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Need advice on : $ 75 Private parking-ticket => Collection Agency Account ==> Dragging my score by hundred pointsBy ajeet
== One and half year ago, June 2012 ==
About one and half year ago, I had gone to an apartment complext, to discuss with them about lease transfer from my friend who was staying there. Obviously I had parked in the "Future Resident" parkin spot.
By the time I buzz my friends door and call him down, and enter the building leasing-office, I am told, that a parking-notice ticket was served. (I honestly do not remember about that ticket. Don't remember seeing it, or anything about it.)
== January 2013 ==
I have started monitoring my credit score using myFico thing and it has been showing excellent score.
Dec. 2014 my score stood at 800
== 15 Dec 2014 ==
I was talking with my bank about my mortgage, where they mention me about the "Collection account" in my credit report and my actual experian score being 668.
Upon further enquiry, I found that I have a "collection account" in the amount of $75. from
== Collection account ==
ACS FINANCIAL LLC
PO BOX 55849
SEATTLE, WA 98155
PLATINUM PARKING LLC
Address Identification Number:
Status: Collection account. $72 past due as of
Status Details: This account is scheduled to continue on
record until Apr 2020.
Date of Status:
Credit Limit/Original Amount:
$72 as of 01/2014
This single item is dragging my score down by (probably) 100 points. I have tried to contact the original Creditor and CA people over phone asking if there is any way of removing this collection account against my name, and I was not successfull.
I am thinking of following three options (in order of likelyhood)
1. Contact Lexington-Law and with their help ask the original creditors to let go of the original credit, with incentives.
2. Pay of the Collection-Agency full amount
( Q : Can any one tell how much it will impact my credit score ? )
Can someone with experience with small amount (<$100) collection-account please help me out with what is the correct course I should take ?
Also I did not understand why my "FICO" score from equifax is "800" but my bank-person is saying experian score is "668" ?
Can they have such big differences in them ?
Hello and Thanks in advance for your help. Well, the roaches have come out and I have recieved two different letters from medical collection agencies after a mortgage pull. I honestly do not know if they are valid debts. They are not currently reporting on any of my credit reports, however, I am positive that they will of I don't respond to their letters. One of the letters as a service date of 2/10/2011 for a balance Due of $900.00 the collection agency name is xxxxxxxxxxxxxxxxxxxxxx The other letter is From xxxxxxxxxxxxxxxxx for $96.30 it does not have a service date on it. Should I send the Medical Validation Letter to the CAs from WhyChats page? I want to make sure I handle this properly in the right steps. Thanks again for your help.
Hi ICANHASMUNY, hodap2001 and LynnInMNall,
I was recommended by Student Loan board to post my thread here.
I took out a student loan around $100K since 2009 from the CFI Foundation. I made monthly payment on time until November 2012, when we moved to a new address and didn't receive the bill on time.
Details of the loan:
Loan Name: North Carolina's EXTRA education loan
OC: College Foundation Inc. (comment on my CR: Claim Filed with Government)
NCSEAA purchased the loan from CFI and now assigned it to a CA.
Guarantor: NCSEAA .
The promissory note I signed can be found at http://cfnc.org/stat...pdf/EXTRArr.pdf
Some articles online mentioned that the loan can be a private loan or state loan (similar to private?).
I didn't pay much attention to the issue as I was not aware and monthly payment of $1000 was not an issue to us. Also I was busy with our new born baby, job change and relocation. Recently, we're looking at buying a house then I came to realize the student loan is in default and damaged my credit score pretty badly.
Fortunately, I stumble upon this site and found a lot of valuable information. I called the original creditor CFI and NCSEAA then the CA. The CA told me that it was a state loan so it doesn't qualify a rehab or settlement. I can only set up a repayment plan or initiate a settlement on my own.
If working on a repayment plan, I need to provide some personal info over phone, including SSN, Employer Name and contact info, and Monthly salary and living expense or any mortgage I'm taking, and current home address.
If working on a settlement, I need to email or mail them to propose a settlement offer.
My questions are as below:
1. Did I expose to the CA too much of myself?
I confirmed last 4 digits of my SSN, provided a mailing address (mailbox) and acknowledged it's my loan.
2. How should I continue communicating with the CA? via email as they suggested?or phone call? or certified mail?
3. To minimize the negative impact on my credit score, should I choose to settle or work on a repayment? If not much difference, should I settle to permanently eliminate the issue.
4. If I want to settle, the CA asked me to propose a settlement plan in writing, is it OK for me to do so? If OK, do we have a template to use? My plan is to propose 40% of the total balance to settle and then they may negotiate it up to certain percentage we both can accept. The lady I talked to said it's very unlikely for the OC to accept 40% settlement but I would like to give a try. I believe the lady at CA just wants to see how much money they can get out of me now.
5. For the settlement, I'm planning to have the CA send me a settlement letter to delete the negative TL on my CR and a certified copy of your master promissory note with a paid-in-full stamp on the note with an authorized signature.
Is it possible? Who should be the authorized signer on the settlement letter? Someone from OC?
If they don't agree to provide any settlement letter, what should I do?
6. If working on a repayment plan, CA asked for 20% down payment. I said NO, but it seems that I don't have any leverage with them but accept whatever offer they throw on the table.
Any other suggestion? Is it still possible to receive a mortgage from a bank by the end of this year 2015? My current score is 673.
Thank you very much!!
I've been following CB for a few months now and have made some major cleanups to all my reports thanks to the awesome advice here. Now I have just two baddies in each report, which I'd like to tackle somehow. One is a series of ten 30-day-lates in 2012 and 2013 on my American Honda Finance auto loan, and I've read many people say goodwill letters won't work with them, but here's the situation I feel sure I can clean up somehow, with your advice:
I left an apartment in late 2009 to move to another complex from the same owners and ended up owing them $1443 for carpet replacement and leaving the lease early. In 2010, they turned it over to a local collection agency here in Vegas called Sentry Recovery & Collections, whom I've heard are real a-holes. They've tacked on fees bringing my total up to $1627 but have not tried to contact me for quite a while (March 2014 was the last time they updated my credit reports). I'm not completely convinced I should wake a sleeping dragon, but I'd love to see this collection disappear.
A — Try to PFD with the CA for less than I owe?
B — Try to pay the apartment complex either in full or a lesser amount *if* they'll clear up my record in whatever tenant tracking system they use AND ask the CA to delete the collection from my reports?
C — Something else?
Thanks for your help!
I'm a newbie who seems to have slipped through the cracks. I had 2 credit cards with HSBC Nevada that were closed a number of years ago and reported accurately. I recently checked my credit reports (1st time in years) to find charge offs on two from HSBC and and additional 2 collection companies on all three reports. On the report that didn't have OC as HSBC, showed Cap 1.
I disputed all online before reading the boards to find out it was not the best decision. Also called Cap 1 because I have a CC with them and was confused. Cap 1 informed me that they now hold the other company's cards and could only find my current card. They told me to dispute. I then received a letter from them for each card stating:
"We have received your CB dispute regarding card services account. We have completed our investigation and the above-referenced account has been purged from our system. In addition, we have instructed all relevant major consumer reporting agencies to delete ANY reference of this account from your credit reports. Please allow up to 60 days for the info to be reflected on your reports. We apologize for any inconvenience."
My problem is that before I called them, 2 CRA's completed the investigation in 3 days and verified the collection accounts (Midland and Calvary). EXP noted the dispute as meeting requirements but never even acknowledged Calvary either way. I think they forgot to investigate it.
Also, one CA lists HSBC as the OC and the other doesn't list an OC at all. I don't know what I should do next. Any answers?