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Greetings! This is my first post to the forum and I am so happy to have stumbled upon a community with such a wealth of collective knowledge!
I am trying to rebuild my credit after losing my job back in late 2010. I have a broken apartment lease (2646.99 Hunter Warfield), and the rest of my credit cards are charge-offs: Chase (1588.00 currently paying 25 a month to Associated Recovery Services), Ikea (366.00 CACH is reporting it as a collection account and IKEA is showing it as a charge off on my credit report), WalMart (1404.00 been offered a settlement in full offer of 561.00 from Allied Interstate Collections), Macys (810.00 Omni Collection Agency) CareCredit (3500 [original amount owed was 1600 but the rest is now interest] Portfolio Recovery Collections), CashCentral Payday Loan (516.00) and CashNetUSA Payday Loan (1500.00 even though I really owe them 1000.00)
Long story short, I am currently paying small hardship amounts to ARS for my Chase account and I am not sure how to proceed with the rest. I have already sent cease and desist letters so they don't call anymore and all of the amounts have been verified. I don't have much money so I guess that's why I'm trying to figure out what to do before I get slammed with a judgment
Please help
Hello and welcome to the Forums!
You've come to the right place for help. Something caught my attention in your post. You sent cease and desist letters letters to verified accounts that are more than likely still within SOL? That will automatically put it to legal and they will take you to court.
@Chrysanthemum119 wrote:Greetings! This is my first post to the forum and I am so happy to have stumbled upon a community with such a wealth of collective knowledge!
I am trying to rebuild my credit after losing my job back in late 2010. I have a broken apartment lease (2646.99 Hunter Warfield), and the rest of my credit cards are charge-offs: Chase (1588.00 currently paying 25 a month to Associated Recovery Services), Ikea (366.00 CACH is reporting it as a collection account and IKEA is showing it as a charge off on my credit report), WalMart (1404.00 been offered a settlement in full offer of 561.00 from Allied Interstate Collections), Macys (810.00 Omni Collection Agency) CareCredit (3500 [original amount owed was 1600 but the rest is now interest] Portfolio Recovery Collections), CashCentral Payday Loan (516.00) and CashNetUSA Payday Loan (1500.00 even though I really owe them 1000.00)
Long story short, I am currently paying small hardship amounts to ARS for my Chase account and I am not sure how to proceed with the rest. I have already sent cease and desist letters so they don't call anymore and all of the amounts have been verified. I don't have much money so I guess that's why I'm trying to figure out what to do before I get slammed with a judgment
Please help
I am not sure what happened with the apartment issue, however you should check your lease very carefully and your states Tenant Landord Act to see what apt/Landlords can and cannot do, and what your rights are, every state has a statuate of limitations. You might be able to get either the balance lessen or deleted from your credit report if you can prove the landlord violated their own lease. I did that with mine and last month the collection agency took it off of all 3 reports. Since you are on a imited income I would concentrate on IKEA first since that balance is the smallest. You might be able to do a goodwill letter and settle the balance with IKEA . Of course to be honest everything is a sacrafice. PayDay loans to me are considered predatory lending. I dont know much about them, but hopefuly someone with a bit of knowledge posts. Best of Luck.
Thanks for your reply!
To clarify, the cease and desist letters were only sent to the collection agencies that called me day and night. I sent cease and desists BEFORE I verified the accounts. The original creditors have charged off and won't deal with me directly so now it's left in the hands of the collection agencies. I'm still within SOL for all of them since they charged-off in early 2011 and I'm in South Carolina. Just trying to figure out my next step...
Greetings! Thank you for the apartment lease info. Unfortunately, my lease clearly stated that if I broke my lease I would be charged a specified amount. I would like to see if I can get the complex to pull it back from Hunter Warfield in order to settle the debt but I'm afraid of what "settled in full" might look like on my credit report in the long run.
Doesn't matter. People break leases al the time. I broke my lease as well but in my own situation I was forced to due to landlord violations. Like I said before check your states Tenant Landlord Act very carefully and your lease. Trying to give you advice.
I hear ya. Trust me, I do appreciate your advice. I'm new to this so I'm just trying to understand my options and heed some suggestions. I will look into the Tenant Landlord Act. Thanks again for replying!
It has been a while since I've posted to this thread. Wondering if anyone can offer some advice on how to tackle my charge-offs listed in my original post. Don't have lots of money but I need to pay these off so I can rebuild my credit. All debt has been validated, just need some help on figuring out where to start (amount of payments, who to pay first, etc..)