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ready to start over.


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Just wanted to say thank you for all the help that this forum has been.

 

im readay to get the ball rolling on repairing my credit history. im going by the where to start thread for newbies. but i have a few questions if yall dont mind.

 

a little history;

me and my wife stop paying are cc early 2011 we opened a small business and made the choice to so we can still take care of our family. so months went by then years. charge offs, JDB calls here and there you know the drills. the time has come to own up and start fresh again. we started the process of bankruptcy but hesitated. were currenlty trying to buy a house and our past action are starting to haunt us.were ready to try to repair what we have but have no idea where to start.

 

My activity with lawyers and JDB;

Portfolio recovery associates took me to court trying to collect a debt. i stated i do not owe them a petty and prove me that i do. no bill of sale no evidence. i recieved a letter in the mail saying that the case was dismissed with without prejudice.

 

I'm currently being sued by cap1 and have another trial set for august.

 

i guess the main question i have is once i go through my credit reports from the big three i want to make sure i handle each collector, lender, etc the right way. i noticed a lot of the accounts are portfolio recovery accounts maybe 3 to 4.  would the best solution be to fight? how would i start this. I've only did it in the pass because they initialized the process. 

 

From there would i contact the other account holders set up payments or dispute what i can? i want to try to clear as much off my credit i can.

 

i know the mistakes i have made and want to correct it. any recommendation for reading or links would be greatly appreciated!  I Just want to make the right choices and not make any matter worse then the are.

 

 

 

 

 

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If you can try and settle with only the OC's. Myself, I would not even try to settle with a JDB, they paid pennies on the dollar for your accounts and will try and collect the full amount or near too. Paying a JDB, they will lie to you and not put anything in writting. In the end you may well end up screwed. Even if you did settle with a JDB it's rare for them to remove their TL from your CR. Best hope there is they would show paid in full or as agreed, that will still haunt your CR's. Then too, paying them the OC's will still report on your CR until the 7 to 7.5 years are up.

 

Should you pay them a partial payment, you will either extend or reset your SOL depending on how long it is in your state. You must weigh what you want carefully before giving anyone money. Never talk to them on the phone, make all contact via US mail CMRRR. BV80, Sea Dragon, Shelly and a few others can chime in and advise you too.

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