HooahDOC

Yes, I agree. Without it reporting, there's really no reason to pay it. I would guess it must be outside of SOL and even CRA reporting timeframe since I haven't seen it on my reports for almost a year. I think -- and correct me if I'm wrong -- the best course of action would be to sit tight, do nothing, and hope there aren't any surprises between now and closing.

There are no dates on the letter. It's been so long I don't remember exactly when I even had the account, but I checked my credit reports on myfico.com and it's not on any of them, but they only go back to August 2015. I don't have reports from earlier than that, but I know it's been at least 5 years or more since I had the account. I'm tempted to login to their website and get more info, but I'm pretty sure they track that somehow and would know I'm active and be a bit more motivated to do something (like report it to the CRA). If it does show up and is somehow legit (doubt it, it's been so long), at the very least I hope the lender and UW would just want me to take care of it and move on to close. Hopefully something like that wouldn't kill a deal.

INFORMATION UPDATE: Let me add a bit more info to this since I've learned more, plus a bit of context. The context for receiving this letter in addition to what has already been mentioned is this: my wife and I were just cleared to close on my first home a few days ago. Everything is good to go. Unfortunately, the sellers did not want to move the closing date up so we will not close until May 12. The lender, like most, will, "recertify" about 3 days prior to closing. I'm very, very nervous/anxious and stressed about the wait time, as I'm concerned something may change/pop-up on my credit that will prevent us from closing; that would be super not cool. Regarding this letter, I did some research. It looks like this is related to a, "Bill Me Later" credit account I used to have, as it appears they have changed companies/creditors a couple of times. This tradeline has not been on my credit report for at least two years, possibly longer -- I can't really remember the last time it was on there. The actual account, again from what I can remember, was opened in like 2007? Sometime around then, but that's just a guess since nothing has been on my credit report for at least two years if not longer, so I really have no idea. Having said that and putting it into context, I need some very good advice on how to proceed: My only interest right now is to close on May 12 as planned. Obviously, a new collection or an old debt suddenly showing back on my credit report would presumably kill the deal and we would not get the home? I'm concerned if I ask for a DV or whatever I need to do, any response would prompt either the CA or the OC to start reporting again. However, I'm also concerned that completely ignoring it would end up in them starting to report again; whether the reporting is accurate or not is a moot point, since any change to my credit would derail the home deal. So, I'm stuck. I have no idea how to proceed and would appreciate any sagely advice. I'm going to try to find older credit reports to find out the DOFD and all that stuff. I really hate this, "do nothing and wait until closing" time period. It's torture.

I'm not sure if FACTA applies, as neither the CA nor the OC are reporting anything on my CR. There has never been anything related to this alleged account reporting either.

What should I do with this? Ignore it? It's from, "ARS National Services, Inc" and includes the last 4 of an account with a balance of $2,3xx and says is in, "Reference to your PayPal Credit Account". I have NEVER had a paypal credit account and I have NEVER had an account through the creditor, "Comenity Capital Bank". The letter is offering a 48% settlement. Obviously I'm not going to pay anything, but what should be the next step? I've managed to increase my FICO by a little over 100 points from Sep 2015 up to now and really don't want some BS like this screwing it all up. Should I call? Sent a DV letter?

Thanks, this is what I thought and wanted to clarify. I'll ignore URS and keep trying USAA when I can.

What is CCT?

For married co-applicants, do they look at only the highest AE FICO? And what scores are usually necessary to qualify for the special dealer incentives/programs?

There is some misinformation floating around this thread, so to clarify: USAA Charge Off is about 3 years old, still within SOL. USAA is reporting an outstanding balance of about $5,300 with a, "past due" amount of about $1,900, and is reporting every month as a 180+ late/CO. United Recovery Systems (URS) is NOT ON MY CREDIT REPORT NOR HAS IT EVER BEEN ON MY CREDIT REPORT. I received a letter from them a few days ago offering a settlement amount for about $2,100 as well as a 6 month payment plan. The plan isn't necessary, but hey why not use it if I go that route. Whatever department in USAA that I have been trying to connect with is nearly impossible to do so. I have been transferred to numbers that don't exist, transferred to numbers that constantly ring, transferred to a number then placed on hold for up to 40 minutes with no answer, or placed on hold and waited for about 20 minutes then got disconnected for no reason. I have asked for direct numbers and extensions, only ot be provided numbers and extensions that simply redirect me to the main customer service line. I have very limited time and certainly don't have the time to spare dealing with this sort of crap. Needless to say, I have absolutely no interested in ever using USAA for anything. My primary question concerning the settlement offer with URS is this: if I do take the settlement offer and pay URS, could/would this result in both the original USAA charge-off staying on my credit report but with a zero balance AND A NEW TRADELINE from URS reporting a paid or settled collection? My assumption is that as long as USAA still owns the debt, URS cannot report as a second party since they don't have an actual claim to any of it to do so.

Strange. USAA still retains the debt, which I have verified by contacting them. USAA has a specific department that handles stuff like this, and it is apparently very understaffed. They are open only specific hours during the week, and my work schedule does not afford me the luxury of sitting on hold for 40+ minutes at a time.

I got a letter in the mail from a collection agency utilized by USAA. Per my credit report, USAA retains the account as they still report a charge-off with an outstanding balance. I have been trying to discuss with USAA directly a settlement but they are pretty much impossible to get into contact with, at least the specific person I must talk with. I've tried about 13 times so far and never make it past waiting on hold for up to 40 minutes at a time. So today I get a letter from "United Recovery Systems" offering a settlement for about 50% of the outstanding balance, which is what I was going to attempt to get with USAA directly. My question is this: if I agree to the terms, would this result in both USAA and the collection agency reporting to my credit? Currently it's only USAA (since they still own the debt). I want to take care of this, but not at the expense of a brand new negative tradeline on my reports. Any guidance is welcome. Thanks.

What does, "dw" mean? I see this all the time and still have no idea. What is the spouse has lower income but higher score? I think my wife's auto enhanced FICO is mid to high 700, whereas mine is 654. Would it make a difference?

I'm working on improving my credit. Currently I only have a secured card for the past 18 months. I'm thinking of opening a new unsecured account (hopefully with a very nice limit) through NFCU but I'm not sure I should if we plan to try again in 6ish months.

Yes, this place turned out to be very shady due to their, "10 day VA compliance rule" claim and many other things. They wanted copies of everything including social security card and driver's license emailed or faxed, and when I said I'd rather bring them in person and if that was possible they stopped responding to me completely. My credit was also pulled prior to actually completing the application; there is a vague statment when you begin to apply that you must click on authorizing them to review credit and financials, then you're brought to a blank application form. I completed some of the information but wasn't sure if I wanted to continue with them, so I started emailing some lady to ask a few questions. Suddenly, I get a random email saying I've been preapproved and got a hard inquiry from them on my report. I started digging some to get names and such, and drove to the office address on their website -- it was a UPS store. I searched the business on the secretary of state's website and their principle office location is a house an hour or so away. Needless to say, I did not supply any further documents and will not give them any business. I wonder if they should be reported to the VA or something?