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I have three baddies that are reporting as $0 balance. There are no CA reporting or pursuing these, as they're all outside SOL and minimis claims:
Cap 1: 180 days late, Closed 10/08, purchased by another lender.
HSBC: Chargeoff as of 04/11, purchased by another lender. Closed written off. No payment history reported.
HSBC Bank Nevada: Chargeoff as of 01/09, purchased by another lender. Closed written off. No payment history reported.
I've been advised previously to pursue GW on these, but I'd appreciate thoughts as to how best to state my case. Until the economy fell apart in mid- to late-2008, I was current on all these accounts. Which is saying, "Until things got bad, I was good."
These are holding me back from re-building effectively, and represent the lowest-hanging baddie fruit on my tree.
Thank you.
@lahtiji wrote:I have three baddies that are reporting as $0 balance. There are no CA reporting or pursuing these, as they're all outside SOL and minimis claims:
Cap 1: 180 days late, Closed 10/08, purchased by another lender.
HSBC: Chargeoff as of 04/11, purchased by another lender. Closed written off. No payment history reported.
HSBC Bank Nevada: Chargeoff as of 01/09, purchased by another lender. Closed written off. No payment history reported.
I've been advised previously to pursue GW on these, but I'd appreciate thoughts as to how best to state my case. Until the economy fell apart in mid- to late-2008, I was current on all these accounts. Which is saying, "Until things got bad, I was good."
These are holding me back from re-building effectively, and represent the lowest-hanging baddie fruit on my tree.
Thank you.
I wouldn't consider these the 'lowest hanging' baddie... CO's can be a big big pain to remove in general, because you have no bargining. HSBC in general is a huge huge HUGE pain.. it took me well over 50 GWs letters before I finally saw it removed.. and I actually disputed it several times too ( i know i know, frivalous, not recommended yada yada but I was desperate haha)
Plus all THREE goodwills would be Cap 1 now -- soooo I mean, its a real crapshoot
-scott
Thanks for the response.
I don't mean to make light of any of this, by "lowest hanging," I simply meant they're the smallest dollar amounts and that they aren't reporting a balance.
In some sense, maybe all 3 being Cap 1 accounts means it's easier to send a letter every week to one address for all three than three letters every week.
COs, reporting a 0 balance, still affect your score. They are major derogatories and will hurt for almost the entire 7 years. You can try GW for deletion but they may not budge. Keep trying.
The one from 04/11 is more than likely inside your states suing SOL, it's not even 2 years old yet.
The CO date is 4/11, but the DOFD is February 2008.
@guiness56 wrote:COs, reporting a 0 balance, still affect your score. They are major derogatories and will hurt for almost the entire 7 years. You can try GW for deletion but they may not budge. Keep trying.
The one from 04/11 is more than likely inside your states suing SOL, it's not even 2 years old yet.
Although since they charged it off, the suit would come from the party that purchased the debt, and not HSBC but a very solid catch there..
-scott
That makes no sense. Your DoFD is based on the date you first became late and never brought the account current again, leading to the CO or collection.
@guiness56 wrote:That makes no sense. Your DoFD is based on the date you first became late and never brought the account current again, leading to the CO or collection.
Ya know what I think it might be... charged off AS 4/11 -- meaning that was the last time it reported maybe???
-scott
That could be. I would need to see the TL to verify.
@guiness56 wrote:That makes no sense. Your DoFD is based on the date you first became late and never brought the account current again, leading to the CO or collection.
What makes no sense, my calculation of the SOL, or the fact that they're reporting a CO post DoFD?