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HelpmyCredit90

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Posts posted by HelpmyCredit90

  1. Posted

    You know what? I'm going to leave and join my fico, you guys are seriously way too chicken sh!t and paranoid.

     

    When I read a lot of old threads, it seems everyone was in the spirit of raising hell with collection agencies, all I hear out of people anymore is "oh noes! they might sue me! I'm scared!"

  2. Posted

     

    Did not want to mention this until now. But I had two debts in 2008 (when I turned 18) through paypal for almost 8,000 dollars, and another one through US Cellular for 1900.

     

    I DV'ed the debt with paypal's collection agency, and they sold it to another C/A. I sent that collection agency a FOAD letter because they bought a debt that was invalid.

     

    I DV'ed the debt with US Cell, whoever they sold it too (I think it was NCO) and they could not verify it, so they deleted it.

     

     

     

    This was 8 years ago, so it's long past SOL and long past the 7.5 years. Never a peep out of either account.

     

    So the whole "just because it's deleted doesn't mean it's gone" is BS!

    Just because 2 creditors did not pursue you during the crash of 2008, does not equate to anything now.

     

     

    Then by the same logic, anything posted here 2008 or earlier is useless as information.

  3. Posted · Edited by HelpmyCredit90

    Did not want to mention this until now. But I had two debts in 2008 (when I turned 18) through paypal for almost 8,000 dollars, and another one through US Cellular for 1900.

     

    I DV'ed the debt with paypal's collection agency, and they sold it to another C/A. I sent that collection agency a FOAD letter because they bought a debt that was invalid, they ended up deleting it.

     

    I DV'ed the debt with US Cell, whoever they sold it too (I think it was NCO) and they could not verify it, so they deleted it.

     

    ..and yes, both collections were on my Credit Reports.

     

     

    This was 8 years ago, so it's long past SOL and long past the 7.5 years. Never a peep out of either account.

     

    So the whole "just because it's deleted doesn't mean it's gone" is BS!

  4. Posted

     

     

    It had nothing to do with the way they closed my account..

    That's not what you said earlier in this thread.

    He's a liar.

     

    Ok, we have SnowFlake. And we have CrapFlake.

     

    I propose we change OP's name to ReReFlake.

     

     

     

    I don't know what happened in your miserable life to make you act like Sergeant Hartman from Full Metal Jacket, but keep in mind it has no effect on me, so I don't know what your trying to accomplish by acting like that, but if it pleases you, then keep on doing it.

  9. Posted · Edited by HelpmyCredit90

    Remember, a deletion doesn't mean you aren't responsible for the debt, and doesn't mean you won't be sued.

     

     

    So when I called OCCU and they said the debt will be written off as a loss, and deleted from TU, EX, and EQ, it's going to rise from the dead like Jesus and I will be sued?

  10. Posted

    ..and another one:

    Lawsuits are a very expensive, slow process. The court system is so clogged that it takes months for a case to be heard (the average is 16 months). In addition, an out-of-state creditor is required to sue you in a court in your home state. This means he must hire a local collection attorney who expects payment regardless of whether or not he ever collects from you. The creditor risks not recovering the $2,000 or more he pays the collection attorney to sue you. Your creditor will chose a vast array of other options before he will resort to a lawsuit, so most threats of suit can be safely ignored. For example, if the debt is secured, your creditor will generally repossess the collateral. If it is unsecured, he might offer you a reduced settlement or new payment arrangement to get you paying again.
    Big creditors don't sue over small debts. The collection letter claims that you will be sued for the $284.37 you owe the XYZ Credit Card Company, but the odds that they will sue are extremely small. A creditor isn't going to risk not recovering the $2,000 it must pay to a collection attorney to sue you over a $285.00 debt. That's why credit card companies (and other big unsecured creditors) write off millions each year in uncollectible debt and simply pass on the cost of this to consumers in the form of higher interest rates and fees.
    A general rule of thumb is that if you owe less than $1,000 the odds that you will be sued are very low, particularly if you're creditor is a large corporation. In fact, many big creditors won't sue over amounts much larger than $1,000. When you consider that the time, effort, and manpower involved in suing someone often exceeds $5,000, then you understand why many of them won't sue.

     

  11. Posted

    Ya..sure...

     

    The creditor does not want to waste administrative time, labour costs, and out-of-pocket expenses on small accounts because it is simply not cost effective to do so. At many large creditors this threshold might be somewhere in the $4,000 to $5,000 range. At other creditors this threshold might be closer to $10,000 or $15,000.

     

    I've read the "I've been served threads" and it's almost always accounts 3,000 dollars and up.

     

     

    BTW many courts are handling fewer and fewer cases due to budget cuts.

     

    Another biggie...my last occupation on my reports was retail making less than 12,000 a year. I also have no house or car payment so I am under the assumption they pretty much think I have very little money and assets and would be like getting blood out of a turnip.

  12. Posted

    I am mainly here to post about my progress than to seek advice.

    Everyone tells me to read the boards, but a vast majority of that I find is over 10 years old and then if I read newer threads within the past 2-3 years, so much has changed since 10 years ago that it's difficult to comb through what is relevant.

  14. Posted

    I have them on my CR's.

     

    I researched all the debt collectors before engaging with them and MCM is so terrible (lawsuit after lawsuit) I actually emailed the exec office of credit one bank and told them to either delete the TL or hire another C/A.

  19. Posted

    Keep utilization under 9 percent, or in your case $45.

     

    Utilization is across all accounts, pay in full by the grace period to avoid any interest. Otherwise you are paying money for your money. Call Wells Fargo Credit Card Servicing and they should tell you the grace period.

     

    If you pay your balance before the balance status is sent to the credit bureaus (you will need to call to find out when, it varies by lender), then utilization is not a big deal.

  21. Posted · Edited by HelpmyCredit90

    Synchrony Bank is going to be a nightmare.

     

    I got one collection agency to stop collecting the debt on an Amazon account, well since they did not buy it, Amazon recalled the debt and will hire another C/A

  25. Posted · Edited by HelpmyCredit90

    So if somehow a tornado rips through my town and a file cabinet lands in my yard and it has someone's credit card bills in it, I could fake being a collection agency?

     

    I'm not going to pay someone until they prove they own said debt. Hell anyone could claim I owe them money if that was legally true.

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