Pulling my credit report last night, I have 2 bad accounts; a CC account that was charged off in 2009, paid in full; and this one, still in active collection from 10/2011 for $485.
OC was Community Bank, it's my old checking account. I had overdrew around $200 during their buy over from Citizens Bank. The switch over went afoul and provided many with false balances. They added their fee's which I told them I wasn't paying due to the errors on their end. I guess that wasn't stressed enough at the time and over the next few months they stacked fee upon fee and were soon charging me $485 to be in good standing.
So, I walked away from that bank. Opened a Credit Union account and never looked back.
With this report pulled last night, it is showing up as Creditor: Transworld Systems. OC: Community Bank. Opened 5/2011 Reported 10/2011. Balance $485. Condition: Derogatory. I have moved and changed phone numbers several times over the years so I guess when this went to collections they had no way to reach me.
Now, I am trying to fix my report and up my score which isn't terrible; 674 TU, preparing myself to apply for a $5,000 loan from my credit union. Being this debt is now 2 years old and SOL in NY is 6 years just wondering what should I do to best help my report and score. I am thinking of sending a PFD letter offering full payment just not sure if I should or seeing it's been two years to let it sit as is. I just don't want them to report again as a dispute or have anything bad dated 2013. Also Community Bank (OC) does not have this reported to any CRA so I'm worried if I do pay or contact them about it they could still add something new from themselves to my report.
This is my first time at trying any of this stuff but am finding the people and info on here to be a tremendous help. Hope to continue on my path to a better profile with your inputs and will continue to use everyones past experiences.
