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I'm currently delinquent on my Auto-loan with M&T Bank and currently is out for reposession. I just spoke to the manager and looking to do a voluntary Repo of the vehicle. I couldn't get exact information on the Credit Board regaridng this, but below are my questions: 1. I understand this stays on my credit for 7 years just like any other bad-credit history that could be bumped off. Is it the same with the Vehicle Repo? Can I bump this from my report just like any other credit pulls? 2. What are the other consequences of a Voluntary Repo? Thanks, Jd

Sorry, another newbie question, but didn't get any clarity after searching. I've got a MyFico alert for a credit card account, saying "Account Is Deemed As Uncollectible By The Creditor And Written Off As "Bad Debt" Or "Loss". My credit score actualy rose 1 point as a result of that (LOL). So does this mean the OC completely wrote off the debt as a loss for tax purposes, and I'm off the hook, or they still may sell the account to a CA?

Hello, I have an OC charge-off that is reporting like this: Account History: Charge Off as of Oct 2014, Sep 2014, Aug 2014, Jul 2014, Jun 2014, May 2014, Apr 2014, Mar 2014, Feb 2014, Jan 2014, Dec 2013, Nov 2013, Oct 2013, Sep 2013, Aug 2013, Jul 2013, Jun 2013, May 2013 120 days past due as of May 2013 90 days past due as of Apr 2013 60 days past due as of Mar 2013 30 days past due as of Feb 2013 QUESTION: Does that fact that it keeps reporting as "charge off as of....every stinking current month" hurt me worse than if it just reported like my other charge-offs which report like this (with only the initial charge-off date reporting)???: Account History: Charge Off as of May 2013 150 days past due as of Apr 2013 90 days past due as of Mar 2013 60 days past due as of Feb 2013 30 days past due as of Jan 2013 Thanks for your input!

This is an exceptionally long story, even with me trying to cull unimportant details. If I end up leaving out anything pertinent, PLEASE ask me questions - this is urgent and the stakes are very high for me. I decided to cut all of the backstory, because while it may help mitigate the situation during my eval, I'd rather have the tough talk now. I have been referred for a position requiring a security clearance - Public Trust, Secret, or Top Secret depending on the location. I unfortunately don't know at this stage where I would be going, so I assume I have to plan as though I require Top Secret clearance. Also unfortunately, I just discovered that I have much larger problems with my credit than I knew. It is shameful that I have not checked my credit before now, but I received a collections notice for $164 without much info and immediately ordered a credit report. The $144 is the least of my worries - regarding Comcast charging me for cable equipment I returned - and I will happily / easily pay it to make the entry go away. I don't know if I have that ability for my big problem. I had been operating under the impression that my student loans had all been paid off out of my father's life insurance policy. It appears that only my Wells Fargo loans were paid off, and I still have one Direct federal loan and several Sallie Mae loans totaling over $80,000. They have all been charged off - since 2011, when the other loans were satisfied. I do not understand how this happened - though I have a fuzzy idea so far that makes me ill to think about - but I'm trying to focus on what options I have available to me now. As I understand it, security clearance doesn't require great credit and large debts are fine - as long as you are attempting / have a viable plan for getting it paid. Given the situation, I don't anticipate this being easy. I do not currently have a well paying job - I make less than $1600 per month and can really only afford about $500 per month in payments. The fact that the loans are with Sallie Mae is also unfortunate, because they don't appear to be known for setting up reasonable payment plans for folks who have been in default. I don't yet know if the loans are federally guaranteed or not, though possibly not because they've never garnished my wages. I will obviously be making a lot of phone calls Monday to figure out where I stand. Anyway, what options do I have available to me? What questions do I need to ask? I'll post tomorrow in the light of day with any details I think might be important, as well as the options I'm aware of now. I appreciate any help anyone can offer.

My thread logging my progress and misc questions. http://creditboards.com/forums/index.php?showtopic=521248&hl= I have a question in regards to OC Charge-Offs. I have 2 collection accounts reporting from 2 CC charge-offs. OC reporting $0 and the CA reporting the balance. So from what I gather, OC sold the debt, CA has complete control over the debt and report on the CRAs. I also have Chase CC, Cap1 CC, and Macys CC reporting Charge-Offs and the remaining balances. No other CA reporting. Basic action would be to contact each OC and find out which CA has the debt? or since they still report the debt, can I take care of the debt directly with them? And If they still own the debt, can OCs settle for % of total like most CAs? I know this may be a simple question, but I have just been looking around and don't really see anything that satisfies the questions I have. Or I may just be skipping completely over it. But I know you helpful folks out there don't mind schooling a newbie

I've been on this board a while and having some successes thanks to all of you. I was having another look at my Merrick charge-off, and noticed something I hadn't before. I recently disputed this as obsolete (I'm way early, but thought I'd give it a shot anyway) and it came back verified of course. What I noticed though is that the date updated (or date reported) didn't change. I guess I always assumed this would update when the OC verifies the entry to the CRA. I'm not familiar with whether this is something that should update or not when a dispute occurs. Any clarification? Reports as follows (this info is from MyFico.com): Date Opened: 7/2007 (EQ/TU/EX) Status Date: 11/2012 (EQ/TU) 10/2012 (EX) Last Activity: 12/2007 (EQ), 3/2008 (TU), 6/2008 (EX) Status: Collection/Charge-off/Loss Balance: 1418(EQ) 1419 (TU) - (EX) FWIW my records show a returned check item in 11/2007 and a separate last payment in 11/2007, so I'm going by those dates as DOFD. SOL in my state is 6 years. On 'official' report from TU shows the date to fall off shows as 11/2014. Report directly from EQ shows Date of First Major Delinquency as 4/2011 but also Date of First Delinquency as 12/2007. Basically I'm hoping not to hear anything further from them through November, then once out of SOL I'm gearing up to try any and all tactics to get this one deleted once I'm into the safety zone. I've done extensive reading here and elsewhere online and understand that Merrick is one of the toughest nuts to crack, not in small part to the fact that although they employ collection agents on their behalf, they retain ownership of their accounts.

I figured this would happen. I pulled MPM today and it looks like EQ posted the results of my wife's dispute. They updated the old 2nd mortgage account to a charge-off. Now, it wasn't a shortsale, foreclosure, or DiL, so there's nothing like that in public records or on her reports. It's only reporting for one bureau. This was essentially a settlement because I filed BK on the account and they wouldn't work with us any other way. They accepted the payment, closed the account, and released the lien stating paid in full. I will try to fight this again once I get the official update, though I'm not sure how successful I will be. I noticed a new comment on my report stating charge-off even though it was IIB, so I may have them on a violation there and can possibly use that as leverage. I'm going to request new paper copies today. I may even hire an attorney to add some pressure. Either way, how bad is this for mortgage purposes? I know some charge-offs aren't as big a deal but I'm guessing a mortgage charge-off is a whole different story. Her credit scores are otherwise pretty good - middle score is still a 735. No public record of any kind and this is the only derogatory on her credit ever.

Hello, I had an account that with Capital One that was charged off in May 2012. I ended up settling with them for less than the full balance in November 2012, and my credit reports updated to reflect that. Fast forward to March 2013, when all of a sudden the account was reporting again as a Charge-Off with a balance of $1,397. I disputed with the Credit Agencies and all 3 came back as "updated" with information from the credit furnisher verifying it was accurate! Even though I sent in the reciepts showing the payments to Capital One. About a month ago, I filed a complaint with the CFPB, and now all 3 CA's show the status as "Settled for less than full balance," as they should. And all report a $0 balance. The problem is that when I pull my reports all 3 show like this: 90 days+ Late: 11 times (Mar 2013, Feb 2013, Jan 2013, Dec 2012, Nov 2012, Oct 2012, Sep 2012, Aug 2012, Jul 2012, Jun 2012, May 2012) And according to myFico it says: Your most recent late payment happened 4 Months ago I am sick of Capital One constantly screwing over my credit!!!! This is like the only baddie I have left on my reports and its becoming ridiculous I have to suffer even more than I already have with them. What recourse do I have now? I have already submitted more disputes, but I feel that nothing may come of it.

I'm not really sure what I should be looking for on this account, so I'm hoping for some input. Cliff Notes Version: My old vehicle was financed with Citi and I ran into trouble making payments while I was out of work so I took some deferments, partial payment offers, etc. to prevent lates on the account. Citi did not record the arrangements and the loan was sold to Santander and by the time I found out what was going on it was in repo status. I paid it off and prevented the repo but now I'm thinking of looking for another car, I'm thinking the status on this will make it more difficult (and expensive) to get financed. Not to mention it's probably hurting me when seeking other credit as well since the account is in the negative category. What, if anything, should I address on the payment status as reporting to the CRAs below? Is there a preferable payment status I should try for (since all 3 are different)? Should I try for a deletion altogether? Or just leave it alone? Santander Consumer USA Date opened: EX: 6/1/2006 EQ: 6/1/2006 TU: 6/20/2006 Account type: EX: Auto Loan EQ: Installment TU: Installment Account status: EX: closed EQ: closed TU: closed Payment status: EX: Legally paid in full for less than the full balance EQ: Bad debt & placed for collection & skip TU: Payment after charge-off/collection Comments: EX: Election of remedy – reported by subscriber EQ: Settlement accepted on this account – paid charge off TU: Settled: less than full balance

I have a cc charge-off that was settled for less than the full balance but they are reporting the difference that I did not pay as the current balance. I want this account deleted, not merely marked as paid/settled. How should I proceed? Any advice is appreciated.

I am trying to get rid of an OC charge-off. It is still well within SOL and not in the hands of a CA (I assume since no CA is reporting or calling me about it). I have already tried the following: 1. CRA dispute 2. OC validation 3. PFD offer What should I try now?

I have an account that was a secure loan, that I neglected to pay because I figured it would not hurt me in the long, needless to say its the long run and its hurting me. The account is now 7+ years old and is in a charge-off status only reporting to Experian. Should I pay it and work something out with the original creditor who still has the account of try to get the CRA to remove it since its 7 years old?

Good evening members- I am going through my credit report working to get things paid off so that i can prep myself for purchasing a home within the next 24-36 months. While reviewing my report I came across some accounts that at one point in time were charged-off because of unemployment, but have since been paid completely off and are still showing as either Paid, was charge-off or Payment after charge-off/collection.This account was for an automobile that I had financed through GMAC and furniture purchased from a company called USA Discounters. Then I came across 2 other accounts from Verizon for home services (cable and phone) that I know I never had, but when I called Verizon to dispute the accounts not only would they not give me any information but all they would tell me is that it was my name on the account but when I asked what month the birthday was listed on the account or what the last 4 of the SSN was none of it matched my information not to mention the accounts were opened after I left the state. But Verizon whats me to provide all types of verification on my end. I will pay for what belongs to me but I am not going to shell out almost $800 for accounts that I am sure are not mine. 1. After an account is paid, the status should reflect PAID and nothing else, correct? 2. Is there anything I can do to update that on my credit report, so that it shows neutral? 3. How do I deal with Verizon without sending them all of my personal information to make them prove the accounts belong to me? Are there any credit veterans that can give me some advice on handling the situations or point me in the direction of some credit letters here on creditboards that have been used?

As it turns out, I still have a CC charge-off on my EX. The DOFD is now 6 years and 9 months ago. I had previously disputed it by mail as "no knowledge of this account" (technically correct, because the account number is unfamiliar to me). However, the TL remained. a. Should this go away automatically in 3 months? b. If I dispute it now (online this time), what would be a good "reason": "no knowlege" or "balance incorrect" (balance = $0)