Liberty Credit Repair

Current financial rule erases bankruptices & bad/negative credits in 7 years or so & the person can start over with clean credit. In my opinion the person should keep his/her bad credit forever until he/she pays back. Why are we rewarding the irresponsibles by clearing their credit?

I agree. I might make an exception for rare people who are ruined for reasons beyond their control, but for the most part consumers dig their own holes and shouldn’t be forgiven debts that responsible people either pay off in time or don’t accumulate in the first place.

People know what they make and what they can afford. They just choose to overlook it when they want something new.

Health insurance is so cheap in the US that there is no reason not to have any. Job loss is a risk to everyone, and so the grown-up thing to do is not to use credit to supplement one’s income. If you lose your job, get another one, even at a fraction of your original salary, rather than sit around for a year waiting to be offered more money.

Not all will be erased, like chapter 13 it takes a bit longer…but you have to make sure they do it. If YOU dont keep up with your credit, niether will they.

Kind of hard to answer this one because you did not specify what type of debt it is. If it is just for some credit card debt or a small loan, then let it drop from your report.

Paying it off will increase your credit score a little but it will go from a derogatory to a potentially negative entry on your credit report. If it is a large amount, might as well wait it out.

Here are the time frames for reporting collections
Unpaid Tax Lien – Indefinitely
Chapter 7 Bankruptcies – 10 years from date filed.
Public Records – 7 years from the date of payment;
Closed or Inactive Accounts – 10 years from the date of last activity;
Derogatory Accounts – 7 1/2 years from the date of original delinquency;

Once it has been removed, still keep an eye on your credit report, there are many collection agencies that will re-date the debt to place it on your credit report even though this practice is illegal as per 15USC1681s-2] § 623. Responsibilities of furnishers of information to consumer reporting agencies.

Some bottom feeding agencies hope most people don’t know the rules under the FCRA and the FDCPA

Hope this answers your question
LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.

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I have cell phone bills with 3 companies, doctor bills, 2 bank accounts that I owe on, and 2 loan companies (loan companies garnished my wages and are now paid off)
and if so, does your credit score go to zero? Is it squeaky clean and let you start all over again?

Yup.. It all goes away.. Apply for a small card, say $200, and pay it off every month in full. That way irrespective of the interest rates or APR, you wont pay interest( but you have to make full stmnt ending balance payments every month). Moreover if its a rewards card, its an added benefit. Try www.capitalone.com

We are trying to buy a house before April. credit is not that bad, but just has some items in collections.

As long as the information is true and correct there is no legal way to remove it from your report until the reporting time line runs out which is 7-years from the date of first delinquency which works out to 7-years and 180-days.

This is per the Fair Credit Reporting Act (Federal law).

Now what you can do is since these are collection accounts is see if you can get them to agree to whats called a pay for delete agreement, this simply says that in return for your payment they agree to remove the account from your report. Without this agreement paying these collections will not help your credit score at all.

If they agree, get it in writing before you pay them a dime.

If they will not agree, about the only thing you can do is pay them and at least when your credit is pulled the accounts will show as paid with a $0 balance.

The only other thing you might try is send them a letter demanding validation of your account, this requires them to send you proof that not only is this your debt but that they have the legal right to collect it. Be sure and send it certified mail return receipt required so you will have proof that they received it. If they can not provide this information including a copy of the original contract with your signature you can dispute these accounts with the bureaus and they should be removed.

Good luck.

?redit repair work?d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com

The account was in deliquent for 170 days I alredy pay it but it still on my credit report.

bad news – it will be there for 7 years
good news – it can only get BETTER!

so – make sure – all payments ON TIME
I send my electronically over the internet since a MAJOR
credit card "lost" a $1,500 payment check for 9 days
and charged a $29.95 late fee – until I proved that my bank cashed the check 3 days after I mailed it (yeah – they reversed it)

Don’t take out loans for stuff you cannot afford!

You can DO IT !!!! Keep your chin up!

the rool off day is one day closer today!

(and the use of spelchk is not far behind!) LOL
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Time flies when you’re having Rum! – ooops Pirates!

http://www.NoBSCreditRepair.com Get Credit Repair help and erase bad credit legally and quickly. Work with a professional credit repair company, our proven system erases bad credit and we offer a money back guarantee.

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I would love to pay off my debt of 4000 but because i moved alot due to family circumstances I do not know who or which company i owe all this money to.
I just know I owe this much.

So if dont know who to pay the debt to then obviously my bad credit record with unpaid debts will stay in my life forever!!!

I don’t want that. I am ready to pay alot of money to a business that can legally delete my credit record. Is there one in Australia?

I know a friend of mine changed his name, first name and last name and he got a loan! using that new name. He also has a history of bad credit in his old name but he used his new name and he got offered credit cards from each corner.

I don’t know how he did this though. I saw whenever he applied for a loan he would take his drivers licence (with his new name on it) and it would get approved.
He also changed his name on his passport.

I don’t know if that’s illegal or what but he is having such a great life.
(sigh) god i am tired of posting the same stupid question here and people not getting it!! I CAN’T FUCKING RENT A HOME! OK? With a bad credit record I am HOMELESS period, unless i go into share accommodation for 7 fucking years!

You don’t know who you owe money to?! Surely you have records you can refer to? Pull a credit report and see what’s on it, then pay off those debts for starters.

You can always get loans – even if you change your name – but the terms may be really ugly (high interest rates, for starters). No one can erase your credit history – with time and work it will improve, but it takes seven years for bad accounts to drop off your report. Just walking away from old debts is not the answer.

Edited to add: We DO get it. Other than having someone cosign with you (guaranteeing rent or loan terms will be paid), I can see where finding a place to rent would be hard. There is no way to just erase your credit past, no matter how badly you might want it. I don’t mean to sound ugly, but your own actions put you in this position and the only way out is to work through it just like everyone else. There’s no quick fix.