Hello,
I have finally taken a deep breath and had a look at my reports from all 3 CRAs. I have never done this before, which has been a mistake on my part, but lesson learn. I have been looking over this site and forum looking for some real information on how to handle repairing my credit. So let me give you the scenario.
On my reports I have 52 CA accounts and 2 Judgments on my record with all three.
Only a couple of the CA are nearing SOL in my state. (OH).
I understand that these debts are mine and that they belong to me with the exception of one in which default judgment was enacted. I would assume though that it may very well be mine. Almost every one of these are medical debts with the exception of 2. I have never had a credit card but do have student loans currently deferred and in good standing. The student loans make up the majority of my debt, I believe they account for approximately 44,000.
I have recently put myself in a position of employment which now affords me the opportunity to start chipping away at the mess. The student loans still have some time in deferment. I want to start paying off what I can. This is where I am a bit lost. I read tales of sleeping giants awoken with frightful vengeance. Only a few of the CA debts will be difficult to pay off in full without properly saving for them. My intention is to pay as much of it in full if possible. If some are willing to settle and I do not believe I have the funds to pay in full I may take them on their offer. I have received some of these offers already. Those companies have provided me with account numbers that have been verified by the OC.
There are only 5 different CA's on my report, however they have multiple entries. These amounts owed range from $37 to $1,375 and the DoFD Start at 2006 when my health issues began. Of one of these such CA's UBC. I could possibly pay of 8 of 12 entries in full after setting funds aside for 1 month. I am not sure how to approach this particular CA or any others where similar scenarios apply. My hope is that by making 8 of those accounts to 0, I reduce the risk of being sued and showing good faith to begin making payments on the remaining accounts in which the CA would be willing to delete these from my report upon the balances being brought to zero.
So the questions....
Do I need to DV know full well that these debts are mine?
Should I be afraid of submitting PFD's for only the account I can pay when the CA has more that I will owe?
Does making payments and reopening activity on an account cause your score to drop and then recover if payments are on time or paid in full?
They Judgments are being worked on and taken care of with regard to resuming an agreed payment plan. These will also be falling off soon due to SOL but I will continue to pay to completion. We have a very strict budget that allows us to pay bills easily and in an on time manner, while allowing us to put aside some to make payments for outstanding debt. I feel that paying of chunks like the smaller individual accounts will help us to mentally breathe a bit easier.
Now my score :s 590. To be honest I thought it would be way worse than that. While its still not good. It is fixable. We have opened a Secured CC and my wife and I have agreed it is never to be used with out the funds in our checking/savings to cover the payment in full that month. As well never to be used for cash advance.
I would appreciate any advice your community may be able to provide.
Thanks 
Welcome to the forums!!! First I hope you are in better health. Now take a deeper breath 1. You should sent letters for DV to all of these CAs because often they are sold Make a spread sheet to keep all your info up to date and easy to do these steps. When you DV send letters short and sweet . Could you list accounts DOFD if you know it amount, what it is for ie: utility/ medical bill/ cc name of CA I am in the middle of waiting for my last two baddies to come off and have some time on my hands, would like to help send more complete info and I can see where you should start.
Starting Score: 0Thanks, and yes in much better health. And thank you for your advice.
So to start here is just one of the CA's on my report and the accounts listed
UCB COLLECTIONS
---- All Medical----
DoFD - 07/2011 - $37
DoFD - 12/2010 - $68
DoFD - 06/2010 - $40
DoFD - 06/2010 - $195
DoFD - 06/2010 - $1,375
DoFD - 05/2010 - $54
DoFD - 10/2009 - $170
DoFD - 12/2009 - $60
DoFD - 05/2009 - $1,150
DoFD - 03/2009 - $53
DoFD - 06/2008 - $46
DoFD - 11/2005 - $353
The 2 larger amounts I just do not have the resources for to tackle them at the moment. We can save and take those out fairly quickly. My goal is to completely remove one CA from the account at a time. (or at least have the record show paid in full, satisfied, 0 balance etc...)
Do I need to create a DV for each of these accounts? I've though about contacting the OC's but I am pretty sure this has been written off and they will not be willing to work with me on these. I would like to pay these in full as I know that should they not delete them at least it would be known that I did pay the debt in full.
I was a bit confused about the DV thread. I am not sure whether the text in blue was considered to be examples of what to send or examples of what not to send. I have a filing cabinent, manilla envelopes, scanner, printer, stapler, and my trusty pen. I just need to figure out which way to go. Do I start with the oldest/newest or what I can afford?
Thanks again for any assistance you can offer.
Sincerely
BuckUp - (by the way that was not a way around a derogatory remark - just a nick noting its time to buck up and handle my business 
)
@Anonymous wrote:Thanks, and yes in much better health. And thank you for your advice.
So to start here is just one of the CA's on my report and the accounts listed
UCB COLLECTIONS
---- All Medical----
DoFD - 07/2011 - $37
DoFD - 12/2010 - $68
DoFD - 06/2010 - $40
DoFD - 06/2010 - $195
DoFD - 06/2010 - $1,375
DoFD - 05/2010 - $54
DoFD - 10/2009 - $170
DoFD - 12/2009 - $60
DoFD - 05/2009 - $1,150
DoFD - 03/2009 - $53
DoFD - 06/2008 - $46
DoFD - 11/2005 - $353
The 2 larger amounts I just do not have the resources for to tackle them at the moment. We can save and take those out fairly quickly. My goal is to completely remove one CA from the account at a time. (or at least have the record show paid in full, satisfied, 0 balance etc...)
Do I need to create a DV for each of these accounts? I've though about contacting the OC's but I am pretty sure this has been written off and they will not be willing to work with me on these. I would like to pay these in full as I know that should they not delete them at least it would be known that I did pay the debt in full.
I was a bit confused about the DV thread. I am not sure whether the text in blue was considered to be examples of what to send or examples of what not to send. I have a filing cabinent, manilla envelopes, scanner, printer, stapler, and my trusty pen. I just need to figure out which way to go. Do I start with the oldest/newest or what I can afford?
Thanks again for any assistance you can offer.
Sincerely
BuckUp - (by the way that was not a way around a derogatory remark - just a nick noting its time to buck up and handle my business
I had a good experience with UCB.. I paid in full, and then sent a GW letter and the account was removed in less than a week..
-scott
@rckstrscott wrote:
@proudnavymom wrote:
One thing to consider if you are sending a timely DV..... Once the CA receives your DV, a cease collection bar is put in place until they respond to your DV. Unless you live in Texas, there is no set period in which they must respond, so if you are interested in offering a PFD, your hands are kind of tied until they respond to your DV. However, if it is an untimely DV, I don't think any cease collection bar is in effect. Always send a DV CMRRR. I am keeping a notebook with copies of all DV's, PFD's, GW's that I have sent along with one of those plastic pockets that I put in any green card, post office receipts, certified mail receipts, letters returned because they couldn't be delivered or the addressee never claimed them (I do have one of these). I also file any correspondence that I have received from that particular creditor in the notebook along with the other information. I also place in this notebook any results of disputes that I have initiated with the CRA.
This is ONLY true if you are repsonding to a Dunning notification... after which, a DV does not have a cease collection bar, nor do they have to respond.
-scott
That's what I meant by a timely DV, but I guess I didn't explain it correctly. Thanks for clarifying that.
@proudnavymom wrote:
@rckstrscott wrote:
@proudnavymom wrote:
One thing to consider if you are sending a timely DV..... Once the CA receives your DV, a cease collection bar is put in place until they respond to your DV. Unless you live in Texas, there is no set period in which they must respond, so if you are interested in offering a PFD, your hands are kind of tied until they respond to your DV. However, if it is an untimely DV, I don't think any cease collection bar is in effect. Always send a DV CMRRR. I am keeping a notebook with copies of all DV's, PFD's, GW's that I have sent along with one of those plastic pockets that I put in any green card, post office receipts, certified mail receipts, letters returned because they couldn't be delivered or the addressee never claimed them (I do have one of these). I also file any correspondence that I have received from that particular creditor in the notebook along with the other information. I also place in this notebook any results of disputes that I have initiated with the CRA.
This is ONLY true if you are repsonding to a Dunning notification... after which, a DV does not have a cease collection bar, nor do they have to respond.
-scott
That's what I meant by a timely DV, but I guess I didn't explain it correctly. Thanks for clarifying that.
Nah, you clarified it correctly. I just assume if someone is new, they might not understand what 'timely' meant. To me, when i first started, I considered anything I did 'timely' after I discovered the debt, not when they supposedly sent a dunning
-scott
Hello,
Thanks again for the information. I am left a little confused regarding timely versus untimely DV letters. At this point there have been no Dunning Notices that I am aware of.
Today, however, my parents received a call at their house from another agency, Portfolio Recovery Associates. I have never lived at their address, since it was a new home built 3 years ago, nor have I given or used their telephone number with exception on the medical form for emergency contact. The debt with this CA DoFD is 4/05 and the SOL is next month. I acquired their number from my mother and am debating to call them for fear that the conversation may lead to legal action on their part. 
I would like to pay them but the amount on that particular bill is over 3 grand and I do not have those resources available. I have in the past request through phone conversations with them to submit me documentation regarding the debt. (this is before starting my recent research) I have not once gotten them to comply, but received the comment we have sent you this information before and will not send it again. Not sure what to do here. I have disputed the address last week as not being mine but it has not been removed as of yet. So far only 1 incorrect telephone number has been deleted.
Thanks again.
BuckUp