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Non Collections VS Collections

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NikJ4
Established Contributor

Non Collections VS Collections

ok, I am almost done with opening up the walmart bag of mail. My next question is this: Should I start with the things that are NOT on my credit report first and pay and then work on credit report items? I guess I dont want to have anymore dings on my crdt if I can help it. Please advise as to what any of you think regarding this matter.
My current scores are 427 and 483 I know I have a lot to do. Thanks for any advise or help that can be offered,Too much to list so I will keep this general this way.
Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Non Collections VS Collections

Personally, that's what I would do so that nothing new shows up.  Then I would work on the "biggest baddies" first.
Message 2 of 10
Anonymous
Not applicable

Re: Non Collections VS Collections

List your baddies......who is reporting the OC  CA  or both?  What is the DOFD/DOLA    your SOL and the type of account.
 
When you say debt that isn't on your CR.......what do you mean?
Message 3 of 10
NikJ4
Established Contributor

Re: Non Collections VS Collections

HappyDays, I have so much to list I would be embarrased to list them all. Plus, I dont think this thread would hold all that to be honest. I have some things that are medical collections that are currently not on my credit report. I have other things that are on my credit that are just regular collections. This is not to even start with the stuff that i have lates on. Trying to organize all this mess is about to drive me crazy.
 
Message 4 of 10
Anonymous
Not applicable

Re: Non Collections VS Collections



NikJ4 wrote:
HappyDays, I have so much to list I would be embarrased to list them all. Plus, I dont think this thread would hold all that to be honest. I have some things that are medical collections that are currently not on my credit report. I have other things that are on my credit that are just regular collections. This is not to even start with the stuff that i have lates on. Trying to organize all this mess is about to drive me crazy.
 


Just hang in there.  I have been working on DDs CRs for three weeks and just mailed out my first letters.  DD had a total of 52 derogatories between the three credit reporting agencies.  I just got them organized enough to see exactly what was happening with each account, and I still have "issues" when looking for something.  Every CRA is reporting something different, # of accts, #of derogs, total balances owed, monthly payments, inquiries....seems as though nothing would match up.
 
My suggestion, go to Walmart and spend about two bucks getting a columnar pad.  The one I purchased has six columns, but I opened it up and used two pages, which gave me plenty of columns and space.
 
Start with medical collections.  I recorded each medical collection from EQ, lst, then started new pages for EX, and the same for TU.  Meaning, you should have three spread sheets for medical collections.  Post on the spreadsheet beginning with most recent to oldest, that makes it easy to see if they are in/out of SOL.  This also makes it easy to see what CAs are reporting to which CRAs.
 
Then, I did the same thing with non medical collections.   I posted newest to oldest, with each CRA having separate spread sheets.
 
Finally, for my own benefit I made a master list of medical/non medical collections.
Message 5 of 10
NikJ4
Established Contributor

Re: Non Collections VS Collections

what about the stuff that is not on the credit reports yet? Should I start with those and pay before I start with the crdit stuff. You are right. I have more than what your daughter has in total but it is each report has something different. That is what is bugging me.
Message 6 of 10
Anonymous
Not applicable

Re: Non Collections VS Collections



NikJ4 wrote:
what about the stuff that is not on the credit reports yet? Should I start with those and pay before I start with the crdit stuff. You are right. I have more than what your daughter has in total but it is each report has something different. That is what is bugging me.


I would do a separate sheet for those that are not reporting yet.  Get the list made, take a look at what you have on the list and what you can afford to pay.  If they are not reporting and it is a small amount try to PIF.  If it is a large amount try to make some type of payment arrangements with the creditors that you know you can meet each month.  Or just start sending in payments, just be sure to keep a copy of everything you send them, especially payments.  Just be careful about providing any additional information.  Personally, if I were going to make payment arrangements and pay a little at a time, I would send money orders for the payments.  I would not pay with check, they will have a record of your bank account information if you do.
 
Why don't you look at what is not reporting now and see if you can give us a list, maybe we can help you figure out the best way to do this.  You have to be careful because some CAs are known to mess  you over, even when they make an agreement.  A lot of the people on this forum have had dealings with these agencies before and they can tell you if they (CAs) will honor their word.
 
Let's keep anymore stuff from reporting and then we can deal with what is reporting.  We will help you get through this.  I know it's tough but we have a lot of very intelligent and talented folks on this forum that are more than willing to give free advice, I would take advantage of it.
Message 7 of 10
Anonymous
Not applicable

Re: Non Collections VS Collections

Personally, I know that it is overwhelming but I would work on them simultaneously.  Organize your data first- maybe you can dedicate a few hours one day to organize everything?  Spread it out on the kitchen table, have your highlighters, paper, pen ready and try to get everything in order.
 
I would contact the companies that aren't currently reporting and ask what their policy is on reporting to the credit bureaus.  Most companies will tell you this information.  I have one bill I have been paying down forever and they said as long as I cooperated they wouldn't put it on my credit report and they never have.  It is showing from the OC but not as a collection item.  From my understanding a collection is far worse than just a negative or charge off item.  When you call- take detailed notes- use a notebook or whatever works best for you and staple the information to the most recent bill.
 
It does take some time but the pay-off is great. 
Message 8 of 10
Anonymous
Not applicable

Re: Non Collections VS Collections



WantA1Credit wrote:
Personally, I know that it is overwhelming but I would work on them simultaneously.  Organize your data first- maybe you can dedicate a few hours one day to organize everything?  Spread it out on the kitchen table, have your highlighters, paper, pen ready and try to get everything in order.
 
I would contact the companies that aren't currently reporting and ask what their policy is on reporting to the credit bureaus.  Most companies will tell you this information.  I have one bill I have been paying down forever and they said as long as I cooperated they wouldn't put it on my credit report and they never have.  It is showing from the OC but not as a collection item.  From my understanding a collection is far worse than just a negative or charge off item.  When you call- take detailed notes- use a notebook or whatever works best for you and staple the information to the most recent bill.
 
It does take some time but the pay-off is great. 


I am very fortunate in that I have a separate area in our laundryroom/classroom (I homeschool DDs son) that I can spread everything out on.  You need to get a good feel for what you owe in non collections before you start calling anyone, so make a list. 

 Definitely gather all of your supplies, put them in a WalMart bag if you have to, just to keep them all together.  This makes the task easier if you have to start and stop in between kids, dinner, etc.

I would strongly advise you to be careful how much information you give a CA.  Have a plan before you call them and make sure they do not talk you into paying more each month than you can afford.  Personally, I would send them each $5.00 a month to start, they will take whatever you send.  It's difficult to give you advice when you don't even know what you are looking at.

Try to get as much down on paper as you can.  Separate medical from non medical and lets go from there.  Newest bills first so CR doesn't get slammed while you are doing clean up.  Yes, simutaneously, but separately.....we don't want anymore going on the CR if we can help it.


Message 9 of 10
NikJ4
Established Contributor

Re: Non Collections VS Collections

I can say that most of the medical stuff is still with Doctors offices and original creditors. I have one that is with a CA but they offered a settlement and it is NOT on my credit. ($24 dollars). How sad is that. That is how broke I am right now. Yes, I have been opening the two walmart bags and I have them all sorted. I did start a binder ( a big one at that) with everything in it so I would be able to locate them. I am working on the non collection stuff to get listed on spreadsheet. Plus I will be getting the stuff that is on the credit reports done next. My goal is to be done by this weekend. Not sure if that is realistic. This mess is taking up a lot of time. I need to have this done b/4 I start my new job on the 11th. Plus after that, I start school and the kids start school so I know I will be good and mental then.
 
Message 10 of 10
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