I have 3 outstanding charge-offs on all three credit reports from a time where I fell extremely ill. I was actually hospitalized for Staph and my finances got out of control.
Anyway, here are the accounts I'm dealing with. I'm wondering if I should let them fall off (I don't know when they will), or try to settle them for less. I'm not in a position to pay them in full, at the moment.
Midland Funding (Comenity)
Last payment made on CC -- 10/16/15
Charged off — 5/12/16
Judgement on — 12/7/17 (State of KS)
-- Today, I found out this isn't actually with Midland, but with a law firm.
LVNV — last payment made on 10/16/15
-- Currently offering me 20% off.
PRA — Barclay
Date of last payment on CC 10/2015
Date of 1st Delinquency on CC 12/15
-- I think I'm most worried about this one because it's Barclay. I have read they don't like to be burned.
Any advice is appreciated. Thank you. 🙂
Actually, I just figured it out! I see some people are still having luck with EE. I will just wait the 4 months and attempt that. All 3 accounts DoFD were Dec 2015.
@CreditChemistry wrote:Actually, I just figured it out! I see some people are still having luck with EE. I will just wait the 4 months and attempt that. All 3 accounts DoFD were Dec 2015.
Correct, it appears all accounts will fall off this year by the end of the year; however, the one with Midland still presents a problem. Though the TL may fall off your reports and can't be re-reported, the actual debt itself will still be collectable due to the judgement.
@OmarGB9 wrote:
@CreditChemistry wrote:Actually, I just figured it out! I see some people are still having luck with EE. I will just wait the 4 months and attempt that. All 3 accounts DoFD were Dec 2015.
Correct, it appears all accounts will fall off this year by the end of the year; however, the one with Midland still presents a problem. Though the TL may fall off your reports and can't be re-reported, the actual debt itself will still be collectable due to the judgement.
Good to know. Thank you. It's not too terribly much. I think it's about $700 on the judgement. I will contact them and ask about settling. I only had a very small balance when it went to collection. I always PIF, so thankfully there wasn't this lingering longtime debt on that card. I think it had about an$6K limit at the time it went into default. My issue is losing the relationship I had with Barclays. I wonder if I PIF, if that would restore that relationship. I hear they have a long memory and a blacklist.
@vntrsc wrote:
You wrote "Today, I found out this isn't actually with Midland, but with a law firm."
More than likely, Midland is the judgment creditor. It hired the law firm to represent it in court, and the law firm is still representing the company to collect the judgment. That is standard procedure.
I think you are right. Midland has all the documents. I can view the entire account history, including the judgement, online. It is a default judgement. When they filed it, I didn't see a reason to contest it. I knew I owed them about $400, and was in default. Thankfully, they didn't ask the judge for extra interest. I had spoke with them on the phone and they told me if I agreed then there was no reason to show up. The legal aide had stated they wouldn't be asking for additional interest, since I called. So I just owe the original debt, plus the law fee. I'm thinking about just paying it off in full. The total is about $700.
@CreditChemistry wrote:
@OmarGB9 wrote:
@CreditChemistry wrote:Actually, I just figured it out! I see some people are still having luck with EE. I will just wait the 4 months and attempt that. All 3 accounts DoFD were Dec 2015.
Correct, it appears all accounts will fall off this year by the end of the year; however, the one with Midland still presents a problem. Though the TL may fall off your reports and can't be re-reported, the actual debt itself will still be collectable due to the judgement.
Good to know. Thank you. It's not too terribly much. I think it's about $700 on the judgement. I will contact them and ask about settling. I only had a very small balance when it went to collection. I always PIF, so thankfully there wasn't this lingering longtime debt on that card. I think it had about an$6K limit at the time it went into default. My issue is losing the relationship I had with Barclays. I wonder if I PIF, if that would restore that relationship. I hear they have a long memory and a blacklist.
I don't think they'd settle if they have a judgement on you. That allows them to collect the full amount. But certainly still try.
Also, Barclays pretty much blacklists for life.