twotrouble

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.

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.

They are allowed to report "settled less than full" but the balance should report a "0" balance.

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.

Just assume you are number 200

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

The clock does not start over.

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 !!!!!!

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.

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 !!!!!!

NO + 1000

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.

Where are you in S.C. ? How much is the debt ? Who is the OC ?

You can never be to careful and it's always good to be alert.

A 1099c is an IRS requirement for the OC ,but it does not mean that the debt is forgiven.

Call Verizon first and ask to be connected to a supervisor that handles the charged off accounts. Explain your situation and hopefully they will call it back from the CA and let you pay or even better maybe they will forgive the debt especially since you are still a Verizon customer (Try to get a top supervisor that can make it happen). If that doesn't work come back for step 2 for dealing with a CA. Good Luck !!!!

Welcome!!!! Maybe you could contact the OC's on the 3 small charge offs and work out a PFD. On the repo there are some great laws on which may help you get that deleted ,but since it's fairly new that one will take work and maybe time. You might want to read up on the state laws for your state on sol for repo's and IIRC some states have a law that you cannot be sued if the repo was not over a certain amount. Read the auto forum great info there and good luck !!!

# 2 should work for you.

Sorry for your bad luck but most of us have been there. I would say first of all relax, take a deep breath be pro active and don't panic we will be here to help you and you will get great advice from others. Talk to your creditors and see if they have any hardship programs that will lower your APR and monthly payment. I know for sure that Penfed will be of great help if you talk to them.

Always be careful disputing a debt still within SOL because, the chances of you being sued will likely increase. If you have the money to pay in full then there is no need to worry about being sued and you can begin to ask for "VALIDATION" to make sure you got the right CA that owns the debt and from there you can begin to negotiate a settlement ,but if they can't "VALIDATE" they must remove debt from your credit reports and you would owe them nothing. There was also a thread that I read last week where someone paid the CA and the CA had agreed to not report the debt to the CRA's and then they had written a "GOODWILL" letter to the "OC" explaining their situation and the "OC" also removed the debt from the CRA's. Read and ask questions before you do anything that may harm your chances of success. ICANHASMUNY will be along to give you some great advice, just be patient.

It seems like you are still within SOL. Be careful disputing accounts still within the SOL period becauseyou don't want to wake a "SLEEPING GIANT".

You should try the 1-2 punch now. 1st dispute with the CRA's "CMRR" track it and as soon as they sign for it send Convergent a 2nd dispute letter asking for more specific information such as all accounting that led to the charge off, contract with your signature with TMOBILE ect..... Do a search for debt validation requesting more information and use request that fits your situation. FWIW my 1st DV letter is always simple and short just asking for debt validation, but I always mail my dispute letters to the CRA's "CMRR" 1st and once they sign for it that's when I mail my DV letter to the CA "CMRR".

How much is the debt ? Did they validate ? Since the debt is past the SOL, did they state on the letter that they can no longer sue you for the debt because the debt is past the SOL ? Who is reporting to the CRA's (CA,OC or BOTH)and which CRA,s are they reporting to ?

I would try the e-mail and contact supplied Kles, just explain the situation and if that doesn't work ICANHASMUNY always has great advice.

How much is the debt ? Who is Reporting ? Was the Military Service the reason you were out of the country ? Was anyone using the phone while you were out of the country ? No, paying would probably not stop the monthly reporting and keep in mind a paid charge off is no better than an unpaid charge off. You might try writing someone in the corporate office and explain your situation to them.