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What do I do with this baddie?

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Anonymous
Not applicable
‎03-29-2016 07:32 AM
‎03-29-2016 07:32 AM

What do I do with this baddie?

 

Ok, as I'm navigating the system slowly-I'd like to start asking how to directly clean up stuff on my report- thin file, only have 2 open accounts this and my mortgage.

 

It was originally an ATT bill past due, I then ended up joining the plan w/my parents and my kids so we all had another accoutn w/att we have been paying for YEARS now.

 

So this ATT bill is VERY OLD-but apparently sold to collections which keeps it 'alive"

 

I C SYSTEM

 

Balance: $403

Collection / Charge-off

Payment History Contact InfoAdditional Account Information

I'm thinking on the Amex just wait it out- it's what 2yrs to drop off?  What about the above one? Can I dispute this? Or do I settle and ask for removal? Do I call ATT instead to settle?

 

Thanks in advance,

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Message 1 of 10
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Anonymous
Not applicable
‎03-29-2016 07:55 AM
‎03-29-2016 07:55 AM

Re: What do I do with this baddie?

@Anonymous wrote:

 

Ok, as I'm navigating the system slowly-I'd like to start asking how to directly clean up stuff on my report- thin file, only have 2 open accounts this and my mortgage.

 

It was originally an ATT bill past due, I then ended up joining the plan w/my parents and my kids so we all had another accoutn w/att we have been paying for YEARS now.

 

So this ATT bill is VERY OLD-but apparently sold to collections which keeps it 'alive"

 

I C SYSTEM

 

Balance: $403

Collection / Charge-off

Payment History Contact InfoAdditional Account Information

I'm thinking on the Amex just wait it out- it's what 2yrs to drop off?  What about the above one? Can I dispute this? Or do I settle and ask for removal? Do I call ATT instead to settle?

 

Thanks in advance,

Just how old is the ATT itme?

Message 2 of 10
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silkysean
Regular Contributor
‎03-29-2016 08:02 AM
‎03-29-2016 08:02 AM

Re: What do I do with this baddie?

@Anonymous wrote:

 

Ok, as I'm navigating the system slowly-I'd like to start asking how to directly clean up stuff on my report- thin file, only have 2 open accounts this and my mortgage.

 

It was originally an ATT bill past due, I then ended up joining the plan w/my parents and my kids so we all had another accoutn w/att we have been paying for YEARS now.

 

So this ATT bill is VERY OLD-but apparently sold to collections which keeps it 'alive"

 

I C SYSTEM

 

Balance: $403

Collection / Charge-off

Payment History Contact InfoAdditional Account Information

I'm thinking on the Amex just wait it out- it's what 2yrs to drop off?  What about the above one? Can I dispute this? Or do I settle and ask for removal? Do I call ATT instead to settle?

 

Thanks in advance,

Well first off find out the DOFD which stands for date of first delinquency from original creditor.Example if at first reported in sat 7/2003 then 7 years from this would be 7/2010 plus 3 months and not February 2016.However be very careful because sometimes disputing causes more problems.Debt collectors show no history just updating so debt must be old getting closer to fall off dates.Bottom one has closed date of 10/2010 but remember it goes by date of first delinquency which could have been say 9/2009 meaning fall off date 9/2015 plus 3 months.Always 7 years plus up to 180 days from DOFD.So one should be dropping off soon.Now top one I would try to do a pay for delete settlement because it's only $403 and if these are the only 2 baddies your in great shape and frOn here on out rebuild and pay on timeGood luck 

Message 3 of 10
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RobertEG
Legendary Contributor
‎03-29-2016 11:45 AM
‎03-29-2016 11:45 AM

Re: What do I do with this baddie?

What is lacking is the reported DOFD.

The posting shows a summary of when the debt collector reported their collections, but does not provide any info on the OC account.

When a debt collector reports a collection, they are required to additionally obtain and report to the CRA no later than 90 days after reporting their collection, the DOFD on the OC account.

 

That date, and that date alone, defines the date of ultimate exclusion of the reported collection, which is no later than 7 years plus 180 days from the reported DOFD.

You need to obtain the reported DOFD, such as by ordering your report from annualcreditreport.com, or directly from the CRA.

 

However, credit report exclusion, once it occurs, does not negate the debt.

It is still owed.

Whether you can still be required to pay depends upon whehter it is also still within the SOL for your state.

Do you know the statute of limitations on the debt for your state?

 

As for who to pay, you should first determine whehter the OC still owns the debt, or whether the debt colelctor now owns the debt.

 

Message 4 of 10
Anonymous
Not applicable
‎03-29-2016 01:04 PM
‎03-29-2016 01:04 PM

Re: What do I do with this baddie?

I agree that first you need to find out the DOFD for both.  If they are still within the reporting time I know IC Systems does PFD since I just did one with them earlier this month.  They removed it quickly after payment.  

Message 5 of 10
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Anonymous
Not applicable
‎03-29-2016 04:00 PM
‎03-29-2016 04:00 PM

Re: What do I do with this baddie?

Ok, update. I called TU and it shows like this:

 

My IC System debt of $403 is scheduled to come off June, 2018- original date of first delinquency was July, 2011.

 

My AMEX it's a little more complicated.  It shows DOFD as May, 2010- scheduled to come off on Apr, 2017.

 

With this said, since the IC will remain longer, would it be a good idea to negotiate a PFD with them to have it off the current derogotary?

 

With Amex, they've offered to settle the account for about 60pct of the debt.  Could I perhaps wait until Dec/Jan and request an early delete? (again scheduled Apr 2017).

 

Main issue is I'm wanting to buy a car by that time of the year, so I would like to have BOTH of these deleted.

 

There are MORE credit issues -old state tax liens in GA so I'm trying to get a payment plan w/them and see how I can get those taken care of (much harder process I understand).

 

In addition, I opened 2 secured cards so I'm hoping by keeping low utilization and ontime payments between now and Dec/Jan it could give a boost at least.

 

Then we have Toyota- Omni financial, it is paid in full but there are quite a few 30 day delinquencies.  Has anyone had any luck in asking them to remove them since account is paid in full, or at least delete some of them? It was towards end of the loan.

 

Financials are MUCH more stable now, divorce and cut in salary bach in that time was what got me bad....I was struggling two support two kids.

 

The good thing is I have a home I own, that is active but also has some late fees, it almost went to foreclosure but we re-financed so it's been current for well over 2 years now.  Not sure how much impact those old marks have...guess I could always do a goodwill letter to them to and see if they could remove?

 

Thanks in advance for any guidance. 

 

Oh, on Amex, if I decide to settle and not wait, are they good about doing a DFP ?  Someone mentioned IC System was good so I'm hoping for a good result with them.

 

Trying to figure out what's best to focus on, money is better but having two teens, mortgage, both in braces payments and about $600-700 in medical bills from last year I want to catch up BEFORE those go on my report are very important to handle asap.

 

 

Message 6 of 10
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darwin_wins
Established Contributor
‎03-29-2016 04:11 PM
‎03-29-2016 04:11 PM

Re: What do I do with this baddie?

Even if you settle with Amex, they won't remove those entries from your CR. There is no PFD with Amex, I paid them back in August, got a conditional card (Optima), EQ entry was gone, TU had it till Feb and EX still has it which will be deleted in July of this year.

 

If you can negotiate PFD with ATT account that would take care of one account. As for Amex, remember one more thing Amex remembers you even if you settled and the account is gone from your CR. I remember a CSR telling me how if I ever want to get an account I would have to pay off the old account, of course it was 2011 and few people have managed to get an account with Amex but it took them a lot longer than they would have wanted. 

 

Are these accounts being updated on monthly basis?

Message 7 of 10
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Anonymous
Not applicable
‎03-29-2016 04:32 PM
‎03-29-2016 04:32 PM

Re: What do I do with this baddie?

I'm not sure if these are updated monthly, how would I find that out? 

 

I think for now I'll resolve the ATT account then and perhaps wait and request an early delete w/the 3 CR bureaus'  around Jan 2017 for Amex if they don't do PFD. 

 

I feel that if I waited this long to pay it off, it would take years for them to give me another card.  Odd thing is I do have a corporate account w/them but not showing on my credit report-unsure why perhaps because it's company paid?

 

I don't want to get a lot of credit cards -just enough to build my credit. Both fiance and I are pay as you go types....I need the higher scores for a car and possible new mortgage down the road though.

 

 

Message 8 of 10
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Anonymous
Not applicable
‎03-02-2017 04:44 PM
‎03-02-2017 04:44 PM

Re: What do I do with this baddie?

Lookingforhelp, I just had IC Systems turn me down over the phone for a PFD request. How did you do it? Did you cut a deal with a higher-up? I just spoke with a customer service rep who said they don't do PFD; they delete from credit bureaus automatically, 30 days after they receive payment. But they wouldn't send a letter to verify this, so I didn't pay. Sounded fishy. I have two accounts with IC Systems, both for amounts under $200, and it would really help my score to get them both deleted.

Message 9 of 10
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Anonymous
Not applicable
‎03-03-2017 09:39 AM
‎03-03-2017 09:39 AM

Re: What do I do with this baddie?

@Anonymous wrote:

Lookingforhelp, I just had IC Systems turn me down over the phone for a PFD request. How did you do it? Did you cut a deal with a higher-up? I just spoke with a customer service rep who said they don't do PFD; they delete from credit bureaus automatically, 30 days after they receive payment. But they wouldn't send a letter to verify this, so I didn't pay. Sounded fishy. I have two accounts with IC Systems, both for amounts under $200, and it would really help my score to get them both deleted.

You should start your own thread as this one is a year old and the op has not been on the site for quite some time.
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