Debt validation - Credit repair - Posted by michaela-CA

Posted by Wayne-NC on April 24, 2007 at 13:26:08:

Yes, Fair Isaac is rather impersonal. After all, it is only a number and as you pointed out, does not tell the whole story in so many words.
So, I’m advocating credit repair for those people that have had to go through some rough times and even though they’re back on their feet are now being punished by continued reporting on their reports."
This is exactly what I had expected out of you and glad I got it. It was well put. Also, I was not aware how loooong simple bad credit sticks around. People who make EVERY effort to get back on their feet financially deserve a better shot at credit. That is the ultimate responsibility and should be commended and rewarded. It is harder to climb out of a hole than it is to just cruise on a flat surface.

Debt validation - Credit repair - Posted by michaela-CA

Posted by michaela-CA on April 22, 2007 at 22:24:43:

Since I hadn?t been on this site for quite a while, I thought I?d throw this out here for anybody that may need this for themselves or for buyers, how hav ea difficult time getting approved, due to their credit.

There are ways to legally get rid of a number of trade lines, that report negatively on your reports, and which will then improve your credit scores. There are several types of accounts being reported: Original creditor, Debt collector , medical collection, student loans. I don?t know much about medical and student loans, so I will only write about the first 2.

Original creditors and the Credit Reporting Agencies are ruled by the Fair Credit Reporting Act - Fcra

Debt Collectors, who are assigned the debt by the Original Creditor have to follow the Fair Debt Collection Practices Act - Fdcpa

Go through your reports and determine which each of the negative trade lines is.

Debt Collectors are the easiest to get rid of through Debt Validation. You, as the consumer, have the right to request a Debt Validation from the DC. For example, ask for copies of the original contract with your signature and a notarized statement from an employee directly involved
In getting that debt. Since these are not the original creditors (OC) they do not have that documentation. By law, they have to provide you with validation within 30 days or they will have to stop reporting the trade line to the Credit Reporting Agencies.

Original Creditors can be asked for a validation as well, but they?re not bound to give it, unless it?s in the first 30 days of receiving notification. they?re more difficult to deal with

There?s something called a 1-2 punch, which works for both OC and DC: send them a letter, asking for validation, Certified return receipt requested. Follow up on and once you see confirmation, that the
Letter has been received, send a letter to the Credit bureaus, disputing the item. The OC and DC are not allowed to verify to the CRA, while an item is in dispute. And if they don?t respond to the CRA within 30 days, then the CRA has to delete the trade line off the report.

If they?re in violation, then you can inform them of this and that there?s a $ 1,000 fine for each violation. That will wake some of those up, that haven?t validated and are still reporting.

Once there are violations, then a complaint to the BBB can help wonders. Or a complaint to the Attorney General.

There’s lots more good information at the credit forum at and at

(those sites are free and I’m not affiliated with them)


Re: Debt validation - Credit repair - Posted by lori

Posted by lori on May 07, 2007 at 13:58:51:

If a dept is with a collection agency. And Original Creditor has accepted an amount to pay the account in full. Is the Collection by law required to be deleted off my credit since no money was ever paid to the collection agency

Nice analysis - Posted by Wayne-NC

Posted by Wayne-NC on April 24, 2007 at 08:14:11:

Michaela, are these debts that one was once legally obligated to pay? If so and they don’t, who does in the final analysis? I’m trying to find out where the true benefit lies in your strategy. If one obtains a contract without an original signature, then there is legal recourse. On the other hand, if there is an obligation to pay from a legitimate loan, debt or other goods or services, and not paid, shouldn’t there be consequenses for true non payment of a debt? Outside of the time and expense of court (an unlikely event), this is the only remedy that a lender may have and that is to blemish a credit file so others may know NOT to lend. In fact if they do go to court, a judgement is then placed which will reach the credit files anyway. What is one to do then? Now, put yourself in a landlords shoes for a moment. You just pulled a credit report on a perspective tenant. The credit report has been repaired using the strategy outlined above without your knowledge. Well, now you know the “rest of the story”. There are 2 sides to every one I guess. I like this stimulating thought.

Re: Nice analysis - Posted by michaela-CA

Posted by michaela-CA on April 24, 2007 at 11:40:27:


I agree, that debts should be paid, but a lot of peopl ehave paid their debts and their credits are destroyed for & years. Not everybody with bad credit is a dead beat. A lot of people get into situations because of a sudden job loss or a medical emergency. They may catch themselves months or a few years later, paid off thier debts, but they’re being punished for years to come.

With bad credit it’s very, very difficult to open a bank account, rent or buy or other things. Many people will evaluate someone’s character solely on their credit repott, without taking the personal situations in account.

In addition, the CRA benefit more from negative credit than from positive, as they can sell those accounts for more money. So, they will only adjust descrepancies, if pushed. I actually had to sue equifax and experian to get them to change the date on a paid debt. Even with faced with proof they didn’t want to budge. There are a lot of inaccurasies in most people’s credit reports. You’d be surprised what you’d find, if you ever take a really, really close look at yours.

So, I’m advocating credit repair for those people that have had to go through some rough times and even though they’re back on their feet are now being punished by continued reporting on their reports.