Queston about CA reporting

[Anonymous]

How long do collection agencies take before they start showing up on credit reports? In my previous post I listed my negative accounts but my credit report doesn't list any collections... Boy am I confused!

[fused]

Welcome to the forums!!!

It can vary quite a bit. Some collection agencies report quickly, some slowly and others never report. Looking at your other post, most of your negative accounts are still in the hands of the original creditor. You'll want to ask others about their experience with charge-offs with Cap1, BoA and HSBC. Maybe they can tell you how long it took for the collections to show up on their reports.

[Anonymous]

I've been receiving letters from collection agencies for three of the negative accounts.  I've been getting the collection notices for quite some time (approx. 9 months to a year).  That is why I didn't think they were still with the original creditor.

[LIGHTNIN]

Some things you may like to know about collections.

OC's  can do one of two things with a debt,have the debt assigned to a CA or sold to a CA.

A recent collection on your CR can hurt your CS as much as 80-100 points.

FICO scoring see a unpaid collection the same as an paid collection...No score change,but a paid collection is helpful on a manual review.

Try using PFD letters to have the CA be removed from your CR,sometimes you will see a score jump by removing the CA.

One way to see if a debt was sold to a CA is to check the balance on the OC on your CR,if it a zero balance then the debt was sold.

Also know your states SOL,thats the time limit they have to take further legal action against you.

[miguy22]

If you have an account with Cap1 please PLEASE make arrangements with them as soon as possible. I've been involved with various creditors over the years and Cap1 by far is the most preditory. They will tack on fees and place a judgement against you the first time you miss a payment. If you make payment arrangements even if it's only $20 a month they will take it and leave you be. Don't wait for them to get you. I learned the hard way.

[RobertEG]

Be careful of a PFD until you are sure the debt is outside of your state SOL for debt.

The very first thing I suggest is knowing your state SOL.