Does a CA updating an account they bought paid in full hurt your score?

Mar 222011
 

While I have learned a lot on this forum I still have a ways to go.   Not sure if I potentially hurt my score or not. I had a Cap 1 charged off account from 2007.  Was purchased by a CA. The CA hadn’t reported on my Credit report so thought would be safe to just pay it. Got the thank you/receipt letter and it said that  account would be reported as paid in full by federal law.. Scared that a new collection being reported, even one paid will hurt my score.. So the question is, if they report this will it lower my score?

Collection Agency Not Licensed in the State I Live……Now What?

Mar 132011
 

Dear Forum Members,

 

I had some time to waste today, so I went online to find out if a Collection Agency that is giving me problems is licensed in my state (Florida).  I searched all over, and I could not find them as being licensed in the state for collection activity.

 

My question is now what do I do?  I assume that there has to be a way of getting them to stop trying to collect on the debt, but is there a way to make them remove the information from my credit reports?

 

I did a quick look to see if there was a sample letter on the forum, but I did not see one.  Any information or thoughts would be much appreciated.  Thank you.

New to the forum

Mar 092011
 

Hi guys im Kelvin I am new to the forum. I got my fico score today and it came back at 628. I just received an Orchard card in the mail and I’m going to use it wisely but what other tips can you guys recommend. 

 

Thanks,

Credit Rebulding help

Mar 072011
 

I am new to this forum and glad i found it. I am trying to rebuild my credit and need some suggeston regarding 2 accounts in collection.

 

1. Cap One CC $1450 and they are settling for 1220. If i PIF will they remove this from my CR.

 

2. Amazon CC $476.00, NCO calling me and settling fro 50%. Will they remove it from my CR.

 

Thanks,

Debt Validation mistake?

Feb 202011
 

I sent 3 DV Letters to 3 CAs on 2/18/11 CMRRR. I read that you should include a copy of your DL and sign the document as proof of identity.

 

But I just read on this forum to never sign the DV letter.

 

Did I just make a big mistake???

 

Anybody Had Any Success…

Feb 202011
 

Hi Forum,

 

Have anybody had any success dealing with Main Street Acquisition?  I need to PFD with them!

Shared Savings Secured Loan or Loans

Feb 102011
 

Hey guys. This is my first post. I hope to learn alot and contribute as much as I can to this forum. Here’s the deal. I’m going to deposit $1500 into my credit union savings account and do a secured loan on it. My question is this – Would I get a better benefit if I split it into 2 or 3 loans; like $500, $500, and $500, or $750 and $750. Which would give me the better benefit to my credit score, assuming I made every payment on time and kept the loans open for the full term -(12 to 24 months)? Thanks in advance guys.

Is it worth sending a PFD letter?

Feb 062011
 

Hello everyone. I’m new to this forum and by reading some of the posts, there seems to be some good advice and things I never knew you could do concerning your credit report and score. I’m trying to be apart of the 700 club as well. Two months ago my score from equifax was 663, when I checked it today through TU it is 640. I have done nothing within the past two months that would affect my score. So I am upset, but I have a few accounts that I settled with and was wondering if I should/can send a PFD letter to get the negative accounts removed. Is it worth sending a PFD letter to accounts already settled?  

Settlement letter example?

Feb 012011
 

I’ve been looking all over the internet for a good settlement letter, but cannot seem to find one. I have one more ‘baddie’ on my CR and would like to settle it. I know that this forum suggests PIF, but I can’t afford to pay it now and would like to settle. 

 

The OC is Capital One. I would like to do it over the phone, but if I enter my account # on the phone it will direct the call directly to the CA which I’d like to avoid at this point. The CA is offering a settlement of 60% of the debt, but I should go through the OC, right? 

 

Anyway, I’d like to go for the best possible result, which would be settle for 60% off the total debt and having the tradeline read ‘Settled in Full’ with a $0 balance. 

 

Any advice? Letter examples?

 

Thanks

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