I was happy to hear from two respected credit repair specialists regarding my post on handling calls from collectors. I am amending my previous blog post to say this:
- If you can get a collection removed from your credit report, you definitely want to pursue that. When a collection is deleted, it benefits your credit profile and improves your credit score.
As Mr. Tony Peters wrote:
“Why aren’t people disputing these debts, even if valid, right off the report since the collection agency isn’t the data furnisher? They also list amounts that they didn’t pay so not only do we not owe the false furnisher, but we don’t owe them said amount.”
With so much erroneous information, including missing information, on credit reports, you have the right to challenge anything that is not correct and validated. Your credit report is supposed to be 100% accurate; not 99% accurate. However, even if a collection is removed from your report, the collector can still pursue calling you for money. Therefore, be professionally polite and vigilant about protecting your privacy.
2. Don’t say anything that is not in your own benefit. As Mr. K.T. Embry pointed out:
“The suggestions to admit to owing the debt puts the consumer in a very bad position…The Collector will be recording the call also and when the Consumer has admitted to owing the debt that is all the ammunition that the collector needs in order to go to court and win… The Collector no longer has to prove anything because the Consumer has admitted to owing the debt…”
Very true! They don’t care if you are financially strapped; they assume that is the case or you wouldn’t have a collection account. They care about one thing: collecting money. Even if you tell them you don’t have money, will they believe you? How do they know you aren’t lying? How do they know you don’t have a stash of hundred dollar bills in your home safe?
I respect credit professionals who are actively working in credit repair. I am a licensed mortgage broker and do not do credit repair. I come across all kinds of credit situations when people apply for a home loan, as you might imagine. Please feel free to weight in, post comments, and correct anything I might say that is in error. Thank you.
7 thoughts on “Handling Calls From Collectors: Part 2 Amendment”
Even when you dispute inconsistent,missing, obsolete, or not factual entries on your credit report, the bureaus will ” validate” all information and your disputes get nowhere.
Yes, sometimes that happens. Then you write another letter asking for their method of “validation” and proof; and state that if they cannot provide that, to delete it. I have another letter template, more detailed, as a follow up to the credit bureaus after their so-called validation that is bogus. It’s Step 5 in Chapter 2. Thank you for commenting.
I have been discouraged, but now you have motivatrd me to keep up the fight towards excellent credit forever. Thanks!
I am glad you aren’t giving up yet. The key ingredient of the professional credit repair specialists is persistence. They can’t always get 100% of all derogatory accounts removed, but they persist and achieve enough success that scores go up. Even small improvements can have a big impact on your credit score. Getting to the next tier level saves you money. After that, time is a great healer…and creating a positive record from this point forward. 2021 will be a better year, God willing.
Are there any fax numbers for credit bureaus?
Felisha, the credit bureaus offer to receive disputes/correction requests by mail, online, or by phone. I don’t know of any professional credit repair specialists who use fax. I don’t believe they have e-fax available.
You’re so sweet Carolyn.
On Fri, Dec 11, 2020 at 3:49 PM Ask Carolyn Warren wrote:
> askcarolynwarren posted: ” I was happy to hear from two respected credit > repair specialists regarding my post on handling calls from collectors. I > am amending my previous blog post to say this: If you can get a collection > removed from your credit report, you definitely want to ” >