Beware, all of you. I will be the first to admit that my credit is not in the greatest shape, but for the first time in my life I am gainfully employed. I have had a hard time obtaining credit and in my frustration have made an attempt to clear up my credit.
I took the advice of many and disputed items on my credit and cleared up many out dated and paid accounts off of my credit. I had a loan from a company called Beneficial and the original Loan amount was approx 1000.00. As many of you may or may not know Beneficial was sued for Predatory lending, and over the years I paid this thousand dollars back three time over and finally stopped paying when the interest and fees pushed the balance back over a thousand once again.
The account was charged off after several attempts by me to satisfy the account. They added fees etc and brought it up to $2,200.00. I waited it out since it had ruined my credit for six years and was due to be removed in a few months. I anxiously awaited, and as soon as the seven years came up I had them removed. All of the CRA's happily took them off.
I got two secured credit cards and started rebuilding my credit. Then I went to get a car loan and was denied for having to high debt? I got a copy of my credit report and found a entry from a company named LHR INC, for $6,845.00. I was annoyed and frustrated, because no one would give me a credit card least of all a loan for that kind of money. Even though my credit was bad I did not have any student loans or hospital bills etc.
After some research I found out that this company that I have NEVER done business with obtained my debt from Beneficial TRIPLED it and placed it back on my credit report as NEW debt. WTF!
I immediately contacted the CRA's and had them removed from two of my reports and I am still stubbornly fighting them with Trans Union.
Word to the wise fight these types of practices!