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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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  5. Settlement offer

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  • Our picks

    • I sent Experian and Equifax the same exact letter.
       
      The letter provided here about deleting old address.
       
      Experian obeyed and deleted address tied to BK.
       
      Equifax sent me a letter saying they can’t locate me a file and they want 2 copies of ID to help find my file.
       
      What should I do, send them a copy of SS, and utilities bill.
       
      • 7 replies
    • I am new to this forum and excited to learn more as I go. I have used the search function but I don't seem to be hitting what I am looking for in particular and would love some advice. I am in the process of raising my scores from 760s-780s in FICO 8 scoring, to 800s+ and it appears my current limitation is my current credit to debt ratio, I have all the other boxes checked off including a credit history of 24 years and watch things closely with myfico.com account. Although my debts are very low, my CCs I have are:

      Capital One (5 years) - $9,544 limit
      Citibank Rewards (17 years) - $15,269 limit
      Bank of America (5 years) - $1,800 limit

      I have no other credit cards or retail cards. Possibly applying for an Amex is a good idea as well?
       
      So the main crux, I have applied for CLIs but because I have not used the cards near their maxes a CLI will not be approved. I have considered making purchases with my business merchant provider account with the cards so the money goes back to me and I can immediately pay it back off.  What methods of "moving" funds around to increase credit usage have you found to be successful or are recommended?

      Thank you for your knowledge on the matter. 
      • 7 replies
    • I would appreciate any help you folks can give me.  I had some lab work done and when the lab filed it with BCBS it got kicked back and I received a bill for it.  I emailed the lab to dispute the charges, and was told it had been filed with the wrong billing codes and that it would be refiled. I never heard another thing about it.
       
      Almost 2 years later, the bill showed up on my credit reports as a collection.  After about a month of sending emails back and forth, I was told by the lab that the bill was submitted to the insurance company under the wrong BCBS policy number, so insurance refused to pay it.  This, of course, is contrary to them telling me it was initially filed with incorrect billing codes.  The lab never contacted me to try to get a correct policy number, never sent me a bill, never sent me a warning that it would go to collections.  Nothing.  Just two years later it's on my credit reports.  
       
      Can someone please tell me the appropriate steps to take to get this collections removed?  The fact that they waited two years to drop this on me just boggles my mind.  BCBS has a 90-day timely filing requirement, so there's no way they can try to re-file it now.   Thanks!  
      • 13 replies
    • I have a medical bill between $100-$110 that that has been picked up by a debt collector. Original creditor wouldn't reverse despite offer to pay in full, read online to send to pay for delete. I sent a certified pay for delete which they received. The offer was to pay in full. I asked for them to respond within 15 days which would be the end of this week. So far I have not received any response via mail, just two phone calls asking me to call them.
       
      According to credit karma (I used for the credit report/monitoring  info, not for the scores), it has not been reported to credit bureaus as of yet. I have no late/collections of any kind on my credit report. I understand that they don't have to respond but is there anything that I can do more on my end? Do people ever offer to pay more than the full amount for them to agree? Any advice would be appreciated.
      • 15 replies
    • A collection agency from whom I received no dunning letter whatsoever just poisoned my EX report with an old medical collection that was removed roughly 3 years ago from all of my reports - plunging my EX score 57 points .  Nothing has hit my EQ or TU reports yet.
       
      Thankfully, having been down this route before, and with the help this this forum, I know what to do.  I was tempted to click on the dispute button on the Experian site, but I remembered that doing everything via snail-mail is highly recommended.
       
      WhyChat, if there is anything else, other than reviewing your site with all of the directions, that I need to do, let me have it.
       
      First step, opt out.
      • 18 replies
  • Posts

    • Just to play devil's advocate here ...   When we purchased a house last year, our very first effort (scanning homes on the internet) occurred approx Oct 25.  We closed on our home Dec 21.   While I don't know OP's home purchase timetable, if they were prepared to close on a similar schedule, it sounds like you're recommending they put back that close by 2-3 months to wait for this $553 debt to fall off their report, rather than forking over something like $332 to PRA to get it off now and close as soon as they're ready.   That sounds like cutting off one's proverbial nose, and stabbing oneself in the eye while you're at it.
    • CA has a 4 year SOL for being sued. Why would you want to give money to a junk debt buyer who cannot successfully sue you?    This one should be off from the CA report on march'21.   Nope, try again. How about reading the applicable statutes?
    • Have you ever let one account carry just a $2 - $5 balance to report and then stop doing that and paid all credit cards in full? I did that once when I was new to credit and had a thin file and my ficos went down. I remember calling Experian and they said if all revolvers show zero balance it is calculated in their system as if I hadn't used the credit (even though I did) and my fico score would go down.   As advised, you need to get your reports to check how things are reporting over time and determine if anything has changed.
    • BTW, a Googolplex is 10^(10^100). A googol is "only" 10^100. or 1 with 100 zeros after it.

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