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You can definitely start repairing.
First, here is a list of the common abbreviations that are used here:
I could be wrong, but I think that the OP was suggesting that you post a list of the collections so that suggestions can be offered.
Yes, I would be VERY careful regarding the high dollar ones. What I would do is Dispute (with the CRA) ONLY things that are NOT yours (and not with a CA that also has a high dollar item as well) at this point. The smaller amounts that you can afford to pay, contact the CA's or OC's as appropriate and ask for a PFD.
okay so here are my accounts i am financially stable to handle all the little ones. So i would like to know what to do with those. Should i still get some secured credit cards or should i hold off and wait. These are from Transunion.
Curacao CO..... $412.00 Last payment made 08/11/2013
Honda financial..... 3 late payments.... Balance paid in full through refinance with cosigner on 09/02/2014
Partners Federal Credit Union Credit Card CO.... $698.00.... last payment recieved 06/17/2013
Partners Federal Credit Union Line of Credit CO.... $483.00.... last payment recieved 06/17/2013
The Home Depot CBNA CO.... $3861.00 .... last payment recieved 11/21/2013 ( IVE NEVER HEARD OF THIS ACCOUNT NEVER HAD A CARD WITH THEM)
Verizon Wireless CO.... $1203.00 .... last payment recieved 08/31/2014
AD Astra Recovery CO.... $315.00.... OC Speedy Cash.... Last payment recieved 03/01/2014
Credit Collection Services.... $172.00.... Last payment recieved 04/09/2014 (IVE NEVER HEARD OF THIS ACCOUNT EITHER)
Duringer Law Group.... OC Heritage Pointe Apartments.... $3,563.00.... Last payment recieved 04/22/2013
Enhanced Recovery Company.... OC ATT..... $487.00.... Last payment Recieved 07/13/2014
IC System Collections...OC ATT.... $256.00.... Last payment recieved 08/23/2014
Ive had all these accounts way before 2014 so its wierd that most report this year. Where should i start i would like to handle all the ones under 1000 then gor from there
thank you.
@Burned2manybridgesB4 wrote:
@Anonymous wrote:I havnt been sued yet but i dont know where to start i have a lot of collection accounts and i honestly dont know where to start. I know im still within the statue of limitations on all of them so i am terrified. Should i send goodwill letters first, or send pay for deltions or validation letters. Also should i get three secured credit lines or should i wait? what strategy should i persue.
Don't send anything, or communicate with anyone until....
You get your SOL established, and confirm the DOFD's on the OC accounts.
I'm curious to know how far away you are to SOL, and CRTP.
+1 Really good info B2MBB4 Thanks!
@Anonymous wrote:okay so here are my accounts i am financially stable to handle all the little ones. So i would like to know what to do with those. Should i still get some secured credit cards or should i hold off and wait. These are from Transunion.
Curacao CO..... $412.00 Last payment made 08/11/2013Honda financial..... 3 late payments.... Balance paid in full through refinance with cosigner on 09/02/2014
Partners Federal Credit Union Credit Card CO.... $698.00.... last payment recieved 06/17/2013
Partners Federal Credit Union Line of Credit CO.... $483.00.... last payment recieved 06/17/2013
The Home Depot CBNA CO.... $3861.00 .... last payment recieved 11/21/2013 ( IVE NEVER HEARD OF THIS ACCOUNT NEVER HAD A CARD WITH THEM)
Verizon Wireless CO.... $1203.00 .... last payment recieved 08/31/2014
AD Astra Recovery CO.... $315.00.... OC Speedy Cash.... Last payment recieved 03/01/2014
Credit Collection Services.... $172.00.... Last payment recieved 04/09/2014 (IVE NEVER HEARD OF THIS ACCOUNT EITHER)
Duringer Law Group.... OC Heritage Pointe Apartments.... $3,563.00.... Last payment recieved 04/22/2013
Enhanced Recovery Company.... OC ATT..... $487.00.... Last payment Recieved 07/13/2014
IC System Collections...OC ATT.... $256.00.... Last payment recieved 08/23/2014
Ive had all these accounts way before 2014 so its wierd that most report this year. Where should i start i would like to handle all the ones under 1000 then gor from therethank you.
Not insurmountable even if you are within the SOL. If it were me...the 2 accounts that you think are not yours, I'd send in a DV letter which requests more detailed information. If it's definitely not yours, file the police report, theft affadavit, etc. It looks like you've identified the OC on the rest of the accounts, are they yours and do you believe the balances are accurate? If so, I'd do a little research on each of the CAs to see how likely they are to accept a PFD with the caveat of not offering a PFD unless you can actually pay it in full. The most likely one to sue you is the apartment collections since it's the largest amount and a law firm is handling it, I wouldn't poke them unless you are ready to negotiate a PFD or settlement offer. You should be prepared that once you start resolving these collections that more might pop up or the others on the list will start trying to contact you to demand payment. Once you've made some headway on the collections, I'd start a GW campaign with Honda.
Make sure you pay your refinanced car note on time, every time. Do you have any other positive open TLs?
@seruby wrote:
I would not take the bankruptcy route only because they stay on your report for 10 years (2.5 years longer than any negative is allowed to stay on), It may be possible to get it removed early, but why go down that path if it's not necessary.
It's much easier, and it will probably be suggested here, if you get proof of the debts, then offer PFD letters to the OCs or COs reporting. This way, you pay them, they delete the tradeline, and your score improves. That's a general overall suggestion for most cases.
10 years would be Ch 7 which is total liquidation... i.e the easy way out. A completed Ch 13 plan is 7 years from filing date.
I filed 4/2009, discharged 5/2013 and CRs will be clear of public record and IIB accounts no later than 4/2016... Or sooner with early deletion. Rebuilding has been easy and I haven't had to send a single goodwill letter or PFD to creditors who may or may not cooperate.
This path hasn't been all that bad actually. I lost my job in the recession and don't regret going this route.
@Anonymous wrote:
The thing is i dont want to loose my car specially since its with a cosigner
Not sure if you are talking to me but I filed Ch 13 and kept my car.
For the record I am not suggesting BR I'm just saying that a Ch 13 payment plan worked for me and rebuilding hasn't been difficult.