Advice on clearing my debt ($4000 worth)

**CalisFinancialGuru** · 01-09-2011, 10:36 PM

Glad to hear you are getting your finances in order. The company, Asset Acceptance LLC sounds like it is probably a billing agency that is contracting with one of your creditors. As far as the negative marks on your credit score go, they will not go away for 7 years unfortunately. You can still however build up the score by paying off your debts and lowering your revolving credit balance. Also the life of your credit accounts helps build up your credit score. Hope this helps!

**littleroc02us** · 01-10-2011, 05:20 AM

Simple, write to the creditors listed on your credit report and ask them to prove that the negative report they have on you is valid. They have to respond to you within a certain time frame. I just did this on something that happened in 2004, they proved it was valid from some xray I had on my ribs and I never received the bill. They took it off my report.

**SimplySaving** · 01-11-2011, 10:14 AM

I agree with littleroc. If you don't remember what it is - write them and ask and they do have to prove it to you. They may or may not take the time, but they have to prove it to you before forcing you to pay. If you know the charges are correct though and you have the money to pay them off I would just start knocking them off one by one. Keep very careful records. Keep records of all your transactions with the creditors - even phone calls, write down who you talked to and what was said. Your credit score will gradually start to rise as your debt gets paid off. Just be patient with it and remember - your credit score isn't everything. Pay in cash and you don't have to worry about it. Good luck!

**sweetness** · 01-12-2011, 02:02 AM

No advice, but big *High Five* and pat on the back for taking care of this!! If all consumers were so responsible about cleaning up their boo-boos, we'd all benefit.

**thomsoad** · 01-14-2011, 06:53 AM

Originally posted by SimplySaving View Post

I agree with littleroc. If you don't remember what it is - write them and ask and they do have to prove it to you. They may or may not take the time, but they have to prove it to you before forcing you to pay. If you know the charges are correct though and you have the money to pay them off I would just start knocking them off one by one. Keep very careful records. Keep records of all your transactions with the creditors - even phone calls, write down who you talked to and what was said. Your credit score will gradually start to rise as your debt gets paid off. Just be patient with it and remember - your credit score isn't everything. Pay in cash and you don't have to worry about it. Good luck!

The last thing I would do is write them all at the same time! If they are being quiet right now you sure as hell dont wanna wake them up all at once!

Save 50% of the value of the one with the least amount on it... Call them demanding proof. If they provide proof THEN offer a cash settlement; ONCE ACCEPTED GET IT IN WRITING!! THEN (and only when you have that letter in hand) send them some sort of proof of payment (I use Bill Pay with my bank so its all documented).

Then go on to the next one and repeat. Waking them all up at the same time is gonna turn into a HUGE mess ... FAST!

**justinblake** · 01-17-2011, 06:41 AM

I guess you already got the advice you need. I just want to commend you, too. Nothing works like praise to encourage you to keep it up!

**wrk4lvg** · 01-17-2011, 06:46 AM

When you send your dispute letter, be sure to send it certified. They have 30 days to respond. I was able to have a legitimate charge removed from all 3 reports due to none of them responding within the 30 days time frame. Spending the 3$ on postage saved me $231 in monies owed.

**wrk4lvg** · 01-17-2011, 06:50 AM

here is an initial dispute letter template

RE: Request for Deletions of Inaccurate Credit Information

Name:_____________________________________________ ___

Current Address:__________________________________________ _________________

__________________________________________________ _________

Social Security Number:___________________________________

Date of Birth:______________________________________

To whom it may concern:

I have received a copy of my credit report and find the following items to be in error. Attached is a copy of my credit report.

Item and Account Number:______________________________________

Nature of Dispute:__________________________________________ ___

Item and Account Number:______________________________________

Nature of Dispute:__________________________________________ ___

Item and Account Number:______________________________________

Nature of Dispute:__________________________________________ ___

By the provisions of Section 611 of the Fair Credit and Reporting Act of 1970, I demand these items be deleted from all current and future credit reports. Please forward the names of any individuals and/or organizations you contacted so I may follow up with them directly.

I shall assume that 30 days constitutes a �reasonable time� for re-verification of these entries. Through our interpretation of Section 611(a), it is understood that the failure to re-verify these items within 30 days constitutes a reason to promptly drop the information from the credit report.

Pursuant to Section 611(d) of The Fair Credit and Reporting Act, please send notification that these items have been deleted. Please send an updated credit report to my address that is listed above. The provisions of section 612 state that there is no charge for this notification.

Very respectfully,

X___________________________________

Advice on clearing my debt ($4000 worth)