Credit Repair - Self Help

Today I set out to come up with an intial plan of attack. I learned that the statute of limitations for collecting on a debt in Texas is 4 years. What that means, is that any of these past due accounts that have gone beyond the 4 years from DOLA (date of last activity; last payment made) the creditor cannot legally collect this debt. The burden of having to pay these is lifted so long as you never acknowledge this debt as yours. This is not the same as being removed from your credit report, it still takes 7 years to remove your negatives from the credit reports. With this in mind I decided to identify the SOL (statute of limitations) of the negative accounts listed in my credit reports, much to my joy I found that 7 of my negatives were past the SOL. 6 negative will pass SOL within the next 6 months, and 1 of them would pass the SOL within 8 months. This is extremely good news, because by the time I get my first challenges out the way, the next group will be ready. There was 1 account that did not have enough information for me to determine the SOLA and I had no idea what it was, should be an easy challenge.

Now not everything is going to be a dispute some of the corrections will have to be through diplomacy (i.e. ass kissing). I have several accounts with my credit union that are in good standing and paid, but have several late payments. I really don’t want to piss off my credit union, so I will write them a letter to ASK them to remove the late payments. Once the letter is written I will post it here as an example.

I have not gotten a response back on my e-mail that I sent to NCO Group yesterday. I hope I had the correct e-mail address. Here is the e-mail I sent to challenge this listing:

I recently reviewed my credit reports from the 3 different credit reporting agencies and have found a listing from NCO Financial Account #xxxxxxxx in the amount of $$$. I have no recollection of incurring this debt and wish for this debt to be validated, please provide evidence that I am legally obligated to pay this debt to you. If this debt cannot be validated I request kindly that it be removed from all credit reporting agencies and to not return.

By the way this account is one of them that is past the SOL.

My FICO Score from Equifax is 515 ….. not very good at all.