Rebuilding Your Credit

[awoodrow]

I am trying to rebuild my credit.

I have FPB on my CR for 400$  due to come off next year.  Do you think I should pay it and ask them to re-open the account? 

I believe it is a charge-off account now.

Please advise.  Thanks.

[slyhouse08]

First Premier...has no forgiveness...I don't think they will...but you can try...First Premier has a lot of outrageous fees and stuff anyway...why don't you try HSBC...

[HappyDays]

IMO   I would not touch anything on my CR unless it was past SOL

http://www.bankrate.com/brm/news/cc/20040116b1.asp?caret=8

If you want to pay the debt & are past SOL I would use a PFD.  I only say if past SOL as they are ept to accept when they can not sue you. But if within SOL  you can still try a PFD.

[awoodrow]

OK i called them to find out exactly what I owe and they said its now handled by arrow financial (CA).  So now what sould i do ?  Still send a PFD?  If so for what amount should I offer in the PFD the full amount or 1/2?

also this is past SOL.  Its due to come off next. year

Thanks.

Message Edited by awoodrow on 05-30-2008 05:37 PM

[sidewinder]

---

awoodrow wrote:

OK i called them to find out exactly what I owe and they said its now handled by arrow financial (CA).  So now what sould i do ?  Still send a PFD?  If so for what amount should I offer in the PFD the full amount or 1/2?

also this is past SOL.  Its due to come off next. year

Thanks.

Message Edited by awoodrow on 05-30-2008 05:37 PM

---

Is Arrow Financial reporting on your reports? Have you heard from them?

You need to find out if the OC sold the account or just assigned it to them to collect on for the OC.

If they sold the account, they can't accept payment. However, if they still own the account, I'd send them a PFD.

Some state's have SOL that is longer than the 7 year CRTP. Just want to point out that just because it is due to fall off doesn't make it past SOL. Not sure what state you are in, but wanted to make sure you understood that part.

[awoodrow]

When i called they said they no longer own the account but they still will report paid if I pay the CA.  The CA is now owned by someone else rather than arrow financial.  I am trying to find out by who now.

[ByrdMan]

Past SOL, DV whoever supposedly owns the account now.

[slyhouse08]

You need to find out if the account was sold...or assigned to the CA...is the CA reporting on your reports???....if not.I would pay them....BEFORE..they reports....have you received a letter from them???....and if the account was sold to the CA...First Premier...MUST show a $0 balance...

[awoodrow]

Hi Byrdman... Can I still DV them even though First Premeir Bank knows I own it?  They are still the ones reporting on my CR.

And yes its past SOL.

Thanks for your help!

[ByrdMan]

Is First Premier the only one reporting? If someone else truly owns the account and they are not reporting, you would be best served to PFD, making sure that you state in the letter that they will cease reporting (delete), if they have reported and will not report, if they have not yet reported.

It just seems like you are having trouble figuring out who in the world owns this debt.

That's why I would start off by DVing which ever CA just contacted me. Usually, if it's just assigned, they will give it back to the owner, as they don't have time for a losing proposition.

You have nothing to lose by DVing the CA, if they are on your reports.