topic Re: Need your expert opinions on these negs please in General Credit Topics

Need your expert opinions on these negs please

Anonymous — Thu, 20 Dec 2007 01:52:28 GMT

If I could get some advice on how to handle these from you all as I am sooo confused. I live in Ohio where the SOL on "open" accts which all of these are is 6 years. I tried calling TU to get DOFD on these and all they gave me was last activity date

Bear with me there are a few:

Arrow Financial Balance: $437 Pay Status: Collection Acct
Date Updated: 10/2007 Original Balance: $433
Orig Creditor: Cortrust Bank Past Due :437
Placed for Collection: 7/2007 Date item will be removed: 2/2014
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Asset Acceptance Balance: $1672 Pay Status: Collection Acct
Date Updated: 11/2007 Original Balance: $1247
Orig Creditor: Household Bank Past Due :1672
Placed for Collection: 3/2004 Date item will be removed: 7/2009
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Asset Acceptance Balance: $499 Pay Status: Collection Acct
Date Updated: 11/2007 Original Balance: $449
Orig Creditor: sbc Past Due :499
Placed for Collection: 12/2004 Date item will be removed: 8/2009
-------------------------------------------------------------------------------
Asset Acceptance Balance: $1286 Pay Status: Collection Acct
Date Updated: 11/2007 Original Balance: $1244
Orig Creditor: first energy Past Due :1286
Placed for Collection: 12/2006 Date item will be removed: 7/2011
-------------------------------------------------------------------------------

Lets start with those.....I have not done ANYTHING with these no DV or PFD. Also I should mention yes these are mine. Currently I am at a 540 on TU. I want to start improving this now but fear I cant do anything until 2009 other than pay them off which wont help my score.

Re: Need your expert opinions on these negs please

Anonymous — Thu, 20 Dec 2007 02:25:56 GMT

these are all CAs....look at the OC for the drop date.......Also 6 years is for an open account. Open accounts are those that you make payments but there is no set payment like with a mortgage or auto loan.

Re: Need your expert opinions on these negs please

Anonymous — Thu, 20 Dec 2007 03:08:42 GMT

I will give you what little knowledge I have, but hope it helps.

I recently had some like that and they were past the SOL. But, the newest CA would sneakily update it as open and sometimes a revolving acct when it wasnt. I would first try a couple rounds of goos disputes stating the info is incorrect as it stands. Best case scenario, they dont respond and it is removed, worst case scenario, you work something out.

I have had A LOT removed recently by actually calling the CRA's and telling them the situation. Harrasse them for a change. LOL

If they are yours, and you want to get them off by paying, do a PFD only!! I also have found that if you just pay it and it stays, it doesnt help much. I assure you with persistance, they will do a PFD. Get in touch with someone in charge and tell them " Look, you can not get a dang dime and keep it on there till it is removed by age, or you can look like a champ to the OC and get the money for a PFD. It's up to you. " Which do you think they will eventually take? Hope I helped a bit. Best of luck.

Jameson

Re: Need your expert opinions on these negs please

Anonymous — Thu, 20 Dec 2007 03:13:34 GMT

Happy Days yes they are all CA's and they are listed as open accounts...im not clear on what you were trying to tell me

Re: Need your expert opinions on these negs please

Anonymous — Thu, 20 Dec 2007 04:25:12 GMT

You are misunderstanding *open account* when talking about SOL is not what you are thinking.

When you have a CC and it is in good standing...it is open meaning that you can use it.

The type of account is called *open account*

SOL goes by...open accounts CC is called an open account

You have installment loans like auto which are a set payment each month. A CC is also refered to as revolving.

Ohio Statutes of Limitation

Written or oral account: 6 years, (O.R.C. §2305.07).

Written contract: 15 years, (O.R.C. §2305.06).

Oral contract: 6 years (O.R.C. §2305.07).

Note payable at a definite time: 6 years, (O.R.C. § 1303 .16(A)); (2)).

Demand note: 6 years after the date on which demand is made or 10 years if no demand is made and neither principal nor interest has been paid over that time (O.R.C. §1303.16(B)).

Dishonored check or draft: 3 years after dishonor, (O.R.C. §1303.16 (C)).

ALL CC accounts are called open accounts in every state.

Message Edited by HappyDays on 12-19-2007 08:25 PM

Re: Need your expert opinions on these negs please

reno55 — Thu, 20 Dec 2007 11:56:04 GMT

Ahhh ok so on the ones I posted like the household bank and cortrust those were for credit cards so would those fall under open or written? Judging from the fall off dates it is 6 years so they appear to be the open type account. My main concern is should I DV or PFD these since they are clearly not past SOL. People have said they got asset acceptance to do PFD.