Hi Forum...my journey begins...with a question

[Anonymous]

Hi everyone,

My story of less than desirable credit is probably the same as a lot of peoples...bad decision making during college.  My credit score is about 600 (Experian).  I have a number of "blemishes" that I'm going to try to get fixed or at least touched up.

For example, I have about a year of horrible Direct Loan payments (a couple 120 day late notices), however since consolidating I have not been late for the last 40 months...in fact have overpaid a little.  I figure a GW is the way to go here.

My first question (I'm sure there will be others) is around a CA account with Midland Credit Management.  I owe them a 2,400 debt, but it is due to fall off in 02/2012, according to my TransUnion statement.  I really haven't heard from them in awhile, but they last reported Feb. of this year.  Should I try to settle a PFD for around 700 dollars or should I just let it fall off.  I'm not in a big hurry, although I may switch apts. soon.  I'm not too concerned with that though because I have a good rental history and usually offer to pay a few months in advance.  If I go the "fall off" route, is there a chance they will do something prior to that to keep it on my report or possibly sue me?

Actually I have a second question.  I called a CA that has 3 accounts for me for 3 seperate parking tickets.  They want a total of $600 (original total was probably around 200 bucks).  He told me if I pay in full they would remove any record of the accounts, but if I did a comprised payment they would only be able to mark it paid.  Sounds like I'm close to getting it deleted, does a formal PFD sound like the next route to take?  By the way these are on my report until 2016 and since it's 3 entries it seems like I NEED to get these off.

Thanks everyone and nice to "meet" you.

Scott

[llecs]

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

Direct Loan - start GWing.

Midland - Your call. If I had that reporting, I would send a PFD. Even if SOL expires and CRTP expires, they can still collect, call, write, bug me, etc. forever. Now if I disagreed with them then that might be different; I'd probably drop the balance of the PFD offer to reflect what I thought I owed. They likely won't try to sue if past SOL. YMMV based on the state you live in and the type of debt. SOL clocks can run 3-15 years, so YMMV. Likely it has already expired.

For the parking tickets, send a DV letter for each account (even if it is to the same CA). If they verify and you agree, then send a PFD. If they agree in writing, then pay it and they'll delete.