lossuzy Posted January 9, 2008 Report Share Posted January 9, 2008 Cavalry Portfolio services sent me a letter today wanting to settle a debt for 70% off. The TL is set to fall off my credit report in March 09. I thought about doing a pay for deletion, however is it really going to bring my credit score up significantly? I only have a little over a year to go. 1 Link to comment Share on other sites More sharing options...
VeVe Posted January 9, 2008 Report Share Posted January 9, 2008 How much would you have to pay?It's out of SOL, yes? If it's not a huge $ amount, it may be worth it just so you know you're done with it, but only if you get a PFD and a guarantee they won't resell the balance. Link to comment Share on other sites More sharing options...
lossuzy Posted January 9, 2008 Author Report Share Posted January 9, 2008 How much would you have to pay?It's out of SOL, yes? If it's not a huge $ amount, it may be worth it just so you know you're done with it, but only if you get a PFD and a guarantee they won't resell the balance.Wow, thanks. I had no idea that they could resell the balance. I think I'm just going to leave it and let it fall off next year. Link to comment Share on other sites More sharing options...
Krash Posted January 9, 2008 Report Share Posted January 9, 2008 i would leave it, because they may update it with ya lol. screw cavarly. i hate em Link to comment Share on other sites More sharing options...
lossuzy Posted January 9, 2008 Author Report Share Posted January 9, 2008 i would leave it, because they may update it with ya lol. screw cavarly. i hate emCan they update it for any other reason? I just looked on my ex report and it says that it's going to be removed in 2013!! Last time I checked which was last year, my credit report said that it was coming off in 2009. What happened???? Link to comment Share on other sites More sharing options...
Fizzle1979 Posted January 9, 2008 Report Share Posted January 9, 2008 They probably re-aged the account. Link to comment Share on other sites More sharing options...
lossuzy Posted January 9, 2008 Author Report Share Posted January 9, 2008 How can they reage it if there was no activity on it? The only thing I ever did was DV them. Link to comment Share on other sites More sharing options...
andbowd Posted January 9, 2008 Report Share Posted January 9, 2008 thanks for info.AB Link to comment Share on other sites More sharing options...
Fizzle1979 Posted January 9, 2008 Report Share Posted January 9, 2008 How can they reage it if there was no activity on it? The only thing I ever did was DV them.Because in most cases they re-age it illegally. Link to comment Share on other sites More sharing options...
Fizzle1979 Posted January 9, 2008 Report Share Posted January 9, 2008 thanks for info.ABDo you say anything else beside that? lol Link to comment Share on other sites More sharing options...
lossuzy Posted January 9, 2008 Author Report Share Posted January 9, 2008 Because in most cases they re-age it illegally.Thanks. That makes me feel better. As long as I didn't do anything to screw it up, then we're ok. Link to comment Share on other sites More sharing options...
Krash Posted January 9, 2008 Report Share Posted January 9, 2008 again, cavarly sucks, they just want to ruin your life and try to collect on a debt that has been charged off by them and by the OC so they get double the money, I hate em! Link to comment Share on other sites More sharing options...
debtmamma Posted January 10, 2008 Report Share Posted January 10, 2008 Calvary is awful! When I was cleaning up from ID theft, they mailed me their own form to have notarized, wanted bills from me, etc. I had already sent them an ID theft affidavit and a police report #. Link to comment Share on other sites More sharing options...
VeVe Posted January 10, 2008 Report Share Posted January 10, 2008 Wow, thanks. I had no idea that they could resell the balance. I think I'm just going to leave it and let it fall off next year.Just because is falls off doesn't mean it's gone from your life forever. That's why I was wondering how much you would need to pay. 70% off may be worth paying just so you can't have it haunt you anymore. Link to comment Share on other sites More sharing options...
lossuzy Posted January 10, 2008 Author Report Share Posted January 10, 2008 Just because is falls off doesn't mean it's gone from your life forever. That's why I was wondering how much you would need to pay. 70% off may be worth paying just so you can't have it haunt you anymore.What do you mean it's not gone from my life forever? The SOL has run out and they can only report it for 7 years right? Link to comment Share on other sites More sharing options...
VeVe Posted January 10, 2008 Report Share Posted January 10, 2008 What do you mean it's not gone from my life forever? The SOL has run out and they can only report it for 7 years right?They can sell it to another company, who can sell it to another company, who can sell it to another company....That's why if it's a small enough amount, you could get them to agree, in writing, to PFD (so it's gone now) and agree not to sell the remaining balance (so you never think about it again). Link to comment Share on other sites More sharing options...
lossuzy Posted January 10, 2008 Author Report Share Posted January 10, 2008 They can sell it to another company, who can sell it to another company, who can sell it to another company....That's why if it's a small enough amount, you could get them to agree, in writing, to PFD (so it's gone now) and agree not to sell the remaining balance (so you never think about it again).So if they sell it to another company and another company etc., does that mean they can extend how long they keep in on my credit report for? I thought it was 7 years and that's it. There hasn't been any activity on the account since it went delinquent. Link to comment Share on other sites More sharing options...
VeVe Posted January 10, 2008 Report Share Posted January 10, 2008 So if they sell it to another company and another company etc., does that mean they can extend how long they keep in on my credit report for? I thought it was 7 years and that's it. There hasn't been any activity on the account since it went delinquent.Yes, it's 7 years from the DOFD. I mean if all you're worried about is your credit score, then let it fall off. You can still be sued though (but have the SOL defense), and you'll have to respond and show up to court. You can still have CA's calling you, sending you letters, and reporting to the CRAs, which would require you to dispute, etc.Is it really that high an amount that you won't consider addressing it? Offer them 10 or 20% of the balance, or something, and see if you can get them to agree to a deletion and not to sell it. It could save you a lot of work, as well as a potential trip to the courthouse. Link to comment Share on other sites More sharing options...
2001Badyear Posted January 10, 2008 Report Share Posted January 10, 2008 And you can be sued for the account, even beyond SOL and reporting period. Link to comment Share on other sites More sharing options...
lossuzy Posted January 10, 2008 Author Report Share Posted January 10, 2008 Yes, it's 7 years from the DOFD. I mean if all you're worried about is your credit score, then let it fall off. You can still be sued though (but have the SOL defense), and you'll have to respond and show up to court. You can still have CA's calling you, sending you letters, and reporting to the CRAs, which would require you to dispute, etc.Is it really that high an amount that you won't consider addressing it? Offer them 10 or 20% of the balance, or something, and see if you can get them to agree to a deletion and not to sell it. It could save you a lot of work, as well as a potential trip to the courthouse.It's for a few hundred $$. I see you point about a PFD, however I just did that with the cable company and now I'm having problems with them because they reverified with EX and are still reporting the debt. Either way I look at it, I see problems. My main concern is it falling off my credit report. Thank you for your advice. Link to comment Share on other sites More sharing options...
VeVe Posted January 10, 2008 Report Share Posted January 10, 2008 For a couple hundred dollars, I'd pay it (but of course try to negotiate lower in addition to the other things). It's a small price to pay for peace of mind, knowing you can't be bothered years from now. Link to comment Share on other sites More sharing options...
hiblues Posted January 13, 2008 Report Share Posted January 13, 2008 make sure you get a PFD in writing BEFORE paying Link to comment Share on other sites More sharing options...
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