Tricky business with CAs they will try to reset the clock. Key point in making any payment arrangement is never acknowledge it was your bill. Depending on your state some of these actions could restart the clock which looks like what they have done.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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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!
June 2017 update: All scores over 820, just pure gardening now.
@Anonymous wrote:
Hi! I'm new to credit recovery and I'm looking for some advice. My wife and I are trying to build a house and will be applying for a mortgage soon. I currently have 3 accounts in collection. All 3 are old credit cards. We reside in Florida.
Account 1: $927 with 12/2005 as date of 1st delinquent with Midland Funding.
Account 2: $3,286 with 03/2006 as date of 1st delinquent with LVNV Funding.
Account 3: $12,196 with 6/2003* as date of 1st delinquent with Asset Acceptance.
There are two issues I need advice on.
1. Due to these items my Credit Score with Equifax is 598, which is low for a mortgage loan. If I pay (Full Amount or Settlement) I think my credit will go down further due to the date of activity on the collection changing to recent. Am I better off applying for a mortgage with these items on the report or paying them off first? Should I try PFD letters?
2. Account 3 with Asset Acceptance should have been gone from my in 2010 but in my ignorance I messed up. I was served Notice to Appear in court with them in 2008. I didn't know that the SOL was up on the debt and made 1 payment to them to stop the court date. If I would have taken the time to visit this site I could have went to court and had it dismissed. How should I handle this situation?
Any help is greatly appreciated! Thank you do much!
As for the other accounts, here is what I would do.
1) Offer them a small amount for a pfd, maybe $100 or so, if they don't accept, just wait a little bit, it'll fall off.
2) See #1
Both of these are quickly approaching the fall off dates. They are past SOL and going to naturally fall off.
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!
June 2017 update: All scores over 820, just pure gardening now.
@llecs wrote:
@Anonymous wrote:
I am just worried that I did something in 2008 to somehow renew the debt. I do not remember signing anything though. It was all done over the phone.Absolutely nothing you can do or anything the CA can legally do to cause the account to report longer than 7 years. A payment can never ever cause a CA to report longer than the 7.
This is absolutely true. They have tried to reset the clock. Do you have an old CR with the original DOFD from the OC?
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!
June 2017 update: All scores over 820, just pure gardening now.
Although it's not timely, and some may disagree. You could send it. A DV does have some punch to it. You may also be getting to something I reserve to the last point is a dispute with the CRA. That would make them do an investigation as to the status of the debt.
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!
June 2017 update: All scores over 820, just pure gardening now.
You can do that route too.
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!
June 2017 update: All scores over 820, just pure gardening now.