the-collections » Mortgage and Insurance

Collections gone?

Mar 052011

Last year when I pulled my CR I had two CA reporting. I just pulled my CR again and everything is gone except for 1 OC repoting with a $0 balance. Should I expect the CA to report again at sometime? Is it weird for it the collections to be deleted off of all three reports?Â

** The collections are from 2006 so they haven’t reached their drop off dates.

March 5, 2011
Posted by admin at 5:16 pm
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Rebuilding Credit
again-at-sometime, all-three, collections, drop, drop-off-dates, gone-except, the-collections

Need some really good advice on how to execute my plan

Feb 242011

So I have been lurking around the forum for a few weeks trying to get as educated as possible. Being as new to this as I am, I’m still really confused and frustrated. I ran up a lot of bad credit when I was in my late adult teens-early 20s and now it is coming back to bite me. I admit to each and every debt that I have, but I haven’t exactly had the funds to pay them (until now) or I have completely forgotten that they were there. I’m trying to get my credit in order b/c my husband and I really want to have a house in 2 years. I really don’t want my carelessness as a dumb kid to haunt me forever. Here is the breakdown of my credit report:

3 apartment bills- all PAID

2 medical bills-Â totalling $1187 (still within SOL)

2 cable bills- both PAID

Capital One C/O- $745 (still within SOL)

Scholastic- $44 (still within SOL)

Columbia House- $107 (still within SOL)

medical bill- $50 (NOT within SOL)

Any advice as to how I should tackle these? I am thinking that I need to send Goodwill letters to all of the paid collections, wait until I have the money to PIF for PFD on all of the collections that are withing the SOL. Which ones should I start with. Should I pay off more of the smaller amounts so I don’t have as many individual collections on my credit report or is it the large balance accounts that are hurting me more? And what about the medical bills? I keep hearing people mention HIPAA? Now I know that there are some accounts that are small and I could easily just pay, but I want to make sure I am doing the right thing to get this stuff off my credit.

Also, I just applied for a secured credit card that I will use for groceries and gas (which are budgeted every week).

Any advice is happily welcomed!

goodwill adjustment gemoney

February 24, 2011
Posted by admin at 8:36 pm
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Rebuilding Credit
Breakdown, budgeted-every, carelessness, collections, credit, credit-report, medical, money, really-confused, secured-credit, still-within, the-collections

My HSBC card going to collections/ Advice please…

Feb 212011

I have a HSBC rewardzone mastercard that I couldn’t pay so now the account is going to collections.Â I recently received the letter from the collections agency asking me for the full payment.Â I checked my credit report and the collections agency is not showing on there yet.Â I am now able to make the full payment because I just received my income taxes.Â The ploblem is I went on the HSBC website a couple of days ago and I made the payment for the minimum balance before I got the letter from the collections agency, and HSBC accepted the payment.Â I need some advice on if I should make the payment for the rest of the balance of the HSBC website or should I go through collections.Â When I called HSBC this Indian man told me that my account is with the collections agency, but I can make the payment of the HSBC website.Â So now I don’t know what to do.Â I’m hoping that if I make the payment on the website before the due date which is on March 14th I can avoid the collections, but I don’t know if that is possible.Â Please help.Â Thanks.

February 21, 2011
Posted by admin at 11:36 pm
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account, balance, balance-before, before-the-due, hsbc, income, indian, make-the-full, minimum, payment, the-collections, the-payment

Threat of collections account

Feb 022011

I’m trying my best to stay calm and hope that I can be steered in the right direction.Â Long storyÂ Â short, Â I stayed with myÂ friend for 2 months a year ago. My friend who works for AT&T openedÂ TV/internet account without my permission ( we briefly spoke about it but I didn’t know she proceeded because she ended up getting Comcast at a better deal). Â She forgot to close the account which resulted in Bay Area Credit sending collection notices to her address under my name. She told me this and said she would contact ATT to address it because the account was never used the problem is she couldn’t reveal the account was opened without me being there because it would affect her job. I was livid but trusted that she would take care of it. Nothing showed up on my credit report so I believed it was taken care of. In fact, I opened up ATT TV/internet through her 3 months ago and there was no mention about an old account with past balance.

Yesterday, she calls me apologetically and reveals that she in fact forgot to address the old account and she received a letter from Afni, collection agency stating my account has been placed with their agency and they want to resolve it and may reportÂ to the credit bureau. They state I canÂ request validation of the debt within 30 days which (letter sent 1/26/11).

I take responsibility for not following up with her but I need to now how to fix this. I never had an account in collections and I just made one year with no late payments at all and I see my credit score which is so close to 600 going in the wrong direction. The balance due is $243.44. Do I just pay this amount to Afni, Â do the DV letter, call ATT myself and pay them?Â Is it set in stone that the collections will be reported ( scorewatch has not reported anything). What is the immediate fix that will result in no collections being reported? I need direction please!

February 2, 2011
Posted by jedwan at 6:09 pm
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Rebuilding Credit
account, account-which, address-the-old, Att, credit, Credit Score, need-direction, permission, the-collections

Let’s See How High we Can go In 1.5 Yrs.

Feb 012011

I am here because like many I want to make sure that my credit score does not **bleep** me out of a good rate on my first home.Â I plan on buying a home in May of 2012 and need to maximize my score between now and then.Â

Right now I am sitting at a 696, I have been as high as 750+.Â My most detrimental areas are a high balance to limit ratio, a 30 day late in July 2010Â (auto-pay did not work on a credit card), and a collections account that is listed as “KD” from 2005.

Accounts:

I have a Card with a $5500 limit, currently sitting at around $5200.Â This has the 30day and was opened in 2004

I have a Banana Republic Card with my Fiance that has a $500 Limit, sitting at $300.

I have a $1000 line of credit at my bank.

$4400 left on a student loan.

$3000 left on a line of credit I used to buy an engagement ring.

I should be able to paydown everything but the student loan by this time next year, leaving just the student loan with a balance.

My first question, I am interested in the impact of opening a second card with a no-interest on balance transfers so I can save on interest while paying down the $5200.Â What are your thoughts here?Â

Also, on the collections account when should I expect that to fall off, the only date I see listed is 11/2005.

Thanks, looking forward to working on this!

February 1, 2011
Posted by admin at 8:22 pm
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banana-republic, been-as-high, collections, Credit Card, Credit Score, Fiance, first-question, interest-while, looking-forward, plan-on-buying, score-between, student, the-collections, thoughts, time

That’s demoralizing

Jan 292011

I haven’t checked my FICO score through here in many years, I thought it was the same as the score I get from the CRA’s. Boy was I wrong.Â I’m signed up through Experian and check my report and score monthly. After some credit problems a few years past, my score on the CRA sites has been gradually increasing. I just went up through the TU site to 670, and I’m pretty excited about getting close to 700! Until I read on here that they are different so I decided to get my TU score through here….573. How Demoralizing.

I have 3 small collections ($200/total), a public record that falls off in March, a judgment, and 3 other CA accounts. My bankrupcy will hit 7 yrs this year.

I’m going to pay the collections and ask for PFD, same with the 3 CA’s. The judgement I’m going to pay and ask them to vacate.

If I can get the collections, CA’s, and judgement off my record…how much can I expect my score to go up? Are we talking what I thought it was now, 670? Or would 700′s be possible?

And here I was all excited today because I was approved for a small loan so I can pay all of my CR negatives off.

insurance demoralizing

January 29, 2011
Posted by jedwan at 4:42 am
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collections, excited-today, from-the-cra, pretty-excited, public-record, score, score-through, the-collections

What happened?

Jan 282011

So a week or two ago I had two collections left on my credit report, both paid and my score was 634.Â Today I check my credit report for transunion, after a goodwill success from both of the collections and my score dropped to 614.Â So all baddies gone off TU and score drops?Â Why?

January 28, 2011
Posted by admin at 5:44 pm
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all-baddies, both-paid, collections, credit, credit-report, goodwill-success, score, score-dropped, the-collections, today, two-ago, week-or-two

Question on sold CA

Jan 142011

IÂ receivedÂ a notice from a new CA today, saying they were assigned the debt from the OC. The debt is still reporting from the old CA. The new CA had my account info correct. After a call to them, they said if I could pay the collections by the date they were set to report for the first time (2/2) they would not report it to the CB’s…has anyone heard of this before? In the same conversation, the collector said the OC still owned the account, and they could not PFD since they did not own it. How could this bite me in the behind? I could manage to pay it by 2/2, and the collection is new enough, i would like it to go away.

Does this sound valid..if you clear up a collection before it reports, itÂ disappears? I have til 2/2 to take care of it, if so.Â

How would I know that they were really the new assigns?

How can I get the old CA to drop the reporting?

Thanks in advance!

January 14, 2011
Posted by admin at 12:52 am
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account, collection, collections, collector, from-the-old, new-assigns, Reporting, sound, still-reporting, the-collections

Utility Co. Charge Off Questions

Jan 072011

Noticing a one year old Charge Off on my CR I contacted the utility company by phone. Normally I don’t do this, but since it was the OC…. The date is listed as 2010 but I’m sure the DOFD is somewhere in 2007.

In any case, I spoke with the collections dept. and tried to persuade them to take a PFD which they would not go for. However, they did say that if I did pay the total amount that they would list the account as ‘Paid In Full’. They then said that I could then dispute the account with the CRA and I would be satisfied with the result. I took this as that they would not respond and the account would then be deleted – a way to get a PFD if they lived up to the terms.The total amount to pay is about $400.00.

I’m very tempted to chance this, but know I should get something in writing beforehand. I’m leaning toward sending them an agreement that if I pay the balance they would have to list the account as ‘Paid In Full’. I seriously doubt they would ever sign a straight out PFD. Then I would try to dispute with the CRA. I’m looking to purchase property within the next year so I will have to pay this debt at some point.

A couple questions for you fine folks: :smileyhappy:

If they do agree to list the account as ‘Paid In Full’, does that get rid of the Charge Off status or does that remain with the ‘Paid In Full’?

Is ‘Paid In Full’ better than aÂ having the status as ‘Charged Off. 400.00 written off”.?

Is there a better option to handle this case?

As always, any comment/advice is appreciated!

January 7, 2011
Posted by admin at 7:03 am
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Rebuilding Credit
400-00-written, account, charge, collections, listed-as-2010, seriously-doubt, status-or-does, sure-the-dofd, the-collections, utility

collections question

Jan 042011

I have 11 old collections on my report(ALL THE SAME COMPANY IC SYSTEMS), half of which will drop this summer, the rest early next year. The total amount for all is less than $1000. I also have utilization of 95% right now, which I will pay down to 1 or 2% next month. The rest of my report is great, all cards paid on time always. I am wondering how much impact the collections have, as I am hoping to have a decent score after the cards are paid off, but am worried it will still be poor due to the collections. Any ideas?

January 4, 2011
Posted by jedwan at 1:04 am
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Rebuilding Credit
after-the-cards, Cards, collections, decent-score, much-impact, old-collections, paid-on-time, report, rest, summer, the-collections, will-still, wondering-how

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