@Anonymous wrote:Last year my fiance and I were on a great credit rebuilding journey. But fell off due to a job loss. The result ended in several Comenity bank and Capital One accounts closing.
With Comenity, we missed the payment on one card which caused several other cards to close. That account had been open for about 4 or 5 months at that point.
We also missed capital one secured card payments. Up until they closed it and now it just got sold to a collection agency. I just called capital one this week to try to set up payment arrangements and they transferred me to the collection agency. It's not yet reporting on our credit report. I just moved so I'm not even sure if I'll get a letter.
Now, with Comenity.. 2 accounts had already been sold to a collection company again they JUST got those accounts this week. When I spoke with them it took a while for them to pull them up. Again, I have yet to receive any letters. They gave me a verbal "letter" over the phone and told me I had 30 days to dispute. The other 2 accounts are closed but Comenity still has them.. I am making payments on them with hopes that it can stay with Comenity and I just pay them in full by the end of the year.
I have Comenity accounts under my name that have lates but are still open. BUT I have 2 capital one cards that are recently closed. They are still with Capital One and I was told that as long as I'm making payments on them, they will not be sold to a Collection agency.
I need help! How many years did we set ourselves back? What should I do with these collection accounts that are not yet reporting?
Should I try to settle with the Collection agencies that are not yet reporting and ask them if they won't report if I can pay them off within 30 days?
I still have Those two open comenity accounts on my credit (reporting as an AU on his) But he has nothing open. Should we attempt to open a secured card for him so he can at least have that? Should I worry about paying off those debts first AND then open a secured card? I'm just so confused and disappointed.
Welcome to the board 
To avoid reporting of the collections you want to make agreement with the CAs for full payment in exchange for them not reporting the collection. What has happened is not the end of the world, I would just settle the collections as I have said, remove your account from him (AU) you only want good AUs to report, if it just reports as terminated then he would dispute to get it removed as "Not my responsibility was only an AU". Paying your problems off first in this case would trump opening a secured card prior to.
