HI All,
I have been reading these post for awhile and am posting for the first time so any help would be appreciated! Long story short I want to buy a house but have some road blocks on my credit. All of the smaller accounts I can PIF and am not worried about, my broker is worried about the largest account that is a Cavalry Portfolio that amounts to approx. $19,500 the DOFD is either 1/2007 or 6/2006 my EQ report shows it as 1/2007 but TU is showing first missed payment is 6/2006 so I am a little confused there? My states SOL is 6 years. My broker tells me to call and settle the account and he can get me approved but I am concerned that I don't have enough to settle right away and of course don't want to have my wages garnished either.
What would the best course of action be? Settle? And if so how much is a reasonable offer to settle and move on, original balance that CO'd was $13,246. Or should I sit tight and wait for the SOL to expire? EX shows that the account is scheduled to continue on record until 10/2013. I have not gotten a dunning or any correspondence from the CA so I have been avoiding this until now when I wanted to buy a house I would think that a 30% settlement would work but obviously I have no idea how to proceed..... Please any and all advice would help tremendously!!!!!!! Thanks!
