Need advice about paying CA(s) for past CC bills

[Anonymous]

Hi All,

I have two CC accts on my credit report.  One was through First Premier (Arrow Financial --> Northland) and the other with Applied Bank (Vision Financial).  Both accts have been CO'd and sent to CAs (although the Applied Bank account still reports a balance).  The CAs are not reporting at this point.  I have contacted the OCs in an attempt to PIF but they won't accept payment.  Both have referred me to their CA.  I have yet to contact either CA.   

The question that I have is this: should I pay the CAs knowing that the acct(s) will remain on my CR until 11/2011 and face the possibility of the CA reporting or should I leave them alone?

Please advise...

[Anonymous]

If the CRTP is 2011 then the DOFD would be in 2004. What is your SOL?

Always keep hard copies of all CR that have the OC reporting!

Message Edited by HappyDays on 07-07-2009 09:10 AM

[Anonymous]

SOL is 4 yrs in TX.

[Anonymous]

When an OC reports a Bal $ something then they own the account. If they report a Bal $ 0 then they sold it.

If the CA is not reporting then I would leave it alone until they do. You are well past SOL so they can not win in a lawsuit. Also it is easier to PFD if they start reporting when past SOL.

If they contact you by phone tell them to mail you a letter. When you receive the letter then you mail them a DV   CMRRR.

Make sure the they are licensed and bonded in Tx.  If they are and the answer the DV.....you would mail a PFD.

[Anonymous]

Thanks for the excellent info, Happy Days!  I appreciate it..

With regard to the Applied Bank OC acct, here is what is listed on my CR:

Balance: $995
Date Updated: 08/2007
High Balance: $995
Credit Limit: $500
Past Due: >$995<
Pay Status: >Charged Off as Bad Debt<
Account Type: Revolving Account
Responsibility: Individual Account
Date Opened: 11/2004
Date Closed: 07/2005
Loan Type: Credit Card
Remark: >Profit and loss writeoff<
Estimated date that this item will be removed: 12/2011

Do you think I should call them again to PIF or PFD?  I really would like this item removed if possible...

Again, thanks for the info.  

[Anonymous]

Mail them a PFD   CMRRR (just so that you know that it was received.  In the PFD make sure that you tell them that they will pull it from any CA if the assigned one. and that they would deleted their reporting. If they do not want to delete the reporting then you want it to read *Paid as agreed*

Usually a PFD is not sent CMRRR but I would want to know that they received it. Mail it to the addy on your CR not where payments go.

Also include that you are past SOL.

Message Edited by HappyDays on 07-07-2009 09:33 AM

Message Edited by HappyDays on 07-07-2009 09:45 AM

[Anonymous]

Thanks HappyDays!  I'll draft the letter ASAP!!