How to repair your own credit are these the clear steps?

Submitted by JPerry on Tue, 07/27/2010 - 14:46
Forums

I think people get a little confused reading post in so many different forums about the procedures to repair your own credit myself included. So is it that you first send a DV letter to validate certified mail and ask for a return receipt and if you get no response in 30 days send a second DV letter requesting another return receipt and if still no response in 30 days send a dispute to the CB requesting removal because of no response with your receipts as proof? Also if the debt is properly validated do we then send a PFD letter to the CA or OC certified mail requesting a return receipt and if the CA or OC doesn't agree to the PFD what's next pay the debt or try to wait until it falls off in 7 years?

Hi Jperry,

You can go in for the second debt validation letter, or the follow up letter. However, there's no need to send it again for the 3rd time. You can then file dispute with the credit bureaus. Send the dispute letters too, through certified mail, requesting a return receipt.

If the original creditor or collection agnecy does not agree to PFD, you can try the goodwill letter, and the dispute process. If these does not work too, you will have to wait for the 7 years. The negative impact will lessen with time, and the "Paid" accounts are much better than unpaid ones on your credit report.

Thanks,

Aaron

Wed, 07/28/2010 - 07:40 Permalink

Some 'validation' letters, I've received from CA's, were copies of copies (that sort of thing) and didin't have my signature on them!! However....of course, the CA's would claim they are the "real contract."

Wed, 07/28/2010 - 12:44 Permalink