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Uggghhh -- Portfolio -- Please advise...

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trix_r_4_kids
Regular Contributor

Uggghhh -- Portfolio -- Please advise...

Hello, All!

 

Like a lot of you, I am working to rebuild. Despite my efforts on other negatives, Portfolio continues to be a pain in the @$$. The CA stems from a charge off from HSBC. The DOFD from the original account with HSBC is 11/2007. I've only been a part of this community for a few months, so I didn't know a lot when I first heard from Portfolio regarding the collection. I probably received a dunning notice back in 2008, but did nothing about it due to my ignorance at that time. However, Portfolio continues to be the bane of my credit report.

 

I recently signed up for the USAA CM service (thank you to everyone who recommended it -- it is pretty terrific). Here is the snapshot of how Portfolio is reporting:

 

 

I sent them a combo pfd/settlement letter 3 weeks ago.  No response.  I will pay to take care of this, but I refuse to call them.  At this point, I'm wondering if a 623 letter would help.  Does anyone see anything wrong with the way they are reporting?  Why is EQ showing "OK" and EX showing "KD"?  Should the account status be open or closed?

I used to post my scores here. However, I'm prone to motion sickness and the ups and downs were nauseating.
Message 1 of 4
3 REPLIES 3
Repo-ed
Senior Contributor

Re: Uggghhh -- Portfolio -- Please advise...


@trix_r_4_kids wrote:

Hello, All!

 

@Like a lot of you, I am working to rebuild. Despite my efforts on other negatives, Portfolio continues to be a pain in the @$$. The CA stems from a charge off from HSBC. The DOFD from the original account with HSBC is 11/2007. I've only been a part of this community for a few months, so I didn't know a lot when I first heard from Portfolio regarding the collection. I probably received a dunning notice back in 2008, but did nothing about it due to my ignorance at that time. However, Portfolio continues to be the bane of my credit report.

 

I recently signed up for the USAA CM service (thank you to everyone who recommended it -- it is pretty terrific). Here is the snapshot of how Portfolio is reporting:

 

 

I sent them a combo pfd/settlement letter 3 weeks ago.  No response.  I will pay to take care of this, but I refuse to call them.  At this point, I'm wondering if a 623 letter would help.  Does anyone see anything wrong with the way they are reporting?  Why is EQ showing "OK" and EX showing "KD"?  Should the account status be open or closed?


What is SOL for your state?

 

If you are not going to apply for anything major, you may do best, just letting it age off.

 

Paying it off will not change your score, but could help in a MR for new LOC.

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 2 of 4
trix_r_4_kids
Regular Contributor

Re: Uggghhh -- Portfolio -- Please advise...

SOL is 6 years.  I want to ap for a mortgage next June.  I'm worried that the current KDs will look like recent lates.  How can I be late on a collection account?

I used to post my scores here. However, I'm prone to motion sickness and the ups and downs were nauseating.
Message 3 of 4
RobertEG
Legendary Contributor

Re: Uggghhh -- Portfolio -- Please advise...

The inconsistency I see is that the collection is reporting to two of the three CRAs as closed, but with a balance still under collection.

It cant be both.  The collection is either open, and thus has an amount under collection, or it does not.

However, that is not a major issue relating to continued inclusion of the collection, as a closed collection is not deleted on that basis.

If you dispute, they will either update the status to open, or update the collection amount to $0.  Either way, the collection can remain.

Inaccuracy in reporting does not require CR deletion provided they can correct the inaccuracy.

 

As for continued reporting of the status, they can report monthly, and continue to report its status, even if unchanged.  That does not update its CR exclusion date, which is based solely on the DOFD, which is apparently 11/2007.

 

A DOFD of 11/2007 results in a CR exclusion date of 5/2015.  That is much later than your apparent target date, which kinda places the burden on you.

If immediate CR deletion is your goal, then a PFD acceptance is needed.  They are under no requirement to respond to your offer.  While you state reluctance to call them, that would be my path. They may want full payment in exchange for PFD.  Who knows.

Furthering negotiations is difficult without discussion.

Message 4 of 4
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