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So, i'm very new to this 'caring about credit' thing... and yes I'm ashamed of not caring until now.
Anyways, on my Experian report, EOS CCA has a balance for me of around $800. I have no idea what it is, or anything like that. It also says the account is 'Potentially Negative Closed'.
The reason I am posting is because I see a lot of threads with this company, and a lot of success stories... can I do anything to help myself here?
Read through the threads, it may take digging.
that's kind of exactly what I was thinking.... I feel out of the loop
The one person that I know has the contact, I haven't seen him on in a little while.
There isn't going to be any information in the thread itself, it is all PM'd. If you find anyone he sent it to PM them and see if they respond.
So if its a valid debt reporting I will have to pay it off first right? Or do they sometimes just close it off just to get rid of it?
I'm really very new to this all, and I'm very confused as to how it all works, and what the tricks are. Should I just wait 7 years for it to drop off?
I am not sure of the process that was used for this particular CA.
But, in general, if it is a valid debt, yes it needs to be paid. You can offer them a Pay for Delete. You pay, they delete. Or pay it then send GW letters asking for the TL to be removed.
Sometimes, after no success in collections attempts, the CA will return the debt to the OC and they must then delete the TL, based on the credit reporting guide. The OC would then assign or sale the debt to another CA.
Even if you waited 7 years for it to drop off your report, it would still be a debt that was owed. Collections don't go away, they can attempt to collect forever.
Now that is something good to know, the 7 year rule doesn't really help.
Thank you for your replies and thank you for the link to common abbreviations. I'm checking it with every post because I'm so lost lol.
You can post a pic of the account you need help with and someone will help you.
When did the account go delinquent? What is your state SOL for suing?