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  1. Do you have any assets that they can get a judgement? Can they garnish wages from your job? Are you judgement proof ? There are several types of bankruptcies that you may talk to an attorney about.
  2. I am sure that before someone gives you any advice, they are going to want more your situation such as: Do you have any assets that they can attach a judgement to ? Your job situation are you currently working and can afford a reasonable payment? Bankruptcy ? Maybe it would be in your best interest to contact a lawyer. There are many options available just be patient and follow the advice of others here that will offer you valuable advice. "JUST DON'T PANIC". Good luck.
  3. They are allowed to report "settled less than full" but the balance should report a "0" balance.
  4. Congrats on informing yourself against debt collectors and you are right that there are so many in the business of (mortgage, banking, finance) that are so misinformed about the laws of debt collection. Most of us have been railroaded and taken advantage of by debt collectors, but thanks to "CREDITBOARDS" "NO MORE". I will say that paying a collection agency does not restart the clock over in most cases. Again congrats and continue to empower yourself with knowledge.
  5. A settlement will probably report a "zero balance" with a notation which says "legally paid in full for less than full balance". Maybe you could negotiate for them not to report to the CRA's but this will be a long shot. Good Luck
  6. Hello , again sorry for your loss. First never ignore a collection letter, especially one that could possibly turn into a judgement. Before sufficient advice can be given we need to know "What state are you in"? "Who is the Original Creditor"? "What is the Date of First Delinquency"? Just for starters. Is this reporting on your credit reports and if so, "Who Is Reporting"? Next send the collection agency a DV Letter within the 30 day period as one poster suggested and if it is past the 30 days no worries send it anyway. Relax they won't take your car. Report all activity here and you will find great help. Just make sure when you send the DV that you dispute with credit bureaus first CMRR (wait until CRA's sign for CMRR letter and then mail your DV letter CMRR to CA. Don't fall for the scare tactics, you are in good hands here. Good Luck !!!!!!
  7. First you need to determine your SOL for your state. Then if appropriate you need to dispute the items not in SOL with the credit bureaus first. Make sure you follow the templates that has been laid out for you in here. "NEVER PAY A COLLECTION AGENCY" but if you deem it necessary to pay just make sure you negotiate a "PAY FOR DELETE". There is always a chance that some or all will come off with a proper dispute. Please post your DOLA and your state's SOL so that someone can further help you.
  8. Let's start with the collection accounts first. There are many items you can dispute on each account such as date of first delinquency, balance, date of last activity, and much more. I would start by disputing "CMRR" the date of first delinquency on each account with each CRA reporting the account. What does the date September 1, 2007 on the accounts represent ? Is the the date the account was opened or the Date of First Delinquency ? What state are you in to determine your "SOL" ? If that date is the Date of First Delinquency, then you could dispute the accounts as "Obsolete", but make sure you know what types of accounts you are disputing so the you can be sure to determine the "SOL" for that account in your state. Good Luck !!!!!!
  9. Give it time. Patience "Grasshopper" Congrats on getting those negative items removed. Maybe you could explain who and what they were and how you got them removed because you may be able to help others ijn a similar situation.
  10. Where are you in S.C. ? How much is the debt ? Who is the OC ?
  11. You can never be to careful and it's always good to be alert.
  12. A 1099c is an IRS requirement for the OC ,but it does not mean that the debt is forgiven.
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