Old Debt and Medical

[Mellochick]

Ok so I have a tricky situation. 6 years ago I took out a credit card for an engagement ring (dumb I know) but anyways, the OC was on my report up until this past year. Now on my report shows Midland Funding as a new account in November 2013. Digging through the report, the OC is now gone completely from the report. The SOL is now up and I understand that Midland can technically be on my report for another year and a half. But is there any way around this since the OC is gone officially now? Or is Midland allowed to post that the account was just opened in Novermber 2013 when it's really a 6 year old debt? I also have some old debts consisting of 3 phone bills and 3 cable bills and some medical bills. My score is down to a 501 right now. I have a total of $12,000 worth of debt with half of it being this stupid ring cc. I have nothing helping my score on a monthly basis. Any advice as the quickest way to build up my score? I know that I could get a couple secured credit cards but how long would they take for my score to jump to at least 550 or 580? I am looking to buy a house and need to clean up some of this. Please help!!!

[gdale6]

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@Mellochick wrote:

Ok so I have a tricky situation. 6 years ago I took out a credit card for an engagement ring (dumb I know) but anyways, the OC was on my report up until this past year. Now on my report shows Midland Funding as a new account in November 2013. Digging through the report, the OC is now gone completely from the report. The SOL is now up and I understand that Midland can technically be on my report for another year and a half. But is there any way around this since the OC is gone officially now? If its within the CRTP not much you can do about their reporting. CRTP is 7.5 yrs post DOFD. Since this past SOL hit them with a DV.

Or is Midland allowed to post that the account was just opened in Novermber 2013 when it's really a 6 year old debt? This is just the date they opened their collection on it, they still have to operate from the OCs DOFD.

also have some old debts consisting of 3 phone bills and 3 cable bills and some medical bills. My score is down to a 501 right now. I have a total of $12,000 worth of debt with half of it being this stupid ring cc. I have nothing helping my score on a monthly basis. Any advice as the quickest way to build up my score? I know that I could get a couple secured credit cards but how long would they take for my score to jump to at least 550 or 580? I am looking to buy a house and need to clean up some of this. Please help!!!

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Get your secured cards ASAP, no one can give you a time frame it will take to get your score up. For the medicals Google the HIPAA Process and contact its creator. The phone bills/cable bills if past SOL hit them all up with DVs if its CAs reporting.

[RobertEG]

The debt collector is permitted, as long as they have legitimate collection authority, to report their collection regardless of any reporting or absence of reporting by the OC.

If deletion of the collection is your primary goal, then the normal process is to offer payment in exchange for their deletion of the reported collection.

Even after credit report exclusion of their reported collection, you would still have an unpaid, delinquent debt that could impact your future quest for new credit.

If they accept a PFD, you kill two birds.... earlier removal of their collection from your scoring, and satisfaction of the debt.

[Imperfectfuture]

If you look at the BBB complaints for midland, they never really validate, they ask you to prove.  The only way toteal with them is through cfpb, BBB doesn't even help.

They report to the BBB that the CRAs require them to report as factoring company.  They obviously have a bad rep.  Don't bother fighting any way but cfpb, and be prepared for small claims.

[Mellochick]

umm what is cfpb? And aren't they required to prove in 30 days or then they have to remove the debt legally? I can prove from my credit report last year that the OC was there and is now gone on the new report. legally they have until next year to report but with the OC gone, I thought maybe they just gave up and then Midland shows up now. And when the lender recently pulled my report, it shows date opened as 11/13 so to the lender it looks new when in fact it is past the sol!

[Shogun]

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@Mellochick wrote:

umm what is cfpb? And aren't they required to prove in 30 days or then they have to remove the debt legally? I can prove from my credit report last year that the OC was there and is now gone on the new report. legally they have until next year to report but with the OC gone, I thought maybe they just gave up and then Midland shows up now. And when the lender recently pulled my report, it shows date opened as 11/13 so to the lender it looks new when in fact it is past the sol!

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Trying to figure out your questions, this is what I have.  No, just because the OC is not reporting doesn't mean the CA can't report.  As long as it remains within the CRTP, either or both can report.  The 30 days you are questioning about, is this from a dispute or a DV?  If it's a DV, and it's within 30 days of first contact, then they must just stop collection attempts until they do respond.

if it is a dispute, then that deals with the CRA, and the CA must respond to the dispute within 30 days, unless the dispute was through the free annual reports, then they have 45 days.

[Mellochick]

well i never received any form of documentation from midland at all. i didnt even know they were on my report until i pulled it this past month and they just got on there in november. I am not sure if they could even prove that the debt is valid anymore seeing as how it was 6 years ago. so what happens if they don't respond or can't prove the debt with the documents that i signed? do they automatically have to remove the account from my report or will i have to fight it?

[Imperfectfuture]

Fight it. Again, read the BBB complaints against midland. (google)