Ok, so i had a business. It was a sole ownership, so everything in my name, although there were 3 of us (big mistake #1). Closed the business, asked for final bills. Didn't get one (and forgot about it). No follow-ups, no nothing. Got a call today from a CA (MediCredit, odd for a utility company), and did the stupid thing of paying it, while the wonderfully nice lady on the phone said it wouldn't hit my CR if I paid.
Now I got an alert of a new collection.
What am I going to do other than watch my scores plummet. I have no recourse, I have nothing. I've worked hard over the last 6 years to repair my credit (well, no new credit, pay on time, etc), and now it's all screwed, over a failed business. The last negative would have dropped off in February.
Am I royally screwed? Anyone worked with them before? Any possible chance they would help? Any suggestions now that I made the mistake of paying/verifying debt?
Now I got an alert of a new collection.
What am I going to do other than watch my scores plummet. I have no recourse, I have nothing. I've worked hard over the last 6 years to repair my credit (well, no new credit, pay on time, etc), and now it's all screwed, over a failed business. The last negative would have dropped off in February.
Am I royally screwed? Anyone worked with them before? Any possible chance they would help? Any suggestions now that I made the mistake of paying/verifying debt?
Ok, so here is what I know at this point.
I called the agency back this morning (already paid them, so don't think a DV would work, would it?), and they said it shows that they have in fact NOT alerted the credit bureaus, and will not be.
I took another look at my alert, and followed the link in the e-mail, and I see the following on my FICO Quarterly Monitoring page
"9/2/2008
Changes in existing debt collection :
The collection agency 'Rjm Acq Fund'
was hired by Creditor 'Med1 02 Bank One First Usa Bank'
to collect debts on Account Number 'XXXXXXXXXXXXX8470'.
Status: Not Reported Balance: $0
More Info
9/2/2008
Changes in existing debt collection :
The collection agency 'Cavalry Port'
was hired by Creditor '11 Sprint Pcs'
to collect debts on Account Number 'XXX8304'.
Status: Not Reported Balance: $284"
Now, the first one is paid off, and has been for a long time, so why does the alert say it has a change? The second one is one that has been out there for almost 7 years, and as such, won't be resolving, due to SOL. If it doesn't go away like I believe it should, I'll PFD it.
Would the above be enough to trigger the monitoring to come back with "We've spotted some changes:
* A new debt collection is reported."
in the e-mail? If so, I'm in the clear.
Please let me know
I called the agency back this morning (already paid them, so don't think a DV would work, would it?), and they said it shows that they have in fact NOT alerted the credit bureaus, and will not be.
I took another look at my alert, and followed the link in the e-mail, and I see the following on my FICO Quarterly Monitoring page
"9/2/2008
Changes in existing debt collection :
The collection agency 'Rjm Acq Fund'
was hired by Creditor 'Med1 02 Bank One First Usa Bank'
to collect debts on Account Number 'XXXXXXXXXXXXX8470'.
Status: Not Reported Balance: $0
More Info
9/2/2008
Changes in existing debt collection :
The collection agency 'Cavalry Port'
was hired by Creditor '11 Sprint Pcs'
to collect debts on Account Number 'XXX8304'.
Status: Not Reported Balance: $284"
Now, the first one is paid off, and has been for a long time, so why does the alert say it has a change? The second one is one that has been out there for almost 7 years, and as such, won't be resolving, due to SOL. If it doesn't go away like I believe it should, I'll PFD it.
Would the above be enough to trigger the monitoring to come back with "We've spotted some changes:
* A new debt collection is reported."
in the e-mail? If so, I'm in the clear.
Please let me know