Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


onceuponadime

Members
  • Content Count

    191
  • Joined

  • Last visited

About onceuponadime

  • Birthday 07/27/1988
  1. The OC is correct. Since they issued you a 1099 on this debt, that basically cancels the debt. By doing this, the OC has written it off and they cannot continue to collect, which means they can't accept a PFD. You do have to report it in your taxes, however. I'm not a tax professional but I think it's basically considered part of your income. I wouldn't worry too much, I was in a similar situation and it didn't really have a significant bearing on my taxes. However, if you can prove you were insolvent at the time you can look into other options. They can still report the information of your credit report as long as it's yours and accurate. The negative TL will age off after 7 years of DOFD on its own. I will let others chime in with further options for you since some people on here might have better insight. In my own situation, I waited until mine aged off and that might be what you have to do. Since you don't have the leverage of being able to PFD and you say they keep verifying the disputes, it might be difficult for you to remove it before it ages. If you do go that route, EQ and TU will usually remove obsolete TL early. ETA: Just having the TL on your credit report is not considered collection activity. They have a right to report accurate information for up to 7 years, in the case of negative information. I also wanted to include that since they issued a 1099, they are required to now report the balance owed as $0.
  2. To be clear to OP, rehabbing your SL will not remove the original TL on your credit report. All previous delinquencies will also remain on your report for the normal time limit (7 years) but the TL will be updated to remove any default status. In many cases (can't say with certainty in all cases), you will have a new TL that will be backdated as current. It's definitely worth considering but just wanted to be clear about that since it's a common misconception. ETA: Good luck with your situation!
  3. What state are you in? Is it past your state's SOL? http://www.bankrate.com/finance/credit-cards/state-statutes-of-limitations-for-old-debts-1.aspx
  4. Yay!!! Congrats!!!!!!!!! Sent from my iPhone using Tapatalk
  5. I can't speak to BK disputing but I just disputed an early obsolete tradeline on TU for my bf and received the same message. After I looked on the boards others got the same message and said they just checked back later in the day or the next day and were able to get through. After I checked, that's what happened to me, I couldn't get on in the morning and then tried again a couple times later in the day and then finally got through and the TL was deleted. I think this is the message they give when they are in the middle of taking action.
  6. Congrats on your progress, CB is a goldmine of info!
  7. +1 Also, there is a debt consol., management board on CB. You should check it out, it has really useful tips on how others have cut down their expenses and paid down there debt. I'm currently paying down my CC's too. https://creditboards.com/forums/index.php?showforum=79
  8. I've never dealt with this myself but I believe your bf should be able to dispute the debt as not liable because he was an AU. ETA: See this post: https://creditboards.com/forums/index.php?showtopic=506632
  9. If you don't know, you're not missing out! Sent from my iPhone using Tapatalk
  10. I was going to add this as well. Do you have a guaranteed promotion with additional schooling? Also does your employer offer tuition reimbursement? If not, keep in mind this may not automatically give you the income you're looking for and could be less practical in the long run. Sent from my iPhone using Tapatalk
  11. I was in the same situation with my first Bachelor's and similar scores. I was advised on here to not go out for private SL, which was solid advice but I also know that sometimes there's just no other way. If you have exhausted all other options I would look into lenders that offer similar benefits to fed. loans. I'm not sure what state you are in but if you happen to be in MA, you should look into MEFA - they offer some of the benefits that fed loans offer such as low fixed APR, deferred payment, etc., even though they are a private lender. If you're not I would look to see if there is a lender in your state that offers those benefits. With those scores though, be prepared to need a co-signer. Good luck!
  12. It might help to see if you can become an authorized user on someone else's account - make sure that it will report and that the card doesn't ever carry a high balance or lates.
  13. What state are you in? Something I would consider before figuring out what to work on first is what your SOL is and if you are still within it for your debts.
  14. +1 Stay patient, things will work out. I joined this board with multiple charge offs and late payments on my loans and I finally have clean reports 4 years later.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines