Help Resolving Two Collection Accts!!

[Cynthia1123]

Hi Everyone,

I have a question regarding 2 Collection accounts:

- Enhanced Recovery for Dish bill $407 reporting on EQ and TU-Disputed but updated "Remains"

-One that is about to hit my reports but still hasn't for an AT&T bill-What should I do?

My Credit Score is 529 across the board, I have all cards maxed out.

What should I do to bring down the balances, is there a plan I can use to attack this beast?

Any help will be greatly appreciated.

Thank you

[Anonymous]

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@Cynthia1123 wrote:

Hi Everyone,

I have a question regarding 2 Collection accounts:

- Enhanced Recovery for Dish bill $407 reporting on EQ and TU-Disputed but updated "Remains"

-One that is about to hit my reports but still hasn't for an AT&T bill-What should I do?

My Credit Score is 529 across the board, I have all cards maxed out.

What should I do to bring down the balances, is there a plan I can use to attack this beast?

Any help will be greatly appreciated.

Thank you

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1. Pay all CC's down to under 30% and one with a 0$ balance.

2. Try to pay the ATT before it hits.

3. Try PFD

4. NEVER max your cards out again

Keep us updated.

[Anonymous]

AT&T, if you know its a valid bill, pay the CA with the agreement that they not report it. This is usually a very easy agreement to get. The dish account - how old is it?

[Anonymous]

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@Cynthia1123 wrote:

Hi Everyone,

I have a question regarding 2 Collection accounts:

- Enhanced Recovery for Dish bill $407 reporting on EQ and TU-Disputed but updated "Remains"

-One that is about to hit my reports but still hasn't for an AT&T bill-What should I do?

My Credit Score is 529 across the board, I have all cards maxed out.

What should I do to bring down the balances, is there a plan I can use to attack this beast?

Any help will be greatly appreciated.

Thank you

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Hard to give any advice on that without knowing details - balances, limits, interest rates, minimum payments, and how much over and above the minimums you can budget towards them.

[Cynthia1123]

Hello NormanFH,

Thanks for the prompt response, so I've contacted the bureaus for the one collection I have at the the moment, I had this reported previously and delted by EQ and Ex and now it's showing up again so I've sent them their results letter. Hopefully they will delete.

As for the collections that's not showing up yet, I contacted the "collections agency" that it's with now, it turns out they work with ATT to resolve debts before going to an actual collections agency. They don't report anything, they said that after them it will go back to ATT and then they'll decide what to do if not resolved yet.

My question is:

-How do I know that if I do a payment plan that midway they won't report?

-Does this sound legit? Their name is Credence Resource Management

As for my cards, I have a $4100 credit limit of which $3782, 92% utilizaion is used, my question is how much should I bring the cards down? As of right now these are my balances: As of right now all of my min payments are $25 except for First Premier which is $40.

Credit Card Credit Limit Balance Reported By

CAPITAL ONE BANK USA	$300	$345 (115% utilization)	Equifax
FIRST PREMIER $700 $716 (102% utilization) Equifax
SYNCB/OLD NAVY $700 $685 (98% utilization) Equifax
CAPITAL ONE BANK USA $500 $486 (97% utilization) Equifax
BEST BUY/CBNA $1,000 $931 (93% utilization) Equifax
THD/CBNA $500 $461 (92% utilization) Equifax & TransUnion
Walmart $150                     $41.51 (28% utilization)
Victoria Secret $250             $117.84 (46% utilization)

[Anonymous]

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@Cynthia1123 wrote:

Hello NormanFH,

Thanks for the prompt response, so I've contacted the bureaus for the one collection I have at the the moment, I had this reported previously and delted by EQ and Ex and now it's showing up again so I've sent them their results letter. Hopefully they will delete.

As for the collections that's not showing up yet, I contacted the "collections agency" that it's with now, it turns out they work with ATT to resolve debts before going to an actual collections agency. They don't report anything, they said that after them it will go back to ATT and then they'll decide what to do if not resolved yet.

My question is:

-How do I know that if I do a payment plan that midway they won't report? Get a verbal agreement and record your call - its legally binding and they know that. It costs them money to report a new collection, and it cost them to delete a previously reported collection. Thats one reason PFDs are hard to get, and Pay-to-NOT-Report is a very easy agreement to get.

-Does this sound legit? Their name is Credence Resource Management Google them and see what you find.

As for my cards, I have a $4100 credit limit of which $3782, 92% utilizaion is used, my question is how much should I bring the cards down? As of right now these are my balances: As of right now all of my min payments are $25 except for First Premier which is $40.

Credit Card Credit Limit Balance Reported By

CAPITAL ONE BANK USA	$300	$345 (115% utilization)	Equifax
FIRST PREMIER $700 $716 (102% utilization) Equifax
SYNCB/OLD NAVY $700 $685 (98% utilization) Equifax
CAPITAL ONE BANK USA $500 $486 (97% utilization) Equifax
BEST BUY/CBNA $1,000 $931 (93% utilization) Equifax
THD/CBNA $500 $461 (92% utilization) Equifax & TransUnion
Walmart $150                     $41.51 (28% utilization)
Victoria Secret $250             $117.84 (46% utilization)

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I would make the first priority to get any card thats maxxed out paid down to below 80% of so. Then snowball it from smallest to biggest.