@Anonymous wrote:
I am just now starting to rebuild my credit after I completely trashed it when I was younger. I have about 18 derogatory accounts currently. 8 are in collections and 10 are closed/CO. Most of the closed accounts are set to drop off my report by August next year, so I am choosing to ignore those. I would think most of the collection accounts would be in the same timeframe to drop from my credit report, but I cannot find any information about when the delinquency first occurred on those accounts. So my first question is how could I go about finding when these collection accounts are scheduled to fall off? My next question deals with one of the CO accounts that aren’t set to expire for a while, but have passed the statute of limitations for my state. This particular CO is an old credit card account with last delinquency in Jul 2015, so a good 3 years until it drops. It is with JP Morgan Chase bank and the balance at charge off was about 12,000. I recently called them to see what they might be able to offer me in terms of a Settlement and they said about 7300. I told them I’d have to think about it, but I knew that was way to high because the ball is in my court. They cannot force collect and I am willing to wait out another 3 years if I can’t get a good deal with them. My question is how do I counter offer in these sort of deals. I’ve never negotiated debt before and I don’t even know how to bring up the topic of pay to delete with a settlement without offending them. I should mention that this account has not been sold, it is still with Chase internal recovery department.
Welcome. The best way for us to help is list out all the accounts. Generic help me's are hard to do without seeing the facts. List the accounts by Name of Creditor/Credit Line or Loan Amount/Balance/Charge Off or Closed Date
To see all the dates your asking about go get your free annual reports https://www.annualcreditreport.com/index.action
And get your 3 FICO scores from creditchecktotal.com for $1 and cancel before the 7 day trial ends. Then we can see what to tackle first on your road to recovery.
Kinda hard to read. Off hand the two accounts util are way to high. The one is over maxed at 89%. Killer. 2 open cards. One should be PIF each month and the other report ,8.99% for best scoring. If I am reading it right. 4 charge offs that were paid? The red numbers indicate the number of lates? If you could type it out it would help a lot. And with dates they were closed. The back and forth with 2 tabs isnt easy. Sorry.
What do the red numbers indicate when you click to open the account? Number of times late? To get the accurate info needed for you is to get your free annual credit reports to see the dates and everything else needed to figure this out. https://www.annualcreditreport.com/index.action
Then type out each account like this:
*Creditor Name/Credit line/Number of lates/Balance or charge off date and amount.
*Collection Accounts/Date/Balance
Then the total debt that you owe.
Looking at 3 pictures and trying to figure out what goes where. I dont have 2 computers to go back and forth to list it all. Sorry.
Well thank you for listing the accounts. I will be straight to the point. You are walking on the edge of some of those accounts at any time will start the legal process which could lead to judgements, wage garnishments, and years of trying to pay all this off. Especially Chase. And years of the accounts working against you until they fall off or you try to pay it all off. Your $25,500+ in debt if I added it correctly. Dont know your income.
But I never say go file BK. I say it like this. It would take less time to file and have a fresh start and rebuild better than where your at now. Than trying to settle and pay all this stuff off. Bluntly. Your in a world of hurt. Theres no way to say do this first and then do that. You got a load of bad debt working against you. I feel its time to speak to a lawyer and see what they can do for you. Nowhere to go but up. It cant get any worse. Sorry to be honest. But sometimes it just has to be said. Good Luck and whatever path you chose to go down.