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Debt Consolidation, Counseling and Management
You're in debt and don't think you'll ever get out, maybe got some late payments, but are trying to work something out so you don't completely trash your credit. Discussion of Debt Management Programs, debt consolidation, settlement and consumer credit counseling programs.
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Our picks
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Do Charged Off Credit Cards Stay on Your Report After They're Sent to Collections?
SandwichFace posted a topic in Credit Forum,
An old CapitalOne credit card was charged off. It went to collections and the collections account appeared on my reports. The original CapitalOne credit card disappeared from two reports but is still on Equifax.
Do original creditor accounts that are charged off usually stay on your report after they're sent to collections?
Is there any way to get the original charged off account off of my report? It seems odd that basically the same account can show up as two negative items. If it can come off, can you please help me find some resources to help get it off? I found this article but it doesn't help much: https://blog.credit.com/2012/08/credit-report-double-jeopardy-means-double-damage-61199/-
- 5 replies
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Need some utilization advice
pokerdave posted a topic in Credit Forum,
Back in July I put 100k on various credit cards to invest in a venture. Was supposed to be paid back by end of Nov but ran into a few pitfalls and am now looking at Apr 1. I currently owe about 55k . . I have 125k in available credit 131k if you include Walmart. My experian also has a 24k authorized user card so it lists available credit as 155k and is my highest score .
Nfcu 25k /34k limit
Amex 7k/25k limit
Boa 19.5/40k limit
chase 3300 , they closed my card because of my activity , it was only 2 months old. This has 0 pct for the next 15 months.
I also have a discover card that I pif that reported 980 last month and has 1300 on it this month.
Current scores are 720 EXp, 704 Eq and 698 Tu
Would like to get my scores above 740 by mid January as I will be financing a 2017/2018 used car and want the best rate.
All cards are currently paid above minimums for January and i have an additional 10k minimum and possibly up to 15k to use for payments.
Question 1.
Is there any advantage to not letting Discover report. I can push that 1300 off till Feb 6 without interest.
Question 2.
My EX only dropped from 714 to 709 when Chase reported it was closed. Reports were 7 days apart, so is it advantageous to 0 that out even though I have 0 pct and am paying 150 pct of the minimum monthly.
Question 3
Before taking into account the auto financing I had been attacking my BOA card because that was the highest rate and NFCU the lowest. Will i get a better bang for my buck if i get my NFCU under 50% vs paying down BOA.
Question 4
the last month I have been turned down for CLI from Discover, and my 2 Cap Ones based on my high utilization even though those are 9 balances. I also have a 6k limit Pennfed that i got in August before all these reported. It is 0 pct but i have not transferred anything because of the low limit would it hurt to transfer 2900 to that card or just leave it alone. I also have not asked for a higher limit because I dont want to screw up and get that card closed.
Last Question
In my Boa online they have been telling me that I have a special offer for a 0 pct free balance transfer offer. Is there any downside to applying for that . I have not seen any talk about Boa special offers if they usually get approved or not.
Thanks for any suggestions.
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- 9 replies
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Experian Credit Check Total-what the he**????????
trying2getbackin posted a topic in Credit Forum,
I have had this service for the last 3 years, 24.99 per month for daily pulls on all 3 bureaus. Today I could log in, I called and was told I was "upgraded" to their new platform. The monthly charge is the same, but instead of daily pulls on all 3, it is now only once every 90 days. Pay the same but now get less!! Also, the new layout is horrible!! Anyone else been "upgraded" to? How do you go back to the old system? If you can't, where else do they provide daily reports and scores for all 3 bureaus?-
- 18 replies
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A year after BK..low scores and still overwhelmed
ch1c posted a topic in Credit Forum,
Hello all,
I filed bankruptcy last year and was discharged 7/20/17. Good news I guess - but my scores still suck, currently my TU and EQ scores are in the low 500s. My EX score was at 600 last time I checked.
I have floated in and out of this forum and other websites looking on how to start the rebuilding process and just end up feeling overwhelmed. I aspire to have better credit, just don’t know where to start and feel kind of hopeless.
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- 11 replies
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Happy Dance: My TU Score jumped 109 points to 790!Happy Dance: My TU Score jumped 109 points to 790!
powers64 posted a topic in Credit Forum,
I just came to do a little happy dance. I have been a member of this board for over 10 years. I have struggled a lot. I made some progress, got some cards, then had some medical issues in 2011 and everything collapsed. Back at it. About 3 years ago, i started really working at it again, but all of the 2011 issues were still haunting me.
Finally this year, i made a bunch of progress.I still had only secured cards until a couple months ago when i finally got a Citi AA card with a $8400 limit - the largest card limit i have had in decades.
This week, 2 of my last baddies dropped off and voila! HUGE score jump. I am so excited! Thanks to everyone over the years that has helped. This board has been a constant source of support!-
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- 11 replies
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Posts
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By GreenDragonLady · Posted
That was pretty much me when I was a single mom with two kids and no child support. -
Gotcha! My utilization rate is 6% so I just figured having access to higher CL would help lower that and boost me over 800. -
By cashnocredit · Posted
My read is that in a small number of local rulings, JDBs that have sent a 1099-C may lose the right to collect the debt but in most jurisdictions, they don't lose that right. Some, but not all, triggering events are caused directly by events such as state SOLs. Especially in those states with short SOLs. When the latter occurs the JDBs may not continue collection efforts unless they also notify the consumer that they will not be sued if they don't pay. However, they can continue to report the debt for 7 years from DOFD. In this case the creditor is the OC, not a JDB. They are reporting the balance as 0 but also reporting that the account was charged off. They are probably using best practice in reporting the balance as 0 given they filed a 1099-C. That also means they aren't going to sue for the charged off debt. An unpaid debt that is charged off can normally still report a balance due unless it is sold to a JDB at which point the OC may still show a charge off but must also show a zero balance. -
The takeaway here is that you should have no expectations of privacy.
The CSO is just delaying the inevitable - time to dust off the old resume.
Sent from my SM-N950U using Tapatalk
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