I had a Suntrust bank account charge off a few years ago. I needed the account number for updating some investment information. I actually had to call the bank my account number. While talking to them I asked the rep if I were to pay back the balance in full if my account would be retracted from the collection agency. She stated that if paid in full all they would do is simply contact the collection agency to make them aware my debt had been paid in full and my account would then be listed as a paid collection. Is that possible since I’m not dealing with the collection agency and paying the bank that they work with the collection agency regarding my account? I have no desire to pay the collection agency unless I can work out some type of arrangement with them. I don’t have a whole lot of money but am looking to pay off debts starting with the small amounts and easiest to remove first. I actually have a library collection on my credit report, hopefully that won’t be on there for 7 years.

 

Thank you in advance for your thoughts and experiences.  I had a California home which was foreclosed about 2.5 years ago by the first position lien holder.  I had taken a 2nd, which was a HELOC from Wells Fargo (non-purchase funds, making this a recourse loan) with a balance of about 150.  We stopped paying it about 3 years ago.  From what I understand the clock for the statute began when the last payment was made.

 

  1. Does anyone know what state the Statute of Limitations is based on?  I tried looking for the paperwork from this loan and could not locate it.  Is it California because it was a California home or is it Delaware because Wells is incorporated there, or is their lending division incorporated in yet another state? 
  2.  Is there a forum where specific lenders are openly discussed and their actions compared to get an idea for their internal policies?  This may not be relevant as it would be the collection agency who would have the option to take action. 

I was unemployed for a year and am just now getting back on my feet.  I don’t have the ability to settle this, and don’t see having that ability in the near future.  Opinions on riding it out or other options I hadn’t considered are welcome.  However, please don’t offer moral or ethical judgements, those are not needed or welcome.

 

Thank you

 

Hello there,

 

I have 8 medical collections for my daughters I just contacted the original creditor of my medical bills and they referred me to the collection agency.  The collection agency is not willing to do a PFD for removal however they are willing to do a settlement of 20% off and stating that it is paid. 

 

If I pay the collection agency can I use the HIPPA process to get the collections removed from my credit reports?

Mar 142011
 

This is my first post. I’ve been a longtime reader, just haven’t signed up till today. This is my situation. I recently pulled all of my credit reports and saw that I had 4 charge offs and about 6 collections. Everything is from 2006, so they are well past the SOL in my state (Louisiana). I went through a stupid time in my life when I was drinking a lot and gambling a lot and really didn’t know just how much having bad credit can really **bleep** you over later on in life. I’ve since gotten married and have 2 kids and a baby girl due in august. Anyways, I sent some DV letters to 5 of the collection companies and 4 of them sent letters back saying that they are going to delete them off of my credit report. The 5th one I decided to do a pay for delete. I have the letter saying that if I paid $350 he would delete the trade line. I sent him the money return receipt, and he sent a $0 balance letter back. My questions are these. 1) can they put the deleted accounts back on my credit report after they delete them? 2) how can I get the original creditors off of my credit report? Like I said, everything is from 2006. So I only have to wait a couple more years for them to drop off. By the way, the pay for delete was from a collection agency that bought a debt that is showing on my credit report (the OC was HSBC), can I send HSBC proof that I paid and will they delete it? Or should I just wait it out. Everybody I’ve talked to said to just not worry about it because any debt over 24 months old is not really hurting your credit. Thank you all for all of your help in the past and in the future.

 

Okay, so I am paying off a bunch of Medical Collections, with the original creditor.  I am documenting everything, and I am paying a lump sum with a cashier’s check.  After the payment is made, how would I go about getting the collection agency’s accounts off of my credit reports?  Do an online dispute?  Debt validate the CA’s?  send a GW to CA’s requesting deletion?

 

Any suggestions would be great!  Thanks,

 

Nick

 

I’ve heard many times before that paying an account that is in collections is a bad thing because even though it shows as “Paid,” it updates your “fall off” date another 7 years. Is this true? I owe Bank of America $134, the collection company is willing to settle for $90, but I don’t know what to do because I don’t want to waste $90 if it’s going to really help my credit report/score either way. Any advice?

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