Contact CCCS reported to credit bureau
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| Tue, 01-18-2005 - 12:45pm |
I have to vent about yet another frustrating situation in regards to my debt. I have been struggling with debt for almost 5 years now. About 2 months ago, I contacted....mind you JUST CONTACTED a reputable debt management company (it was a CCCS but I can't remember the exact name but I made sure they were a member of the BBB and had a good record, etc.). They returned my call after I went onto their website ~~ All I did was give them my name & #. When they called me back, I gave them the full amount in which I owe and listed the interest rates on my 3 credit cards. They said there was nothing they could do for me because my rates were all as low as they would go and after their monthly charge, it would not help my situation. So, the conversation with the representative from this company lasted no more than 5 minutes.....
About a month later, I contacted MBNA to ask them to consider lowering my interest on my CC with them ~~ They gave me several reasons as to why they could not....but the one that really got me was that they saw that I had CONTACTED a debt management company.
I've read posts on this site that sometimes even ENROLLING in a DMP does not negatively affect your credit but I just call them and it's a flag on me???? I think this is very unfair.
Would I have any chance of getting this removed from my report?
I also am frustrated at the fact that they say a bankruptcy is removed from your credit report after 7 to 10 years depending on which type you file but ONE late payment (that was 10 days late) that I had over 6 years ago still shows up on my report!!! Is that fair?
Sorry for the LONG vent! I'm just trying everything I can do improve my scores & get out of debt!

Is it possible that the CCCS company pulled your credit report? Did you give them your social security number? The only way I can see that MBNA knows you contacted them is if there is an inquiry on your credit report, and if you didn't authorize them to pull your report you can dispute that.
The late payment can legitimately be on your report that long, but most lenders and most scores will not take it into account much. Being late one time especially that long ago isn't such a huge deal. Maybe you could dispute that it's reported as 30 days late when in fact it was only 10 days late and get it removed that way.
All my best,
Danni
I have to vent about yet another frustrating situation in regards to my debt. I have been struggling with debt for almost 5 years now. About 2 months ago, I contacted....mind you JUST CONTACTED a reputable debt management company (it was a CCCS but I can't remember the exact name but I made sure they were a member of the BBB and had a good record, etc.). They returned my call after I went onto their website ~~ All I did was give them my name & #. When they called me back, I gave them the full amount in which I owe and listed the interest rates on my 3 credit cards. They said there was nothing they could do for me because my rates were all as low as they would go and after their monthly charge, it would not help my situation. So, the conversation with the representative from this company lasted no more than 5 minutes.....
About a month later, I contacted MBNA to ask them to consider lowering my interest on my CC with them ~~ They gave me several reasons as to why they could not....but the one that really got me was that they saw that I had CONTACTED a debt management company.
I've read posts on this site that sometimes even ENROLLING in a DMP does not negatively affect your credit but I just call them and it's a flag on me???? I think this is very unfair.
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****A MAJORITY of people who enroll in a DMP are late, over the limit and past due. Their APR is somewhere over 20%. Enrolling in a DMP will help begin to make consecutive monthly payments.
Unfortunately, some creditors will not show the account current until three, consecutive payments have been made. Some creditors will reage the account after the first payment is posted.
If the person is late coming in to the DMP program, , the account may be reported as 'late' until the account reages. But being reported 'late' is due to the account being past due not because the client enrolled in a DMP.
As lenders are screaming for business, they are not as strict as they were a couple of years ago. Being in a DMP can show a sucessful repayment schedule but to some lenders, they see a DMP as a bankruptcy-the difference is a bankruptcy will stay on your credit report for 10 years and 7 years . Once an account is paid in full, through a DMP the account will show that the account is 'paid in full'.
And in the lending field, a 'paid in full' gives you tons of leverage for future loans.
I hope that this helps :)
Is it possible that the CCCS company pulled your credit report? Did you give them your social security number? The only way I can see that MBNA knows you contacted them is if there is an inquiry on your credit report, and if you didn't authorize them to pull your report you can dispute that.
************I was under the impression that a CCCS did not pull a credit report. Any time an agency pulls a clients credit report, this can lower the credit score and will show up as an inquiry. And this alone may prevent ************
The late payment can legitimately be on your report that long, but most lenders and most scores will not take it into account much. Being late one time especially that long ago isn't such a huge deal. Maybe you could dispute that it's reported as 30 days late when in fact it was only 10 days late and get it removed that way.