@ddemari wrote:Back in 2008 I let a 300 dollar capitalone card charge off. In 2011, midland credit management bought the debt and the collections began.
I did something stupid and dispusted the midland collection on my Experian report because it had zero information about the account and ya I shouldnt have done that.
After that, the collection began showing up again under MCM as seriously past due in the amount of 927 dollars. They are now updating it every month with a date opened of 3/2011.
Even though the original charge off will fall off my report next year, Midland plans on collecting for a long time. In the last letter I received, they stated since the debt is old we will not attempt to sue you but we will report this to the CRA's until you pay.
If you pay the deal we are giving you of 600 we will report your account as paid in full and stop negatively reporting to the CRA's monthly.
I want them and this off my back! Recently, I was on the phone with BOA and they said if I handled any old collections on my account it would reflect positively.
Should I just pay this off?
That doesn't mean they will remove the baddie, just that they will stop updating it, which they would have to do anyway if paid.
What's the SOL of your state? If it's passed, I'd counter with $200.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
@ddemari wrote:
The SOL is 5 years and this is 6 old. I did notice on the statement I received it said your credit report will not be updated if the federal reporting period has expired.
What does that mean?
That means if it has passed the CRTP (which it hasn't yet) then they can't update it on your report. But it has passed the SOL of your state, meaning they can't take you to court for it, so basically, it's a "please will you pay" type of thing now.
Do the counter and request removal.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Send it snail mail.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Acct.#XXXXXXXX
Dear collection type people.
You have sent me an offer on the above referenced account. Though I do not recognize such account and knowing that the statute of limitations on this debt has passed for my state, I would be willing to pay $XXX to have this account settled once and for all. By paying this amount, you will remove any and all entries made to any Credit Reporting Agency and will consider this account paid in full and satisfied.
Thank you,
ME
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
@Shogun wrote:Acct.#XXXXXXXX
Dear collection type people.
You have sent me an offer on the above referenced account. Though I do not recognize such account and knowing that the statute of limitations on this debt has passed for my state, I would be willing to pay $XXX to have this account settled once and for all. By paying this amount, you will remove any and all entries made to any Credit Reporting Agency and will consider this account paid in full and satisfied.
Thank you,
ME
Wow...that is great, I wish I would have seen this when I paid collection accounts a while ago. I posted two question in the rebuilding credit forums. Would you mind taking a look and let me know your thoughts? Thanks!
