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Found 12 results

  1. In my second year of graduate school, I let seven credit cards charge off. The charge off dates are all between April and June 2013. I had no income at the time other than student loans and, with everything on my plate, I let them go without much thought to the consequences. I'm now done with school and will finally have an income for the first time in three years starting in mid-September. All of my loans are in good standing as well as nine other revolving accounts with low utilizations and low limits (six of those opened since May 2014). I would appreciate advice on how to approach these charged off accounts. Two of them have since been sold to JDB's, but only one has appeared on my credit report with a collection agency (HSBC account sold to The Bureaus/Stoneleigh Recovery). The other five are still reporting balances with the OCs. I have not spoken with any of the original creditors or collection agencies. My accounts are as follows: B of A: ~ $2500 C/O 6/2013 Collection Agency: Client Services, Inc. B of A: ~ $2500 C/O 6/2013 Collection Agency: Client Services, Inc. Chase: ~$3500 C/O 6/2013 Collection Agency: United Collection Bureau Citicards: ~$2600 C/O 7/2013 Collection Agency: Global Credit Collection Citicards: ~$3400 C/O 6/2013 Collection Agency: Northland Group HSBC: ~$3000 (original), now $3100 C/O 6/2013 HSBC Reporting $0 balance Collection agency: Stoneleigh Recovery Associates Current Creditor: The Bureaus (reporting to CRAs) since 6/2013 Wells Fargo - $1600 C/O 6/2013 Reporting $0 balance Collection Agency: Portfolio Recovery Associates Due to the ethical requirements of my profession, I cannot leave these accounts unpaid and on my credit reports without settling them or, preferably, having them removed entirely. How would you recommend I proceed with these? Other info: TU and Experian Ficos are 615 and 610, respectively. Thanks in advance for any advice!
  2. In 12/2011, I received an auto loan from Santander. Long story short, the dealership falsified documents to get me the loan. After speaking with a friend, I decided to get another car and got approved for another auto loan with Honda Financial with a lower payment, which I have made all my payments on time. I later received claim documents from my insurance company at the time about an accident on 5/22/2013, that I know never took place. I called my insurance company and they told me Santander filed the claim. I called Santander, and found out Santander for some reason, called my insurance company and filed a "loan servicer claim" on 5/22/2013 for damages on the car. The catch is... the car was still in my possession until 6/2/2013, which was a week after I called to surrender the car. I was so confused and they couldn't give me an answer as to why they did it, and I kept getting the run around from Santander and my insurance company. Just a big hot diddly mess. I want to dispute it because it is the biggest factor affecting my reports. They are showing in the report as a default on auto loan and not a voluntary surrender or repossession. The account was charged-off 6/2013. The TL is still fresh, but I'm think with all the inconsistencies and things that have happened while I had this car, that I might somehow have a case. I live in Florida, and if I can recall the SOL is 5 years for written contracts. Should I start a dispute, do a PFD or just hire a lawyer to help solve this? I'm not looking for any settlement from this issue. I just want it off my credit reports.
  3. Hello Everyone, I hope someone can help me, Im in desperate need. I have a collection/charge off on my credit report that I have disputed a few times over the years but it seems to always update with the incorrect information. I brought a car with Drive Financial in January of 2005, I guess it transfered over to Santander. The car was reposessed in 2007 (not sure of the month) and charged off in March of 2008. This is a lender credit report so maybe the dates will actually show correct on a standard credit report. The Reported date is incorrect and has been incorrect for many years. Are they in violation? Should I DV Santander?? Also, ACCL FIN SOL brought the Santander account (Im assuming) and those dates are also incorrect. Should I DV ACCL FIN SOL?? This is the 2nd collection agency that brought this account, the other agency is no longer showing on my report. What is my best plan of action? I am trying to buy a house, but with this on my credit my FICO is not high enough. I hope someone can chime in on my situation. THANKS!! Creditor RPTD Last Acct Opnd Limit Balance Owning Amount Past Due ACCL FIN SOL 14-May 10/13 9384 9384 9384 Collection 12 Santander Auto Loan Santander Consumer 09/12 09/12 01/05 16225 0 0
  4. Help with a Capital One charge off and United Recovery Systems My wife has a charge off with Capital one for the amount of 414.55 on a CL of 300. This is killing her utilization! We have tried to pay Capital One directly but they refuse and said that we had to pay United Recovery Systems. URS is not reporting on her reports and I do not want them to report. I want to pay this thing but I don’t want it to show up on her reports. They have been calling lately on our landline but we never use the landline or even answer the damn thing. I know that you should always DV a CA and I understand that, but I know for a fact that she owes the crap and I am not trying to skip paying it. I just don’t want the CA to show up on her reports. What are you guys opinion on the best course of action? DV or just call them up and pay the thing for a letter in writing that they will not report to the bureaus? Do you think there is any chance of getting the CA to get the OC to delete the tradeline? This is a pipedream that I would jump for joy if it happened. Any and all advice welcomed!
  5. Hello all- I am starting my husband and I's credit repair journey as we prepare to purchase our first home in the near future. One of the biggest mistakes we made in 2008 was purchase a timeshare. Back then we did not budget correctly and really could not afford it, I don't even know how we got approved. Anyways, fast forward to today it is only showing up on our Experian credit report and it is in a Charged Off status showing we owe about $13K. I am going to attempt to fight this through our journey however, for you experienced brokers out there how big of an issue will this be if I can't get it removed? If I am able to increase our scores to qualify for an FHA loan will the underwriter settle for a letter explaining what happened or will they want us to pay it in full? I am in Texas btw and we purchased the timeshare in Florida. (not sure if you need that information) I would just like to get an idea of whether or not we will be turned down everywhere if I can't get this removed. Any feedback, experience or advice is greatly appreciated. Thank you!
  6. DCPenal

    Chargeoffs

    Would appreciate some assistance with a question or two that I do not know the answer to. Do chargeoff(s) need to be paid if they are reporting a zero (0) balance and/or out of SOL and/or sold to JDB prior to closing? This is not a question about a collection, specifically about a chargeoff(s). Lets say the range is between $1-10K, non-medical, and for unsecured credit card debt specifically. Also does this chargeoff(s) contribute to the DTI calculation? TIA.
  7. Hello from a newbie, I was unemployed last year for almost half a year, and let a Kay Jeweler's account go delinquent after November. First off, I take full responsibility for this, and it should never have gotten this far. However, it was a $2500 debt that, with interest, is higher. Today, I received a credit monitoring alert that it went into chargeoff status. I have not received any communication from them (and don't expect any until the mid-end of the week?), but... What are the odds of a settlement offer from them? I want to pay it, but need to make payments. At this point, this is my only delinquent account, so I guess I'll take the credit hit as a tough life lesson...but my concern is a garnishment/court action - that is what I DON'T want, obviously. Thoughts? Thanks
  8. I have an account on my Experian report with a chargeoff status, however it lists the chargeoff status from July 2009 - August 2010. Then, there is an "ND" status from September 2010 to April 2012 and the chargeoff status comes back in May 2012. Is this a way for them to play with the DOLA or DOFD? This account is well past the SOL, so I am wondering if this is a reason for dispute? Can anybody provide some clarity? Thanks!
  9. Hello All, I have a question for the infinite knowledge of the boards, and hope I can get some clarity on this. I have three relatively old accounts that were charged off late 2007 / early 2008. The question in, should I attempt to contact them now and offer a pay for delete in order to remove them from my report before buying a house? If so, what is a realistic percentage I should target for this settlement? The accounts are as follows: Chase - SOL ends on 12/2013 PNC Bank - SOL ends on 02/2014 Capital One - SOL ends on 02/2014 I live in Ohio where the SOL is 6 year (from what I am able to gather). I know these things are going to fall off my report in about 18 months, but I would like to get them taken care of ASAP as I am buying a house in the next six months. Any advice is greatly appreciated! If you need any other information, let me know.
  10. Hello, I'm hoping you fine folks can help me in my attempt to repair my sisters credit. I've read through the Beginner's section but I'm still confused on where to start. My sister is 27 and her credit report includes a charged off credit card and 4 misc debts in collections (rent, cable, phone, and 1 i'm forgetting). All told the debts are around $2500. As a family we are trying to teach her and her husband about the budgetting/finance side of things that got them into this situation. What I'm looking for here is help fixing her credit. Some other facts: - The debts are within the SOL - She has been contacted by some of the CAs for her debts - She has moved a fair amount so there are 4-5 old addresses on her report. I believe her plan of attack should be: Get old addresses removed from report (she's moved 3-4 times and may have her maiden name on her report as well). Have the CAs go through validation/verification process (not sure how successful this will be if the CAs are already in contact with her). Questions: Anything I'm missing? Should she cease contact with the CAs? She's not currently paying anything off. Thanks!
  11. I know my avatar says that I'm a new member here, I have been a member for over 6 years but there was a long period that I didn't access my account and I couldn't recover the login. That said I'm having a problem with a baddie from Car Financial Services. They are reporting that I was charged off but what really happened was that they forgave the debt! I have paperwork from the IRS where they reported the forgivness of the outstanding amout and the IRS made me pay additional taxes because this load forgivness is considered INCOME!! I have already disputed the entry but it was verified in 2 days (done online) can someone help me with the next step? Should I just dig out all me tax paperwork and redispute the entry with additional information? Keith
  12. I have a charge off from a repossession back in 2006 with a co- signer. It works have dropped off this year but the co- signer started paying on it. What should I do to get it of of my credit? my credit score is stuck and I feel if I pay in full for delete my scores will jump drastically. Any advice is helpful. Thanks in Advance

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