10-25-2012 08:57 PM
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.
10-25-2012 10:25 PM
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.