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Member
Posts: 6
Registered: ‎07-05-2009
0

Cash Call Inc.

Cash Call Inc. is a lender that makes unsecured cash loans to borrowers. Currently appearing on my CR as follows:

 

Status:
Account charged off. $5,855 written off. $498 past due as of Jan 2010.
 
 

Date Opened:
11/2005
Date of Status:
01/2010
Reported Since:
12/2005
Last Reported Date:
01/2010

Type:
Unsecured
Terms:
120 Months 
Monthly Payment:
$0
Responsibility:
Individual 

Credit Limit:
$5,075
High Balance:
N/A 
Recent Balance:
$5,855
Recent Payment:
$0

Where do I start to get this off my CR, I'm in California?

Moderator
Posts: 13,897
Registered: ‎04-15-2011
0

Re: Cash Call Inc.

I take it this account is still unpaid?  When did you stop paying it.  What is the DOFD of the account?

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!
Epic Contributor
Posts: 21,557
Registered: ‎03-19-2007
0

Re: Cash Call Inc.

Paid or unpaid, they reported that they took an internal accounting measure on a delinquent debt, moving it from an asset to an uncollectilbe debt on their books.

The reporting of a charge-off is not deleted based on subsequent actions on the account, such as payment.

 

Removal of a charge-off can be pursued if the debt was not delinquent at the time they took that accounting measure.  Otherwise, it would be accurate, and thus there are no means under the FCRA for asserting deletion. 

 

Request to the creditor for their good-will deletion would be the remaining course.  If the debt remains unpaid, that is unlikely to occur.

Highlighted
Member
Posts: 6
Registered: ‎07-05-2009
0

Re: Cash Call Inc.

According to Experian the account is scheduled to continue on record until June 2016. My purpose of cleaning up my credit is so that I can purchase a home in late 2013. What should my first step be in getting this rectified?

Moderator
Posts: 13,897
Registered: ‎04-15-2011
0

Re: Cash Call Inc.

If you're going for a mortgage, this will more than likely have to be paid.  Have you thought about trying a PFD?

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!
Member
Posts: 6
Registered: ‎07-05-2009
0

Re: Cash Call Inc.

Haven't considered PFD, I'd be more open to settling. Any thoughts on settling vs. PFD?

Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
0

Re: Cash Call Inc.

Settling at least closes an open debt that would be a big hurdle in trying to get a mortgage.  PFD increases your score, removes the black mark entirely, and depending on your credit profile as a whole, may make or break your mortgage.  At the very least it may put you up another tier for a better interest rate, again depending on the rest of your profile.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
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  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
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