topic Re: Charge offs and Sold debt in General Credit Topics

Charge offs and Sold debt

Anonymous — Thu, 28 Jan 2010 01:25:24 GMT

I am rebuilding credit and I have some debt that was charged off years ago from the original holder. These don't even show up on my credit anymore EXCEPT as account inquries from companies showing they bought the debt (or whatever the do to get it) and now they are harassing me, there is no phone number listed for these people...any of them...though I supoose with some googling I could get it, but can I really tell them to shove off since technically the debt was once mine even though it wasn't with them and since the original account no longer shows on credit...? These are accounts listed as inquiries seperate from promotional inquiries (I.e. geico) which I just learned I could opt our of and did.

I sometimes get mail from these people, but honestly if I get mail with my maiden name on it that was changed more than a decade ago I chuck it.

Help in understanding my "rights" ...

Re: Charge offs and Sold debt

Creditaddict — Thu, 28 Jan 2010 01:30:56 GMT

if the debt is older than the statue of limitations for fair debt collecting, I would tell them to shove off for sure.

Re: Charge offs and Sold debt

Cotton_Britches — Thu, 28 Jan 2010 01:34:10 GMT

Send them a drop dead letter by CMRRR.

Re: Charge offs and Sold debt

BungalowMo — Thu, 28 Jan 2010 14:35:08 GMT

Greetings! First thing you want to do is a permanent opt out. Go to https://www.optoutprescreen.com/opt_form.cgi

Fill out the permanent form. On the next page it will have all your info in a document. Print it & mail to address on the form.

So it sounds like you've got CA's (collection agencies) contacting you. You also say that the OC's (original creditors) are no longer on your reports. How long ago did they drop off? Have you got old reports showing them & new ones showing them gone? In 99% of the cases, when these drop off, you are far beyond the SOL for being sued. BUT, whatever agencies bought the debt will continue until the end of time to attempt to collect the $$ from you.

Check the dates for when these accts went into default & check on the SOL (statute of limitations) in your state (and the stateyou resided in when opening that acct, if different than now).

NEVER talk to a CA on the phone if you are within SOL & owe them money!! Do everything thru us mail- CMRRR & keep copies of all letters & postal receipts. In other words...cover your bootie!

Re: Charge offs and Sold debt

MarineVietVet — Thu, 28 Jan 2010 20:34:46 GMT

@BungalowMo wrote:
Greetings! First thing you want to do is a permanent opt out. Go to https://www.optoutprescreen.com/opt_form.cgi
Fill out the permanent form. On the next page it will have all your info in a document. Print it & mail to address on the form.

So it sounds like you've got CA's (collection agencies) contacting you. You also say that the OC's (original creditors) are no longer on your reports. How long ago did they drop off? Have you got old reports showing them & new ones showing them gone? In 99% of the cases, when these drop off, you are far beyond the SOL for being sued. BUT, whatever agencies bought the debt will continue until the end of time to attempt to collect the $$ from you.

Check the dates for when these accts went into default & check on the SOL (statute of limitations) in your state (and the stateyou resided in when opening that acct, if different than now).

NEVER talk to a CA on the phone if you are within SOL & owe them money!! Do everything thru us mail- CMRRR & keep copies of all letters & postal receipts. In other words...cover your bootie!

When I first read this I thought I had caught Big Mo in a mistake but of course you are right on the money. For permanent opt out you do have to mail in a form. I just choose the 5 year option and continue to renew. I guess I'm too cheap to buy a stamp.

Re: Charge offs and Sold debt

Anonymous — Fri, 29 Jan 2010 19:16:40 GMT

I have a charge off coming up in March 2010 and I was wondering if anyone can give me a rough estimate on how much it can affect and increase in my fico score when it does fall off???

Re: Charge offs and Sold debt

MarineVietVet — Fri, 29 Jan 2010 19:38:10 GMT

@Anonymous wrote:
I have a charge off coming up in March 2010 and I was wondering if anyone can give me a rough estimate on how much it can affect and increase in my fico score when it does fall off???

Hi Laura,

There are too many variables involved to really know. No one knows what else is on your reports. It should help but that's all I'm willing to say. You'll know soon enough after it is gone.

Re: Charge offs and Sold debt

rosa29617 — Sat, 30 Jan 2010 13:50:00 GMT

I completed the form and printed however there was not address given which to send it to; where should I send the opt out request form???