Settled Dell CC CO and score dropped 30 points. Due to reaging?

Feb 252011
 

I just called in and settled an account that’s been delinquent since 2009 for 50%. It’s just been updated on my CR with $0 balance and shows status as Paid – Less than full balance. I thought this would raise my score, however, my score dropped 30 points.

 

Is this normal? Is this what I keep hearing about rebucketing?

 

Any assistance would be appreciated.

State Budget Cuts Slow U.S Economy

Feb 252011
 

 

The states are bankrupt,fees will go up,taxes are next,the states will bleed you dry,you can bet on it,75% of your income is taxed and retaxed,directly and indirectly,you have to live within a budget,why not them?

Any Experience with Glass Mountain Capital?

Feb 252011
 

They’re offering me a settlement of $1,000 on a card that has a balance of $3,000. They’re emailing me the offer, which will expire on 2/28/11. They seemed pretty OK on the phone, but the intenet search I did didn’t reveal too much about them or nearly any reviews.

My Rebuiding Journey

Feb 252011
 

My Journey so far. This forum has been wonderful in helping me to rebuild my credit.

MyFico EQ 550

 

1. CSD collections= 11 medical accounts PFD (very easy, i called them, then went bye office and paid the accounts in full and they were deleted from my CR).

2. TFC collections= 1 account, will be removed by OC (not showing on credit report yet)

3. 2 installment loans paid off this month (not showing on credit report yet) $2500

4. Car was $18000 now $8000 left (not showing on credit report yet)

 

PROBLEMS; NEED HELP

1. Network Direct: Alpat Collections Account; Charge off (2009) only revolving acct. 100% utilization of revolving acct (myfico). $775.00. What to do? It’s not a credit card, but its reporting as one. Should i pay it off with PFD and then open a secure credit card? Very lost. Will alpat take PFD? OC not reporting.

2. One 60+ days late (network direct)

3. 7 late payment accts. All accts have more than one late payment, but not more than a 30 days late, except Net Dir. Will GW letters work. Toyota Financial (one open and one closed), Conns(closed), Neighbors Credit Union(closed), Goodyear Credit Card(closed), Pioneer Credit(closed), Network Direct (again). Any addresses to send GW letters?

Thanks for all the help.

Negotiating PFD when you have already PIF

Feb 252011
 

I’ve read several times on here that if you have already paid a debt in full, your only option for removal is to GW.  Why is that?  Why can’t you offer additionaly money to have the item deleted?  Is it considered some sort of fraud if you don’t owe anything more on the debt to try to negotiate PFD?  Are they prohibited from collecting the money if there is nothing more owed?

 

I’m asking because my fiance has a paid collection that we have tried to GW without success.  We paid in full before learning of the PFD option.

Two 30D lates go to 24Mo and CC reporting Q’s

Feb 252011
 

So I have two 30D lates reporting in Januray 2009 that after this months reporting will be pushed passed the 24 month mark. Should I see an increase in my score due to the aging of these lates? My midscore is with EQ at a 681 and the closer I can get to 700 (a guideline score for a loan I’m after) the better… Also, I have a Chase card the I have a balance on of $477 ($1200 limit). The due date for payment is March 1st but I only have $300 I can pay on it until March 3rd whicch is when I can PIF. Does Chase, or any other CC, report to the CRA’s the balance shown when the statement was cut or the balance owed the day of reporting? Basically I’m wondering if they’ll report the balance of $177 that will most likely be on the statement or the $0 balance which will be 2 days after payment is due…?

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