First of all I'd like to say thanks to all who have helped with great advice so far.
I have three more questions:
Is there any way to stop CA's from selling your account over and over? I've heard (it may or may not be true) that every time a collection agency sells your account it starts the 7 year period over again.
Second, is there any way to have a legit hard inquiry removed from your credit report? My reason for asking this is because I tried to help my mother out in buying the house she was renting and I was was not approved.
Third, has anyone had any success in dealing with First National Collection Bureau? I am going to send them a PFD letter and I'm just curious as to my chances.
Thanks again.
Message Edited by Thresh on 04-17-2008 08:15 PM
Message Edited by Thresh on 04-17-2008 08:16 PM
I have three more questions:
Is there any way to stop CA's from selling your account over and over? I've heard (it may or may not be true) that every time a collection agency sells your account it starts the 7 year period over again.
Second, is there any way to have a legit hard inquiry removed from your credit report? My reason for asking this is because I tried to help my mother out in buying the house she was renting and I was was not approved.
Third, has anyone had any success in dealing with First National Collection Bureau? I am going to send them a PFD letter and I'm just curious as to my chances.
Thanks again.
Message Edited by Thresh on 04-17-2008 08:15 PM
Message Edited by Thresh on 04-17-2008 08:16 PM
Thresh wrote:
First of all I'd like to say thanks to all who have helped with great advice so far.
I have three more questions:
Is there any way to stop CA's from selling your account over and over? I've heard (it may or may not be true) that every time a collection agency sells your account it starts the 7 year period over again.The 7 year period is set by the DOFD, which is set by the OC. This date can NOT be changed once the account has been sent to collections/charged off. It only gets changed before reaching collection/charge off status IF you become current. As for keeping them from selling it......not really unless you pay it. If you request validation and they dont' respond or fail to fully validate, they can't resell-- they will send back to the OC and the OC will resell.
Second, is there any way to have a legit hard inquiry removed from your credit report? My reason for asking this is because I tried to help my mother out in buying the house she was renting and I was was not approved.Nope, but after 1 year it doesn't hurt and after 2 it is removed. Now if you have a strong relationship with the creditor they may recode as a soft, but I doubt it.
Third, has anyone had any success in dealing with First National Collection Bureau? I am going to send them a PFD letter and I'm just curious as to my chances.Sorry, can't help you there. You might search for them on these boards by typing their name into the seach box at the top of the page. It is right by where your username is displayed.
Thanks again.
Message Edited by Thresh on 04-17-2008 08:15 PM
Message Edited by Thresh on 04-17-2008 08:16 PM
Did I mention that you guys are great?
Oh yeah, rather than starting a new topic, hopefully someone will be able to help me with another question that has come up while browsing these forums till my eyes bleed.
Can I still use a PFD letter to a collection agency even though I contacted them and agreed to pay within a few days? I did this before finding these forums and perhaps I can also include a letter stating that since I spoke with them I did more research and now believe that I made an error in agreeing to pay them without having researched the accounts in question.
Thanks as always.
Oh yeah, rather than starting a new topic, hopefully someone will be able to help me with another question that has come up while browsing these forums till my eyes bleed.
Can I still use a PFD letter to a collection agency even though I contacted them and agreed to pay within a few days? I did this before finding these forums and perhaps I can also include a letter stating that since I spoke with them I did more research and now believe that I made an error in agreeing to pay them without having researched the accounts in question.
Thanks as always.
You sure can try-
In the future - Do not talk to CA's on the phone-
You just admitted the debt is yours, made a promise to pay (may reset SOL) and if you don't pay they can easily get a judgment-
Communicate in writting!!!!!!!!!!!!!!!!!
Thresh wrote:
Did I mention that you guys are great?
Oh yeah, rather than starting a new topic, hopefully someone will be able to help me with another question that has come up while browsing these forums till my eyes bleed.
Can I still use a PFD letter to a collection agency even though I contacted them and agreed to pay within a few days? I did this before finding these forums and perhaps I can also include a letter stating that since I spoke with them I did more research and now believe that I made an error in agreeing to pay them without having researched the accounts in question.
Thanks as always.