question about disputing items on CR

[Gabby]

Why do people say that it is not in my interest to pay off a collection item that is close to SOL? My understanding is that there are two reasons. 1) It will not improve my credit rating one iota. 2) It will cause the item to be reported as a negative for another 7 years. Are these assumptions correct? Anothing else?

I have one collection from years ago on a cell I had provided to a friend who was caring for my son while I worked. She 'forgot' to pay the disconnect charges. I moved at the same time and did not know about the bill until years later when it showed up on my credit report. Last week before I found this site (found it this week), I paid 50% of the amount owed ($196), the CA offered to report the account as paid as agreed. They said that they upday the CA's daily. Well it's not updated yet. So now CR item is wrong. I want to challenge it. Is it wise to do this oneline? Equifax has a facility to do this online. Has anyone had any luck with using thier approach? I cannot find anyway online to print out my dispute.

What do y'all think?

PS: I've been reading here a lot. It's been very helpful. Thanks all

[qtptute]

Why do people say that it is not in my interest to pay off a collection item that is close to SOL? My understanding is that there are two reasons. 1) It will not improve my credit rating one iota. 2) It will cause the item to be reported as a negative for another 7 years. Are these assumptions correct? Anothing else?

I have one collection from years ago on a cell I had provided to a friend who was caring for my son while I worked. She 'forgot' to pay the disconnect charges. I moved at the same time and did not know about the bill until years later when it showed up on my credit report. Last week before I found this site (found it this week), I paid 50% of the amount owed ($196), the CA offered to report the account as paid as agreed. They said that they upday the CA's daily. Well it's not updated yet. So now CR item is wrong. I want to challenge it. Is it wise to do this oneline? Equifax has a facility to do this online. Has anyone had any luck with using thier approach? I cannot find anyway online to print out my dispute.

What do y'all think?

PS: I've been reading here a lot. It's been very helpful. Thanks all

NEVER deal with the collection agencies. They most likely don't own the debt nor do you owe the enitre amount stated. Only deal with the original creditor.

Only dispute with the CRA's it makes the CA verify and more for a willful case.

Don't use the online dispute for the CRAs either. Sometimes you end up unknowingly signing into an arbitration agreement and you then can't sue them for damages.

Send ALL disputes in writing CRRR (Certified Return Receipt Requested). Keep copies of everything you send.

[nascar]

Don't use the online dispute for the CRAs either. Sometimes you end up unknowingly signing into an arbitration agreement and you then can't sue them for damages.

Could you elaborate on that?

[Gabby]

NEVER deal with the collection agencies. They most likely don't own the debt nor do you owe the enitre amount stated. Only deal with the original creditor.

Only dispute with the CRA's it makes the CA verify and more for a willful case.

Don't use the online dispute for the CRAs either. Sometimes you end up unknowingly signing into an arbitration agreement and you then can't sue them for damages.

Send ALL disputes in writing CRRR (Certified Return Receipt Requested). Keep copies of everything you send.

OUCH!!! Guess that my instincts were correct... to stay away from any seemingly helpful offers by the credit agencies.

One thing that became clear to me a while back is that it is in the interest of the companies who write loans/credit cards to have as many people as possible with bad credit... they can make more off of us with higher interest charges. And the CRA's are their helping had.

[qtptute]

I believe (if my memory serves me correctly)that Equifax has a arb agreement with all online disputes. This HAS NOT been litigated, yet.

We tell our clients, if you can avoid doing your disputing your stuff online, then don't it. Send it in writing, CRRR.

Your on line dispute does not count as a dispute. Only WRITTEN disputes count. Also, your phone disputes don't count either.

[lookinup]

1) It will not improve my credit rating one iota. 2) It will cause the item to be reported as a negative for another 7 years.

Paying a CA shouldn't cause the item to be reported for an additional 7 years. It should still fall off 7 (or 7.5) years from the date of first delinquency.

The problem with paying off something old showing on your credit report is not only does in not improve your rating, it will negatively impact your credit rating. This is because the item gets updated from something bad but old to something bad but new, even though the new thing you did was pay it off.

[gypsie]

Your on line dispute does not count as a dispute. Only WRITTEN disputes count. Also, your phone disputes don't count either.

I don't mean to be rude.... but since when?

I guess all the disputing I did over the past 3 years online and telephonic didn't really count? Funny, my CRs say differently.

Gabby, "Control P"- hold both keys down at the same time- that's the keyboard shortcut to printing- if you can't find the print option on the dispute page.

And yes, most here do reccommend to always dispute by CMRRR- but not for some sort of alleged "arbitration" problem, or because "it doesn't count". It's so you'll have a green card to show as proof- if you ever need to sue the CRA.

In reference to your questions, Lookinup is correct

[gypsie]

I just googled "Equifax Arbitration online disputes" and what I found was several credit repair/ credit help, ect... agencies/firms that pretty much said the same thing you said, qtptute.

However, there's no data to back the claim up. If you have it- please share. An article? something, besides "if memory serves me".

I'm not being a smart*ss, I really am interested.

[qtptute]

I just googled "Equifax Arbitration online disputes" and what I found was several credit repair/ credit help, ect... agencies/firms that pretty much said the same thing you said, qtptute.

However, there's no data to back the claim up. If you have it- please share. An article? something, besides "if memory serves me".

I'm not being a smart*ss, I really am interested.

Not to be rude, or a smart *ss either, but this is insider knowledge. Like I stated before, it has not been litigated yet. There is a loophole for online disputes and arb. (I just can't put my finger on it yet. When I do, I will let y'all know. As far as it being if my memory serves me, I was stating that about which CRA. I'm almost positive it's EQ.)

Since our law firm deals with EX, EQ & TU daily, we've found out certain things from other attorneys, through deposition transcripts and other means such as the blind arb agreement when you do an online dispute.

Also, when you are suing the CRA's and you are deposing the Customer Service Agents, THEY WILL LIE and say that they've don't remember receiving your phone dispute, even if there is a recording. We've had it done to us (and many others). So, it's your word against theirs. It's a believability issue for the jury.

[Gabby]

Thanks for the feedback.

I get what both qtptute & gypsie are saying. There are two sides to the story. When all goes well the online disputing and phone calls are fine, they can work. But when it does not all go well there is no way to prove all of the contacts, letters, etc except it it was in written from and sent CRR mail.

On the topic of paying off old debt. From what was said, if I pay a debt from 5/2001 today, then the SOL is still 5/2008 and it should be removed from my credit report on or about 5/2008. So that's good news.

[Gabby]

Does anyone have any experiance with the CA AFNI, INC. ( ANDERSON FIN NETWORK/BLOOM)

I paid the offer amount on their web site a little over a week ago. On their web site it says that they update the CRA's daily. Well nothing has been updated at this point on Equifax. (For some reaon Equifax is the only one of the three that will let me sign on right now.)

So I'm sending a dispute to all three CRA's stating that the amount owed and dates are wrong. Hopefully this will get the items removed from my credit report. We'll see.

Another question of SOL. I received this bill on the 5/2001 statement from the Cell phone company. That 5/2001 date is the basis for the SOL right?

The CRA item gives a date of 11/2001 as the date of last activity. I am concerned that this will be used as the basis for the SOL.

[nascar]

The CRA item gives a date of 11/2001 as the date of last activity. I am concerned that this will be used as the basis for the SOL.

No need to be concerned about SOL now; you paid them.

[Nikro]

Does anyone have any experiance with the CA AFNI, INC. ( ANDERSON FIN NETWORK/BLOOM)

I paid the offer amount on their web site a little over a week ago. On their web site it says that they update the CRA's daily. Well nothing has been updated at this point on Equifax. (For some reaon Equifax is the only one of the three that will let me sign on right now.)

So I'm sending a dispute to all three CRA's stating that the amount owed and dates are wrong. Hopefully this will get the items removed from my credit report. We'll see.

Another question of SOL. I received this bill on the 5/2001 statement from the Cell phone company. That 5/2001 date is the basis for the SOL right?

The CRA item gives a date of 11/2001 as the date of last activity. I am concerned that this will be used as the basis for the SOL.

Yep. They are a company who is getting a bad rap for sending "payment agreements" to people who do not have Cingular or Verison unpaid accounts.

I JUST sent them 2 DV's for Cellular bills not listed on DH's CR and AFNI even says they are from 2002. I guess they should have made a TL by now, wouldnt you think?

If anyone else gets these % off offers, always DV them.

[gypsie]

No need to be concerned about SOL now; you paid them.

I think she was referring to the 7 year reporting period instead of the actual SOL for collecting. That is -based on her original question.

Gabby, in reference to your concern- "The CRA item gives a date of 11/2001 as the date of last activity. I am concerned that this will be used as the basis for the SOL."

Do you think 11/2001 was the month that the CA agency purchased the debt?

If 5/2001 was the month the debt when delinquent..... Then next year in May- if the item has not fallen off of your CR -dispute it as obsolete, and if the CRA needs proof send them a copy of your statements.

But hopefully, you'll get it removed with your latest round of disputes!

Good luck!!