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Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
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My debts weren't sent to collections... Should I not worry about them?

2 years ago I wasn't able to pay a storage unit facility and an insurance company. The insurance was cancelled soon afterwards and my storage locker privilages taken away. Well now that I'm into credit and value my good score in the mid 700's I'm worried they will report me to collections. I'm going to pay them back, but I don't even remember the name of the insurance company. Do you think if they were going to collect they would have done it by now?

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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: My debts weren't sent to collections... Should I not worry about them?

To tell the truth, that is really unknown.  You could never see anything from them, or you could have them pop up at almost anytime.  I would suggest that you watch your CRs and monitor for any new activity.  You could actively go looking to pay them, but then again, you could be poking the bear and wake them up.   


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
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KnewBee
Posts: 89
Registered: ‎10-10-2012
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Re: My debts weren't sent to collections... Should I not worry about them?

Op, I work in insurance, most insurers do not report. Only a few do. Hope that helps.

Starting Scores: 9/19/2012 EQ 613 / TU 526 / EX PLUS FAKO 563

Current Scores: EQ 642 / TU 519 / EX PLUS FAKO 610

Goal Scores: 700
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: My debts weren't sent to collections... Should I not worry about them?


Objectivist wrote:

2 years ago I wasn't able to pay a storage unit facility and an insurance company. The insurance was cancelled soon afterwards and my storage locker privilages taken away. Well now that I'm into credit and value my good score in the mid 700's I'm worried they will report me to collections. I'm going to pay them back, but I don't even remember the name of the insurance company. Do you think if they were going to collect they would have done it by now?


Well, if they were to collect, they'd usually send a dunning prior to reporting..

 

I said usually :smileywink:

 

But yeah, they still very well might try to collect, you just don't know.. I would pull my credit reports straight from the CRAs and see if there are any soft pulls that you don't recognize..

 

I wouldn't worry TOO much tho; 

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
New Contributor
KnewBee
Posts: 89
Registered: ‎10-10-2012
0

Re: My debts weren't sent to collections... Should I not worry about them?

Actually I don't think storage companies usually collect either. They normally just auction off the stored goods ala. storage wars.........

Starting Scores: 9/19/2012 EQ 613 / TU 526 / EX PLUS FAKO 563

Current Scores: EQ 642 / TU 519 / EX PLUS FAKO 610

Goal Scores: 700
Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
0

Re: My debts weren't sent to collections... Should I not worry about them?


KnewBee wrote:

Actually I don't think storage companies usually collect either. They normally just auction off the stored goods ala. storage wars.........


Yeah I heard that they needed to get a court order, however, which does report to the bureous...luckily, I took all my stuff out.

Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
0

Re: My debts weren't sent to collections... Should I not worry about them?


Shogun wrote:

To tell the truth, that is really unknown.  You could never see anything from them, or you could have them pop up at almost anytime.  I would suggest that you watch your CRs and monitor for any new activity.  You could actively go looking to pay them, but then again, you could be poking the bear and wake them up.   


Yeah you nailed my biggest fear...This is why I'm not talking to them each until I have money in hand. 

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: My debts weren't sent to collections... Should I not worry about them?

OPT OUT. This may help a JDB from easily finding you.

I opted back in a few months back to see what cc offers I'd get. Guess what I got? An OOOOLLLLDDDD utility bil (way past SOL) from AFNI. Took me a month to get it off. Boy, I was so mad at myself.
STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Valued Member
Objectivist
Posts: 55
Registered: ‎09-26-2012
0

Re: My debts weren't sent to collections... Should I not worry about them?


Booner72 wrote:
OPT OUT. This may help a JDB from easily finding you.

I opted back in a few months back to see what cc offers I'd get. Guess what I got? An OOOOLLLLDDDD utility bil (way past SOL) from AFNI. Took me a month to get it off. Boy, I was so mad at myself.

Can you explain this like I'm 5, please?

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: My debts weren't sent to collections... Should I not worry about them?

Go to www.optoutprescreen.com and opt out of pre-approved offers.  The reason to to this is because the CRAs sell the information for those that are applying for mortgages or are clearing up their reports to the CAs.  Then the CAs go sniffing around for old debts.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
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