Re: Rebuilding - Need Help
01-15-2013 07:32 AM
Welcome to the forums!
I'd suggest reading the following:
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
CapOne likes to own their own CO'd debts. They'll usually only sell the debt once SOL expires. They'll most usually add lates each month following the CO and uptick the balance due to interest. You can certainly try a PFD. IME, DW had a CapOne CO and we sent dozens and dozens of PFDs with no luck. Definitely try, but I'd suggest after a couple of No's pay it off and GW at a later date. Not saying that CapOne is impossible to get a PFD with, I've only seen a couple IIRC. The CA in your example won't ever report. Definitely keep paying the CA while trying the PFDs. CapOne isn't required my law to report it; they only must report accurately. BTW, simply paying it in full might result in a significant score gain if your CC util improves in the process.
Are the other baddies newer? If so, I'd focus on them. If older, then I'd focus on CapOne. CapOne's age factors in too. If it is your oldest accounts, you may not want it deleted out of risk of losing points. If younger on average, then no harm in asking to have it removed via a PFD now or GW after PIF.
SOL varies by state. Some states allow SOL to be reset via a payment. Some states allow SOL to be suspended if you move out of state or out of the country. Make the assumption that you are inside SOL unless proven otherwise.
If you are inside SOL and have the $$$ to PIF the EAF debt if you had to (to avoid a judgment), then send a DV to EAF. If they verify and you agree, then send a PFD.
IMO, ignore Vision. Focus on Pinnacle since they are the ones reporting. Sometimes OCs and CAs will outsource their collections to a 3rd party, but often that 3rd party can do squat, as in this example.
Send a PFD to Asset if wanting to go that route.