I wanna start by saying thank you to everyone who contributes to these boards. I've learned so much reading and lurking here and find it almost amusing how in the dark i was about how important your credit rating really is. I actually started this journey a couple years ago... and even posted a couple questions. But before i could even get started repairing we ran into a pretty bad streak of bad luck financially and i was unable to really follow through. But now that things are back to normal financially i'm ready to take responsiblity and tackle these bad boys! 
So bare with me because i know i've got alot of questions and i'll try to just ask a few at a time.
I have three chargeoffs on my account. One from bank of america, one from macy's, and one from captiol one. They only total about 1600 so in a short amount of time i'm able to pay them in full, but i'm going to start with the smallest one first and work my way up from there. They all charged off at about the sametime. The one i'd like to address first is macy's.
| May, 2010 |
| Dec, 2002 |
| Nov, 2009 |
| Revolving |
| Individual |
| $309 |
| Complete Dept. Stores |
Descriptions [?]
- Charged off account
- Account closed by credit grantor
They are still reporting a balance so i know they haven't sold the debt. I've recieved a settlement offer from a ca called Capital Management Services with a 65% settlement offer. But they are not reporting to the cra's at this time. So i'm wondering what would be my first course of action be? To DV the oc or the ca? I've also read about asking the oc to withdraw from the ca and take back the debt? Do i do that after i dv?
They are still reporting a balance so i know they haven't sold the debt. I've recieved a settlement offer from a ca called Capital Management Services with a 65% settlement offer. But they are not reporting to the cra's at this time. So i'm wondering what would be my first course of action be? To DV the oc or the ca? I've also read about asking the oc to withdraw from the ca and take back the debt? Do i do that after i dv?
Try to do the PFD route first. Remember just paying them off will do nothing for your report. DV works for the CA, not the OC.
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.
@Anonymous wrote:i just wrote a pfd for the oc. I'm going to ignore the ca for now being that macy's still owns the account and the ca isn't reporting. Hope i'm on the right track with this! I'm still so new!
Sounds good to me! Keep on the path!
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.