What are my next steps

[jonj34]

I have been fixing my credit now for about a year and have seen some increase in my credit score. I need some help with the next steps. I can pfd either the medical collections or pfd a college bill. Should I pfd the school debt or pfd the 2 medical accounts? I want to pay the one that is going to help my score the most in the short term. If anyone has had any luck with gw letters I need your help too with CMI and Interstate. I have been sending GW for about 7 months now with no luck. I do want to buy a house this year.  These are the baddies I have left on my credit. Any advice will be appreciated. Thanks in advance.

  Collections accounts

Medical bill

Absolute Collection SVC

Original balance: 600

Current balance: 600

DOFD: 04/ 2010

 

Medical bill

Absolute Collections SVC

Original balance: 200   

Current balance: 200

DOFD: 10/ 2009

 

Strayer University bill not student loan stopped taking class; did not pay and was charged for the remanding balance

Access Receivables

Original balance: 4,650

Current balance: 4,650

DOFD: 09/ 2013

 

Time Warner cable

Credit Management LP (CMI)

Original Balance: 179

Current balance: 0

DOFD: 8/2011

 

Interstate Credit Coll

Progress Energy

Original balance: 318

Current balance: 0

DOFD: 09/2014

 

I have two accounts with lates

 

Regional acceptance Co

Repossession

Balance: 10,000

Passed due amount: 8688

Current balance 10,830

They are reporting it on Trans Union as repossession and on Experian it is a collection/charge off. But it is not in the collections part of my credit report. It is reporting as late payments. I have no clue how to handle this one. 

 

Dept of Veterans Affairs

Overpayment: 311

Balance: 0

DOFD: 10/2014

7/11/09: TU:611

7/11/09: EQ:586

5/16/09 TU: 594

5/16/09 EQ: 576 

 

[guiness56]

DOFD is not the same date as when it will come off your report.  Those are the dates you have listed. 

For the ones that are paid the best you can do is send a GW letter.

For the ones that are not paid you need to find out what your SOL is for each type of account.

[jonj34]

All the DOFD are the the estimate date of removal, sorry about that. The accounts that are in the SOL are:  department of vet, progress energy, and Strayer. All the others are out of the statute. I have not been sued for the car repo but they are out of the SOL and I dont have 10,800 to pay.   

[BungalowMo]

I'd definitely pay the Dep of Vet Affairs.  Any time you owe Uncle Sam, it's not good.

[guiness56]

According to what you have posted, the cable, energy and Dept of VA are all paid.  The only thing you can do is send each of them a goodwill letter and ask that the accounts be removed.  They do not have to do it but they can.

The 2 med collections are to be removed within a year. 

Are you absolutely sure these accounts are outside SOL for your state?

The one from the university I would worry about.  It is still several years from being removed and within SOL.  You stand a chance of being sued.  I would call them and see if they are willing to make payment arrangements.

[jonj34]

I believe the SOL for NC is three years on written contracts.

[guiness56]

Which account are you referring to?

[jonj34]

I was referring to the accounts with balances primarily the two medical and the repo. I know that the university is in the statute. I do want to buy a house this year and I was concerned with the order in which I should pay to qualify for a house. I can make arrangements with the university but at the same time I do have funds to PFD the two medicals. The repo which is out of the SOL  I am not sure how to handle this one. They are reporting late payments every month.

[Anonymous]

If you have the money to pay for the medical debts, I would go ahead and PFD them.  Doing so will remove 2 collections from your account.  If you wanted to save $200, you could wait to house shop until 10/2009 when the one medical collection drops.  Getting those 2 off your credit report would provide a boost of some sort, how much I don't think anyone knows.  But don't pay them unless they will DELETE from your record.

Working a payment plan on the college collection probably isn't going to do much for your situation, except make you feel better.  Now if you had the money a PFD would be the way to go.  But if you don't have the $ to pay, and you CAN procure a home loan, and it does drop in 2013 then I would probably let lying dogs lay.

Keep sending GW letters to the other 2 collections you have paid.  Go up the ladder each time you send.  Just this week, there was a post about soemone finding the email address to the president of a company and sending the GW to them after tons of GW rejections from the "grunts" and it worked!  Those would also help alot, as paid and unpaid collections report the same amount of negative information on your report.

I'm stumped on the repo.  Haven't had to deal with that yet.

Message Edited by pokershark on 07-17-2009 07:45 AM