dell » Mortgage and Insurance

On a short timeline- urgent need advice

Mar 042011

Dell Financial has sold my debt to MCM. MCM contacted me today and said they are reccommending my account to an attourney in my state and this is a courtesy call to settle the debt. They have offered to consider the debt paid in full for 50% of the total owed. HOWEVER, DELL FINANCIAL is still reporting this debt every month as late even though the status says “Account chared off/ written off.”. MCM is not even showing up on my credit report yet. MCM said they will list the account paid in full but that they have no control over what dell is reporting. MCM says that they’ve only owned the debt since early February. How can I get Dell to report this paid in full, or at least stop reporting it. What leverage do I have with Dell if I pay MCM? MCM says I need to pay today for this offer to be valid. I want Dell to report this paid in full, not MCM. Pleaase help me, I dont know what to do.

i settled debt dell

March 4, 2011
Posted by admin at 4:11 pm
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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.

February 25, 2011
Posted by admin at 7:44 pm
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Advice on a charge-off settlement that I made with CITI and a CA

Feb 012011

Hello. Need some helpful advice and thanking you in advance!

I had a credit card with CITI that was charged off in 2006 that is now listed as $8500.Â DOFD= February 2006.Â

The account gained like 5k worth of interest.Â The original amount was like 3000.Â I tried setting up a payment plan with an OC right after it charged off and they magically ended it and started coming after me for more.Â

Fast forward to now.Â I recieved an offer to settle it last year for about $2500 from CITI.Â Didn’t have it at the time but had about $1500.Â They would not accept.

I called the number I have on file for CII to see if they would settle at around $2000 this time around.Â I had the funds.Â When I called I got a message saying that the account was being handled by a CA – ARS National SErvices.

I ended up calling the CA because I wanted to get it over with.Â THey told me the best they could settle for is $3000.Â Since I didn’t have it, I asked that he send me a fax with a payment plan option.Â

Now, I’m very hesitant to begin paying the CA, as I am not sure if I can trust them. I know and have heard that they can still come after me for the rest of the balance. Although the letter said, the account would be settled in full.Â

I have other positive credit lines and I’ve been working on building back my credit and I’m just about on the 600 border across the board.Â This account is really KILLING my utilization.Â I have about $4000 worth of available credit and it just totally sinks everything. ALL of my cards are below 10%, except for a Dell account that’s $2000/$643.Â I did the simulator and it stated that if I paid off CITI my scores would shoot up to AT LEAST 680.Â And I believe it because of how it impacts my utilization.

I was thinking of writing CITI and asking to DV and set up a payment plan through them.Â Or, I will probably have the full amount of about $3000 sometime in April and could pay in full then.Â I’m just worried that if I don’t pay the CA then they will unleash a fury of hell on me.

THanks guys!!!

John

February 1, 2011
Posted by jedwan at 8:24 am
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Asset Acceptance Response to DV–what now?

Mar 192010

I bought a computer from Dell back in 2002.Â In 2004, I was behind on payments and started a debt management program with Care One Credit.Â In 2005, I made my final payment.Â Stupid me, I don’t have records going that far back, so I don’t have any info on what the balance should be, but I was able to get a statement from care one just stating the payments that had been made.Â A few weeks ago, I received a letter from a CA demanding $2500.Â I sent them a dv letter, which was answered by the following letter.Â So, my question is, what do I do now?Â Although I’m quite certain this was paid to the original creditor in 2005, I cannot exactly prove it.Â The principal that they are showing is the original purchase price of the computer, before I ever started making payments on it.Â Where they got the interest/fees, I don’t know.Â What’s next?

D E B TÂ Â V A L I D A T I O N

PRIOR/ORIGINAL CREDITOR:

DELL FINANCIAL SERVICESÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Open date: 9/5/02

12234 NORTH IH 35 BLDG A Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Last pymt date: 5/31/05

AUSTIN, TX 78753Â

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

ORIGINAL ACCOUNT NUMBER: account number here

PRINCIPAL: $1289.33

INTEREST: $1167.96

P E R S O N A LÂ Â I N F O R M A T I O N

For Personal Assistance CallÂ Â Â Â Â Â Linda McDonald Toll Free: 877-234-3936 Ext: 8642Â

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â

linda mcdonald asset acceptance

March 19, 2010
Posted by jedwan at 2:47 pm
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60 days late

Feb 082010

Hi,

I just found this forum and will be studying the matterial extensively. I am certain my questions have already been answered here on some other threads, but I would appreciate if you can give me some brief comments to help me with my jump start while I continue digging into the material I find inside the forums;

I just received my first bad mark; 60days late on my credit report. It is marked for the month of jan 2010. And there is no 30days late before it.

I will place a payment to the card today to finish my past due.

1.What should be my next steps to take to remove the 60 days late mark?

2.What are my chances of removing it? OC is WEBBANK used by Dell financial services

3.How much this should affect my credit score given that this is the only mark I have. I am not able to observer this my self as I don’t know my previous score and my score is pretty low due to my high use of my limits which seems to be my major bottle neck at the moment. But at the same time i would like to know what will be the cost of this mark to my score to decide how strong I should attack this.

4. Any use of using a bad mark cleaning agency for this or am I equipped good here (I do know one no-scam agency from a friend connection who does good business from what i know but if they will do the same things i can do,Â then there might be no need)

5. I understand a 60day late mark looses its effect on the score after 2 years (Btw – Is this a fact?). Is loosing effect on score good enough; The mark remains on my report for 7 years, does it not create a problem as credit evaluators will be able to see it on my file?

Thank youÂ

debt consolidation effect on score

February 8, 2010
Posted by admin at 12:10 pm
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Charged off account – options

Feb 012010

I’ve got a Dell/CIT revolving charge account from 2006 that has been charged off.

It’s status is:

Â Â Â Â [TransUnion] Charged off as bad debt
Profit and loss write-offÂ
Â Â Â [Experian] Unpaid balance reported as a loss by the credit grantor.Â
Â Â Â [Equifax] Charged off account

I want to resolve this but I want to do so in the smartest I can.Â I have received letters from a couple of collection agencies for several years (I was originally delinquent 12/2006) and they have offered me a settlement as low as 50%.Â My question is, can I offer to pay the settlement but only in exchange for them marking it “paid in full” instead of “settlement.”?

The main points I would like cleared up, I guess, are 1) What can I get done with this account that would look best on my credit report?Â I’m assuming there’s no PFD here because it’s a revolving account, 2) What does the collection agency have the authority to update it to?, and 3) Does Dell even have an interest in this anymore?Â Or did they sell this debt completely?

Thanks for your help.

charged off as bad debt profit and loss write-off

February 1, 2010
Posted by admin at 1:40 pm
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