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About credit911

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  1. Oh yeah. It was a typo. I'm sorry. Thanks. SOL in California is 4 years. Can someone encourage me about seeing the light at the end of the tunnel soon? I really am looking forward to 2013 where the original charge offs will hopefully be gone. Which brings me to another question: If in case the original debt is removed by the credit report, what will happen to the collections agency that bought my debt and is still on my credit report? Should I dispute with the credit bureaus to have those swept out of my credit report since they do not reflect the original debt anymore?
  2. Hi Everyone, I got my first letter from LVNV as well, offering a discounted resolution to a debt, whose last payment was Mid 2007. The SOL in California is 5 years. There is a statement below the letter written in bold which states that should they not get a written response disputing the debt, that it remains valid. I ignored a whole lot of letters from all other debt collectors (3/3) who sold my other debts one after another and so far only 1 sued, which I successfully settled. I never attempted to send any C&D or demand validation. My credit report states that the debts will be approximately removed from my history next year around September at the latest. Any suggestions on how what I should do at this point? I plan on checking the county recorder if there is anything filed against me at the moment.
  3. So regarding the SOL in California, which is 4 years, it started on the date of FIRST delinquency and NOT on the date of delinquency specified by the debt's new owner, correct? Should they threaten to sue, I can support my claim that the debt is already time-barred 4 years after the date it was first reported to be delinquent, correct?
  4. Hi everyone, I was looking at my credit report from Equifax and saw different dates about its delinquency. It has its first delinquency in 9/2006, reported by the Original Creditor. It was then sold to a Collections Agency and has the following dates: Date Open: 12/2008 Date Major Delinquency First Reported: 1/2009 Date of First Delinquency: 9/2006 Was the "Date Open" their way of re-aging the debt? I live in California by the way.
  5. credit911


    From my experience, a judgment was entered against me in 2010 and i received notice of levy and involuntary property lien recently in 2012. I jsut settled with them and will finish by June. That should give you some timeline. I was also called by DRS recently and I live in Cali. The rest of my debt is time-barred (SOL has passed since 2010) and while they can collect it anyway they want, they can no longer sue.
  6. Oh, it will be in writing. Thanks for patiently responding!
  7. I see. If they were recording it on their end, can I also record it without them knowing since they themselves are recording it already? I have been recording since we started discussing about the settlement offer for my records purposes.
  8. Yea. I already settled with them so let's see until the last payment is cleared. By the way, what do you think about my SOL question? Does verbal acknowledgement of debt re-ages the SOL or only written contracts in California and payments made re-ages SOL? There was not a clear consensus in this thread about it or perhaps I missed it since I was a new member.
  9. When charge-off accounts fall out of one's credit report after 7 years, will each of the original creditors send 1099-C's?
  10. Thank you. I just settled with the judgment creditor so let's see what would happen.
  11. I need help in outlining the terms and conditions for a settlement agreement with a judgment creditor. A lot of people have done this on their own and some were successful in settling the debt and having all judgments vacated. I guess I just want to make really sure they do not go after me for the balance later on or sell that balance to another debt collector.
  12. If I can word it directly on the terms and conditions of the settlement agreement, that the balance of the settled amount may not be sold upon completion of settlement payment, would that be legally binding enough in addition to the discharge letter they will send later on and have both recorded in the local county clerk?
  13. I hope I can find equal success with the judgment creditor representing the collection agency. By the way, when I called the judgment creditor, they told me that since they are linked to the court system, once the settlement is completed, it will automatically drop all the judgments and lien against me. What they will give me in the end is a letter that the account is already settled and closed. Did you have that letter recorded in your local county clerk?