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Please read - older collection items - car and private student loans

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Anonymous
Not applicable

Please read - older collection items - car and private student loans

 

I'm fairly new to the board, but have been lurking and soaking up much knowledge.

 

I wanted to share some information with you and ask for your feedback. The most damaging items on my credit report are collections.

 

Here is a cut and paste:

NameAmountYear OpenedTodayYears
Cap One Auto Fin$1,023.00January-02February-1210
Citibank- Student Loan$4,185.00October-06February-126
Citibank$3,101.00March-06February-126
Citibank$4,552.00August-07February-125
First Premier Bank$476.00May-09February-123
First Premier Bank$623.00October-08February-124
American Honda$1,852.00August-03February-129
Centerpoint$164.00November-05February-127
     
Total$15,976.00   

 

The costliest are the student loans. I've been reading threads about paying in full or partial, but on condition of deletion. Are student loans eligible for that as well?

 

I have seen some information on student loan rehab, but don't fully get that.

 

I have some other active student loans that are in forebearance that I will soon be paying $270 a month for. Can I combine the old loans and current student loans?

 

Any guidance is greatly appreciated.Smiley Happy

 

Thank you,

 

Tex

 

original EQ 506/ I pulled 1/29 -619 (why did it go up so high? Not complaining, just wondering :-)

original Exp 506 -?

original TU 516/ I pulled 1/29 - 588 (why did it go up so high? Not complaining, just wondering :-)

 

Goal: 720

Message 1 of 5
4 REPLIES 4
IOBA
Senior Contributor

Re: Please read - older collection items - car and private student loans

What are the dates of the last payment/activity for all of those accounts?

 

Student loans are not usually deleted.   Check to see if they are still with the  lender.   If they are, ask to do a rehab program.   After about 9 on time payments, they delete the bads.     If they are in collections, ask the CA for a rehab program to delete the bads.

Message 2 of 5
Anonymous
Not applicable

Re: Please read - older collection items - car and private student loans

Hi IOBA,

 

Thanks for the reply.

 

I revised the chart taking off the open date and adding last activity:

 

NameAmountDate of Last ActivityTodayYears
Cap One Auto Fin$1,023.00August-07February-125
Citibank- Student Loan$4,185.00February-09February-123
Citibank$3,101.00February-09February-123
Citibank$4,552.00February-09February-123
First Premier Bank$476.00August-09February-123
First Premier Bank$623.00August-09February-123
American Honda$1,852.00June-08February-124
Centerpoint$164.00September-06February-126
     
Total$15,976.00   

 

All of the collections above are shown on the CR as "charged off as bad debt" and are with various collections agencies.

 

So, it sounds like I need to go the CA and do a rehab? Will they work with me only a monthly amount?

Message 3 of 5
pizzadude
Credit Mentor

Re: Please read - older collection items - car and private student loans

The date that you need to look for is the DOFD, not the date of last activity That determines both how long they will show on your report ( CRTP ) as well as the timeframe that you creditors have to bring legal action ( SOL ) for these debts.

Equifax shows DOFD on their reports; I believe that The others show an approximate date that each account will be removed.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 5
Anonymous
Not applicable

Re: Please read - older collection items - car and private student loans

Thanks Pizza Dude,

 

I'll go back and pull. So, from that date it would be about 7 years to fall off?

 

The student loans worry me the most as I cannot PIF one lump sum on those.

 

The others are workable. I would like to try for a PIF and deletion on the others since it sounds like the Student Loans aren't eligibe for the deletion.

Message 5 of 5
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