topic Re: Questions, Questions.... in Rebuilding Your Credit

Questions, Questions....

Anonymous — Mon, 02 Feb 2009 05:36:00 GMT

Hey all, new to the site. Wow some great info on here! Wish I would have found this sooner! Okay so I have a couple of questions of my own.

I have several collections that I paid (wish I wouldn't have after finding this site, oh well) and am wondering if I should try to send GW letters to the collecting agencies? Also I have a charge off with a cell phone provider. I can pay the full amount, do I need to DV them? Or just ask for a PFD?

Also I have a CC account that was charged off. It was opened in 2001 but last reported in 2007...I'm confused as I haven't heard anything from this compnay since I settled with them for less than full balance. Is this common?

I have one medical collection that isn't paid but I have the money to pay it. Do I DV this or do I just go ahead and send them a PFD?

How about student loans that the account has been closed for refinanced but was past due? Whew.....that was more than a few questions...

Any and all help greatly appreciated! I know it's hard for some of the major contributors to reply to everybody so I shall wait patiently.

Thanks

Re: Questions, Questions....

Anonymous — Mon, 02 Feb 2009 19:03:30 GMT

Welcome to the forum justcriss.

You need to know what the DOFD/DOLA is from all collections. The OC sets this not the CA. The CA will report an open date which is the date that they were assigned or bought the account. This is not the DOFD.

CAs as well as OCs must drop from your CR in approx.7 years from DOFD!!

You would send GW letters to all paid CAs. Be sure to know what the DOFD was from the OC.

The CC that was opened in 2001 you need to know what the DOFD was. Look at your CR from EX or TU. It will say something like *will remain on your CR until month/year. The year opened means nothing!

You need to know what your SOL is before sending a DV or doing anything with collections!!!

SOL by state

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Always try to pay the OC before any CA!!! The only time that an OC can not accept payment is if the account was sold!

Always DV a CA (if past SOL) before thinking about a PFD! Know your state law dealing with CAs. Does the law state that all CAs must be licensed or bonded. If they do are the ones on your CR?

Never talk to any CA about anything!!! everything must be in writting! Medical is different!

Paid medical must be deleted from your CR.

You must follow the HIPAA process from the beginning to the end.

Opt-out then send the HIPAA dispute letter to all CRAs reporting. Be sure to handwrite everything or use the correct colored statinary.

Wait until the CRAs complete the dispute. If they are deleted then you are done (paid collections) Unpaid collections should be paid with the next letter (the OC letter) Payment should always be made using the restrictive endorsment!

You never DV an OC. Never contact a CA about a medical debt!!

As to the cell phone. Who is reporting the OC,CA or both. What is the DOFD (when did you stop paying)?

Federal SOL on phones is 2 years from DOFD.

Message Edited by HappyDays on 02-02-2009 11:01 AM

Message Edited by HappyDays on 02-02-2009 11:03 AM

Re: Questions, Questions....

Anonymous — Wed, 04 Feb 2009 02:30:53 GMT

Thanks for getting back to me so soon HappyDays! Ok here are some answers to your questions....

The CC that was opened in 2001 you need to know what the DOFD was. Look at your CR from EX or TU. It will say something like *will remain on your CR until month/year. The year opened means nothing!

Says it will remain on there until April 2010

You need to know what your SOL is before sending a DV or doing anything with collections!!!

8 years for written contracts, 5 years for oral, 8 years for promissory notes and 5 years for open accounts

As to the cell phone. Who is reporting the OC,CA or both. What is the DOFD (when did you stop paying)?

its reporting as the original creditor which is Verizon. Says its a charge off as of May 2006- May 2007 and will remain on my record until Aug 2012

Also, I have a question with recent collection activity. I made a payment on my CC that was past due. Recieved a notice from one collection agency in the mail. Got the mail the other day and there was a bill from the CC company (they had received the payment) and a notice for collection on that account but from a different CA. Do I contact the OC to try to pay in full and have them pull it back from collections?

Re: Questions, Questions....

Anonymous — Sat, 07 Feb 2009 03:59:59 GMT

^^Bump^^

Any more info HappyDays? Anybody?