She saw the physical therapist after a car accident.  All of the bills were originally submitted to our insurance company.  For some reason, our insurance company did not pay the bills, and we were never invoiced directly so we did not know it had not been paid.  One year ago, we received a call from the same collection agent saying we owed $535.  We contacted the physical therapist, explained that we had never been billed, and got them to pull the account out of collections.  They sent the information to our insurance company again, and our insurance paid.  It seemed that it was all taken care of.

 

A month ago, we received another call from the collection agent, again saying we owed $535.  After several calls to the physical therapist and our insurance company, we discovered that the original invoice was for a total of ~$2000.  Our insurance company paid out only $730 because we had reached the max for our policy.  However, after receiving the $730 from our insurance company, the physical therapist never contacted us for the remaining balance, which is now $1270.  I am also at a loss as to why teh collection agent was seeking $535 in the first instance, and why they are seeking that amount now.  We have reviewed the number of visits and everything seems accurate as to the original total, so the $535 baffles me.

 

We have asked the physical therapist to pull the account from collections again.  This time they refuse (actually she says she can’t).  I find this particularly unfair since we were never invoiced, and after they contacted us a year ago and our insurance company paid we thought this was taken care of.  Since they never sent a bill directly to us, we did not realize there was an underpayment, indeed our insurance company paid more than the amount the collection agent was seeking.  Further, we updated our contact information with them at the time and they still never sent us any communication seeking the remaining balance.

 

My questions are:

 

1.  Is it true that they can’t pull the account out of collections?  For example, if they completely sold the debt do we have to deal with the collection agent or is it always within the OC’s discretion to pull the account back?

 

2.  Is there any way to force the OC to pull the account back if they never invoiced us for the debt?

 

3.  Any thoughts on the discrepancy between the $1270 remaining balance and the $535 the collection agent is seeking.  Is it possible they only sold a portion of the debt? 

 

Any advice on this is much appreciated.  Right now it is not reporting to my fiance’s credit.  We would like to avoid this reporting as it seems grossly unfair for them to go directly to a colleciton agent without invoicing us.

 

Thanks in advance.

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The point of this is stuff happens. Bad stuff happens. We ended up $60k in credit card debt between the two of us! In the fall 2010 we defaulted on our credit cards. Just couldn’t do it anymore. This is what I  have done to get out of this mess (and you can get out of it no matter how deep you are in it). First we called our mortgage holder. We explained what had happened. They wouldn’t help us before we got into foreclosure. In fact, they were quite jerks about it. Once we went into foreclosure, they were all to happy to work out a payment plan with us. This put a stop on the foreclosure IMMEDIATELY. As long as we paid the plan, we would be reinstated as soon as the last payment is done. That payment is in April 2011. We developed a budget with all of our expenses (gas, utilities, payments like mortgage, cars, insurance, daycare, etc). We have more or less stuck to the budget.

 

Then we started working on settlements or payment plans with our credit cards. Most of the major ones immediately did a balance liquidatation plan. They report the account as current on our credit report. We get a 0% interest rate and will have it paid off in 1, 2, 3, 4, or 5 years (depending on the card). The one company that refused to work with us was Chase. However, I was able to get a 0% balance liquidation on one card with them for a 8K balance this month. The other card, they served me with a summons (which I found out was not the end of the world). With O6′s help, I have answered the summons (going to file it at lunch today with the court) and I negotiated a 0% interest, no fee payment plan for the balance for 4 years. Most of the cards I was able to get a reduced sum (citicard and BOA were the best) and 0% interest plans. I have letters confirming the arrangements and that these accounts will be listed as settled in full/paid in full on our credit reports. While on these plans, they will also update our accounts as current.

 

As each settlement/payment plan was done, I added it to the budget to make sure we don’t go over the budget. I have a folder of all my documentation. I have taken notes on who I talked with, what time, date, and what was said.

 

I still have one big card that I am going to settle (5k). I tried to settle with them last fall. However, they took the payment 3 or 4 days early out of my account and caused everything to bounce. I had never bounced a check in my life!! We finally got that all straightened out with our checking account. I cancelled the remaining payment with them for taking money out and blocked them from my checking account. I also sent documentation to them (Barclay’s Bank for the BJ’s Visa) about everything that had happened. Their answer was ooops. I couldn’t get anyone to do anything there. So I am going to play hardball with them. If they happen to summons me to court, well I have all of my documentation. I am sure we will work out a small settlement than what is owed on  the card. I also still have several smaller cards in collections. They are with our favorite unsavory CAs. So I am not paying them unless I get a PFD and have it in writing. They are last on my list.

 

Anyway, at one point I was considering bankruptcy. I think that as long as we stick to our budget, we won’t have to do that. I still have some work to do on some small collections and the barclay’s card. My plan is as each card is paid off, I am going to take that money and put it towards another card. Both cars will be paid off in 22 and 23 mos. Our daughter mentioned above will be starting kindergarden in three years. Which means that I would have an additional $700 a month from daycare that could go to card payments too. I figure in 3 to 3 1/2 years we will be debt free again. At least this is what I can project (heck, we have already replaced all of the major stuff in the house, lol). In the meantime, I have opened an unsecured Orchard Bank card with a cl of $320. Plan to use it only to put a tank of gas on it each month and pay it off in full each month so I am building good credit history again in the meantime. After each card is paid off, I plan  to goodwill  the heck out of them to get the lates removed or whatever.  I was successful in doing that a few years ago when I had a couple of 30 day lates (back in college).

 

I just wanted to let people know that no matter how hopeless it seems, you can get back on track. There are people here that have been down this path for whatever reason and are extremely knowlegeable and helpful. I’m looking forward to when all of this mess is behind me.

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Here’s the catch, she has always paid her Amex on time so they started giving her the ability to carry a balance and she is current carrying a balance of $3k, since the line is open there is no credit limit, but I’m worried the balance will affect me in a negative way, what should I do?

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I just had a collections account taken off my record through a DV letter. I never did business with the company that account and every time I would contest it with the credit bureau, they would check this dispute and it would come back as confirmed. I sent a DV letter to the collection agency and asked them to provide my payment history and my signature on a document with the original creditor listed and within 30 days they sent me a deletion letter. They told me it would take 4-6 weeks after their request to have it removed. I am going to send them another letter stating that they have 30 since the time the DV letter expired to remove this. Is this accurate? Also, can I collect damages from the collection agency and/or bureau for confiming this debt (twice), yet after sending a DV to the CA, could not prove the debt was mine?

 

As far as GW letters go, I sent a few out and  2 out of 3 worked! The other sent a letter back saying I could put a statement in my credit report and that the account would be recorded as disputed. (I was not disputing anything.) Does this hurt me in any way? Also, I will keep GWing them, I will revise this letter since I don’t want it to be interpreted that this is a dispute. Do most people rewrite different GW letters to the same CA/OC when they send repeated GW letters? Or do they just resend the same one they sent the month before?

 

Thanks,

JohnDoe12

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• what are GW letters out as well as DV letters

To start, last week, I arranged with WFNNB to pay in full two of the cards (~$2000 total), both still being held through them as the OC. I wasn’t really aware of any other option so I gave them my bank account info and set it up that way, as they were threatening legal action if I didn’t do it on that day (I realize this was probably just pressure tactics but I was scared and had intended on paying anyway so I just went with it). The payment will not post until the end of the month, and I was told I could call and cancel it if I was unable to make it. Now I am reading about “pay for delete” and things like that and am wondering if I should just consider that ship sailed (as I’ve basically admitted I have the money), or if I should be calling, cancelling that payment, and asking about PFD. Is PFD going to cost me substantially more? If so, I can only do it for some of the cards– Literally my whole backpay amount is taken up by these cards, since they include late fees.

The other two accounts (Citi and HSBC) I have not yet made arrangements with. They have both offered me settlements which I did not respond to as I did not have the money at the time. I don’t know how to find out whether the debt is still held by the OC or a CA at this point– Looking at my yearly credit report, Citi is listed as charged off but still shows a recent balance, HSBC is just listed as “closed” but also has a recent balance, however the settlement offers I recieve from them are not coming from HSBC, but “firstsource advantage”, so I don’t understand who owns it anymore.

So basically, I am trying to consider the best option for me, both short and long term. Up until the last 8 months, I have always been on time with my payments. I don’t know if my best options are to just pay it off in full and move on, or if I should even be considering settlements, or PFD (some of these accounts are barely 2 years old, some since 2004). I have other accounts in both good and bad standing, but it’s just these four I can’t keep up with and am ready to get away from. Thanks in advance for any advice that you can offer.

 

myFico gives these reasons:

 

1. You have a collection and a serious delinquency

 

It says I have 1 account over 60 days late or worse and have a number of collection. I do have 5 collections but the most recent is was over 3 years ago. I am currently waiting on a response to a PFD on this one. The others are literally months from falling off and I thought if they weren’t within 2 years they wouldn’t have such a negative impact? The serious delinquency is what I have a problem with and I will discuss this below.

 

2. You have a short credit history

 

The average age is 11 years, 7 months but the AAoA is 4 years and there isn’t anything I can do about that.

 

3. You have a recent collection

 

This is the same one mentioned above at 3 years, 1 month ago.  A very costly oversight on my part. OC wouldn’t let me PIF even though it was only 30 days late. But again, isn’t it old enough to not not be impacting my score so heavily?

 

4. You recently missed a payment or had a derogatory indicator reported on your credit report

 

But it says it was 6 years, 6 months ago! Is this what Eq considers recent???

 

 

But my main problem is Portfolio Recovery Assets. I had a vehicle repossessed almost 6 years ago and it looks like they may have bought the old “alleged” debt. On my CRs they are listed under “Accounts” with the rest of my open and closed accounts in good standing. This is the deliquency I believe myFICO is referring to. There are no others. Even though the description shows collections they are reporting a 120+ days late! Can they do that? None of the other collections report this way, they are all listed under the collections heading. Not to mention they are reporting a last payment which of course I’ve never sent them. And lastly they are calling themselves a “factoring company” and from what I understand that definition is reserved for companies who buy debt while it is still in good standing, not in default. Is this another shady tactic to confuse consumers? 

If you have gotten this far, well, thanks for taking the time. If I could sum it all up in 3 questions they would be:

1. Do you think the way in which Portfolio Recovery Associates are reporting could be what is keeping my score from going up? (It was a joint account and every month when the CA tacks on interest it and updates it actually drops my DH’s score…it’s happened repeatedly. Should a 5 yr old CO cause that?)

 

2. When a lender reviews my credit, does the almost 4 years of flawless credit count for more than the 3 years of irresponsibility before it?

2. When does a negative item become old enough to hurt your score less?

Thanks for your time.

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Is purchasing the FICO scores something you would recommend in this situation?  Or are we better off to use what we already have as a good starting reference point- and pay for them once we reach our 1st goal in 6 months?

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I had an Auto Loan that was opened on: 2/1/2004 I was in over my head and the vehicle was reposessed on August 2005.  <- This is also the last date the OC reported.

 

Me being foolish I dodged bill collectors for several years that were trying to get the remaining balance on the Auto. Fast forward to May 2009. I was looking to buy a home and the Repo is still on my credit showing Charged Off $0 Balance by the OC. I had no problem getting approved on the home since this showed nothing was owed. During closing I get a letter summoning me to court. The creditor this was sold to is now trying to get a judgement. I rolled the dice and paid an attorney to answer the complaint for me and fight it if necessart, the main reason was to buy time incase I got the judgement was granted in their favor. I didn’t want the lender to see this and deny the loan at the last minute.

 

The attorney was able to get the collectors “attorney” to drop the suit without prejudice. Meaning if they decided later they could suit me.. he then asked If I would like to counter suit them for his time and money etc.. It was included in the original retainer. I had no problem doing the .. needless to say they decided to settle on dismissing the case with prejudice meaning they can not try to collect on this ever again.  This is a good thing. I never got a judgement for this nor did I have the pay the deficiancy balance.

 

I am now doing some gardening on my Good Credit. Have been ontime with ALL my bills since April 2008. I was wondering if I disputed what the OC is showing on my credit file given that I have a court document stating that this was dismissed… Is it possible I can get this removed from my credit file?

 

I am no attorney or expert and I should of asked my attorney at the time but this was a few years back. Regardless this line makes me believe that it should not be reporting on my credit file.. Any suggestions if it is worth trying to remove? The only weeds I have to pull are now weeds I grew years back since I have done so well since.

 

2 Mutual Release.
All of the parties to this Settlement Agreement, as well as
their predecessors, principals, related individuals, relatives, assignees, transferees, insurers,
agents, attorneys, successors, and heirs, shall be and hereby are RELEASED, ACQUITTED
and forever DISCHARGED from any and all suits, liens, debts, damage claims, judgments,
costs, expenses, obligations, demands and causes of action, whether by statute, in law or in
equity, of every nature, known or unknown, which the parties have or may have against each
other which relates to or arises out the subject matter of said litigation.

 

 

 

Short Story:

Got Auto Loan

OC Repod Auto

Charged off Deficiency balance

Sold Debt to CA

Bought a House

CA tried getting Judgement (while closing)

CA Failed getting Judgement

 

Can OC report Charge Off if CA was unable to get judgment and court docs stating this was dismissed? Refer to Court doc Line 2 above.