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Advice on what to do?

Member

Advice on what to do?

We have a Citi 2nd mortgage, that unfortunately went to collections with Pencro.  Citi told me once we were current it revert back to them , we have been up to date and current since February 2012 .  Pencro told my hubby last month that it will never go back to Citi and  I just found out today that Citi has it as charged off on our credit report and Pencro is nowhere listed on our credit report.  Does this mean that Citi still owns the account?  The statements (if you can actually call them that) we get from Pencro don't state the last payment or when the payment posted. I have been reading the info on here for about a week trying to absorb the process of cleaning up our reports.  I am not sure how we should handle this with Cit.  Any advice would be greatly appreciated!!!!!  Thanks in advance!

 

 


Starting Score: EXP 571, TU 573, EQ 585 (lender pull 7/9/12)
Current Score: EXP 571, TU 573, EQ 585 (lender pull 7/9/12)
Goal Score: 700


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2 REPLIES
Frequent Contributor

Re: Advice on what to do?

I'm by far any kind of expert here, but I imagine that you need to talk to Citi about pulling it back from the collection agency, and changing the way they report it to the bureaus (meaning they need to start reporting as current, or whatever your agreement was..and not as a charge off.)

 

Collection agencies are sneaky, underhanded, low life sacks of you know what, so I'd be more inclined to deal with and trust in Citi.


Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660



Message 2 of 3
Member

Re: Advice on what to do?

Thanks for the info!  So should I just call and ask for pull back since we are now current (Citi is reporting current on credit report)?  Is there any other info I should be asking them?  Lastly, does anyone have a backdoor number for their Equity Line/Loan division?  The last time I called them about 5 months ago, I ended up in the recovery department and they referred me to Penncro.  I am also going to try sending my payment directly to Citi this month and see if they accept it and putting a delay on the payment to Penncro.  I was thinking if Citi accepts the payment, I would have a better chance of having them pull the account back.  We have no intention of not paying this, the economy just caught us with us and my priorty was keeping the 1st mortgage current (also Citi).  If we could get them to pull it back and change the credit report, it would be a huge help for our numbers.

 

Thanks for any info you can supply!


Starting Score: EXP 571, TU 573, EQ 585 (lender pull 7/9/12)
Current Score: EXP 571, TU 573, EQ 585 (lender pull 7/9/12)
Goal Score: 700


Take the FICO Fitness Challenge

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