Still kinda of new to this board and I’ve been doing a lot some reading about the “statute of limitation” issue. I’m wondering if you have a medical collection on your report that’s unpaid if it would be possible to use the ”statute of limitation” issue to leverage a PFD letter . Thinking of collection that need to get rid of that’s over 7yrs old . It’s not being collected but it’s a little more than I can afford to pay at this time and just wondering about contacting CA and offering settlement (maybe 1/2 of what’s owed) based on fact that collection is so old. Anyone think this will work?
I have recently applied for an FHA loan. I have had some issues in 2007 and 2008. The Loan Officer gave me very positive news and I expect to be approved. My EQ score history: 2008 520, now its 669.Â
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I still have three old CO’s out there that are within the SOL for my state. Each has been sold to a CA and even they are not being very aggressive. As I have no house or really any attractive assets to share with them….:smileyhappy:
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My question is, if I get the house, do I become a more attractive candidate for the CA’s or the OC’s.Â
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I have one charge-off on my CR from ’07Â which is still owned by the OC, it is not being reported by any CA. I keep reading about people paying collections and it lowering their score, will this also be the case with a charge-off? I want to pay this, I have tried sending PFDs but I just keep getting the same response from them- NO they don’t do that. I don’t want to take the chance of this being reported by a CA but I want to be prepared if it’s going to lower my score. I’m hoping once I pay maybe they’ll go for a GW even if they won’t PFD.