Trying to rebuild, feel like a cat with its head stuck in a paper bag

[Calicurli]

I'd like to start off by saying that this site is so helpful!

For those who have or are rebuilding, I'd love to get your advice, please, on which way to go. I've read through various posts and familiarized myself with various methods of rebuilding but still feel overwhelmed.

I currently have 6 baddies on my report which I'm trying to resolve. These are from TU.

My goal is to rebuild so I can eventually get another car if I need to finance from a non-BHPH lot (I'd prefer to pay cash but live in an area where private party autos get snapped up like crazy so I need a Plan B; in the meantime I'm driving a very, very basic car which runs but won't last forever) and perhaps one day buy my 1st house. The baddies are the result of a time of unemployment (no unemployment pay - wasn't fired, long story) followed by my then-limited salary keeping the roof over the head of two people.  For a time I was able to make my monthly payment arrangements, however things changed and I fell behind again. 

I do not want to file for BK and was told I now make too much $ anyway.

By the time I was able to get a decent salary, my creditors were not willing to talk to me. Suffice it to say, 2009 was not my year. 

Unfortunately, I don't have the funds to PIF. I might be able to do a settlement but it would be waaay less than the original balance if the OCs would like it in one lump sum and I could only pay one at a time.

I also don't want to awaken the sleeping giant if time is what will help my score get back up. 

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Adverse Accounts:

• BofA CC - C/O. Bal: $5,365.00. Listed as "closed by consumer" though this is not accurate. In order for me to make payment arrangements on my past-due balance, they forced me to close the card. Date est to drop off: 3/2016. Currently have been contacted by one CA for payment but I'm on my 2nd round of DV with them because they still haven't proved I owe them.  The CA has not reported to any three of the bureaus.
  
  
  
• Bethpage FCU (Credit Union line of credit) - C/O. Bal: $4,933.00. Listed as "profit and loss writeoff". Date est to drop off: 6/2016.Was contacted by one CA, have not heard from them since I sent a DV letter.
  
  
  
• Citibank CC - C/O. Bal: $8,703.00. Listed as "closed by credit grantor". Is the same situation as BofA. Date est to drop off: 1/2014.  Currently am battling with a CA law office who has filed a suit in court claiming to represent Citibank. I am working on getting the suit dismissed because Citi no longer owns it.
  
  
• Discover CC - C/O. Bal: $6,757.00. Is the same as BofA & Citibank. Date est to drop off: 10/2015. Was contacted by a CA, they disappeared after the DV letter was received.
  
  
  
• Meriwest CU - Repo. Bal: $10,762.00. Date est to drop off: 4/2016. This is currently in litigation and has turned into a class-action lawsuit.  My lawyer estimates it will take about a year to clear this up and remove the mark from my credit report which means around December of this year.
  
  
  
• West Asset Mgmt - Collection (this was an old ER bill that I've been paying down, albeit slowly with everything else going on). Bal: $200.00. Date est to drop off: 2/2015.  Since I still have access to pay this down online, was wondering if it's worth it to go through the HIPAA process or just send a note to the ER who is the OC.

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Thanks to anyone who is able to help!

Message Edited by Calicurli on 03-06-2010 10:24 PM

Message Edited by Calicurli on 03-06-2010 10:26 PM

[RobertEG]

Hi Caliurli!  Thanks for posting!

I dont know what to offer.

I think the derogs on your CR are even deeper than the 4-5 collections and COs you post.

Each account had prior derogs on the original credior account, and each remains, from their individual date of delinquency with the original creditor, for 7 years from their indidivual dates of delinquency, notwithstanding the subsequent COs od CAs.

Then the charge offs hit, Each remain for 7 1/2 years from the DOFD on the OC account.

The obvious, but not practical, solution, is to pay each.

You have over $25,000 in charged off debt. 

I dont want to sound negative, but I must be honest,  I dont think your major effort now is in deletion of debt that is still on the books, it is in the realization of further collection an legal action that has yet to come.

List the date of derog of every debt,

Then hire an attorrney.

[Calicurli]

Hi Robert!

Thank you so much for taking the time to review my situation.

I'm not understanding "date of derog." Do you mean the date it became a C/O?

I never thought about hiring a lawyer for the other items.  

By the way, I don't think you sound negative at all.  Practicality is the truth.  I do wish to pay off each one of them but my concern is the OC wants a lump sum payment. I've tried contacting more than one and they only refer me to a CA.  I will not give up!

[Pushto700]

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@Calicurli wrote:

Hi Robert!

Thank you so much for taking the time to review my situation.

I'm not understanding "date of derog." Do you mean the date it became a C/O?

I never thought about hiring a lawyer for the other items.  

By the way, I don't think you sound negative at all.  Practicality is the truth.  I do wish to pay off each one of them but my concern is the OC wants a lump sum payment. I've tried contacting more than one and they only refer me to a CA.  I will not give up!

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Bump.

**Especially with regard to Discover. Friend recieved a dunning letter from CA (Bishop-White-Marshall) on behalf of Discover for 1600 bal DOFD 7/2008. I believe I have a plan of action, but would like to hear about your particular situ before I advise them.

Message Edited by Pushto700 on 03-10-2010 09:33 AM