Where to start with Collections? Any Help??

AY27 · ‎06-12-2020

Hi Everyone, I hope someone can help me with any advice.

I have 13 accounts that are reporting as Collections.
I have one open account that I am an AU on. It is what is keeps me having any type of relevant score. (60+ on-time payments, open for almost 7 years now which is helping my AaoA.)

I have a few questions as to how to begin trying to repair my credit.
First off, two accounts I have are:
Barclays CC (never sent to collections only marked as closed by creditor) - DoFD: 9/1/2014
Capital One (now in collections with Portfolio Recovery) - DoFD: 10/1/2014
I am aware that these two accounts will reach the SOL in close to a year. I plan on just letting them age out at this point.
What do I do when they reach the 7-year point? Will they just automatically fall off? How do I go about getting them off my Credit Reports?

My next question is out of the 13 accounts, 7 of them are Medical bills. I was hospitalized in 2015 and again in 2018/2019 for a liver transplant. Most of them are still fairly new. They were sent to collections before I got back on my feet after surgery and was not able to pay them. I do now have the funds to pay them.
What steps should I take as far as trying to pay them or sending DV letters to see if they can even prove they are mine? Specifically the older ones. (I know they are mine, but isn't there some type of discretion regarding HIPPA Laws??)

The other Collections accounts date back to 2015 being the DoFD and two with 2018 DoFD
Would it be wise to send DV letters to these accounts to see what they can or can't prove and then move forward with negotiating PFD?

I'm sorry if this seems all over the place. I tried to keep it simple and not long-winded. I just am at a loss of where to begin. I know the direction I want to go, but any advice from you all would be so appreciated as I am not new to debt but I am new to trying to clean this all up and start growing new credit. Especially with the two biggest owed ones scheduled to fall off soon.

Thank you!

gdale6 · ‎06-12-2020

@AY27 wrote:
Hi Everyone, I hope someone can help me with any advice.

I have 13 accounts that are reporting as Collections.
I have one open account that I am an AU on. It is what is keeps me having any type of relevant score. (60+ on-time payments, open for almost 7 years now which is helping my AaoA.)

I have a few questions as to how to begin trying to repair my credit.
First off, two accounts I have are:
Barclays CC (never sent to collections only marked as closed by creditor) - DoFD: 9/1/2014
Capital One (now in collections with Portfolio Recovery) - DoFD: 10/1/2014
I am aware that these two accounts will reach the SOL in close to a year. I plan on just letting them age out at this point.
What do I do when they reach the 7-year point? Will they just automatically fall off? How do I go about getting them off my Credit Reports? You will not need to do anything the CRAs automatically exclude them at the right time and if the DoFD is 2014 then next year they will be excluded. There is an Early exclusion you can call TU for 6 months in advance of scheduled drop date and 1-3 months in advance with the other 2 CRAs.

My next question is out of the 13 accounts, 7 of them are Medical bills. I was hospitalized in 2015 and again in 2018/2019 for a liver transplant. Most of them are still fairly new. They were sent to collections before I got back on my feet after surgery and was not able to pay them. I do now have the funds to pay them.
What steps should I take as far as trying to pay them or sending DV letters to see if they can even prove they are mine? Specifically the older ones. (I know they are mine, but isn't there some type of discretion regarding HIPPA Laws??)

If you know they are yours then I would not mess around with a DV as they are only effective anyway if you send such within 30 days of a collector getting a collection, they must cease efforts until they do validate. If you live in TX you can ask for DV at any time under TX Laws.

Medical collections are some of the easiest to get removed from your CRs, here are the steps that you should follow to address them:

1. Call the OC and see if insurance can be billed, (or-rebilled), collections ultimately paid by insurance get removed per new rules that came from CRAs settlement with 22 state AGs. If not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help, this process cannot be discussed in any forum of myFico.

The other Collections accounts date back to 2015 being the DoFD and two with 2018 DoFD
Would it be wise to send DV letters to these accounts to see what they can or can't prove and then move forward with negotiating PFD?

I'm sorry if this seems all over the place. I tried to keep it simple and not long-winded. I just am at a loss of where to begin. I know the direction I want to go, but any advice from you all would be so appreciated as I am not new to debt but I am new to trying to clean this all up and start growing new credit. Especially with the two biggest owed ones scheduled to fall off soon.

Thank you!

Anonymous · ‎06-12-2020

@AY27 wrote:
Hi Everyone, I hope someone can help me with any advice.

I have 13 accounts that are reporting as Collections.
I have one open account that I am an AU on. It is what is keeps me having any type of relevant score. (60+ on-time payments, open for almost 7 years now which is helping my AaoA.)

I have a few questions as to how to begin trying to repair my credit.
First off, two accounts I have are:
Barclays CC (never sent to collections only marked as closed by creditor) - DoFD: 9/1/2014
Capital One (now in collections with Portfolio Recovery) - DoFD: 10/1/2014
I am aware that these two accounts will reach the SOL in close to a year. I plan on just letting them age out at this point.
What do I do when they reach the 7-year point? Will they just automatically fall off? How do I go about getting them off my Credit Reports?

My next question is out of the 13 accounts, 7 of them are Medical bills. I was hospitalized in 2015 and again in 2018/2019 for a liver transplant. Most of them are still fairly new. They were sent to collections before I got back on my feet after surgery and was not able to pay them. I do now have the funds to pay them.
What steps should I take as far as trying to pay them or sending DV letters to see if they can even prove they are mine? Specifically the older ones. (I know they are mine, but isn't there some type of discretion regarding HIPPA Laws??)

The other Collections accounts date back to 2015 being the DoFD and two with 2018 DoFD
Would it be wise to send DV letters to these accounts to see what they can or can't prove and then move forward with negotiating PFD?

I'm sorry if this seems all over the place. I tried to keep it simple and not long-winded. I just am at a loss of where to begin. I know the direction I want to go, but any advice from you all would be so appreciated as I am not new to debt but I am new to trying to clean this all up and start growing new credit. Especially with the two biggest owed ones scheduled to fall off soon.

Thank you!

For the 2 accounts in 2014, i would pull all 3 CRs from Annual Credit Report for free (no scores) and this is free to do weekly through 4/2021.

If you want them off a littpe early here is what you do:

Look specifically at the "date of estimated removal" for TU and call 6 months (on the 1st of that month) and kindly ask for EE via a supervisor.

Then on EX look for "on reports until" they allow 3 months EE, but that date has 2 months baked in, so call the dispute department exactly 1 month prior to that date, but be clear it is not a dispute, and again, kindly request EE.

EQ has DoFD, as you mentioned above. Do nothing with them, they make matters worse regarding EE. They have been known to naturally drop off a little early, 1-4 months early. But no matter what just let those fall off naturally.

The dates should be similar, but I have jnown across the 3Bs that they each may have a different date within a few month of each other for when 7 years from DoFD is.

Good luck!