Collections---I need help!!!

[Anonymous]

I have a collection from Hilco Receivables back in 2005.  The OC is wells fargo card for $3450.  I have a new inquiry but from a different collection agency Fidelis Recovery Solution.  Hilco Receivables is what showing on my credit reports.  Can I send a DV to Hilco Rec?  I am assuming they have sold my account to Fidelis Recovery Solution.  I need the best plan of attack for this account.

[Anonymous]

What is the SOL in your state?

What is your DOLA? DOFD?

Can you PIF?

[llecs]

That inquiry from the new CA could be for any debt. Don't assume they are collecting for Hilco. However, I'd keep an eye out for a letters or phone calls.

If you have all the money to PIF, then I would DV Hilco. And if I received a dunning letter from this new CA, then I would DV too.

[Anonymous]

How do I find out the SOL for the state of Arkansas?

[Anonymous]

I forgot to add that my DOLA is 2004, DOFD 2003.  I can PIF.  Would you recommend all or 50%?

(Debt is 3400.00)

[llecs]

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livebyfaith wrote:

How do I find out the SOL for the state of Arkansas?

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

[llecs]

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livebyfaith wrote:

I forgot to add that my DOLA is 2004, DOFD 2003.  I can PIF.  Would you recommend all or 50%?

(Debt is 3400.00)

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I like to offer all. But if it means saving $$$, then go for 50%. The more you offer the more likely they will accept a PFD.

[Anonymous]

For this credit card debt would I look at for my SOL- under written contracts or open accounts?

Written is 6 years and open accounts 3years.

[Anonymous]

SOL for open accounts, including credit cards, in Arkansas is 3 years.

If SOL has not been reset, the debt is beyond SOL with a DOLA of 2004.

If certain this is beyond SOL, I would DV the CA appearing.

I wouldn't do anything with the CA that did the inquiry, yet.

Wait and see what the DV results of the one currently reporting is.

[Anonymous]

Collection on debt to: 08 Wells Fargo

The collection agency "Hilco Rec" was hired to collect a debt of $3,450 originally owed to "08 Wells Fargo" on account number "XX[Edited]".

Collection agency [ Hilco Rec Original balance [ $3,450 Current balance  $3,450

Status [?] Not Reported

Date assigned [?] Jun 24, 2005

Date reported [?] Jul 10, 2008

Date last active [?] Not Reported

Date paid [?] Not Reported

Date closed [?] Not Reported

Original lender [?] 08 Wells Fargo

What resets the SOL?  How do I verify the correct DOLA? 

Edited to remove personal information. Please do not share personal information. Please read the myFICO Forums TOS.

-sidewinder

Message Edited by sidewinder on 08-25-2008 07:41 AM