Okay, this is my first post and I have been pouring over my credit report for days, have even gone
through tons of very old paperwork. So, here goes,
in your post you state
["Collection accounts: Remain seven years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked "paid collection" on the credit report.
Charged-off accounts: Remain seven years from the date of the initial missed payment that led to the charge off (the original delinquency date), even if payments are later made on the charged-off account.]
Here is my situation and question...........
I have a Cap1 card opened 4/2000, I called TU yesterday to get the DOFD and I was given 3/02, but....
in my paperwork I have a letter from a CA dated 1/02 -- The original balance before they started adding the late fees and everything else was @ $400 - now it is around $2,500. I requested the account be closed in early 01, but they refused saying they would only close it when the balance was
zero.
question 1 -- how can the DOFD be 3/02 if I have a collection ltr dated 1/02?
question 2 -- Is this an example of re-aging?
question 3 -- Does it matter if a payment was made after I received the CL?
question 4 -- Does it matter that the payment made after receiving the CL was through a DMP.
They only received @ 4 pymts in early 02 totalling @ $80 --
I have never admitted that I owe this amount and it was disputed through a credit repair agency back in 2003, but it always remained. I have never answered or responded to CL ltrs or CA phone calls. Using my knowledge from many years ago when I was a BK paralegal, I was pretty confident that they could not really do anything about it. Anything that I own is owned jointly with my husband and I believe, if the laws haven't changed, would be protected under entireties property.
Anywhoo, I'm totally confused as to what to do, if it is re-aging, so my next question is.......
question 5 -- What next?
ALSO..............now that I may have your attention, I have another question/idea
question 6 -- On the score simulator, for those of us trying to improve our scores, why do they
not have a section to simulate what might happen if you have a derog acct age off
or a BK age off, or a CO age off - that would be neat, wouldn't it?
AND ONE MORE, In researching for improving our scores, I realized that our Mtg acct is not listed on
my credit report. I went bk through my files from when we purchased our home 15 yrs ago and found
that it appears they only used my husband's credit and not mine. I signed on much of the paperwork pertaining to the loan as co-borrower and am on the Deed of Trust and the general warranty deed.
question 7 -- does this make any sense? just curious, cause I was planning to add it bk to my CR when I noticed that on my DH CR the mtg is listed as "individual".
which leads me to
question 8 --- My DH scores are already high enough, and mine are almost high enough, we plan to apply for a HELOC, can this HELOC be in his name only also? We have a 2nd mtg and it is joint. Just curious.
question 9 --- what's the thing about consumer finance companies? I had no idea that it could be a negative if you pick the wrong lender and you know the pickins are slim when your credit is not in good shape. But here is the thing, you somehow find yourself with bad credit but are able to find someone who will loan you money, you pay the higher interest rate, and you pay it on time faithfully for years and it is reporting positively and then you get punished because your lender is looked upon as unfavorable, so that's dbl punishment, and actually it's triple punishment because if we have bad credit, we are also enduring the 7 year waiting period on the delinquent accts that got us in this shape and during that time we must pay higher interest and suffer for our mistakes whether they were stupidity or bad luck - I call that "kick 'em when their down". I'm not complaining, I'm just saying.....
our 2nd mtg is w/a consumer finance co. and they just recently closed their office - so now our acct is being svcd by another consumer finance co (which we had no control over) ..........and then their were two............how do you even know if a company is a consumer finance company? when i want a loan, i don't really care who does it, i just care about the terms and getting it done.
anyway, I have taken up enough time and space for this first posting. I appreciate all the helpful info in the forums. I think you all do a GREAT job! Thanks for letting me rant.