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lummus

OH SO MANY QUESTIONS.. HELP PLEASE

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Hi everyone,

 

I have so many questions and don't know where to start.  I have been reading a lot on this forum and now I have myself so confused I am not sure what to do... So here goes.

 

I pulled my credit report.. I got transunion and Equifax.  I have a few questions on a few line items on there.  So here goes my questions.

 

On the Equifax.. I have the original creditor as HSBC/Beneficial.  The DOFD is 1/2008, last payment was 9/2009, date major delinquency first reported 6/2010.  The original amount charged off was $9956.00.. says it was transferred or sold/charged off account.  Also the amounts are different.  Midland has it as a $17855 debt (WHAT?)  How the heck can they add $8000.00 on to the loan when the original charge off was only 9956?

 

So the next thing on there is a collection from Midland.  It says that my account is open, type of loan is factoring company account.  It also has a few things different than HSBC.  Date major delinquency first reported is 8/2013.  I have not had any contact with them regarding this debt.

 

On my TU it says that the original debt with HSBC/Beneficial will fall off 12/14.  But the Midland says it wont fall off until 5/2016.  

 

HELP.. I am trying to clean my credit up so that I can buy a house and this is a MAJOR hit.

 

I am not sure that filing a debt validation will get me anywhere, but I need to take the first steps in fixing this.  

 

Thanks for any help you can give me.

 

 

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More than likely Midland is adding on interest they are not contractually allowed to.  I would start by speaking to a consumer attorney because they are also illegally re-aging that debt too.  You may be able to sue them.  FL SOL is 4 years so it is out of statute for them to sue you over the debt.  

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Thank you for the response.  I was hoping to be able to do this on my own.  But if I have to talk to a consumer attorney then I guess that is what I will do.

 

I was wondering if I could send them a DV letter or something about the SOL.  But really not sure where to start. This is so frustrating.  I just want it off my credit report... it is killing my scores.

 

I know it should drop off in 12/14, so that would be okay.. But would like to have it resolved before then because they have different amounts and dates of Last activity

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Thank you for the response.  I was hoping to be able to do this on my own.  But if I have to talk to a consumer attorney then I guess that is what I will do.

 

I was wondering if I could send them a DV letter or something about the SOL.  But really not sure where to start. This is so frustrating.  I just want it off my credit report... it is killing my scores.

 

I know it should drop off in 12/14, so that would be okay.. But would like to have it resolved before then because they have different amounts and dates of Last activity

 

If they are breaking the law the consumer attorney will take the case on contingency because Midland will be paying the attorney fees.  Most do an initial consult for free and if you can do it yourself they will tell you.  Don't be afraid to speak to a lawyer..  It doesn't obligate you to hire them.  

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Okay.. so I am still confused and not sure where to start.

 

I contacted Midland again today about my two collection accounts (one is my husbands and one is mine).  The one that is mine they will not file suit because it is past the SOL.  Will fall off credit report in 2016.  Wish I could get it off sooner.

 

The one that is my husbands (Chase Credit Card) they say they filed the lawsuit in November of 2013, but I have not received anything on this.  They say it is not out of SOL.  Was charged off in 2010.  I dont think that really matters, but whatever.

 

I also read somewhere that all debt collectors in the state of Florida have to be licensed in the state to collect on a debt.  I did some research on the office of financial regulations website and it says that they can face a fine of up to $10,000 if they are trying to collect and are not licensed.

 

Can someone possibly tell me what to do from here to try to get these two removed from my credit.  They are the worst ones on my credit report and are holding me back.  The other stuff is all medical bills and small.  I would like to get my credit repaired and start with the big ones first.

Thanks again for any help.

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Okay.. so I am still confused and not sure where to start.

 

I contacted Midland again today about my two collection accounts (one is my husbands and one is mine).  The one that is mine they will not file suit because it is past the SOL.  Will fall off credit report in 2016.  Wish I could get it off sooner.

 

The one that is my husbands (Chase Credit Card) they say they filed the lawsuit in November of 2013, but I have not received anything on this.  They say it is not out of SOL.  Was charged off in 2010.  I dont think that really matters, but whatever.

 

I also read somewhere that all debt collectors in the state of Florida have to be licensed in the state to collect on a debt.  I did some research on the office of financial regulations website and it says that they can face a fine of up to $10,000 if they are trying to collect and are not licensed.

 

Can someone possibly tell me what to do from here to try to get these two removed from my credit.  They are the worst ones on my credit report and are holding me back.  The other stuff is all medical bills and small.  I would like to get my credit repaired and start with the big ones first.

Thanks again for any help.

 

To date no court has ruled definitively that a trade line on a credit report constitutes collection activity.  So the fact that the SOL on the one debt is passed does not mean they can no longer report it.  ALL the law requires now is that they report accurately.  You may not have any leverage to get it deleted before the 7.6 year SOL for reporting expires.

 

As for the other account:  you have a bigger problem than that trade line.  Chances are good that you are about to be served or they are using sewer service.  You need to check your court's website to see if anything has indeed been filed against either of you long before you worry about deleting the trade line.

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Clydesmom,

 

Thank you for the information.  I may not be able to do anything about the one, but really wish there was something that I could find to remove it.  I will have to do some more digging.

As for the one that they say they filed suit on, I looked up my county courts website, and there is nothing in my name or my husbands name to reflect this "suit."  I dont know what a sewer company is?

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Clydesmom,

 

Thank you for the information.  I may not be able to do anything about the one, but really wish there was something that I could find to remove it.  I will have to do some more digging.

As for the one that they say they filed suit on, I looked up my county courts website, and there is nothing in my name or my husbands name to reflect this "suit."  I dont know what a sewer company is?

 

"Sewer" service is when they file the lawsuit in a county you don't live in at an address you have never lived at or haven't lived at in years.  The process server simply says they served a "person" and turns it in.  You have NO clue you are being sued therefore do not show up and they get a default judgment which you may not find on your credit for years.  By then it is too late to have it vacated.  

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She told me they filed it in my county, but did not tell me address that they filed it to.  I am really not sure that they filed the lawsuit as there is nothing on the court records.

 

They did speak to me about my husband's debt, which I dont think they are allowed to do.  I was an authorized user on the credit card, but technically the debt is his since it was in his name.  Is that a violation?  

 

I dont have my husband's credit report to verify everything (we apparently got the free one last year some time, but I am not sure when).  I wish I could get it so that I could get more information.  I am trying to do this without having to pay a ton of money that I dont have.

 

I am not sure if it the SOL is up on this one or not because I do not remember when the last payment was made, although they told me 5/2011, but not to them.  I think that the DOFD was well before then, probably around 2009 or 2010, so it well could be past the SOL.

 

I guess I am going to have to suck it up and pay for the credit report so that I am armed with more information to battle them with.

 

Thanks again for the help.  I am so new to this credit repair stuff and have so many questions and really not sure what to do about it.

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I have a collection account that I settled by paying for less than the full amount. My credit reports shows  Status - Collection Account with 0 balance. Shouldn't the trade line say paid collection account, or settled with 0 balance?

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31 minutes ago, Pheasant Gunner said:

Does a collection that is paid less that the full amount owed have a bigger negative impact on ones credit score verse a charge off that was settled and paid a lesser amount with a zero balance?

One of the great credit mysteries.  FICO does not reveal exactly how they calculate the numbers so there is no black and white answer to this.

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