My first credit disputes

[Maygen13]

I have been reading on this site for a few days now trying to get my bearings and see where to start. I've rec'd my credit reports and outlined the items I want to dispute/validate.

Do I sent letters to the CRA's first or to the CA or both?

I am a little scared to jump right in so I have just been collecting my information and reading. This is the one thing I am sort of hung up on.

Thanks in advance,

Megan

[Trish]

Hi Megan

It really depends....
How old are the CA accts you want to dispute? Are they out of SOL?
And if not.......are you willing to pay if the do properly validate the debt?

If so then you can do a 1 2 punch.
If you are wanting to take it slow and only dispute smaller accts first (ones you can afford right now).....then you can do that first. Do what you're comfortable with. I always picked the older accts with smaller dollar amounts first........that way I knew if they came back with proof, I could try a PFD or make an arrangement with them if I needed to.

[Maygen13]

Question about the SOL, I recognize that these are different for every State. How do you calculate this? Is it the State that the CA is in or the State in which you reside?

Example, I have a medical collection from 2005 that originated in SC but the CA is out of TN. The SOL in SC is three years and the SOL for TN is six years. If in fact it deals with SC then I could dispute as it would be exceeding the SOL, correct? Thus having it expunged from my report?

Thanks in advance for your help, just trying to understand the logistics of it all.

ETA: I was just thinking as well, there are several things listed on my report that are saying they were included in a bankruptcy when they were not. Would that count as erroneous and is that a valid reason for it to be removed?

[Trish]

Originally Posted by Maygen13

Question about the SOL, I recognize that these are different for every State. How do you calculate this? Is it the State that the CA is in or the State in which you reside?

Example, I have a medical collection from 2005 that originated in SC but the CA is out of TN. The SOL in SC is three years and the SOL for TN is six years. If in fact it deals with SC then I could dispute as it would be exceeding the SOL, correct? Thus having it expunged from my report?

Thanks in advance for your help, just trying to understand the logistics of it all.

ETA: I was just thinking as well, there are several things listed on my report that are saying they were included in a bankruptcy when they were not. Would that count as erroneous and is that a valid reason for it to be removed?

You can find your state's SOL here. You go by the state you currently reside in.

BUT.....you need to understand there are two different SOLs. Your state's collection SOL and the reporting SOL. The collection SOL is the length of time that an OC or CA can pursue you and attempt to collect on a debt. So if NC's SOL is 3 years, then a CA/OC can no longer collect on the debt after 3 years and you can no longer be sued over the debt (if they try to then you always have SOL as an affirmative defense).
Now the reporting SOL is 7 years. Legally it can be reported on your CR for 7 years from the DOFD (date of first delinquency).

And just to add to your confusion ( :p ) ........if this is a medical debt.......medical falls under the UCC SOL......under goods and services......which is 4 years.

For the TLs that are not supposed to be included in the BK.......yes that is an inaccuracy that can be disputed.. Not so sure if that will get them removed but you can definitely dispute that. Are they reporting is as a $0 balance too? Because if they are reporting as IIB, it should show a $0 balance.

[Maygen13]

I would have to say that at least half of the problems on my report are from Medical bills, should I contact the medical institution directly and possibly apply for assistance etc.? Would this mess with the SOL as I am contacting them?

I was just looking over them again and see that some Medical bills are being itemized as IIB, which they were not. Should I just dispute them for the inaccuracy?

Sorry for the questions and thanks in advance!

[Trish]

No, it won't make a difference on the SOL.

If you have a lot of medical debt, read here. You may want to go the HIPAA route.

[Maygen13]

Thanks for all your help, now to dive in...

[Trish]

Ha ha.......yes, that is the fun part. :p

[Maygen13]

Okay so perhaps I have a few more questions...

I pulled my husbands reports and am going to work on his as well. We nearly lost our home to foreclosure a year and a half ago but were able to negotiate a short sale.

It's reading like such:

Current Status: 120+ days past due (which would be false as it's paid)
Creditors Statement: Account legally paid in full for less than full balance
Acct History: Forclosure as of Jan 2008

There are many things that aren't adding up here, with it being rather recent should I dispute it? If it comes back as verified do I then dispute acct history and what not? Would it be worth it to contact the mtg company with a letter of goodwill to see if they will remove the late pays? Oh and I don't know if it matters but we are paid in full as far as they are concerned and don't owe them anything.

Thanks again!

[Trish]

I would go ahead and dispute all of those things......it cannot be late if it's been settled.
Not sure about the second notation but I would dispute it anyway stating the account was paid in full.
And since it wasn't a foreclosure.....yes I would be disputing that too.

Just state that you have noticed SEVERAL inaccuracies with this account and then list them out.

Then if it does come back verified, you need to go directly to the mortgage company.