I pulled my boyfriend's report from Equifax today. He has 4 charge offs:
Capital One $4915 DOFD 10/09
Discover $6431 DOFD 6/09
Sun Trust $18,541 DOFD 3/10 HELOC
Truliant $6216 DOFD 5/10 (repo'd car)
They are all still showing a balance and there doesn't seem to be any CA activity. The SOL on CC debt is 3 years. Interesting enough, his Length of history is 2005 years, 4 months lol. Anyway, I'm thinking we should approach Cap1 and Discover about a repayment plan before they get sold and collections show up. Currently he has one collection with a cable company. We have paid that balance to reinstate the service so I'm hoping we will be able to get that removed. Is that a sound plan? I'm at a loss for the HELOC and the repo. Aside from the accounts above, he has 9 other accounts with a flawless history of payment. No current, revolving debt. Any direction would be appreciated.
I'd go ahead and see if he can pay Cap1 and Discover. You can be assured there will be a CA coming after those. The other 2 are pretty big too. He's gonna have to do something about those, I can see a judgment coming in his future for those large amounts.
Starting Score: 504 July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013 Goal Score: All Scores 760+, Newest goal 800+ Take the myFICO Fitness Challenge Current scores after adding $81K in CLs and 2 new cars since July 2013 EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.