the-balance » Mortgage and Insurance

Quick Question about paying charge off’s

Mar 162011

Hi Everyone, please help

When calling the OC to pay on or off a charge off what should be my verbiage to request a pifÂ arrangement?Â I know that I should accept or request a settlement. PFD are great however, if not the PFD the PIF is the next best thing.

If I request the PIF will that then remove the charge off status?Â Also, if I make maybe 3 to 4 payments to pay off the balance would it be better as the utilization would then should a monthly increase in score?

Yes, the charge off has been reporting in my utitlzation per my fico but not other credit monitoring services.Â The past due amount is 1266.00

March 16, 2011
Posted by jedwan at 3:53 pm
No Responses
Rebuilding Credit
balance, been-reporting, charge, credit, please-help, request-the-pif, the-balance, the-charge, the-utilization, then-remove, utilization, utitlzation, verbiage

Difficult CA – Seeking Advice

Mar 142011

I’m working on settling with a particularlyÂ difficult CA (Zenith), and I’m not sure what I should do. This was a CapOne CO (limit $500; CO amount $976), and the CA is reporting an outstanding balance of $1,511. We recently offered a settlement of $500 (same amount we settled another CapOne w/ an $800 limit for), and they countered with nearly $1,000 and an absolute refusal to delete ever for any reason.

Because the balance on this account more than tripled what we originally owed, I’m wondering if the interest/fees are even legal, but I don’t have my original cardholder agreement.

Should I dispute a portion of the debt and ask for documentation to support the $1,511 balance?Â Should I make a more aggressive settlement offer?

Any information would be appreciated. Thanks.Â

March 14, 2011
Posted by jedwan at 4:55 pm
No Responses
Rebuilding Credit
511-balance, account, balance, CapOne, debt, delete-ever, even-legal, more-aggressive, originally-owed, the-balance, the-interest

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…?

February 25, 2011
Posted by jedwan at 7:14 am
No Responses
Rebuilding Credit
aging, balance, balance-which, chase, closer, guideline-score, lates-reporting, months, owed-the-day, pushed-passed, statement, the-balance, the-statement

Is this a validation of debt?

Feb 182011

Dealing with LVNV again…

Their letter in response to my DV sent to them in AprilÂ 2009.Â I’ve been working on other things on my report and now have found my way back to them and starting thinking about this so-called validation.

“Account #7987….for (me) acquired from GE Capital is now owned by LVNV Funding, LLC.

At the time the account was acquired fro GE Capital, GE Capital advised that the balance owing was $785. Since that time, additional interest, fee, payments, credits, and offests, if applicable, have been allowed, for a current balance of $968.”

If this isn’t a validation, can I send a request for deletion the CRA with this letter or do I have to have a current DV?

Side note: Lvnv doesn’t have this account anymore. Now a collection lawyer has it.Â This is due to fall-offÂ 10/2011 but I’m afraid it will come back and haunt me.

Suggestions?

February 18, 2011
Posted by jedwan at 4:41 am
No Responses
Rebuilding Credit
account, balance, been-working, Capital, current-balance, letter, other-things, report, the-account, the-balance, things, time

Charged Off Account Mysteriously Changed Balance

Feb 162011

Dear Forum Members,

I just got an alert through my Score Watch account, and it was from a charged off Citifinancial account.Â The balance supposedly owed was $2,781 through yesterday, but somehow the company changed the balance owed to $1,807.

I must be missing something on this.Â Are they trying to re-age the account, or did they make a mistake?Â I just do not know why they would lower the balance by $974.

February 16, 2011
Posted by jedwan at 11:17 pm
No Responses
Rebuilding Credit
781-through, alert-through, balance, balance-owed, citifinancial, forum-members, score, score-watch, the-balance

Sold to Collection agency Charge off balance reporting

Jan 172011

When an account is sold to a collection agency how should the balance be reporting for the original creditor?

Balance as $20.00

Amount past due $20.00

January 17, 2011
Posted by admin at 3:27 am
No Responses
Rebuilding Credit
balance, collection-agency, how-should, past-due, should-the-balance, the-balance, the-original

Will my score increase once a repo drops off?

Jan 062011

I had a voluntary surrender back in May 2005, however, the date of the first delinquency was in Aug 2004. This account is due to drop off in Aug 2011. Also, a CA picked up the balance after it was written off and is reporting on my file.Â Will this fall off as well?

Will this help or hurt my credit score?

Joy

January 6, 2011
Posted by admin at 7:14 pm
No Responses
Rebuilding Credit
account, balance, credit, Credit Score, file, help-or-hurt, the-balance, the-date, the-first, voluntary-surrender

Question about a charged off account

Dec 112010

I have a capital one cc that was charged-off in 2009. I just received an alert that today that the balance has increased by $14. How is this possible if the account has been charged off? Are the allowed to do that.Â I know that this co is affecting my credit score, so my question is should I just go ahead and pay it off. Would it do more damage to pay it off or just leave it be because it shows as pays every month on my credit report? Im a little confused.

December 11, 2010
Posted by admin at 5:32 pm
No Responses
Rebuilding Credit
account, allowed, balance, capital-one, credit, Credit Score, credit-report, more-damage, Question, the-account, the-allowed, the-balance

Next Steps for old Credit One Account

Nov 162010

appreciate any help i can get on this one….

OC: Credit One Bank

CA: LVNV

Amount Owed: $1000 (orignal balance $300 and the rest is fees and interest)

DOFD: 2008

I’m taking aggressive measures to clean up my credit report and have paid off all outstanding debts except this one. I’ve already sent them a few DVs as well. Bottom line is, I know this is my debt and I want to take care of it. If LVNV refuses a PFD (they did in the past, but i’m going to try again) , should I accept their offer of paying a fraction of the balance to settle the account (I just got an offer to settle for $300), or should I pay the entire amount owed? How much does “settled for less than amount owed” vs “settled for full amount” affect your credit score?

thanks!

November 16, 2010
Posted by jedwan at 8:21 pm
No Responses
Rebuilding Credit
account, all-outstanding, already-sent, amount-owed, balance, credit, Credit Score, credit-report, debts-except, entire, offer, orignal-balance, the-balance

Repo showing balance, Dispute?

Oct 292010

I have a repo on my Experian credit report, showing jan 2009 repo and with a balance of 12k.

I want to dispute the balance, because they sold it to a CO and i have been paying payments to the CO and not the Creditor. Will they update this to 0 balance since the balance is not 12k anymore? Plus the CO is collectiing it now not the original creditor. Will it hurt to dispute this?

October 29, 2010
Posted by admin at 11:01 pm
No Responses
Rebuilding Credit
2009-repo, balance, balance-since, credit-report, creditor, experian, not-12k, paying-payments, showing-jan, the-balance, the-original, will-it-hurt

Older Entries

Mortgage and Insurance