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About thehorseandtherider

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  1. Just to clarify, they're willing to settle for 5% or 10% less than the total balance. Which is only about $100 off of the total of $906. Otherwise I would pay that no questions asked.
  2. So I currently have a couple of collections accounts. An old one that's past the SOL with Midland and another for a smaller amount. I tried to PFD the smaller account, but they said no...anyway. I have about 4 old accounts that have gone delinquent. 3 of them are still with the OC. One in particular was sold to Midland in the last few months. The OC on this debt is Credit One. I think I was dumb and ignored the first dunning letter (my bad) and have received a second letter offering me a few deals...5% and 10% depending on how I would like to pay. I know how sue happy Midland can be so do you have any recommendations on how to go about this? Should I suck it up and pay to avoid possibly being sued? The current balance they're reporting is $906. I've seen threads where they've sued for as little as $700. The SOL on this won't be up for another 3 years. I also recently opened up a loan as well so I'm not expecting them to exactly sit quietly and wait for the SOL to run out. TLDR: Suck it up and pay up or just cross my fingers and hope they forget about me?
  3. The Midland Funding TL is due to fall off this summer so I'm not too worried about that one. The TL for Credit Management has been taken care of so now it's just the Transworld Systems TL that I need to figure out what to do with. Is it too late to dispute this? Should I see if the OC still owns the debt?
  4. Update: Credit Management agreed to accept full payment in order to remove the information from the credit bureaus. Once I sent payment they sent back a letter confirming the payment and that they would indeed request deletion from the bureaus. Just a week later, that account is gone! Woo! So PFD DOES in fact, work. The account for Transworld Systems is another story. They might as well have given me the finger based on the letter they sent back. They will not PFD. I've been reading around though and it seems like if people request validation of debt that they won't bother validating and the accounts disappear. Does anybody have any experience validating after requesting PFD or is it just a lost cause? What would the best plan of action be? Paying it off would obviously look better on my credit, while not necessarily helping my score, I really don't want that petty $118 collection on my CR anymore, ahh! Halp!
  5. I sent out my letters yesterday, crossing my fingers that I can clear these couple of items up since they're such small dollar amounts. As for any other derogatory accounts on my credit, trying to get rid of these couple of collection accounts won't grab the attention of the other higher dollar accounts, will it?
  6. Thanks for the advice @Clydesmom. Is there any particular format or template that you can lead me to for the settlement letters? I'd like to throw those in there before I send them out today or tomorrow. And do I need to provide my signature on them or anything at all? I won't be sending Midland anything, I'm going to just let that one fall off on it's own.
  7. After reading more and more on here, would it be wise to DV before I started the PFD process? Or just skip directly to the PFD? I've seen that some folks have sent DV letters and the collections never verified and they came off of their credit reports. I know mine are only within the last couple of years so I'm not sure if I would be so lucky. I've never received anything from either Credit Management or Transworld.
  8. What would a settlement offer typically look like? Every thing I've read seems to request a letter back on their own letterhead. I'll definitely do a PFD for the $65 and offer 60% on that one. As far as the $118 I should just offer up the full amount and PFD right? Midland can suck it.
  9. Hey guys, I need a little advice on how to best tackle this. I recently got my credit reports and noticed 3 accounts currently in collections: 1. $65 to Credit Management LP (OC Charter Communications) Placed for Collection 8/2013 2. $118 to to Transworld Systems (OC Old utility bill w/city) Placed for Collection 11/2013 3. $1108 to Midland Funding (OC Citibank) Placed for Collection 8/2010 (Says on my CR that it's scheduled to continue on record until August 2015, so I'm thinking about just leaving this one as is.) Basically, I'm thinking about doing a PFD on the first couple and offering 50% of the amount owed since they're such small amounts I'm hoping that the CA's will just accept. I'm also afraid that this will rally up any other old debts I may have and they'll pursue me, am I right to think that or am I safe just sending off a couple of PFD's and getting those (hopefully) off of my credit report. Any advice would be greatly appreciated! Trying to get my credit report (slowly but surely) back into shape.
  10. Received a letter from Winn LG today: Please be advised that we have closed the above-referenced file with our firm. No legal action was filed. Woo!
  11. I did read up on that as in regards to receiving/not receiving that paperwork. I received something about the value of the car, but I didn't see anything about where the auction was taking place. Just a notice of how much I could buy it back for and then later on how much the vehicle was sold for. Then I heard nothing until January of this year. I sent in my DV and they never responded.
  12. So here I am, 4 months later. It's been 4 years, 1 month and 1 day since my last payment on this account. I sent in my DV just before my 30 days were up, certified with a return receipt, kept a copy of my letter, kept a copy of their letter and held on to it tightly for the past 4 months while sitting on the edge of my seat. I haven't received anything from them at all, no other notices, no validation. Is there anything further I need to do? I know being out of the SOL can't prevent them from suing me, but it can prevent them from winning. My last payment was 4/13/2009, so I believe I'm in the clear on this one as I don't know what my actual monthly payment date was on the account.
  13. The letter they sent has the OC listed on it along with the amount/interest and Is that just protocol or is there a slight chance that this could've left the hands of the OC? Although, it still shows it listed with the OC on my CR.
  14. Well if they file a suit before the 30 days (my time to send the DV letter), they're kind of breaking the law aren't they? I'm just wondering what sort of DV they could actually send to me. If they were to send the original contract...that's in regards to the orignal loan, not the refinanced loan, correct? So that wouldn't apply? I'm not ruling out them filing a suit, I'll be prepared for that. I'm just trying to get all my ducks in a row, if you will.
  15. I'm reading as much as I can...and trying not to confuse myself. The attorney I spoke with yesterday put my mind a little more at ease saying that getting sued isn't all that bad, I can still settle if that's the case. What's strange is that I never had any correspondence or calls or anything from the OC, up until this letter arrived. I'm pretty confused about arb, if someone can give me a quick run down of how it works or if it would even be beneficial to me, that'd be pretty great. Another thing, I don't recall actually signing anything. This was a refinanced auto loan, it still says it's an auto loan on my credit report. Is this a loophole or just something I'm trying to make manifest? I don't know if that would turn it into an oral contract or not. Also, found this: Calculating When the Statute of Limitations (SOL) is Over Take the date cause of action begins (date of last payment or demand letter): Add the number of years of the statute of limitations in your state.Example: You last stopped paying on a credit card on Jan 15, 2001. The company sent you a demand letter for the full amount on July 15, 2001. The statute of limitations for credit cards (usually regarded as open accounts) in your state is 6 years. The date at which you are "safe" from having a creditor sue you over this debt is: No Acceleration clause: Jan 15, 2001 + 6 years = January 15, 2007 So I'm seeing two different answers. Ahh!