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Found 18 results

  1. Hello, I must thank everyone who contributes here so much. I started cleaning up my credit about two months ago. I had five collections and two charge offs on my EQ. I depended on the advise given here and sent some verification letters and also disputed with the CRAs and followed up with a MOV after the disputes. Two CA's deleted right away and sent letters saying they are no longer collecting on my account. After the MOV, EQ deleted all my other three remaining collections accounts. As of today, I have only one charge off from a credit union. My score has jumped 35 points, from fair to good credit on EQ. Thank You ALL SO MUCH! Transunion and Experian have been more difficult but I just got a $5200 collection from a former apartment also deleted from both after disputing and sending them documents. Now I know its only a matter of time before I will get back to good and then excellent credit. This forum works wonders. Thanks!
  2. I had a charge off from a credit union that went into collections. After the transfer of the debt, the credit union still kept reporting the balance owed. They actually farmed it out to two CAs who where both reporting the balance on my credit at the same time. The CU didn't report the balance as zero. So I kind of had a "triple jeopardy" situation. After I called the credit union they said they had taken the account from the 1st CA back in 2013 and sent it to the 2nd CA. They also took it from the 2nd CA in 2015 and brought it back in-house. But both CAs kept reporting I owed the same amount up until September 2016. I know the CU should have started reporting on my account with a zero balance after they transferred the account for collections. The CAs should have also stopped reporting on the account when they stopped collecting on it. My questions are: 1) Can I sue the CU for FDCPA violations (inaccurate reporting) for reporting a balance on my CR when they transferred my account to the CA? (My CR from 2014 and 2016 showed all three) 2) Can I sue the CAs for FDCPA violations for continuing to report on my CR for more than 1year after they let go of my account? Thanks for the input.
  3. I've been going back & forth with Wells Fargo and we are at a 35% settlement offer, has anyone experienced where if I offered to pay 100% of the debt that WFNNB would agree to a deletion of the entry similar to what I've heard has occurred with traditional collection agencies?
  4. Hello. I have several charge offs in my credit report that I would like to resolve. According to what I read: Charge-Offs. Try disputing the information within the listing, like the date the account was opened, the high balance, the amount owed, etc. If any of the information is incorrect, you have a good chance of getting the whole thing deleted off of your report. Can someone please explain further what "disputing the information within the listing means" ??? Who do I need to dispute the information with? The collection agency or the credit bureau directly? Any other suggestions for increasing credit score with several charge-off on credit report? Thanks, Val
  5. Hello everyone, I have a multitude of questions that I need advice for. A couple of years back, around 2010 I had a couple of student loans that went into chargoff, I was able to have 2 of them in rehabilitation and are no longer affecting my credit. One of them however, has charged off, it is pretty high around 17000 dollars, however I have been paying them monthly over the course of 5 or 6 years. What I do not understand is why, even though I am making payments every month, they report it to the credit agencies as a charge off. I've offered them money to just take it off my credit score, I've offered to settle, I've offered to consolidate the loan, I've offered them to settle the loan by taking another loan out. Their reasoning for this is that since it is charged off that they will keep notifying the credit agencies of that even though I am making payments. First Question: 1) Do these people have to report it as charged off even though I have been making payments for 6 years. It seems like a bully tactic to me in order to pay it in full. I don't see why they can't put me into some sort of rehabilitation like my other loans have to wipe it off my credit history 2) why is it that they cannot just not report anything, is this normal behavior? When speaking to other agencies it seems like a charge off is usually only reported when payments are no longer being made. 3) They have asked me to settle for 7000 however I did not have the money at the time. I was thinking of taking out a personal loan in order to settle this issue just to clean it out. Will this effect my credit score in any way? 4) If they do agree to settle, if I get the money, would they be able to remove the bad credit history from my credit report? I've heard different ways to go about doing this, one would be to deal with the issue and once they have the money dispute it with the credit agencies and they are likely to contact the collector, and USUALLY will not report back. Is this at all true, is this the way it works? What are my chances in succeeding with this? Is there any way to show that I have made good due on my payments since it was charged off, it just seems so odd to me that I get punished every month for actually making payments to these people? 5) if so to question 4, who do I contact to dispute something negative on my credit report, do I have to call each one individually? 6) What are the best ways to have them remove it from my credit score before settling, I would think there are certain things that could be done, considering I have leverage in finally paying them their money? 7) If I would want to get another loan in order to settle, where is the best place to do that? I have been trying to take advantage of some real good credit card rewards deals, and none of them will give me the card because of this. 8) Are there any ways of talking to these credit card agencies to approve these credit cards, I have been making payments for many years and haven't been a delinquent since. What are some strategies in order to do this 9) I am looking to buy a house soon. I've spoken to my loan officer and he said because of my high credit score I shouldn't have a problem purchasing a house on a loan. Is this true? it seems odd to me that a I wouldn't get a credit card, but would get a loan for a house. 10) My credit score from Trans Union showed up as 810, so what I don't get is why this is so high if I'm considered a delinquent? Does my credit score seem too high? Maybe I got it from a lying website or something? I still have all info from it? Should I be getting my other scores from experian and equifax, will doing so affect my credit score? I know this is a lot but it seems like theres no where else I can find answers to this. Any help would be greatly appreciated
  6. So I have checked all 3 CRAs and I'm finding discrepancies. For example, a CareCredit loan for $1,212 is reported as Charged off-Derogatory on one CR and Charge off-Transfered/Sold and Closed 03/13 on another. Can I dispute this because they are different and maybe get it removed? Also, I've never been contacted by CareCredit or a CA trying to collect this debt and no one has reported it since CareCredit closed the account. I want to pay it and get the CO removed, but my CR says they sold it and there is no reporting of who owns the debt so I don't really know where to go from here. Another is a Wells Fargo education loan for $6,515 that became CO in 2013. This was a loan I got in August, 2007 for school, originally through Wachovia. This loan is being reported twice. Once as opened on 08/27/07 and closed 12/05/09 "Due to Transfer". Then again as opened in 09/17/07 and "CO-Derogatory" 03/29/13. The only reason I can think of why this would be is Wells Fargo bought Wachovia during that time so they transferred it to their system or something, but then I don't get the open dates being different. Then on another report it shows the 2007-2013 loan as "Open-Collection/Charge off. They are still reporting every month as a CO. They are also reporting Closed to one CR and Open on the other two. I haven't had the money to pay them and have been hearing mixed reviews on getting them to PFD. I haven't thought about sending a DV either because I'm sure they have everything to back up the debt being mine. I want to report all of these discrepancies to see if I can get the CRAs to just remove the CO, but I'm afraid that will just wake the beast and have them on my tail again. They haven't sent me any letters in two years. I do get phone calls from 877 and local areacodes, but I never answer and no message is ever left. I also have a bunch of reports of late payments from Sallie Mae. This shows up as 7 different missed payments bc the student loans were in lumps of 5k, 3.5k, 2k, etc but they were all Federal Sub/Unsub loans. They were never sent to collections and I consolidated through Fedloan and the account is in good standing. I wanted to call Sallie Mae to ask to remove the reports bc they never went to collections and I consolidated but I'm not sure if there would be any luck. Thoughts? The last thing is a Perkins loan through my University. It went CO and then assigned to what looks like on my report as 3 separate CAs. When I consolidated all my loans, I convinced my university to take the loan out of collections so I could consolidate. They agreed and I was able to federally consolidate that with the Sallie Mae loans. All accounts show "Paid Collection", but the university still shows "Collection/CO" too. I'm going to try to see if they will remove this, but no idea. Now, the 3 CAs are showing up as FIRSTSOURCE ADVANTAGE, LLC, ONEADVANTAGE, and the third as just FIRSTSOURCE. The first two are the same company reporting the same debt. FIRSTSOURCE is one that was reported removed October 1st, 2015 but I can't tell if that's the same company too. I can dispute these and get them removed, right? I need to clean all this up as much as possible so any advice will help. Thanks!
  7. I have a charge off account with a credit union that is due to drop off my report 6/2016. On my Equifax report it's listed as open with a past due balance. On my Transunion report it shows as closed. Experience not reporting. How do I correct this with Equifax? I've disputed, filed a BBB, and CFPB. Equifax recently sent report saying the account is reporting correctly and it's not closed. This account is with an outside collection agency. Why am I being punish twice? I've contacted the original creditor and all they do is direct me to OCA. Help please this is holding down my Equifax score. fico scores Equifax 601 Transunion 676 Experian 686
  8. I have an old Kohls charge off for 900 dollars over 4 years old. However what they are showing is a credit line for 100 dollars on the acct event though its charged off. So at least on Equifax, possibly the other credit agencys its showing that I am 900 Percent Utilization on that account. I am rebuilding my credit but only have a couple small credit lines. so my over all utilization is well over 400 percent which is hurting my credit score much more than the old charge off. My question is- is this Legal? How can I have an active credit line on an account that was charged off almost 4 years ago? Obviously they are doing it to drive up my utilization. I have disputed it on the credit agencies to no avail. Any suggestions have anyone heard of this before? Is it a fair credit law violation that I can use to get this account removed. any help is appreciated.
  9. Hi - I'm in NY. After racking up sizable debt with my ex-fiancee (she: sometimes co-applicant, sometimes authorized user, sometimes just a mooch), we have separated. She refused to contribute $ after the split, so I paid the minimums for as long as I could. (I paid 10s of thousands - she paid zero.) Since then, the accounts have been unpaid, and now list on the credit report as "charged off". I have several questions that I hope you can help with. 1) Can the Charge Off get renewed each month? (It "Charge Off" appears monthly on my credit report.) 2) Does "charge-off" mean that the bank no longer holds the debt? (How do I find out who owns the debt?) 3) Does the Statute of Limitations of NY apply, or of the Bank? (I've read very conflicting info, including a NY case from 2010: http://www.nedap.org/hotline/defenses.html) 4) Can I refer the Collection Agencies to my ex-fiancee? (They don't seem to have her new phone or address.) 5) Would referring my ex-fiancee to the Collection Agency "re-start" the 7-year window? 6) If I settle with the Collection Agencies for a lesser sum, does that benefit my credit? Is there any other benefit? 7) Any other ideas? What would you do? Thanks a ton!
  10. Hi guys, I hope someone can help me. Long story short: My husband and I are trying to buy a house and there is one final issue that needs resolving to get the loan. I had an old debt with US Bank that was charged off in 2011 and sold to a JDB in 2012. On Experian and Equifax it shows as charged off/sold with a $0 balance to US Bank. On TransUnion, it shows it was charged off and shows a balance of $5400. I called US Bank and they said they do in fact show a balance due, even though the account does not belong to them. The account was settled with the JDB earlier this year. (Something I wanted to avoid/go to court over but I decided it wasn't worth the stress so I just paid them off). My issue is TransUnion needs to show this account with US Bank as reporting $0. Is there a form letter I need to use? I have been googling and I haven't found anything to be very helpful. You would think they could just update it over the phone. I don't owe them (or anyone!) money. What should I say in my request and what should I include? Please help.
  11. Here's what I understand from this webstie about charged off accounts: “A debt that is deemed uncollectable and written off. Also known as a bad debt.” When a debt is charged–off it does not mean that it goes away. Generally, creditors charge–off an account shortly before or right after sending it to a debt collector. Charged–off means the debt is bad, that the account is no longer open and active. The only negative items on my 3 credit reports are a foreclosure from 5 1/2 years ago. That's bad enough for a credit report but even worse, it shows up as two seperate credit items on each report because it was an 80/20 loan, meaning two loans for the house. The 80% loan shows as a $0 balance and foreclosed, but the 20% loan shows as having a $30k balance and wasn't included in the foreclosure. But even worse, it shows it as also "charged-off" in both the status and the payment history. I've disputed these before and that's how I got the $0 balance on the 80% loan...but I can't get the $0 balance on the 20% loan no matter how many times I dispute it. I'm just curious, and maybe I'm wrong here...but can a charged off acct also have a balance? I thought if it was charged off it is no longer open and active...and if it's no longer open and active, how can it still show an open and active current balance of $30k? It seems like they want to have their cake and eat it too. Having an active account that looks like I'm late on a $30k balance is really bad, but it hurts my credit score even more because your credit score loses points for every time something negative shows up in the report like, "charge off." To me, it seems like it should either be one or the other...either the account is charged off or it is a delinquent open account over 120 days late with a balance...but not both as it's a contradiction. How can I get the 3 cra's to either list this credit item as either one or the other, rather than both? Thank you for any help!
  12. I am formulating questions for Admissions. In trying to determine how to formulate my questions, I pulled my credit report to ascertain if I am dealing with an OC or a JDB in this suit. In the report, the OC account is labeled as a "Charge Off". Further down the report, a local collection agency (B0nne*vlle) has taken charge of the account (which agency is the Named Plaintiff in my suit). Under the CA's data it includes the info: "Original Creditor: (Local Bank)". Given this info, I cannot decipher if the OC sold it to the small, local CA? Or if the CA is just handling the collections for the OC. (The CA has hired an out-of-house attorney.) Thoughts? Also, if there's a link to guide me through writing Admissions, I would be grateful if anyone could point me to it. Thank you! (I'm in U.t.a.h.)
  13. So hello to everyone. I have used a couple of different credit repair services in the past. Had great luck with the first one years ago, not so much luck with the last one. They didn't do much at all over the course of almost a year, so I cancelled. I've decided to do it myself this time. I have the time and I've done a TON of reading on credit repair thanks to credit info center. Now, I have a couple of things I can't find answers on and I'm hoping you can help me. The one I'm looking at now is a Charge off from Capital One on my Equifax CR. The odd part is, in the 81 month payment history, every month is marked "paid" or "paid as agreed" and the account is closed with a $0 balance, but the status is still marked as 'charge off". Activity designator is marked as: Transfer/sold..it's also got a date of first delinquency. I'm completely confused by this...how can it be marked as paid as agreed in the 81 month payment history and still be marked as negative credit as well? I don't even know what to request of the CRA at this point for this line item.
  14. First off thanks for reading my post. Like many of us have experienced 2008 was a HORRIBLE year. Lost my decent paying job down to nothing for a while then making half of what I was before. Did what many people did and that was max out my credit cards, tried to keep up with the minimums for a little while then couldnt afford that. Went into collections and then I stuck my head in the sand, I pulled my head out once with debt consolidation for a few months in 2009 and couldn't afford that either. I have had my head in the sand ever since because none of the collection agencies were willing to accept what I could afford to pay them. I pulled my credit report since I got declined from a job almost immediately after my background interview. Then I found this web site. I noticed on my report that all of my credit card debt lists "charge off" and appears under something else with a collection agency. I am assuming that means it was sold to a junk debt buyer. An example of what is on my report. Original Creditor: Capital One Payment Status: Charge Off Account Type: Credit Card Credit Limit: 500.00 Date Open:6/1/2008 Last update: 8/1/2009 New Creditor: Portfolio Recovery & Affiliates Payment Status: seriously past due date/ assigned to attorney, collection agency, or credit grantors internal collection department Account type: collection account Balance $1284 Date open: 02/01/2013 Last Update: 05/01/2013 So I know the statute of limitations on revolving debt in Idaho is 4 years. I believe this one can easily be fought since I quit paying on that prior to 8/1/2009. One of my main questions is can I still do the validation process after the 30 day period as stated in the law? I have a few other things on my report that are just as similar to this example. any advice would be great!
  15. I have 3 accounts that have gone to "Charge-off" and say "Closed". I have a Bank of America card that now is in collections with North Star Location Services according to Bank of America but only Bank of America shows on my credit report. I have a Capital One card that is now with Oliphant according to Capital One but Oliphant is not showing on my credit report, just Capital One. Capital One will not accept any money from me since I'm assuming they sold the account but Oliphant has NEVER contacted me about this account. I even sent Oliphant a letter but I have yet to receive a response. I also have another Capital One card that went to ARS National Services but is now back with Capital One. Again, only Capital One shows on my credit report. What steps should I take next? I'd like to clean up my credit report the best way possible. Do I send debt-validation letters? If so, to whom? Can I try Pay For Delete? If so, again who do I send the letters to - the Original Creditor or the Collection Agency that isn't even showing on my credit report. I am new, obviously, so any help is appreciated.
  16. A verizon account was opened in my name about 3 years ago. I never signed up for this account, there is fraud going on. In 2013, I got a collections letter and decided to respond to it, the only problem is that i sent a DV 2 months after. 30 days after I sent the DV asking for a copy of the contract with my signature on it, they did not respond but instead updated my Credit Report to "charged off". This debt is absolutely not mine, I was under 18 when it was opened in my name. I just want to know what can I do next? I want this off my report. Please help
  17. The first collection account seems to be listed by a collector as a debt buyer account? It states it is a retail account. I never opened a retail account, so I will dispute with CRA first as not mine. What do you recommend afterwards if not removed? What is the best way to tackle this account? I reside in California. 1) Creditor classification: Retail Date opened: 10/06/2010 Balance amount $9,974 Amount past due $9,974 Date of 1st Delinquency: 11/2009 Date Maj. Del. 1st Rptd: 11/2010 Status- Collection Acct Type of Acct-Open Type of Loan-Debt Buyer Acct Whose Acct-Individual Acct This second account is a collection account for an education loan via a credit union. Please instruct on how to remove this account. 2) Creditor classification: Not mentioned, but it is a credit union Date opened: 04/01/2009 Balance amount: $0 Date of last payment: 12/2009 Date of 1st Delinquency: 09/2009 Date of last activity: blank Date Maj. Del. 1st Rptd: 12/2009 Status- Collection Acct Type of Acct-Installment Type of Loan-Education loan Whose Acct-Individual Acct. This account is a charge off account. Please advise on how to remove. 3) Creditor classification: Not mentioned, but it is a personal loan Date opened: 04/01/2009 Balance amount: $1350 Amount past due:$1350 Date of last payment: 10/2006 Date of 1st Delinquency: 11/2006 Date of last activity: blank Date Maj. Del. 1st Rptd: 12/2008 Status- Charge off Type of Acct-Installment Type of Loan-Note loan Whose Acct-Individual Acct. Thank you in advance