Paying off Collections and Charge-offs

Feb 132011
 

I decided to pay the 6 accounts on my credit report. I decided to pay in full, and for the ones I can pay for deletion would be great. Two accounts will be deleted when I pay, the other four I having negociated yet. Any advice before I do this? I read the good and the negative, but it seems like in the long run if I can get them removed that great for my report, but even if I pay in full it is better than a settlement. I am just waiting for my federal refund to do this.

CRA disputes and GW letters.

Feb 112011
 

I recently disputed 2 negative TL’s with all three CRA. My Citi had 1 60 day and my Chase had 1 30 day and 1 60 day.  The disputes are still pending however I called both Chase and Citi and both agreed to remove the negative notices. Should I cancel my disputes with the CRAs or just let them go through?  I dont want to dispute something that they are agreeing to take care of and I’m nervous it’s going to mess everything up.

Advice please!

Queston about CA reporting

Jan 232011
 

How long do collection agencies take before they start showing up on credit reports? In my previous post I listed my negative accounts but my credit report doesn’t list any collections… Boy am I confused!

Exactly what constitutes a revolving account?

Jan 232011
 

Are collections accounts on a credit report counted as “revolving” lines of credit?

2 out of my 3 CRs state that “AMOUNT OWED ON REVOLVING ACCOUNTS IS TOO HIGH” in the section where they provide you with your strengths and weaknesses.

(All in caps just like I quoted it, too :smileysurprised:)

 

This is peculiar to me because I only have open one small personal loan with a current balance of about 200 dollars.

In fact, it also states (same place) that another negative factor is that I have no open CCs!  

What is this madness?  lol  

 

I apologize for peppering this board with so many questions, but I need to get to the bottom of this.

Thanks in advance for any insight.

 

 

Want to know if it is worth it to pay a debt

Jan 182011
 

Hi,

 

I’m a recently graduated student and I’m trying to build up my credit. In college I had a joint credit card account from wells fargo, due to a disagreement with the joint holder, we both stopped paying on the card (stupid now that I look back at it). Anyway to cut the long story short, the card got charged off and the account has been sold to a CA.

 

I called the bank that issued the CC and they said that their record of the charge off would never change even if I paid the collection agency. The charge off was in September 09 and in April 10, my credit score was 582. I have no other negative entries on my report report, and it has increased to 619 as of late November, but it seems the charge off is holding me back badly.

 

The joint holder has said he is never going to pay, so I have to pay the whole thing. It is about $9000 and I can have it paid off in year without problem. The negative report will fall of my credit report in sept. 2016, and the next thing I will need to have good credit for is most likely a mortgage which will be around that time so it shouldn’t be a problem

 

With all that background info, how much difference will it make to pay it off? The only other debt I have are student loans of about $10,000 and CC cards under $500, and I would rather use the money to service those if paying this will make no difference.

Another Child Support Issue

Jan 072011
 

I have been paying my child support and arrearage after finding steady employment now for over 2 yrs.  In that time, I have worked extremely hard to knock the arrearage out ($15,000 in 2008 to $3,000 at the beginning of 2010).  I have been constantly fighting with the child support services in my state to correctly report the amount that I owe on my credit report.  I currently have disputes being investigated w/ all three credit agencies.  The dilema I’m having is due to the negative information on my credit reports, my credit scores are in the low to high 600′s.  However, when I apply for a loan to buy a car, everyone is telling me that my FICO score is 0.  I don’t understand this at all.  In the meantime, I have applied for a secured credit card, attempting to find the culprit of the deceptive information from the child support agency (as of this afternoon, the county circuit clerks office has on record that I’m $8400 in arrears while my credit reports all state $7100), and will pay off a couple of medical bills that I was disputing w/ my insurance company.

 

Can someone please explain why my credit reports have my scores as 600+ while lenders are reporting a 0?

ER Solutions notice not showing on credit report

Jan 022011
 

Hopefully I can get some good advice as to what I should do in this situation:

 

I have a bill from Qwest from about 3 years ago that I unfortunately was not able to be paid.  It went to Allied Interstate early 2008.  For some reason, about six months ago, the negative charge was removed from all 3 credit reports.  Well, now I’ve been getting letters from ER Solutions since July of 2010 demanding the amount.  I still do the owe the charge and still plan to take care of it.  The problem is I’m about to purchase a house and do not want this to affect my score.  

 

Here is my thinking:  I’ve been letters from ER Solutions in the last six months but they are not actually reporting it to any of the CRAs.  If I proactively pay the bill now through ER Solutions, I’m worried they will in fact report it negatively on my credit report and it will show a delinquency (something that is not on there now). 

 

What do you believe would be the best suggestion in my case?  I’m thinking either:  1)  Pay the OC Qwest and hope that ER Solutions doesn’t report it or 2) Wait until I’m actually in the house and it’s set in stone and then take care of the charge through either Qwest or ER Solutions.  I understand it was my debt and I will pay them off – I’m just not sure how to smartly about this to make the best credit decision in a timely manner.  

 

Has anyone else come across letters from ER Solutions this long ago, but still hasn’t actually reported anything on your credit reports?

 

Thanks!

 

Brad.

Does HIPAA apply

Dec 302010
 

Just wondering if anyone can tell me if the HIPAA process applies to bills that were paid through collections? We had some medical bills that were sent to collections. We paid them off through the collection agency. They show up as paid on our credit report, but because of the negative, still affecting our credit score.

 

Any info will be appreciated!

 

Thanks,

ldohve

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