Comments on: Credit Repair Blunders Destroy Credit Scores…And Hope! http://www.fixmyuglycredit.com/blog/credit-repair-blunders/ Regain Your Good Credit Life! Tue, 10 May 2011 01:04:47 +0000 hourly 1 By: Mike http://www.fixmyuglycredit.com/blog/credit-repair-blunders/comment-page-1/#comment-279 Mike Tue, 17 Nov 2009 18:56:28 +0000 http://www.fixmyuglycredit.com/blog/?p=2495#comment-279 Hi Gregory, I get your question often. You did what SHOULD be right by paying off a debt you hopefully validated BEFORE giving money to a stranger (debt collector claiming you owe the money). The debt collector probably told you a bunch of lies to get your money or perhaps the debt collector was 100% accurate by telling you they (debt collector) would report 100% accurately. To you, 100% accurately means the bad debt turns into a good account. You paid it off...it's good now, right? Unfortunately, that's NOT what happens. Accurate reporting HURTS your credit even more than by NOT paying. You now have updated the account by paying. How's the account reported now? The 2nd issue carries over from my last statement: Tell me how the bureaus are reporting this account now. Is it closed? Does it show a dollar amount or is it ZEROED out? Gregory, you didn't know to DEMAND a satisfactory reporting (i.e. paid as agreed, for instance) and SATISFACTION before handing over your money. What you're experiencing now is exactly what happens over and over and over again. A new collector steps forward with his hand out. He KNOWS you're paying, because you already have paid once. By the way, do NOT allow buy you to pull your credit reports...no car dealer, mortgage person...not anyone until you square this off. In my members' area, I use a checklist to help strategize your next move. You might be in a good position to get this removed. Hope this helps you (and others reading this blog) understand what has happened. This is soooooooooooo common, I have included additional information on my CD (see top right of this page if you're interested). By the way, your conflicting scores also is normal. EAch credit bureau uses its own scoring algorithm and not all 3 bureaus are required to report all the same accounts. Let me know what follow-up questions you have. Mike Hi Gregory,

I get your question often. You did what SHOULD be right by paying off a debt you hopefully validated BEFORE giving money to a stranger (debt collector claiming you owe the money).

The debt collector probably told you a bunch of lies to get your money or perhaps the debt collector was 100% accurate by telling you they (debt collector) would report 100% accurately.

To you, 100% accurately means the bad debt turns into a good account. You paid it off…it’s good now, right?

Unfortunately, that’s NOT what happens. Accurate reporting HURTS your credit even more than by NOT paying. You now have updated the account by paying. How’s the account reported now?

The 2nd issue carries over from my last statement: Tell me how the bureaus are reporting this account now. Is it closed? Does it show a dollar amount or is it ZEROED out?

Gregory, you didn’t know to DEMAND a satisfactory reporting (i.e. paid as agreed, for instance) and SATISFACTION before handing over your money.

What you’re experiencing now is exactly what happens over and over and over again. A new collector steps forward with his hand out. He KNOWS you’re paying, because you already have paid once.

By the way, do NOT allow buy you to pull your credit reports…no car dealer, mortgage person…not anyone until you square this off.

In my members’ area, I use a checklist to help strategize your next move. You might be in a good position to get this removed.

Hope this helps you (and others reading this blog) understand what has happened. This is soooooooooooo common, I have included additional information on my CD (see top right of this page if you’re interested).

By the way, your conflicting scores also is normal. EAch credit bureau uses its own scoring algorithm and not all 3 bureaus are required to report all the same accounts.

Let me know what follow-up questions you have.

Mike

]]> By: gregory http://www.fixmyuglycredit.com/blog/credit-repair-blunders/comment-page-1/#comment-278 gregory Tue, 17 Nov 2009 17:17:48 +0000 http://www.fixmyuglycredit.com/blog/?p=2495#comment-278 I have a question and don't kow if this is the place to put it, but here it goes. I paid a settlement offer with a collection agency for a credit card, but another credit agency bought the difference from the settlment offer and the balance. I contacted the new agency and told them that that debt was already paid and sent them the letter stating that the debt was satisfied, but they still won't take there collection off of my credit report. I disputed it on my credit report, but it came back validated. How is it validated if it was settled? Also how is my credit score 638 with 1 company and 581 with another? This is a big difference. I have a question and don’t kow if this is the place to put it, but here it goes. I paid a settlement offer with a collection agency for a credit card, but another credit agency bought the difference from the settlment offer and the balance. I contacted the new agency and told them that that debt was already paid and sent them the letter stating that the debt was satisfied, but they still won’t take there collection off of my credit report. I disputed it on my credit report, but it came back validated. How is it validated if it was settled? Also how is my credit score 638 with 1 company and 581 with another? This is a big difference.

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