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YOUR "COLLECTION SCORE"

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Can you ask a collector if this information is being used on you or what your score is? I noticed my CU pulled my credit a few days ago so I'm sure they're seeing the defaults across the board and making an assessment of what to do or if they realize I'm about to file for a bankruptcy.

actually I think it's more of a internal model. for example lets say you have 20 accounts in collection. no credit cards no loans etc. you manage to start getting things back on track and get new credit. close or remove some of those collections. it shows as positive activity. so now your "in a better financial position, and probably building for a big purchase." kinda why they tell you do a pre app for a mortgage 6 months prior to avoid any surprises

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Can you ask a collector if this information is being used on you or what your score is? I noticed my CU pulled my credit a few days ago so I'm sure they're seeing the defaults across the board and making an assessment of what to do or if they realize I'm about to file for a bankruptcy.

actually I think it's more of a internal model. for example lets say you have 20 accounts in collection. no credit cards no loans etc. you manage to start getting things back on track and get new credit. close or remove some of those collections. it shows as positive activity. so now your "in a better financial position, and probably building for a big purchase." kinda why they tell you do a pre app for a mortgage 6 months prior to avoid any surprises

 

 

This is why I wonder if it'll do any good to try to settle the CCs individually? Two of my defaulted CCs have made written offers to settle for less than full however, if I take one of those up, will the others see I have made payments and go after me in full or sue thinking I have some money? Realistically, if I due take those offers, then I'm pretty low on funds overall. I owe a large amount with Chase (about $13K) and even more with my CU ($30K) so even if they make offers, I couldn't pay.

 

When I spoke with my CU's collection person I didn't ask if she had a collection score on me, but did mention it in an email reply and that I saw that they pulled my credit report about two weeks after her second attempt to call me. In our recent phone call she then asks "do you have any debts that you're not paying" and I was like "yes, as you can see on my report dated June 20 there are more accounts in defualt what can you do for me?" She stated she can only redo the personal loan to include the CC debt and start a new term but at a higher interest rate it is more than what I'm paying now. She referred me to contact Greenpath for a debt management consultation and then call her back with "how that goes." So I guess that's my next credit journey step.

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Can you ask a collector if this information is being used on you or what your score is? I noticed my CU pulled my credit a few days ago so I'm sure they're seeing the defaults across the board and making an assessment of what to do or if they realize I'm about to file for a bankruptcy.

actually I think it's more of a internal model. for example lets say you have 20 accounts in collection. no credit cards no loans etc. you manage to start getting things back on track and get new credit. close or remove some of those collections. it shows as positive activity. so now your "in a better financial position, and probably building for a big purchase." kinda why they tell you do a pre app for a mortgage 6 months prior to avoid any surprises

 

 

This is why I wonder if it'll do any good to try to settle the CCs individually? Two of my defaulted CCs have made written offers to settle for less than full however, if I take one of those up, will the others see I have made payments and go after me in full or sue thinking I have some money? Realistically, if I due take those offers, then I'm pretty low on funds overall. I owe a large amount with Chase (about $13K) and even more with my CU ($30K) so even if they make offers, I couldn't pay.

 

When I spoke with my CU's collection person I didn't ask if she had a collection score on me, but did mention it in an email reply and that I saw that they pulled my credit report about two weeks after her second attempt to call me. In our recent phone call she then asks "do you have any debts that you're not paying" and I was like "yes, as you can see on my report dated June 20 there are more accounts in defualt what can you do for me?" She stated she can only redo the personal loan to include the CC debt and start a new term but at a higher interest rate it is more than what I'm paying now. She referred me to contact Greenpath for a debt management consultation and then call her back with "how that goes." So I guess that's my next credit journey step.

 

 

The safe thing is to lay low and wait for the Statue of Limitations (SOL) for lawsuits in your state to expire.

 

Prior to that time, increased collection activity (triggered by any of the actions you described) could include a lawsuit.

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Can you ask a collector if this information is being used on you or what your score is? I noticed my CU pulled my credit a few days ago so I'm sure they're seeing the defaults across the board and making an assessment of what to do or if they realize I'm about to file for a bankruptcy.

actually I think it's more of a internal model. for example lets say you have 20 accounts in collection. no credit cards no loans etc. you manage to start getting things back on track and get new credit. close or remove some of those collections. it shows as positive activity. so now your "in a better financial position, and probably building for a big purchase." kinda why they tell you do a pre app for a mortgage 6 months prior to avoid any surprises

This is why I wonder if it'll do any good to try to settle the CCs individually? Two of my defaulted CCs have made written offers to settle for less than full however, if I take one of those up, will the others see I have made payments and go after me in full or sue thinking I have some money? Realistically, if I due take those offers, then I'm pretty low on funds overall. I owe a large amount with Chase (about $13K) and even more with my CU ($30K) so even if they make offers, I couldn't pay.

 

When I spoke with my CU's collection person I didn't ask if she had a collection score on me, but did mention it in an email reply and that I saw that they pulled my credit report about two weeks after her second attempt to call me. In our recent phone call she then asks "do you have any debts that you're not paying" and I was like "yes, as you can see on my report dated June 20 there are more accounts in defualt what can you do for me?" She stated she can only redo the personal loan to include the CC debt and start a new term but at a higher interest rate it is more than what I'm paying now. She referred me to contact Greenpath for a debt management consultation and then call her back with "how that goes." So I guess that's my next credit journey step.

 

The safe thing is to lay low and wait for the Statue of Limitations (SOL) for lawsuits in your state to expire.

 

Prior to that time, increased collection activity (triggered by any of the actions you described) could include a lawsuit.

this precisely, any activity before the end of SOL could be greeted with a summoms especially with the amounts you stated I'm surprised you haven't been sued already

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Can you ask a collector if this information is being used on you or what your score is? I noticed my CU pulled my credit a few days ago so I'm sure they're seeing the defaults across the board and making an assessment of what to do or if they realize I'm about to file for a bankruptcy.

actually I think it's more of a internal model. for example lets say you have 20 accounts in collection. no credit cards no loans etc. you manage to start getting things back on track and get new credit. close or remove some of those collections. it shows as positive activity. so now your "in a better financial position, and probably building for a big purchase." kinda why they tell you do a pre app for a mortgage 6 months prior to avoid any surprises

This is why I wonder if it'll do any good to try to settle the CCs individually? Two of my defaulted CCs have made written offers to settle for less than full however, if I take one of those up, will the others see I have made payments and go after me in full or sue thinking I have some money? Realistically, if I due take those offers, then I'm pretty low on funds overall. I owe a large amount with Chase (about $13K) and even more with my CU ($30K) so even if they make offers, I couldn't pay.

 

When I spoke with my CU's collection person I didn't ask if she had a collection score on me, but did mention it in an email reply and that I saw that they pulled my credit report about two weeks after her second attempt to call me. In our recent phone call she then asks "do you have any debts that you're not paying" and I was like "yes, as you can see on my report dated June 20 there are more accounts in defualt what can you do for me?" She stated she can only redo the personal loan to include the CC debt and start a new term but at a higher interest rate it is more than what I'm paying now. She referred me to contact Greenpath for a debt management consultation and then call her back with "how that goes." So I guess that's my next credit journey step.

 

The safe thing is to lay low and wait for the Statue of Limitations (SOL) for lawsuits in your state to expire.

 

Prior to that time, increased collection activity (triggered by any of the actions you described) could include a lawsuit.

this precisely, any activity before the end of SOL could be greeted with a summoms especially with the amounts you stated I'm surprised you haven't been sued already

 

 

I'm only six months into default on the oldest DOFD. CU got skipped out on starting in May. Case isn't prepared yet, but I've submitted all the begining paperwork to my attorney to prepare a filing. I just can't spend the next 6.5 years trying to dodge this, so I'm biting the bullet.

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