My girlfriend and I are trying to build our credit. I have absolutely no credit what so ever I recently took out a loan with eagle loan of Ohio, it was a loan that I didn't need I just did it because I knew I could afford the payments and to get the report on my credit file, the loan will be paid off from start to finish in a nine month time frame. My first question is that a long enough time frame to build any kind of credit?
Now my second question is my girl friends credit is screwed she has bad bad credit from when she was 18 She got a few credit cards and also over drafted a bank account. We was not together at the time but from the bank statements that she saved I can see that the overdraft was from a $13.22 purchase and she only hade $12.68 in the bank, But buy the time she caught it her account with all the fees was overdrawn well over $100.00. she recently received a letter from regent asset management it reads
US BANK
ORIGINAL ACCOUNT NO.DDA13**********
FILE NO........
BALANCE DUE. $996.46
Dear************
Regent recently offered you a reduced payoff on your debt. We have now provided you with multiple notices of this debt that you have continued to ignore. Your failure to take advantage of the settlement offer and your failure to contact our office to arrange a repayment plan is requiring us to enlist the assistance of an attorney in recovering this dept.
once the account is forwarded to an attorney, our attorneys are being instructed not to negotiate a reduction of the debt and not to accept payment less then the entire balance. you have been provided sufficient notice and opportunity to discuss a payment plan or a settlement offer if you in fact had any intention of repaying this debt.
if you would like the leniency of regent in discussing a repayment schedule or an opportunity to discuss a reduction in your dept,the time to act and contact us is now. it will take us a short wile to arrange for counsel in your area. during this time, we will continue to keep an open mind that it is the economy as a whole that has prevented you from paying your obligations. if you once again fail to respond,we will understand that you have no intentions of paying the bill unless you are sued and forced by the power of the law to honor your obligations.
regent asset management solutions
1-866-***********
This is from a debt collector it is an attempt to collect a debt
I want to know how i should handle this, Should I
A. get a attorney
B.pay the balance or
C.Do nothing
d. None of the above
Any help you could give us would be greatly welcomed.
