on your credit reports)?? If not do those steps FIRST and foremost.

Then you dispute the negative accounts(i.e charge offs, collection accounts,etc) with the CRA's(credit reporting agencies) via snail mail. Wait for the results of the investigation.

If collection agency accounts come back verified, THEN send DV(debt validation) letter to the CA's(collection agencies) and dispute again with the CRA's(differently than you did the first time)via snail mail not online.

Originally Posted by eleigh20

2. I have read that you should send all mailings certified, but I also hear that is outdated and you should not do it.

When it comes to collection agencies you should keep everything in WRITING.Send DV letters CMRRR(certified mail return receipt requested), so you have proof that it was sent, received and signed for. I know there are tons of debt validation letters floating around the internet, please don't use them especially the long ones that quote laws and as ask for all kinds of documentation. Keep your initial DV letters short and simple and include a limited C/D(cease and desist) if you don't want them calling you and you only want communication in writing. Also do not sign ANY letters to the CA just type your name.

Letters sent to the CRA's(credit reporting agencies) should be sent via snail mail CM(certified mail) so that you have proof they received your dispute and when.

Originally Posted by eleigh20

3. I was able to have one account deleted from my husband's report with a pay for deletion letter. The collection agency that held the account was very prompt and sent documentation for the deletion to us with no problem as soon as they received payment. I have sent several other pay for deletion letters, however, and collection agencies have told me that it is impossible for an agency to delete an item from your credit report. Who is telling the truth?

There's nothing impossible or illegal(some CA's like to claim) about pay for deletion, they have and can whenever they feel like it. However PFD's(pay for deletion) are against CRA subscriber agreement, which simply means that it a violation of THEIR contract with the CRA's.

The above doesn't mean you shouldn't insist on PFD, it just means you should try another angle. There's no law that states they have to report, but if they do then it MUST be accurate, complete and verifiable. Alternatively, they have the option of NOT responding within the alloted time when you dispute with the CRA's and it gets deleted by the CRA's. Finally, they can also decide that the account was reported in error and authorize a deletion.

One more thing, if you decide to go the PFD route, ALWAYS have the CA validate the debt first.

[eleigh20]

Thanks for the help! That is exactly what I needed to know.

[94B]

Originally Posted by eleigh20

Thanks for the help! That is exactly what I needed to know.

No problem. ~yw