viking Posted March 9, 2005 Report Share Posted March 9, 2005 is it normal that a CA keeps updating the balance owed to the CRA? One CA just added $200 to the balance on one account.Anyone else seen similar things? Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Thats a hefty add to the balance, whats the orignal balance?? Depeding on all the laws, it may not be legal to add that much, but I am definately not an expert on this.. Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 MIDLAND CREDIT MANAGEMENT New balance: $3,546 Show/Hide DetailsAccount opened: 2/2002 Description: Collection account Previously reported Newly reported Account balance: $3,319 $3,546 Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Did you find out when if this account is assigned or was it sold to a CA, and your description shows opened in 2002, was that the Collection open date? When was the date of your last deliquency, DOLA? When was the last time you made a payment? And what was the balance when the first deliquency was reported? Are you prepared to make any type of payment? Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 DOLA July, 1999 High credit was $2200The 2002 date must have been when CA got the account. (Midland)I was living in Florida at the time so any SOL has to be according to FL law. Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Search the site for the FL SOL, I do not know it, but I think it is 5 years, not sure, but you are way in the drivers seat at this point, I am almost certain you are out of the SOL, and on top of that, July of 2006, it will fall off, well.. not to sure on that part because I have seen the 7 years + 180 days. I hope we get a confirmation on this. But like I said you are in the drivers seat, if you have money to pay the debt, and you confirm your out of SOL in FL, I have two suggestions, one, if you have more issues and collections, deal with those first, because there is no reason to apply for cards with collections if you already have a couple building positive history. Once you are successful with the others, determine whether or not you want or need your credit perfect right now ie. if you are buying a home or car. Because if you can wait another year, it will just fall off, otherwise if a purchase is coming up, find out if the debt it assigned or sold, if it is assigned, deal with only the OC, if it is sold, you may still be able to settle with the OC. Because they know they may never recieve payment, if you offer a very low amount only with a deletion they may take it, and your account will look like it was never bad. Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 Thanks for advice. Yes, there are more baddies, but all with same DOLA.How would I actually find out whether debt is sold or assigned? Ask the reporting agency I guess? Link to comment Share on other sites More sharing options...
KentWA Posted March 9, 2005 Report Share Posted March 9, 2005 I was living in Florida at the time so any SOL has to be according to FL law.Well not exactly. The SOL will normally be whatever the SOL is in your current state of residence. From what I have heard FL is unusual in that if the state you came from has a shorter SOL it applies, otherwise if it is longer, FL's applies.Whare do you live? Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Yes, asking them, but remember, they may answer you in a way where they think you make respond differently based on their answer, because over the phone you dont really have any way to record if they are lying, I would try to get ahold of the OC's on all accounts. So if all of them all have the same DOLA, I am curious, how much is the total debt of original debt owed at that time?? With all the CC and other debts? Because you really have a couple options over the next year and a half to get them removed. I would first folllow the whole dispute process, CRAs, DVs, keep all paper for trails. This may actually delete a couple entries alone, for the rest if they violate, use the fact that they are already past the SOL, and they violated as leverage to get a deletion. And for the remaining debts if you do not want to wait the remaining time out for the SOL, call and get a settlement with deletion. You are so in the drivers seat on all your debt, realistically, you could probably be completely clean by summer. Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 in Europe Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 Champion,I have $19k, Wife has $6k. Old sins from student years.All same DOLA. But now decision was made to return to Florida and buy house...Cash is no problem if settling should be neccessary. Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 So you already bought a house huh? I am assuming you did and if you did with that on your credit, did it effect your rates to a decent degree? If this is all true, then once you have your credit better, you can refinance, for I am assuming a much better rate and lower your payments..and I would recommend keep paying at least 1 extra payment a year, one big payment or divide your total payments for a year and pay that amount every month, you may of course already know this, but when you pay just 1 extra payment a year on your mortgage, at the end you end up paying it off 5-10 years earlier and saving thousands in interest. Just my 2cents Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 No, still in Europe. But wife wants to go back for MBA and we want to buy a house in FL. Have not done so yet though.Scores are about 560 so I doubt seriously even the mob would extend the credit needed But I agree with your earlier comment that it could be all fixed by the summer. First dispute with the CRAs. I have 2 clear JDBs on the report. I doubt the can verify. One is from a Citibank CC if I remember right....The charge offs might be tricker. Chase and a Bank. Then I have a Fleet who is still reporting account as open with a $85 120+ past due on a 1200 some balance.Only one collection, $180 from Bellsouth.Any thoughts? Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 I apologize, I am not to sure who JDB is (assuming a CA)? So with that assumption, yeah, just make sure you first dispute, get your results, DV them if they verify, also keep in mind, I disputed a TL and it came back deleted on 2 CR, then I disputed 2 more times for the remaining CR and it finally came back deleted. As far as the charge off with Fleet, you may be able to get a good result quick with thim if you are willing to pay a little cash, It looks like you say they are reporting so I would get ahold of their Collections department, and give your sob story and say you cant even get an apartment because your credit is so damaged, and I have a little money now, but If I pay you It wont matter becuase a paid collection means nothing on your report. Considering they have already written the debt off as a loss, anything will be acceptable, so just try to get them to hint the deletion if you pay something, and by all means, do not accept what a CSR says, they do not know nor are experieneced, or are authorized to sign a letter of deletion. So make sure you get a supervisor, remember, stay very candid, stay in crisis mode and ask for their help. If you cannot get to a letter of deletion on the phone, I would remind them that is will be falling off of your report in a year, and they can no longer do anything about the debt, and let them know you are willing to compromise. If I pay you , and get a letter, you get some cash, and I will not be discredited for another year, otherwise, you guys get nothing and I only have to deal with it for another year. Of course your first option would be to dispute the debt, again, sometimes they just dont respond, and I know a few companies have spent the last few years transitioning from huge paper trails to computer systems holding information. Is the Bellsouth Collection just as old as the others? This one will probably be very easy, oviously first dispute, then DV if verified, try and trap a non dispute reporting violation, use as leverage, if none of this happens and they do everything correctly, then find out if the OC is reporting or a CA, most likely it is a CA, but more importantly find out if they are assigned or it was sold to them. If it was assigned, you can negotiate with both the CA or OC, but reccomend trying the OC first, either way, on a very old $180 balance, looks like a phone bill (yes?), I had a very recent situation involving SBC, I paid the full balance because it was way within SOL main goal was a deletion which I got. In your case, you can easily end up settling for pennies on the dollar, especially if you tell them an old roomate kept the phone bill in your name without your knowlege at the time and now you are just finding out (you do not have to say this, but this is what I just did, and I got the CA to send a letter of delete with the balance PIF, of course I showed CC statements to that date with another address, they cannot possibly try and ask for this information, how many people keep this type of record). I am including a link to this recent situation, follow the other links on that post I listed, and you will probably get a pretty good idea on how to take this one down quick. I would also suggest searching my name for posts and looking at answers and my LONG posts (I like to explain in detail if you cant tell), the experts have answered a lot of my questions. Good Luck. SO SO Sorry if this is too long, or confusing....please let me know. I get so many thoughts when I am thinking about these things I start jumping all over the place a little. http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=26833LOL THANKS DOC>>> YOU ARE SO RIGHT Link to comment Share on other sites More sharing options...
DocDon Posted March 9, 2005 Report Share Posted March 9, 2005 paragraphs! paragraphs! I couldn't make it past the fifth sentence. Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Thanks DOC...I sometimes get excited and I want to help so bad after I have had so much success with your help... And I am also feeling so weird right now, I was sick this weekend, and It was still here today, I drank a pot of coffee, and had tylenol Cold, and I cant even explain how weird I fell.... SO WHATS UP DOC?? ROFL !!! Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 JDBs=Junk Debt Buyers Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 Thanks VIKE.. We can always count on finding the answer if you just ask...I did a search actually, there were so many posts, and I selected about 10 of them, until all I found was people referencing the abbreviationg for their circumstance, so I was close....thanks again.. Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 No, thank you. I enjoyed your confused essay. I will start the credit repair process immediately, and keep posting the progress here. Just have one little problem: No current address in the U.S. I have signed up for a mailbox service. I wonder how that will work since I have no utility bills to prove that I am residing at that address.I wont be back to the States before late Fall...Or how does it work? Will I need to prove that I am living at my mailbox address during the procedure? Link to comment Share on other sites More sharing options...
Champion80 Posted March 9, 2005 Report Share Posted March 9, 2005 I am going to have to BUMP this one>>> I have no idea!!Was there a PUN intended on my confused essay?? Just kidding I hope it helps.. Link to comment Share on other sites More sharing options...
viking Posted March 9, 2005 Author Report Share Posted March 9, 2005 No pun. Just being cheeky at 5.40am ....Thanks for your input so far. I will keep posting progress updates to this thread should anyone be interested. Link to comment Share on other sites More sharing options...
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