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Reapplying for charged off credit issuers

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youngandcreditwrthy
Senior Contributor

Re: Reapplying for charged off credit issuers


@IcyCool7227 wrote:

Before yesterday I wasn't even aware of internal blacklists and thought that when it fell off my credit report it would be gone from their record as well when they ran a credit check upon applying again. No I never paid Chase but that has fallen off my credit report recently and the total was about $6800 - I just simply do not have that kind of money paying around.

 

I have almost the amount of money to pay the US Bank creditor back (around $2000) but with what I was planning to purchase this year it wouldn't be enough. Should I be paying US Bank back in order to get back into their good graces? Does US Bank ever take people off the blacklist - there is not a lot of info supporting that.

 

Finally it seems Barclays isn't automatically forgiving that I would be approved automatically and that it would seem to take time at least 10 years and a reconsideration phone call would do the trick. Correct? The only card that Barclays seems to have that's appealing is the Choice Privledges card which I had before. Most of their other ones don't even appeal to me. I think I'd like to have us bank and Chase back. BTW Barclays sent me to collections and the collections was paid off in March of last year as part of a settlement for around $1100 something.


most likely you are past the SOL therefore they have no legal recourse to collect the balance or enforce collection of it. They can deny you credit, but if they do for a past balance which has no legal ability to collect (ie judgment, collection, lawsuit, etc) I would report to CFPB. Amex got in trouble and had to pay a fine because they were trying to collect on old debts past the SOL by denying people with prior bad debts with them. 

 

YMMV.

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Message 31 of 43
youngandcreditwrthy
Senior Contributor

Re: Reapplying for charged off credit issuers

@IcyCool7227  why don't you try opening up a checking account with chase (look for a good 200 or 300 bonus) That will help you ascertain whether they are holding that old account over your head. Look up the SOL in your state for unsecured debts before you give them the ability to re age the debt and add it back to your credit report.

 

be careful careful... if you call them and offer to pay or something, they can add it back to your credit report and make it look recent. If its beyond the SOL for lawsuits or other civil action ie collection company intervention, then there isn't much collecting they can do. However, they reserve the right as a business to deny you new credit accounts for a variety of reasons.


@IcyCool7227 wrote:

Chase is the one with $6800 something. Now that it's off the CR I can't even see how much it was charged off for exactly with cents. If I never pay it would I ever get back with Chase again after more time or not? Would Chase even accept the payment at this point if it's off the CR?


 

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 32 of 43
coldfusion
Community Leader
Mega Contributor

Re: Reapplying for charged off credit issuers


@youngandcreditwrthy wrote:

@IcyCool7227 wrote:

Before yesterday I wasn't even aware of internal blacklists and thought that when it fell off my credit report it would be gone from their record as well when they ran a credit check upon applying again. No I never paid Chase but that has fallen off my credit report recently and the total was about $6800 - I just simply do not have that kind of money paying around.

 

I have almost the amount of money to pay the US Bank creditor back (around $2000) but with what I was planning to purchase this year it wouldn't be enough. Should I be paying US Bank back in order to get back into their good graces? Does US Bank ever take people off the blacklist - there is not a lot of info supporting that.

 

Finally it seems Barclays isn't automatically forgiving that I would be approved automatically and that it would seem to take time at least 10 years and a reconsideration phone call would do the trick. Correct? The only card that Barclays seems to have that's appealing is the Choice Privledges card which I had before. Most of their other ones don't even appeal to me. I think I'd like to have us bank and Chase back. BTW Barclays sent me to collections and the collections was paid off in March of last year as part of a settlement for around $1100 something.


most likely you are past the SOL therefore they have no legal recourse to collect the balance or enforce collection of it. They can deny you credit, but if they do for a past balance which has no legal ability to collect (ie judgment, collection, lawsuit, etc) I would report to CFPB. Amex got in trouble and had to pay a fine because they were trying to collect on old debts past the SOL by denying people with prior bad debts with them. 

 

YMMV.


The SOL provides a positive defense - i.e. you definitively proving that the debt is time barred would be sufficient to get a judgement in your favor - against lawsuits attempting to collect a debt, but it doesn't prohibit or prevent creditors or their assignees from using other means to collect the debt. 

 

(2/2024)
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Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 33 of 43
911gt34life
Frequent Contributor

Re: Reapplying for charged off credit issuers

Interesting topic 🤔 my Chase charge of dropped off already a few months ago but they still doing soft pull on ex ..

>
Message 34 of 43
leen7132
Established Member

Re: Reapplying for charged off credit issuers

Chase got me good. They know what they are doing that's for sure. 

 

Had two charge offs totaling about 8K. They were charged off back around 2017, and had no activity on either reported account since the charge off. They were not sent to collections and no judgements were filed. Chase would randomly send me a letter offering settlements throughout the years. 

 

With the accounts dormant on my credit reports, i ignored them. Well Chase was still watching me, because the second i applied for a mortgage, Chase updated both accounts on my reports to reflect a new CO status for that month. And then updated each month afterwards. My ficos dropped 100 points each. 

 

I called Chase, negotiated a settlement on both which was very easy and the rep was very friendly. I negotiated down to about 20-30% of total balance owed. Paid over the phone. Recevied the "account has been settled and closed" letters in the mail a few days later. Now if this helps me get back in the door with Chase in the future then thats good. If it does not since i burned them and they did not recoup all monies owed from me bc we settled, then so be it. After Chase updated to zero balance and settled, i regained my lost points. 

 

But Chase will indeed accept payment after Charge Off. And Chase is indeed watching your activity. 

Message 35 of 43
Horseshoez
Valued Contributor

Re: Reapplying for charged off credit issuers


@leen7132 wrote:

 

...Now if this helps me get back in the door with Chase in the future then thats good. If it does not since i burned them and they did not recoup all monies owed from me bc we settled, then so be it. After Chase updated to zero balance and settled, i regained my lost points. 

 


I strongly suspect you'll get back in with Chase sooner or later.  I burned them for something north of ten-grand in my 2015 Chapter 13 and got back in a year ago this week.

I categorically refuse to do AZEO!
Message 36 of 43
BuckyB
New Contributor

Re: Reapplying for charged off credit issuers

Interesting.  In 2017, both Discover and Capital One sued me over unpaid cards from late 2015 or so.  They couldn't serve me (their process servers were going to an old address) and so they both eventually had to dismiss their lawsuits.  Earlier this year I was approved for cards from both of them 😂

Message 37 of 43
youngandcreditwrthy
Senior Contributor

Re: Reapplying for charged off credit issuers

@OmarGB9 

 

old delete lol

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 38 of 43
youngandcreditwrthy
Senior Contributor

Re: Reapplying for charged off credit issuers

@leen7132  you got scammed by chase... unless you were getting a mortgage from them...

 

You should have looked up the SOL in your state. They can make up whatever rewuirements they want to issue a mortgage, but they should have never added it back to your report unless you called and told them you missed owing the debt lol.

 

Imo what they did was totally illegal and had you gone to court, you would have won. **bleep** dude

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 39 of 43
leen7132
Established Member

Re: Reapplying for charged off credit issuers


@youngandcreditwrthy wrote:

@leen7132  you got scammed by chase... unless you were getting a mortgage from them...

 

You should have looked up the SOL in your state. They can make up whatever rewuirements they want to issue a mortgage, but they should have never added it back to your report unless you called and told them you missed owing the debt lol.

 

Imo what they did was totally illegal and had you gone to court, you would have won. **bleep** dude


 

I didnt get scammed by Chase. Nothing illegal occured. They had every right to continue to report, update the accounts and try to collect. The debt hadnt aged the 7 years from DOFD to fall off my report. My first delinquency occurred sometime in mid 2017. It was charged off late 2017. That puts 7 years around mid 2024.... but im buying a house and couldnt wait for it to fall off. 

SOL in my state for CC debt is 3 years. This only means Chase could not SUE me for the monies after 3 years. They can still legally report the debt for 7 years after my first deliquency. They can also update that debt every single month with CO status if they wanted to. There was nothing illegal done by Chase. 

They updated an old account with CO status after having it dormant for years only bc they saw my mortgage pulls. 

Message 40 of 43
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