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So if collections is hurting my credit score, but if I pay collections, and purportedly it will still hurt my credit history for its 7 year period, then whats the point of paying collections? Should I just ride out the 7 years if paying or not paying makes no difference to my credit score anyways?
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Oct 20, 2014 22:55
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EAB posted:So if collections is hurting my credit score, but if I pay collections, and purportedly it will still hurt my credit history for its 7 year period, then whats the point of paying collections? Should I just ride out the 7 years if paying or not paying makes no difference to my credit score anyways? There are two cases in which paying collections agencies might help you: 1. They agree in writing to delete the debt from your credit reports, NOT just mark it "paid in full" (I've always heard of people doing this but never tried it myself so take it with a grain of salt) 2. They are going to sue you for a non-trivial amount of money and have their poo poo together and will win a judgment against you and can enforce the judgment. This is unlikely because large amounts don't really get sold to collection agencies that much in my experience; original creditors deal with these accounts themselves. If you stop paying your $56,789.00 balance on your Chase card Chase bank will be the ones to sue your rear end rather than get pennies on the dollar. If you stop paying your $200 balances on a Macy's card it'll end up in collections.
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Oct 21, 2014 00:42
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seacat posted:If you have a $191 debt sold to rear end in a top hat Collections, Inc by Time Warner, for example, you wait 6 years and 11 months, and decide to pay ACI the $191, that tradeline won't drop off after 7 years. It will continue on file as "Paid in Full" for 7 more years. So that is 14 years of a douchebag collections agency on your credit reports. Please stop telling people things that aren't true. FCRA Section 605. Requirements relating to information contained in consumer reports posted:(c) Running of reporting period. As you see here, collection accounts are based on date of first delinquency, not date of last action.
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Oct 21, 2014 05:09
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Man, I am helping a friend of mine clean up her poo poo and I can understand how this can get super stressful for a person. So far I've found this much from the info she's given me and digging through her credit report and online court records: 2 accounts in collections, one was opened Feb 19, 2008 and one on Aug 13, 2012, statute of limitations in Michigan is six years so I gotta dig into that first one to see what we can do. 2 default judgments in 2011, one for almost ten grand (Pretty sure this was a chase account that was closed on Mar 30, 2008 and sold off) and a second for just over one grand that I haven't figured out yet. Both have writ of garnishments against her state tax returns. The first expires 10/31/2015, the second 10/31/2014, both have been extended multiple times since 2011. Not sure if the second one is getting extended again or not or what we can do to track down who the original creditors were on that one. I think she's hosed on the judgments but maybe we can clear up some of the other stuff.
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Oct 21, 2014 17:14
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Sub Rosa posted:Please stop telling people things that aren't true. So if I decide to pay off a $129 collection account that was opened in 2009, it'll switch to Paid in Full and still roll off my record in 2016?
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Oct 21, 2014 17:16
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I have a $130 collections for cox cable, I figure I should pay it in case I move to an area where I would have to be their customer again... Still if paying this crap got it removed from your credit report wouldn't it encourage a lot more people to actually pay collections?
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Oct 21, 2014 19:03
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Sub Rosa posted:stuff EAB posted:I have a $130 collections for cox cable, I figure I should pay it in case I move to an area where I would have to be their customer again... Still if paying this crap got it removed from your credit report wouldn't it encourage a lot more people to actually pay collections? Hilariously in 2007 I ended up owning Time Warner like 600$ for a TV service my deadbeat roommate at the time signed up for in my name. In my youthful brilliance I just said gently caress it and never heard anything again. Fast forward to 2013 and despite never having paid them I signed up for cable internet without any problems (they even did some sort of background check on me to make sure I had a good track record with them). I've been pulling my annual credit reports every year since 2009 and it's not listed as any collections, seems like it just disappeared 
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Oct 21, 2014 20:18
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Also, I'm not sure when it's effective but Fair Issac is going to score settled accounts higher (better) than outstanding accounts.
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Oct 22, 2014 01:00
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seacat posted:... large amounts don't really get sold to collection agencies that much in my experience; original creditors deal with these accounts themselves. If you stop paying your $56,789.00 balance on your Chase card Chase bank will be the ones to sue your rear end rather than get pennies on the dollar. If you stop paying your $200 balances on a Macy's card it'll end up in collections. Smaller balances are the majority for sure, but OCs can and do offload many medium to high balance files. Maybe even more surprising is that many, many totally collectible* files don't even get sued until the third or fourth placement**. I handle one low-volume state in a multi-state firm working purchased debt, and I have about 6,000 files. Of those, about half are above $1k and maybe 20% are over 10k. It's pretty common to see five figure purchased debt. My largest file is $250,000. The typical commission for attorneys is 1/3. If collections agencies only worked $200 files the overhead alone would shut the firm down in no time at all. Files below a certain balance get sold off or subcontracted to what I presume to be the absolute dregs of the industry. Anything between $1-10k is a pretty good bet for a debt collector. It's worth pursuing from the collections side, but not a hopeless situation for a debtor. (*meaning, the debtor has a well-paying job/career that is verified to be current and is an unlikely bankruptcy candidate) (** this is usually, but not always, because the first one or two placements are by bulk purchasers who then divvy up the files by state/region and resell them to agencies operating in those states/regions)
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Oct 22, 2014 06:13
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GobiasIndustries posted:So if I decide to pay off a $129 collection account that was opened in 2009, it'll switch to Paid in Full and still roll off my record in 2016? Should be seven years from when the original account went delinquent. Some collection agencies don't accurately report the date of first delinquency, and that can be a violation for which you sue them for. Generally if you are going to pay something off in full it is in your best interest to negotiate a pay-for-delete. It's basically better for it to not be on your credit report at all than it is to be on your report as a paid-in-full collection account because collections are fundamentally derogatory. It doesn't cost them anything to agree to delete it once you pay, so save yourself the couple of years of waiting for it to fall off.
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Oct 22, 2014 11:51
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Hugbot posted:Smaller balances are the majority for sure, but OCs can and do offload many medium to high balance files. Maybe even more surprising is that many, many totally collectible* files don't even get sued until the third or fourth placement**. Wow, I'm pretty surprised but completely believe you. I can't help but wonder why OC's aren't more motivated to take these people to court themselves over these larger (5 figures+) accounts, is it really just not worth it for them even with the sums involved? Seems it would be so much easier for them to sue than for a CA since they presumably have all of the data on the account (contracts, delinquency dates, complete payment history, etc) neatly and it would be a slam dunk case. Sorry to all about the inaccuracies I definitely did not trying to spread misinformation with my post. I have a lot of experience with credit, and dealing with debt collectors but it seems my picture is obviously far from complete.
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Oct 22, 2014 12:46
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seacat posted:Wow, I'm pretty surprised but completely believe you. I can't help but wonder why OC's aren't more motivated to take these people to court themselves over these larger (5 figures+) accounts, is it really just not worth it for them even with the sums involved? Seems it would be so much easier for them to sue than for a CA since they presumably have all of the data on the account (contracts, delinquency dates, complete payment history, etc) neatly and it would be a slam dunk case. Winning the case isn't the problem... it's collecting on it afterwards. Spending $500 to chase $800 with a 20% chance of collecting isn't a good bet. Higher balances push the bet into a net gain, averaged out.
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Oct 22, 2014 14:34
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seacat posted:Wow, I'm pretty surprised but completely believe you. I can't help but wonder why OC's aren't more motivated to take these people to court themselves over these larger (5 figures+) accounts, is it really just not worth it for them even with the sums involved? Seems it would be so much easier for them to sue than for a CA since they presumably have all of the data on the account (contracts, delinquency dates, complete payment history, etc) neatly and it would be a slam dunk case. No need for apologies, man, we're all here to learn and you aren't really wrong, you just haven't seen big balances. It's accurate to say there's TONS of tiny-balance debt being collected by bottom feeder agencies out there, and my perspective is probably a little skewed because I don't see any of that volume because it's outsourced. I'm constantly surprised by things I learn about the industry, myself. I am constantly infuriated by the fact that OCs don't pursue those bigger files. One, the evidence is all right there for the OC to use right away and get the judgment. It might not be immediately collectible or securable with a lien, but it's at least on record. Two, when Chase or BoA or whoever unloads a $50k file at 10% face value, all customers (and all borrowers, through interest rates) eat a small part of that pretty big loss. And it happens all the time. It's a pretty lovely business practice IMO. I did an internship for an attorney hired directly by a regional credit union to collect accounts. It's night and day between that and placed debt- client relationship, availability of evidence, better information, constraints/FDCPA, you name it. And honestly, the interaction was, on whole, a lot better between debtors/defendants and the firm. It's a lot easier on everybody when the debt in question was very recently acquired, from the same creditor, with a paper trail, instead of disappeared into the aether for five years until statute is almost run out and it resurfaces. People are a lot less angry, less likely to get litigious, and tended to just get it taken care of.
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Oct 23, 2014 02:51
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woozle wuzzle posted:Winning the case isn't the problem... it's collecting on it afterwards. Spending $500 to chase $800 with a 20% chance of collecting isn't a good bet. Higher balances push the bet into a net gain, averaged out. Truth. Getting the judgment is usually pretty immediate in the lifespan of an agency file, and the rest of the time is spent hunting down employers and bank accounts. It's usually a good idea to get the judgment regardless of potential garnishment or lien actions, though, because the judgment will usually last many years longer than the SOL of the unsued debt, and can usually be renewed/revived as needed. Costs sometimes play into it, but surprisingly not that often in my experience. If $500 worth of costs and fees can be claimed as part of the judgment balance, then you turned your $800 claim into $1300. edit: you're right, if the debtor is a huge bankruptcy risk or is 80 years old with no assets, then it's probably not worth suing. It's all a numbers game. If you've got an agency with enough volume, then having an attorney on staff really pushes down what would be the equivalent attorney fee per file, and most judgments only require $100 to $200 in court costs. Those are usually just the filing and service fees, a very small percentage of defendants actually file answers and almost nothing is actually litigated. I have like five real-deal in-suit cases out of 6,000 right now. Hugbot fucked around with this message at 04:09 on Oct 23, 2014 |
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Oct 23, 2014 04:02
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Early this year, I had some medical tests done and ended up getting a BiPAP machine and an oxygen concentrator. I went out of pocket $800 or $900. My insurance deductible at the time was $1k, and the split for this sort of thing was 80/20. I lost my job and my insurance about a month after that. Today, I got an email saying I owe money for the equipment, and containing this paragraph: "Also, I need to inform you that we never receive any payments from your insurance for the 2 equipment. This is due to some documents that we failed to provide to prove that your machines are medically necessary. Your Balance is now increasing so we decided to make use of your visa card on file to transact the payment. Instruction came from the Billing Supervisor and Upper Management. Once it gets through, I am going to send your Billing Statement as well as the receipt." I logged into my bank account, and, sure enough, there was a charge for about $200 from this company. I have been out of work since February, so this is a Big Deal. I do not recall ever putting a card "on file," but I did use a card to pay the up-front cost for the equipment. I suppose anything is possible. I am not sure how them loving up paperwork means they get to take money from my bank account, though. The company name in the email signature shows up as a Nevada LLC, but I cannot find any information about them. The website URL in the email signature does not exist, and has never been registered according to a WHOIS search. The email address the email came from does seem to be related to the company I paid for the equipment, but combined with the rest, it seems shady. I don't know if this is an internal collections department I am dealing with, or something else. I do not have a phone, currently, and I don't want to respond to the email until I have some plan of approach. If I demand they not levy any more charges against the account until they provide proof that I authorized such, do they have to respect that? As long as they do (if they do) have the paperwork, can they just suck out the last few dollars I have without bothering to prove to me that they have the authority to do so? If I did not sign anything authorizing this, what recourse do I have? Also, this is not strictly collections-related, but does anyone know if I am responsible for the full amount of the equipment, given that I was covered at the time I made the first payment?
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Oct 24, 2014 22:48
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Centripetal Horse posted:Early this year, I had some medical tests done and ended up getting a BiPAP machine and an oxygen concentrator. I went out of pocket $800 or $900. My insurance deductible at the time was $1k, and the split for this sort of thing was 80/20. I lost my job and my insurance about a month after that. Today, I got an email saying I owe money for the equipment, and containing this paragraph:
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Oct 25, 2014 00:21
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Thread, I need some input. I have a paid in full (Including interest, ffs, they wouldn't negotiate with me at loving all, no PFD, no reduction of interest or fees. I tried. I figured lets pay it and get it over with) medical debt that went bad 5/20/2008. It should drop 5/21/2015, right? My real question is not when it will drop on its own, but what I can do to speed that up. Can I send a dispute to the CRs for a HIPAA protected debt? I have read a bit about it online and am mildly confused. Can you guys point me in the right direction? The real reason I ask about this isn't due to my PIF debt, but due to some of my gf's, which were incurred in 2009-10, and won't be dropping as quickly. We would like those gone sooner than later (eg sooner than next summer). seacat posted:As much as I hate the big banks (BOA Chase etc) they are very efficient about reversing these charges so if you are with one of those you're in luck.
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Oct 25, 2014 01:45
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seacat posted:This all sounds super shady, given what you've described and the hilariously bad grammar/capitalization of the e-mail. If you are confident that you never signed anything in writing authorizing a payment I'd dispute it with your bank ASAP. As much as I hate the big banks (BOA Chase etc) they are very efficient about reversing these charges so if you are with one of those you're in luck. It sounds more like you're being scammed than anything. I think it's legit in that it's coming from people I have done business with who feel they are owed money. He sent a bill a few hours ago with the right equipment listed on it, and they charged my card. I am more interested in whether or not they can just decide to charge me without getting my consent, and what I should do if they are out of line.
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Oct 25, 2014 02:54
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Hi thread, I'm slowly working through this thread but would like some insight on my specific situation. I see there has already been some discussion on this very page about this topic! And just as I have found everywhere online there seems to be no real consensus on whether you should pay your collections or let them roll off. Here are my current scores and their sources: 608 from capital one credit tracker 632 from credit karma (transunion) 642 from mint.com I would like to get my credit score (at a minimum) over 660 to start with. I have one measly master card that capital one bought from HSBC with a credit limit of $320. It had $255 on it and I just tonight paid it down to $10, so I expect that to help a little bit. Beyond this, I had plans to open a secured card for $1,000 with my credit union as I read on credit karma that this was a good way to re-establish/repair credit. Now, getting to the collections. These are all medical collections from when I was very sick and my lovely student insurance didn't cover a lot of things. I'm kicking myself because my husband and I tried hard to actually stay on top of and pay the bills, but there were so many coming in that a few apparently slipped through the cracks. $271 - scheduled to fall off June 2017 $87 - scheduled to fall of Feb 2019 $156 - scheduled to fall off June 2017 $329 - scheduled to fall off Jul 2015 $344 - scheduled to fall off May 2016 I also have one judgement (medical bills of $1,289) on my report which was paid in full a year ago and is scheduled to come off Aug 2017. They are all fairly small amounts, so I am tempted to pay them, but will doing so actually help my credit score? My husband and I would like to apply for a loan from my credit union in about 8 months or so, and I haven't had a chance to talk to them yet, but what sorts of credit scores to banks and credit unions typically look for for a personal loan? My husband and I would like a loan for about $10,000 for infertility treatments. I have heard various things that once they are on your credit report, paying them won't help anything and it's best to let them fall off. Some websites talk about pay for delete and others say that's a myth and it doesn't exist/work. Then some say even if your credit score is good if you have a collections account that you can't get a loan so it's best to pay them off anyway. Basically, every piece of advice out there conflicts with the next article I read. So what do you say, goons? I live in Oregon if it matters. Edit to add: our cars are both paid off. We don't have a mortgage. Our only debt are credit cards that we are paying down (highest is $2700 for husband's capital one, and a kay jewelers card with $1,600 from our wedding ring purchase and that's it) and federal student loans. Scenty fucked around with this message at 08:48 on Oct 27, 2014 |
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Oct 27, 2014 06:42
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Scenty posted:Hi thread, I'm slowly working through this thread but would like some insight on my specific situation. I see there has already been some discussion on this very page about this topic! And just as I have found everywhere online there seems to be no real consensus on whether you should pay your collections or let them roll off. I would start by getting your FICO credit score from myfico.com. My understanding is that the FICO score is used by most lenders to determine creditworthiness so that's the one you want to look at. Unfortunately it's not free but it's not that expensive. The following is anecdotal evidence: I haven't seen my credit score go up any from paying small (< 1,000$) accounts with collection agencies. When I had really crappy credit (back in 2010) I paid off "$3000" (balance plus their bullshit fees) spread across four collection agencies, same as you. Of course after lots of letter writing and annoyance I settled only paid about $800, and they were marked paid, but my Transunion credit score didn't change, it stayed in the high 500's even with accurate reporting. I'm in the high 600's now after a lot of work. Nobody is going to sue you over any of those amounts. I've heard (again, unfortunately anectodal) stories that some lenders do look at your whole credit report and not just the score, especially for larger amounts. So paying them off as a goodwill measure might help you in the long run even if it doesn't raise your score. I was mistakenly under the impression that paying it resets the 7-year clock but apparently that is not true. At least it'll stop them harassing you but be sure to pay everything with $ orders not personal checks, do NOT give them your signature, and get proof in writing that it is paid in full and follow up with credit bureaus that it is accurately reported (some debt collection firms are incredibly shady in their practices). Getting a secured credit card is definitely a good idea. Obviously you will have to pay an annual fee and get pound me in the rear end interest rates but that's just par for the course and isn't going to hurt you that much if you just use it once a month and pay it off. Just make sure you shop around. Low 600's isn't terrible enough that you can't get a decent deal (my secured card is $29/yr with no benefits but whelp that's the mess I got myself into) Credit utilization is a huge chunk of the pie so keep paying those cards down and NOT using them. If you have self control it won't hurt to call and ask for a credit line increase to lower your % credit utilized. Pay for delete, I haven't had any success and I've tried with about 7 different collections accounts. I've heard it works for some people, I dunno, maybe I'm just not lucky. Can't really say more about getting a 10K unsecured loan but low 600's is not likely to cut it unless you are willing to get reamed on the interest rate. I understand obviously if it's for fertility treatments you probably don't have a lot of time to sit around piling up cash and improving your credit score.
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Oct 27, 2014 14:35
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seacat posted:Congrats on starting to get your stuff in order! Thanks so much for the advice. I signed up for myfico.com and it's better than I thought [that 608 from cap1 credit tracker scared me]. 628 from experian, 633 from transunion, and 639 from equifax. Not wonderful but not as bad as I was bracing for. I don't know how accurate their little simulator is, but all of them put me at about 670 if I paid off my credit card. I just did that and plan on using it intelligently so I should see how that really worked out soon enough. Additionally the secured card should help my utilization rate, yeah? Sadly, what you said is what I figured. Paying off my debts won't help my score but it can act as a goodwill gesture. I don't understand why they don't bump up your score for paying debts, give people an actual incentive, bleh.
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Oct 27, 2014 20:10
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Scenty posted:Thanks so much for the advice. I signed up for myfico.com and it's better than I thought [that 608 from cap1 credit tracker scared me]. 628 from experian, 633 from transunion, and 639 from equifax. Not wonderful but not as bad as I was bracing for. I don't know how accurate their little simulator is, but all of them put me at about 670 if I paid off my credit card. I just did that and plan on using it intelligently so I should see how that really worked out soon enough. Additionally the secured card should help my utilization rate, yeah? Sure, maybe some people can comment further. I am not an attorney or financial advisor just a guy who has used a lot of internet to fight collections activity and improve his credit so perhaps someone wiser than me can give some more detail or better answers. Also I reread my post and wanted to clarify something might make you feel a bit better: I raised my credit score from a shittacular 500 something 100-150 points over 4 years but that is a really bad outcome. Why? I had a major family emergency in 2012 where I had to use every penny of my available cash and ended up being as late as 60 days on some payments. It pissed me off severely and was not the financially sound choice but I was extremely ill and stressed at the time and not thinking clearly. Making your payments on time for any loan (mortgage, student loan, revolving whatever) is priority #1. Taking repayment of CCs aggressively, trying to open some more lines of credit but NOT using them, and negotiating with debt collectors to pay less what they claim you owe (sending one CMRR letter is all it took for me to settle a $919 balance for $275 if I remember correctly) so you can put on that secured card, it's not far fetched your score could be in the high 700's or even the magical 800 in a year or two. Wish paying off collections improved your score, too. Why isn't it that way? My personal theory is that creditors want that money paid back to them on time, which means they want high credit scores. If it goes to a collections agency they've written it off as bad debt on their books for pennies on the dollar and don't want to deal with people like you again until you can reestablish your creditworthiness. If you pay the CA, which lenders don't care about, and it improves your score, it'll muddle their ability to evaluate that creditworthiness. So it doesn't. I might be totally wrong on this one that's just my theory.
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Oct 27, 2014 20:39
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I've got a quick question: I'm looking at possibly filing a chapter 7 to kill a note on a painfully upside-down house where the servicer is being extremely abusive. (It's way more complex than that but the question is unrelated to the reasons why I'd be filing). My question is: What does that do to other debts that are old (5-6 years)? Do creditors come swarming out of the woodwork when they smell blood? If I do file and get a discharge, does that reset the amount of time the records stay on my report? The debt is a mix of medical that should have been covered by insurance (I outright refuse to pay those) and my credit card debt that went delinquent at the 2008 meltdown when I lost my job. For the most part, I just want it to go away. Nobody's calling me about it anymore, nobody's writing me. Edit: My attourney will answer any legal questions, mine was more "what's the behavior of the debt collectors?" which is an experience thing, not a legal issue.
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Nov 6, 2014 22:22
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Harik posted:I've got a quick question: I'm looking at possibly filing a chapter 7 to kill a note on a painfully upside-down house where the servicer is being extremely abusive. (It's way more complex than that but the question is unrelated to the reasons why I'd be filing). After bankruptcy, no creditor can make any action against you to collect a pre-petition debt. That protection includes reporting to credit bureaus. So there is no issue with timing and reporting because no debt that predates your filing can be reported. There is no swarming of anything; bankruptcy has the opposite effect. Credit reports will still show a zero balance line item for each debt but they cannot report a balance due. Offending creditors can get hit with a bankruptcy sanction or fair debt collection practices act claim, which your attorney can explain.
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Nov 6, 2014 22:30
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woozle wuzzle posted:After bankruptcy, no creditor can make any action against you to collect a pre-petition debt. That protection includes reporting to credit bureaus. So there is no issue with timing and reporting because no debt that predates your filing can be reported. There is no swarming of anything; bankruptcy has the opposite effect. Credit reports will still show a zero balance line item for each debt but they cannot report a balance due. Offending creditors can get hit with a bankruptcy sanction or fair debt collection practices act claim, which your attorney can explain. Great. Also, who's responsibility is it to assess how much I owe? There's no registry of debts that I can turn to, so is it up to whoever bought the excel spreadsheet to contact me?
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Nov 6, 2014 22:52
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Harik posted:Great. Also, who's responsibility is it to assess how much I owe? There's no registry of debts that I can turn to, so is it up to whoever bought the excel spreadsheet to contact me? It's nobody's responsibility in a 7. You're not contacting creditors and they're not contacting you. You'll file a list of debts with the court and the court mails notice, but that's it. The amount listed for a debt is relatively irrelevant. Like if you list $100 owed to Bank of America, but it turns out you really owe $102.53 or $1 or $10,000 it doesn't matter.
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Nov 7, 2014 00:15
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woozle wuzzle posted:It's nobody's responsibility in a 7. You're not contacting creditors and they're not contacting you. You'll file a list of debts with the court and the court mails notice, but that's it. The amount listed for a debt is relatively irrelevant. Like if you list $100 owed to Bank of America, but it turns out you really owe $102.53 or $1 or $10,000 it doesn't matter. Is it all debts, or just debts still inside the SOL? Although I suppose it's not like an aged-out debt could sue me for not notifying them. There's some decade old medical bills I'd prefer not to dredge back up. Edit: Also I'm sorry if this really isn't the right thread for this, at first it seemed like the closest fit but it's really borderline off-topic.
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Nov 7, 2014 05:40
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It's all debts... the SOL is irrelevant to a bankruptcy. Your perception of the whole thing is kinda weird. Imagine the bankruptcy as a nuke that destroys every single non-government debt that was incurred prior to your filing date. There's no picking and choosing, no "but if then" with dates. The SOL status, the amount, the account #, the creditor's name, knowing about the creditor, noticing the creditor, listing the creditor, listing the wrong creditor, listing nothing... none of that matters for dischargeable unsecured debt. Literally the only question in a typical Chapter 7 is whether or not a debt was incurred prior to your filing. So there is no dredging or redating like you're talking about. It's like you're asking how much ice cream costs 30 seconds after Hiroshima. Man, there ain't no ice cream
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Nov 7, 2014 06:30
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woozle wuzzle posted:Literally the only question in a typical Chapter 7 is whether or not a debt was incurred prior to your filing. Caveat: maxing out your credit cards and going hog wild with loan requests and then immediately declaring bankruptcy doesn't work and may actually get you criminal charges for fraud.
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Nov 7, 2014 07:05
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baquerd posted:Caveat: maxing out your credit cards and going hog wild with loan requests and then immediately declaring bankruptcy doesn't work and may actually get you criminal charges for fraud. You are correct  I overreached, in that it's not the only question.
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Nov 7, 2014 07:42
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Yeah, wait at least 90 days!
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Nov 7, 2014 09:27
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OMG, someone from a collection agency just called me and said they are going to notate my account because I told them it was over 7 years old and off my credit report, and that they can't sue me after 6 years in Ohio. I am freaking out now. They said they are going to call me back. gently caress, on the mail I get from them it says they won't sue or report to collection agencies bc of the age of the debt. Did I just reset the clock by answering their call? OMG, FML! I also told them I was going to talk to a lawyer and I know that was a real bad move.  e; i know ohio is 6 years and VA where Cap One is is 3 years, so they can't gently caress with me i think. Someone please respond soon, it is my bday and was having a fun day and looking forward to a fun night. Michael Corleone fucked around with this message at 21:58 on Nov 10, 2014 |
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Nov 10, 2014 21:45
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Michael Corleone posted:OMG, someone from a collection agency just called me and said they are going to notate my account because I told them it was over 7 years old and off my credit report, and that they can't sue me after 6 years in Ohio. I am freaking out now. They said they are going to call me back. gently caress, on the mail I get from them it says they won't sue or report to collection agencies bc of the age of the debt. Did I just reset the clock by answering their call? OMG, FML! I also told them I was going to talk to a lawyer and I know that was a real bad move. What do they mean by notating your account? It sounds like you may have admitted the debt was yours, which can reset the clock. However, I think it has to be during the initial SOL period. So if it was 1 day away from being time barred and you admitted the debt was yours it will reset the clock. I'm not sure about what happens once a debt is time barred. Hopefully somebody else will chime in. I don't know why you would say that to them though, always just deny the debt and hang up unless you want to pay it or work out a payment plan with them.
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Nov 10, 2014 22:45
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yes, i was dumb, don't know how they got my cell or why i answered. when they call again i just won't answer.
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Nov 10, 2014 22:52
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Michael Corleone posted:OMG, someone from a collection agency just called me and said they are going to notate my account because I told them it was over 7 years old and off my credit report, and that they can't sue me after 6 years in Ohio. I am freaking out now. They said they are going to call me back. gently caress, on the mail I get from them it says they won't sue or report to collection agencies bc of the age of the debt. Did I just reset the clock by answering their call? OMG, FML! I also told them I was going to talk to a lawyer and I know that was a real bad move. Calm down dude its just a scumbag DC trying to use scare tactics. What were your exact words to them? I mean, is the debt actually over 7 years old? If so they can't legally report it and if you're in ohio it's outside the SOL. Unless the account is like 6000000$ you are being way too freaked out about this.
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Nov 11, 2014 00:10
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seacat posted:Calm down dude its just a scumbag DC trying to use scare tactics. What were your exact words to them? I mean, is the debt actually over 7 years old? If so they can't legally report it and if you're in ohio it's outside the SOL. Unless the account is like 6000000$ you are being way too freaked out about this. Thanks man. It is actually over 7 years old and they can't do poo poo in OH or VA *Cap1, if they try that route. It is for like 5k but the limit was only 3k so all the rest is added on. Will not respond again, is that my best course of action? I told them the debt was 7 years old and off my report, and told them they cant sue me after 6 years. told them i was going to contact my lawyer, don't have one so told them i would not give them my number. it got p hostile actually, but i hope they can't do poo poo bc it IS 7plus years aged and off my report. I just want to tell them to gently caress off next time, so hope that is ok. e; and no, im not going to pay a nickel unless a judge makes me.
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Nov 11, 2014 00:15
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It seems that every time one of my debts get sold to a new collection agency, the "Date Opened" line for it refreshes on my credit report. This has happened a few times, so I now have debts from 2012 and 2013 showing up as from 2014. Is that strange?
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Nov 12, 2014 13:34
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Safe and Secure! posted:It seems that every time one of my debts get sold to a new collection agency, the "Date Opened" line for it refreshes on my credit report. This has happened a few times, so I now have debts from 2012 and 2013 showing up as from 2014. Is that strange? I have this going on too, I don't know what it's about or how it's even legal. I have a debt from 2011 just showed up as 2014 last month and I have literally never spoken to a collection agency in my life.
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Nov 12, 2014 19:11
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The answer is it's not legal and they don't give a gently caress.
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Nov 12, 2014 19:49
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I went to buy a car and I have four items on my credit report, and a 650. A few years ago it was 770. Three are medical and one is from a cable company, whose equipment I definitely returned. How do I even find out who these people are who I owe money to. The only call I’m getting right now is from a university debt that’s not on the report. Feel free to direct me to another post. Oh. It’s right there. Okay so I’ve got all three credit reports and I guess I’ll go to work on negotiating Pay for Deletes? agarjogger fucked around with this message at 19:16 on Nov 13, 2014 |
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Nov 13, 2014 18:48
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