Credit Reports Trw
2010
This question is for 1 hourbooke? And any other really helpful people..?
After shooting some questions around on here i am getting some really mixed answers, so hopefully i can get some more information from you and other leading people.
I am settling with a law firm on a four year old debt….The total amount is 4600 (which is way more than i can afford) – but they offered to settle for 3300, that i can possibly afford.
Will this help my credit out at all? I was looking at your other answers and you say it’s possible to settle and then have it whiped from TWR…you make it sound really simple, but how simple can it be? I have read all your articles, while i do find them helpful, where do i go from there?
In other words, once i pay a settlment in full, they report it to the bereaus, what happens then? If i want to dispute it with the TRW, once i send the dispute i know they have 30 days, so if i keep track and 40 days have passed, what happens if nothing has happend? I wish you would email me or something so i can talk one on one about this..
First of all, get everything in writing.
As to those people who say yes you can get bad debts wiped off your report real easy, IT’S BULL*&^#.
Even though you will settle this debt by paying less, it will still reflect on your report as a negative. They will list it as charged off debt, but payed as agreed. (this being your agreement to pay less than the original debt).
Once you make payment, your “State Statute of Limitations” will be tolled (restarted) but it will not affect the reporting time limits on your credit report.
Sorry there is no real quick fix for credit reports unless you can prove the item is not your debt or unfair collection practices were used to coerce you into payment, or that the debt is has been “time barred”.
I invite you to join the following Yahoo group “DontGetRippedOff” dedicated to helping those in financial trouble, Here you will find information to help you with debt collection agencies.
http://finance.groups.yahoo.com/group/dontgetrippedoff/
Here are some links to the FTC regarding credit.
http://www.ftc.gov/bcp/conline/pubs/credit/crdright.shtm
Credit and your consumer rights.
http://www.ftc.gov/gettingcredit/
What you need to know about your credit.
http://www.ftc.gov/bcp/menus/consumer/credit/reports.shtm
Download a pdf file regarding how to dispute with CRA’s
http://pueblo.gsa.gov/cic_text/money/creditscores/your.htm
All about FICO scoring.
Hope this is of help to you.
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