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I am at a loss - OC reporting closed account, balance due, 117% debt utilization

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Moderator

Re: Help with OC as owner of debt vs CA as owner of debt?

@Badazzbabe34  I have merged your threads together.  Please refrain from creating duplicate threads as it is a violation of the Terms of Service and creates confusion when information is spread out among two or more identical threads.

Message 11 of 16
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New Member

Re: I am at a loss - OC reporting closed account, balance due, 117% debt utilization

I apologize - I will clear up this up the best that I can. <mod snip>

The bogus information is Ad Astra Collection agency that is trying to tell me that a debt is mine when they have nothing proving that it is mine - Just sent me back a piece of paper showing my name typed in with some sort of debt withdrawal sheet that shows no bank account number or bank name. Not my debt.

Another bogus one is Midland Funding that is not sending me anything to validate -  which they do not have to - however, they are moving the accounts out of one part of my collections into the section where I have the PIF debt collections - without me paying them a dime, that as well is bogus information. Not my debt

That is where the comment above got me flustered because at no point did I ever say that I made a payment to this company, yet they are moving it around in the collection section.

While all this was going on, I started to notice accounts with new TL stating that I am in dispute with them and an investigation is in review, I never disputed these accounts as they are in fact my accounts. (Kia Motor Finance with whom I have 2 closed paid in full leases)

Then I found TD BANK/TARGET is reporting one way, when I have a settlement letter (see other post by me) sent to me by a company called FirstSource and because of this, it is killing my credit and any chances of improving my score. 

I am in no way trying to "out wit, smart or last" any CA or CRA or the OC by any means. What I am trying to understand is -

1. Who own's my Target debt?

2. If Midland Funding cannot validate the debt, which again they don't have to, why are they moving these accounts into a "closed/paid" status? Are they doing this because I sent a DVL? 

3. How do I get everyone to report accordingly? 

I have debts on my credit that are truly mine and I pay on them every 2 weeks. I have closed charged off accounts that are in fact mine. I am to old to go to battle with a company that can do more damage then good, and cost me the home of my dreams in the end. 

I noticed recently that as I paid things off, lessen my Credit UTIL, and I have no missed payments in 12 months, my credit would springboard forward, then wham these companies come behind and do their reporting and I go right back down to 540-580 respectfully. 

Thank you again for your continued patience and understanding 

 

Starting Score: 535
Current Score: 580
Goal Score: 620


Take the myFICO Fitness ChallengeWorking to clean up my credit so I can finally purchase a house for my two little dogs and me. One day, one day.
Message 12 of 16
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New Member

Re: Help with OC as owner of debt vs CA as owner of debt?

Great. 

Starting Score: 535
Current Score: 580
Goal Score: 620


Take the myFICO Fitness ChallengeWorking to clean up my credit so I can finally purchase a house for my two little dogs and me. One day, one day.
Message 13 of 16
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Super Contributor

Re: Help with OC as owner of debt vs CA as owner of debt?

Whoa. I answered you on page 1. Helpful hints.

Message 14 of 16
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New Member

Re: Help with OC as owner of debt vs CA as owner of debt?

Sorry my posts are getting moved all around and I am not sure where you responded Firemedic1 I apologize in advance if I mised it. I mean no disrespect. 

I am just lost on who's responding and where. 

Thank you if you did give me help.

Starting Score: 535
Current Score: 580
Goal Score: 620


Take the myFICO Fitness ChallengeWorking to clean up my credit so I can finally purchase a house for my two little dogs and me. One day, one day.
Message 15 of 16
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Valued Contributor

Re: Help with OC as owner of debt vs CA as owner of debt?

If you are seeing different collection agencies for the same debt, sometimes original creditors will change the agency they use periodically.   That might be happening.   To find out which collection agency owns or is acting as agent for Target, I would write to Target and ask them so you get a response in writing.   Then contact that collection agency and offer to pay in full if they will delete it from your credit report, or if they refuse, offer them 35 - 40% as settlement.   I was a mortgage underwriter and whether a chargeoff was settled for less than the full amount or was paid in full didn't make any difference.  It was still a chargeoff.

If they are updating monthlly you need to get this debt settled.   And this is for such a tiny amount -- I mean $500 and they offered to settle for $200 in 2017 --- I mean if you go out to a fancy restaurant you can easily spend $200 for a dinner for two.   And you are trying to buy a house so you can certainly afford $200.... 

I sense you are very frustrated but you also seem to be challenging a lot of people on here who are graciously giving you their time and advice based on years of helping other people.   You should stop struggling and take their advice.   I say that kindly.    It's not like this is a $15,000 chargeoff.  

FICO 8: EX-775, EQ-776, TU-770 - [10/9/2020]
FICO 9: EX-804, EQ-843, TU-830 (10/9/2020)
Mortgage: EX-725, EQ-724, TU-744 - [10/9/2020]
NFCU NavChk 15K | NFCU Visa 50K | CapOne Venture Visa 50K | Barclay Aviator MC 12.5K | Discover It 37K | Alliant Visa 25K | BECU CLOC 10K | BofA AK Air Visa 5K |Amazon Prime 10K.
214.5K Total Revolving.
Alliant Auto Loan 2.5K/31K
BK 7 Filed 8/23/2013 - Discharged 11/27/2013.
Message 16 of 16
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