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I am looking for help on what to do for a Bank of America credit card account that was charged off in December 2012. If I remember correctly, I actually paid this account off in full, but I don't remember for sure as I had a number of credit cards in bad states at that time, so one may have actually been charged off.
The status is "Closed. $1,992 written off." The comment says, "Purchased by another lender." I do not recall ever being contacted by a JDB for this account, but it may have been them that I eventually paid off in full. Though I would have thought that would have been much earlier than late 2012 or early 2013. The first month reported for this TL on my credit report is Septemeber 2009, and it is clean until January 2011. The following negative items appear from that date:
1/11 - 30
7/11 - 30
12/11 - 30
3/12 - CLS
4/12 - CLS
5/12 - CLS
6/12 - 30
7/12 - 60
8/12 - 90
9/12 - 120
10/12 - 150
11/12 - CO
12/12 - CO
I do not recall getting any notices in 2012 or thereafter. Anyway, I am guessing I need to send a validation letter. Let me know if that is incorrect. But, if it is correct, can someone point me in the right direction? I would be grateful for a sample letter. I will of course not use said letter, but it would be nice as a starting point to get my bearings and craft a letter to my specific situation. Also, how do I need to send that? Certified mail return service requested?
Any help in getting started with this negative TL is most appreciated. Really, I could use step by step instructions or a link to where to find them.
Hi CB'ers. For a brief back story, my credit journey started 4 months ago when I joined this site and I've enjoyed about 40 point increases on average for all three FICO scores since then. I'm shopping for a house in the spring (fha loan) and I need some advice to maximize my credit scores and clean up CRs in preperation. My 3 ficos were inthe 590-605s when I joined here now they're in the 640-650 range. I removed approx 9 lates/derogs, paid off 3 cc's to reduce my util to about 45% of 12.5k (still plugging away and plan to be below 20% by home loan app time), paid off 13k car loan, and got a big 15k private student loan CO settled in full to avoid being served. I have a goal to be between 660-680 (due to my ongoing credit repair laboring) by mid october and I'm fairly confident I can get there.
What I have remaining is 2 small collections ($75 and $300) I'm in the processes of PFD'ing, have about 2-3 more lates I have evidence to dispute, and here's the kicker......3 more private loan COs all around +/- 2.25k/ea totalling 7k. Based on a settlement I already did with the same OC on the other CO, and letter correspondence with them over the last 6 months, I'm fairly confident I can settle on these last 3 loans for 55-70%. Any FHA borrowing homeowner knows getting an FHA loan with COs over $2k is going to be next to impossible. That said, I'm hoping to take out a personal loan to settle these COs and clean up my reports. I intend to pay off the installment loan over the next 3-4 years (it was a student loan I intended to pay anyway, so I don't mind and it's well within my budget)
I have poked around the boards and read some threads on personal loan lenders. Places like Lending Club and Prosper seem appealing, but I would also be open to debt consolidation or settlement lenders If need be. Would anyone recommend Prosper or LC for my situation?
For anyone still wondering if this card/program still exists, it does.
Long story short, I hit the skids about two years ago, sort of the perfect storm in life, job change, more babies, and less income.
Burned AMEX for about $14K. I have since paid back ~$12K.
Got the letter from AMEX today to regain card membership as long as I pay the remaining balance.
I called to verify and all is well, the gentlemen asked what went bad after so many years of good.
I explained, apologized, and he verified the offer and that the account is still in house.
I will pay the remainder next month and get back in the boat with AMEX and pray for the magic "bad-to-positive" tradeline.
I just wish most credit companies operated this way, to me its win-win for all parties.
Just wanted to share for those mystified by the Optima/Oasis program.
I apologize in advance but I need clarity. I feel like I read the same statements over and over, searched threads over and over and I want to make sure I have this right because this always confuses me. I've accomplished a lot since joining this site, but this is one thing I can't understand. Maybe I'm simply making this harder than what it really is.
I'm trying to figure out when my Capital One CO will fall off my credit report.
Date Opened: 03/2007
Charge off as of Jan 2008
150 days past due as of Dec 2007
120 days past due as of Nov 2007
90 days past due as of Oct 2007
60 days past due as of Sep 2007
30 days past due as of Aug 2007
So, if the clock starts ticking 180 days after DofFD then it started Jan 2008, is this correct? Another thing that confuses me is do I add 7.5 years as stated in the FCRA or do I go by the Statute of Limitations for the state of GA (which is different)?
Thank for your help guys...try not to chew me out too bad