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MissTChatGA

Collections Account with Citibank now ARS in GA

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Hello Credit Forum,

I have decided to tackle my credit and this is my first post. Hope I follow all rules so if I miss anything please forgive me.

 

I had an old account/credit card with Citibank that they closed back in Dec 2014. I have been contact several times from different agencies to pay. Most recently ARS National Services contacted me via mail and in the letter is offering to settle at 25% of balance at $1,668.22 from a $6,672.85 to resolve the account. This is the best offer I have seen so I am thinking about paying it to move forward. Credit Karma is showing that the CA is reporting this and is showing as a missed payment on my credit report (Transunion).

 

I can afford the one time payment but want to make sure they removed the derogatory remarks on my credit. Should I even pay (is it past the statue of limitation)? If so, what is the best way I can guarantee this can no longer affect my credit negatively? What do I need to get in writing from the CA? How do I go about handling this account so it no longer affects my credit and reports negatively?   Thanks in advance for everyone's help!

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welcome to CB!

 

please don't pay and collection account until you read a lot more: https://creditboards.com/forums/index.php?/forum/43-beginner39s-credit-information/

 

paying a collection may not increase your FICO scores.

 

research "pay for delete" (PFD) as that is about the only reason to ever pay an out of SOL debt.

 

have you gotten paper copies of all four major consumer credit reports? if not, get them and create a systematic plan... don't just start paying random debts!

 

be sure to ask questions! measure twice, cut once :)

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13 hours ago, MissTChatGA said:

Hello Credit Forum,

I have decided to tackle my credit and this is my first post. Hope I follow all rules so if I miss anything please forgive me.

 

I had an old account/credit card with Citibank that they closed back in Dec 2014. I have been contact several times from different agencies to pay. Most recently ARS National Services contacted me via mail and in the letter is offering to settle at 25% of balance at $1,668.22 from a $6,672.85 to resolve the account. This is the best offer I have seen so I am thinking about paying it to move forward. Credit Karma is showing that the CA is reporting this and is showing as a missed payment on my credit report (Transunion).

 

I can afford the one time payment but want to make sure they removed the derogatory remarks on my credit. Should I even pay (is it past the statue of limitation)? If so, what is the best way I can guarantee this can no longer affect my credit negatively? What do I need to get in writing from the CA? How do I go about handling this account so it no longer affects my credit and reports negatively?   Thanks in advance for everyone's help!

Wait, A >$6,000 balance went to collections and TU is just showing it as a "missed payment?"

 

Have you seen your other two reports?

 

Of paramount importance is determining whether Citibank sold the debt to a JDB (charge off) or whether they're showing the account as sent to collections.  If it's in collections then you'll want to work with Citibank instead of a CA.

 

Also, CreditKarma schmeditkarma.

 

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On 6/1/2019 at 5:44 AM, Sidewinder said:

Wait, A >$6,000 balance went to collections and TU is just showing it as a "missed payment?"

 

Have you seen your other two reports?

 

Of paramount importance is determining whether Citibank sold the debt to a JDB (charge off) or whether they're showing the account as sent to collections.  If it's in collections then you'll want to work with Citibank instead of a CA.

 

Also, CreditKarma schmeditkarma.

 

Thank you Sidewinder for your advice. Let me know what you think I can do so this doesn't effect my credit negatively. We are trying to buy a house (2nd house, currently own one) in the next few moths and I am trying to get my score up. Below is a snap shot of all 3 CB's:

 

 

Credit Reports:

 
Equifax
 
CITIBANK (CLOSED)
Account Status: Charge Off
Payment History: Dec 2015 CO (charge Off)
Date of Last Payment: 12/01/2014
Date of First Delinquency ; 12/1/2014
Delinquency first reported:11/01/2016
 
 
Experian
 
CITICARDS/ CITIBANK
Account charged off. $6,672 written off. $5,369 past due as of May 2019.
Payment History:  30,60,90, 150 days past due , CLS and CO
June 2012-Jan 2015 CLOSED
FEB 2015- 30 days past due
MAR 2015- 60 days past due
APR 2015- 90 days past due
MAY 2015-  120 days past due
JUN 2015- 150 days past dues
JUL 2015-  MAY 2019-  CHARGE OFF
Historical Info:
First Reported:  6/2012
Comment: Account closed at Consumer’s request
 
Transunion
 
Adverse Accounts
 
Citicards CBNA
Date Updated: 5/24/19
Pay Status: Charge Off
Date Closed: 12/26/2009
Max Delinquency of 120 days in 5/2015 for $569 and in 6/2015 $669
Estimated month and year this will be removed 11/2021
Pay History: same as Experian
 
 
 
 
 

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On 6/1/2019 at 7:25 AM, legaleagle2012 said:

What state? Wild guess is Georgia. If so, SOL is six years. What is the date of the last payment?

Thanks for your help and reply legaleagke2012. Here is a snap shot:

 

 

Credit Reports:

 
Equifax
 
CITIBANK (CLOSED)
Account Status: Charge Off
Payment History: Dec 2015 CO (charge Off)
Date of Last Payment: 12/01/2014
Date of First Delinquency ; 12/1/2014
Delinquency first reported:11/01/2016
 
 
Experian
 
CITICARDS/ CITIBANK
Account charged off. $6,672 written off. $5,369 past due as of May 2019.
Payment History:  30,60,90, 150 days past due , CLS and CO
June 2012-Jan 2015 CLOSED
FEB 2015- 30 days past due
MAR 2015- 60 days past due
APR 2015- 90 days past due
MAY 2015-  120 days past due
JUN 2015- 150 days past dues
JUL 2015-  MAY 2019-  CHARGE OFF
Historical Info:
First Reported:  6/2012
Comment: Account closed at Consumer’s request
 
Transunion
 
Adverse Accounts
 
Citicards CBNA
Date Updated: 5/24/19
Pay Status: Charge Off
Date Closed: 12/26/2009
Max Delinquency of 120 days in 5/2015 for $569 and in 6/2015 $669
Estimated month and year this will be removed 11/2021
Pay History: same as Experian
 
 
 
 
 

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On 5/31/2019 at 5:17 PM, hegemony said:

welcome to CB!

 

please don't pay and collection account until you read a lot more: https://creditboards.com/forums/index.php?/forum/43-beginner39s-credit-information/

 

paying a collection may not increase your FICO scores.

 

research "pay for delete" (PFD) as that is about the only reason to ever pay an out of SOL debt.

 

have you gotten paper copies of all four major consumer credit reports? if not, get them and create a systematic plan... don't just start paying random debts!

 

be sure to ask questions! measure twice, cut once :)

Thank you for the warm welcome! So much to learn and I' excited for success and to pay it forward. I will read thru the links you sent me, thank you!

 

I did just get 3 credit reports from annualcreditreport dotcom and download them to my computer. Which is the 4th bureau?  What is this systematic plan you are referring to? I'd love to follow a system. I only have 3 accounts that are showing negative on my CR- Citibank (mentioned above), Mortgage (lost job and fell behind 30 days late Jan-Dec 2015 and Jan-May 2016)  but was able to get caught up  and since paid on time. and Nordstrom (2 late payments). My score is 650 which is not good and would love to get up in mid 700's as fast as possible. 

 

All help welcome! TIA for any advice you have to offer.

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The one for Transunion looks like a different account, it has  entirely different dates. If it was closed in 2009 it shouldn't even be reporting, unless you kept paying on it. The other two have different charge off dates, too.

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3 hours ago, legaleagle2012 said:

The one for Transunion looks like a different account, it has  entirely different dates. If it was closed in 2009 it shouldn't even be reporting, unless you kept paying on it. The other two have different charge off dates, too.

Not always an accurate statement- plenty of people close out accounts but still have balances they are paying.  As such, there is still ongoing activity.  An account closed with a balance will not go to a third-party in most instances unless there is a default event.  From the manner of reporting in these accounts, it appears OP closed the account but kept up with payments for a while. 

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I was "assuming" this is supposed to be the same account reported by all three CAs, but the dates are so far off I suspect it may be two accounts. I don't think payments change the DOFD or the 7 year period, just the SOL in some states.

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3 hours ago, legaleagle2012 said:

I was "assuming" this is supposed to be the same account reported by all three CAs, but the dates are so far off I suspect it may be two accounts. I don't think payments change the DOFD or the 7 year period, just the SOL in some states.

But you overlook that not all closed accounts are closed due to delinquency, and THAT was my point.  There are indeed people who close accounts with a balance and continue to make payments.  The account is not a negative account nor a collection issue...it just screws them on utilization percentages and ratios of cards with a balance to overall number of accounts...right up to the point at which the account might go delinquent.  And if that occurs, it is ONLY at that time that a DOFMD will exist...

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Thank you all. I think I jumped the gun in posting (as well as calling the CA :( ). Been reading up on quite a few threads (should of done that first).  I sent out a DVL and received a response back from the CA.  The CA sent me print out from the OC's so looks like they have original documents. What else do I need to see from them as proof?

 

I agree that it is weird that the CB dates are all way off and reporting differently. Should I dispute with the CB's or deal strictly with the CA?
 

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On 6/5/2019 at 9:57 AM, centex said:

But you overlook that not all closed accounts are closed due to delinquency, and THAT was my point.  There are indeed people who close accounts with a balance and continue to make payments.  The account is not a negative account nor a collection issue...it just screws them on utilization percentages and ratios of cards with a balance to overall number of accounts...right up to the point at which the account might go delinquent.  And if that occurs, it is ONLY at that time that a DOFMD will exist...

This is indeed one account that is being reported differently by each 3 CB's. Honestly it's been so long I don't even know which one has the correct data. Advice on what I should do next?

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