Charge off question

[Anonymous]

Can I ask how one website had me at 553 and this one at 630? They are so different how do I know that the higher one is right? 

Thanks for all your advice. I need to get these letters sent off asap. 

[MarineVietVet]

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@Anonymous wrote:

Can I ask how one website had me at 553 and this one at 630? They are so different how do I know that the higher one is right? 

Thanks for all your advice. I need to get these letters sent off asap. 

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If you'll re-read messages #6 and #15 of this thread I addressed some of that. The score from the EX website is NOT an EX FIO score and needs to be ignored. The score you got from myFICO is an EQ FICO score and is accurate.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@MarineVietVet wrote:

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@sisco wrote:

And the OC (Original Creditor) could sell this to a CA (Collection Agency) for collection which would be an additional negative entry.

MarineVietVet,

Regarding the above statement, can accounts that were IIB be sold by the OC to a CA after the BK is discharged?

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Hi there.

My BK was many years ago and I'm certainly no expert on current laws but IMO this could not (legally) happen. Accounts IIB are just that. They are all supposed to be taken care of by the BK. But wait for others with more knowledge to confirm that. As a matter of fact I will PM a member who is up on all this and ask them to comment.

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I agree with MVV -  the BK satisfies the debt to the degree indicated in your BK.  If the BK indicates that debt is fully satisfied, then there is no remaining debt for the OC to sell to a CA.  And if an OC whose debt was fully satisfied in a BK chose to sell a non-existing debt to a CA, a quick letter noting that they are in violation of the terms of the BK and are subject to legal action should put a quick end to the problem. 

Now if the original debt were not specifically listed in the BK, then the debt is (of course) not satisfied. 

Or if the debt were not fully satisfied in the BK (sometimes occurs in a CH 13 for certain types of accounts) then you're still responsible for whatever balance the BK determines is due the OC.  In an attempt to make this more clear:  i.e. a student loan may be paid as part of the BK, but the balance (and sometimes fees!) will still be valid and due after the BK is properly discharged.  I suppose if the creditor were to be late on the remaining balance, the OC could sell the balance to a CA.

So the easy answer is that once a BK satisfies 100% of a debt (which is in most cases), it cannot be sold to a CA.

Sorry for way too many words on this one. 

[sobreezy]

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@Anonymous wrote:

Can I ask how one website had me at 553 and this one at 630? They are so different how do I know that the higher one is right? 

Thanks for all your advice. I need to get these letters sent off asap. 

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The way that all your information is calculated on those other sites are totally different in comparison to how myFICO does it.  So as previously stated just ignore those wacky scores and focus on improving that beautiful 630

+1 Did you find any fax numbers for any of your CAs.  I've found that faxing them has been extremely effective. Again faxing may not be the best for all but could cut down on trips to Post Office and on walking...ahh laziness.

[Anonymous]

I'm so excited that my score is 630. I didn't actually look for faxes I just went through and got the mailing addresses. 

When I send these letters, will they respond either way? I had 4 student loans with the same company and they are all reporting late 120 days from years ago. The balance has all been paid for awhile now. If I could get them to stop reporting late on 4 accounts that would be a big step. 

[sobreezy]

Yeah I've gotten responses from faxes and from mail that I've sent so you should be good either way. 

[Anonymous]

Sweet. Well I have my letter typed up and ready to send in. If i can get them to remove the late reporting of 120+ days on 4 accounts that seems like it would help so much. Would you agree?

Also, My wife has outstanding credit like 760, If she were to add me as an Authorized User on a few of her accounts, would this help also? Thanks. 

[sobreezy]

Yes getting those off will help, try to focus on the most recent accts unless you are doing PFDs.  Because the accts that are most recent have the most impact on your scores.  Oh awesome if your DW wouldn't mind adding you to 1 or 2 of her good standing CCs then it will definitely help you.  I couldn't focus on working on 1 acct at a time so I did everything all at once, I sent out GWs, PFDs, DVs, everything.  It works just got to put forth a ton of effort and have some patience.  Keep us posted on your success!

[Anonymous]

I will keep you posted for sure. I got the GW sent in to my student loan lender today. I will be sending more of those at the beginning of next week also. She wouldn't mind for sure,we're doing all we can to get my score up.

Thanks for the advice I really appreciate it.

[LIGHTNIN]

When your DW adds your as a AU, try for the one that is the oldest CC account.

That way it will help with your AAoA(Average Age of Accounts).

Oh, of course make sure the CC doesnt have any late payments on it, but with her 

high CS she probablly doesnt have any lates.