travelgrl Posted September 28, 2003 Report Share Posted September 28, 2003 We are in the early stages of repair. Due to DH illness, unemployment by both of us and other situations beyond our control, our credit is terrible. We are maxed out, have decided not to pay anything except house and car. We have no discretionary income and our parents have been more than generous in assisting us through this time. But the problem is these things are still very new on our CR. Most accounts are just reporting 30-60 even though in reality they are more like 90-120. Phone calls are endless at this point and we do not want to file Bk even though we have considered it. With our new jobs we can manage the house, car and utilities and nothing else. I have a MBE address for a home business that I have on the side that I paid for a year in advance before all of this happened. Do I wait until these get charged off before I start this? I have gotten a couple of AU accts deleted, but I am afraid that if one OC gets deleted then it will be reinserted the next month when they update. I realize they have to notify me if this happens, but seems like I would have to monitor like a hawk!What do you think is the best way to handle this? BTW SOL is 3 yrs in my state. Link to comment Share on other sites More sharing options...
kb9tbq Posted September 29, 2003 Report Share Posted September 29, 2003 At this point... you might no longer be on the original creditors tape system, and may be able to accomplish deletion. But I don't understand how if you are at such a tough point in your life, fincance wise... why are you playing tag with the creditors. Each time you dispute, they are notified and reminded that debt is still there to be collected. Being inside of the SOL is not a good spot, if you have decided that you can't pay them. You may find worse problems like facing judgments on your credit report. Unless you can deal with the ones awake at this point to eventually settle. It is good that you are almost charged off... so that the interest and fees will stop accumilating. Just be sure if you do accomplish to delete the original creditor tradelines to keep back copies of your credit report so you know the fact of the matter should a collection agency reporting later try to re-age these accounts.If you dispute and the Creditor reinserts after the fact without you recieving 5 day notice from the CRA - that is when you write them back pointing out their failure to notify you.When they collection agencies start in with their letters of 1st communication; be sure to excersise your rights to request debt validation. Link to comment Share on other sites More sharing options...
travelgrl Posted September 29, 2003 Author Report Share Posted September 29, 2003 Ok thank you, What about the changing the address thing? Should we just wait this out a couple of months? As far as judgements are concerned-in our state they cannot garnish wages. Basically it would be a bad mark on the credit report, but they would not get any money from us. I know we would have to take care of it eventually when we bought a new house. Link to comment Share on other sites More sharing options...
kb9tbq Posted September 29, 2003 Report Share Posted September 29, 2003 I bet the Creditors / collection agencies at this time would be skip tracing these accounts... if you change the address, they will soon know the fact of the matter. It might help you get the tradelines off, but they may adjust right quick on this, worth a try if that is the way you want to go. Just be sure to opt out also so you don't have marketing coming to your new address either. Link to comment Share on other sites More sharing options...
Recommended Posts