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stevem11

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  1. I would not file bankruptcy over $12,000. You are going to have to get a second job or find one good paying job. If you default on all of the credit cards, banks will usually settle for 30 to 50% of the balance. They usually won't start to sue (if ever) until 180 days late. By that time, you may be able to save up or borrow from family $4,000 to $5,000 to make a settlement.
  2. Three is a good start. After your accounts age 6 months, you should see a bump in your credit score and maybe again after 12 months. Just make sure you pay them on time! Edited to add: Keep your utilization low: (under 20%)
  3. Assuming this is not a real estate or student loan account, you should be able to settle for 30-50% of the current balance.
  4. Jack-Attack, but wait a few months if you can for best results. If that doesn't work, then do another round 90 days later, if still no luck, then read about tactics against the CA's directly.
  5. Has BOA reported your new limit to your credit reports? If not, I'd apply for a new CC ASASP before your score goes down
  6. Thanks for the info. What about filing BOTH an OCC and CFPB compaint? I about to do just that against two banks.
  7. Only if you get it in writing (signed) from them. I agree that normally you should always get it in writing, but EOS refused to do so. Based on the experiences of other CB'ers and the low dollar amount, I took a shot and it worked. YMMV though.
  8. Wow, this is the 3rd EOS CCA post I've seen recently. I had a small collection with them and DV'ed them and they responded. I also disputed with the CRA's and it was not removed. So I called and actually did a verbal PFD with EOS CCA and they honored it. Paid over the phone with a CC and the collection was deleted within a week of payment. Normally you should never try this, but it was a small amount (under $100) and I figured that I didn't have much to lose. Do a search: they honor it for some CB'ers but some report that it was not honored. If it's a small amount, it may be worth a shot. Tell them you'll pay in full, but only if they delete.
  9. To answer your question, you should be able to settle for at least 50% of the current balance (i.e. the balance plus interest, late fees, ect.. accrues monthly). I've settled for as little as 30%. Banks typically won't sue until the account has been charged-off (180 days after last payment). Send a DV and limited C&D. Then call and try to negotiate a settlement. Tell them why you can't pay and offer 20-25% as a lump sum settlement. Get any settlement in writing (fax is ok) and pay by money order/cashiers check only. Keep copies of everything. Edited to add: You might want to call the OC and verify that it's been sold to the current collector and if so, ask if they can recall the debt and settle it.
  10. I actually did a verbal PFD with EOS CCA and they honored it. Paid over the phone with a CC and the collection was deleted within a week of payment. Normally you should never try this, but it was a small amount (under $100) and I figured that I didn't have much to lose. Do a search: they honor it for some CB'ers but some report that it was not honored. If it's a small amount, it may be worth a shot. Tell them you'll pay in full, but only if they delete.
  11. I had a small collection ($80) from EOS CCA. I did a verbal PFD and they honored it and removed the collection within a week. Others on CB have made the same agreement and it was not honored - do a search. For $60, I say you have little to lose.
  12. I disputed an old CO as "obsolete" about 3 months early and both TU and EQ deleted it. It was not reporting on EX, so don't know about them.
  13. Anyone use this CFPB lately? I was thiking about filing complaints against a few OC's for inaccurate reporting.
  14. If you're default interest was 30%, then 30% of $13.5k is $4k.
  15. Yes, I have a hardcpoy of my TU report showing two duplicate charge-off entries listed (they both have a status of "charge-off" and both have entries for "date closed"). The account name is slightly different and the closed dates are different, but everything else is the same.

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