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Hi everyone,
I have been working hard over the past 2 years paying off any negative information on my credit report. My equiifax is now at a 655. I have one negative collection currently on my credit from 2008 but wasn't reported until 2010. It is for $9919 to Avalon Bay( signed my name to a lease for my bf at the time and he never paid....BIG MISTAKE I know) The account is currently at Fair Collections & Outsourcing and I have contacted them to try to set up a payment arangement. They informed me that they did NOT purchase the account from Avalon Bay so they can only agree to the terms set my Avalon Bay and would only accept a payment of $6500 and would report the account as settled. My question is would it be in my best interest to have this account show as settled on my credit report and by paying this debt would it help improve my score at all? I do not want to pay $6500 and than have my score go down. Any advice would be greatly appreciated! THANK YOU!!
-Ash
Thanks for your response. Unforunately I asked if they would do a PFD and they said they wouldnt. I was under the impression that it would fall off next year since the date of first deliquent was 2008 but the collection agency told me it went by the date that it was first reported so it would remain until 2017. I'm sure they would say anything to try to receive payment. I am trying to rent an apartment and have been denied because this is showing unpaid.
@Ash85 wrote:Thanks for your response. Unforunately I asked if they would do a PFD and they said they wouldnt. I was under the impression that it would fall off next year since the date of first deliquent was 2008 but the collection agency told me it went by the date that it was first reported so it would remain until 2017. I'm sure they would say anything to try to receive payment. I am trying to rent an apartment and have been denied because this is showing unpaid.
The collection company lied to you. Did I say that bluntly enough. Yes, they lied. When it reported has absolutely nothing to do with the CRTP. It went bad in 2008, that started the clock. If it is past the SOL, I'd offer them less than $1000 for the PFD. If they give you grief over the fall off date, I'd file a CFPB complaint and then send them an Intent to Sue Letter. Go down to your local courthouse and file a small claim suit for $1000 for FCRA violations.
Wow I can't say I am surprised! I have even tried disputing it with experian, equifax, and transunion they all have the date listed as 2010 and had no luck. I'm sorry what exacly is a CFPB letter? Im going to reach out to the orginal creditor Avalon Bay today and see if that gets me anywhere. Thnx!
The DoFD is set by the OC, never the CA. It is when the account went in arrears and was never brought current. Now you say it first went delinquent in 2008, was it ever brought current? Did you make payments after that date? If you did, then that could change the DoFD. If you didn't then the DoFD would be set to 2008.