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 Posted: Mon Mar 17, 2008 4:48 pm |
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I'm in process of fixing my credit history. There were couple debts on my credit report. I've contacted the student loan debts and joined the rehab program. As for the cc debts, all of them have passed SOL, so my question is, if I want to clean up my credit history asap, where should I begin? Please let me know if the steps I'm planning to stake below is in correct order:
1. Contact each of the collection agency, validate the debt.
2. Once the debt is validated, write to them another letter, stating that the debt has passed SOL, however I'd like to settle for 20%-30% if they agreed to delete it from my credit history?
3. Pay the debt and get confirmation and report to the credit bureaus?
Also, I was so eager to pay my debt, when I got a call from some collection agency a few months ago, I went ahead and accept the settlemnt offer and paid Sunrise Credit Services over the phone $171 for a debt from Washington Mutual.
2 weeks ago, when checking my credit report, I saw the Washington Mutal debt was actually owned by RJM ACQUISITIONS LLC stating the current balance is: $72 ($243-$171). So what can I do now to clear this up?
Sorry for the long post.
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cidister
Joined: 01 Mar 2008
Posts: 8
Debtcc Points: 244
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| Posted: Mon Mar 17, 2008 6:39 pm |
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Did you get a paid in full letter from Sunrise? If so you need to contact RJM and let them know that you paid sunrise and to take it up with them and then dispute it on your CR. You have to watch out for Sunrise. They are pretty shady. I sent them a DV letter last year and they have yet to get back to me. They tried to get my hubby to admit to this debt when I yelled at him to stop talking and give me the phone lol. Then Sunrise hung up on me. SO be careful with them.
You plan looks ok, but, you can try for a pay for delete from your CR but most of the companies will not do that. But hey, it's worth a shot anyway, the most they can say is no. And if you call and get into a settlement you need to have them send you something by mail on their letterhead stating that this is the amount that is agreed to be paid and the account will be considered settled in full. If you do not get this in writing they will say no that wasn't the agreement and still try and get the rest from you and then you will have restarted the SOL dates by making a payment to them. But please check out the CA's on here or on the BBB to see what you are getting into before you send out any letters. Because some of them like to take you to court when you send out letters. And when you do send out your letters make sure you send them Cert. mail with return receipt requested. This way you have proof that they got it, plus keep a copy of the letter for your records also.
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puddlejmpr
Debt Samaritan
Joined: 15 Dec 2006
Posts: 1178
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| Posted: Mon Mar 17, 2008 11:26 pm |
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Thanks puddlejmpr. I did not get a paid in full letter from Sunrise. I didn't know these collection agency can be that shady. I'll be more careful when dealing with the rest of my cc debts.
Also, if the SOL expires, they can not take me to court even if I send them settlement letter right?
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cidister
Joined: 01 Mar 2008
Posts: 8
Debtcc Points: 244
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| Posted: Tue Mar 18, 2008 3:30 am |
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'Cidister'....if they DO take you to court, of course you need to show up. If you have PROOF the SOL expired, then you wouldn't have to pay anything more on it. THIS proof you need to show to the Judge, of course. however, I'm NOT saying hey will take you to court. Good luck.
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sdchargers_63
Joined: 08 Aug 2007
Posts: 866
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| Posted: Tue Mar 18, 2008 3:59 am |
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Sdchargers 63, just want to clarify if I'm correct on this:
If the SOL expires, they can take me to court if they want to and I have to show up. However, if I can proof that SOL expires, I don't have to worry about repaying right?
Also, if SOL expires, and I still want to settle (for credit report deletion purpose), I'm going to send them settlement offer. Will this cause my SOL to restart or it doesn't affect on the SOL at all?
If I blindly made a payment before negotiating with them, it's my loss right?  It will be up to them to send me a payment in full or continue to recover the rest of the debt right? (It'll be  if that's the case)
So am I thinking correctly? Thanks!
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Guest
Debtcc Points: 100
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| Posted: Tue Mar 18, 2008 4:01 am |
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How come sometimes I'm posted as my username, sometimes I'm Guest???
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cidister
Joined: 01 Mar 2008
Posts: 8
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| Posted: Tue Mar 18, 2008 4:12 am |
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| Guest wrote: | Sdchargers 63, just want to clarify if I'm correct on this:
If the SOL expires, they can take me to court if they want to and I have to show up. However, if I can proof that SOL expires, I don't have to worry about repaying right? |
Right. You offer the fact that the debt is 'time-barred' or beyond the SoL as an affirmative defense. You may very well have to prove it, but maybe not. Has the CA in question validated the debt? If not, that's your first step. There's a good DV letter template here. Or you could just ask for validation in discovery.
| Guest wrote: | Also, if SOL expires, and I still want to settle (for credit report deletion purpose), I'm going to send them settlement offer. Will this cause my SOL to restart or it doesn't affect on the SOL at all?
If I blindly made a payment before negotiating with them, it's my loss right? It will be up to them to send me a payment in full or continue to recover the rest of the debt right? (It'll be if that's the case)
So am I thinking correctly? Thanks! |
Making a payment does indeed restart the SoL clock. Best that you do something about that one. On the others... If you're certain they're past SoL but not past FCRA [credit reporting] age, you could try settlement, or possibly a pay-for-delete offer.
Hope this helps.
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The four 'no's of dealing with collectors:
No validation?
No payment.
No way!
No kidding!!
 Economic Stimulus information from the Infernal Revenue Sadists
Tellin' you all the zomby troof
Here I'm is, the zomby woof
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unclewulf
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| Posted: Tue Mar 18, 2008 5:20 am |
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unclewulf, thanks! I'm gathering all my debts information and preparing my re-payment strategy. Should I start with the highest balance first? Or the one with the earliest credit history remove date?
I have 5 debts that I want to start paying.
1. $5476 - will remove 9/10
2. $3430 - will remove 5/10
3. $746 - will remove 12/09
4. $434 - will remove 11/09
5. $243 - will remove 6/09 (This one has a balance = $72 - The one I blindly paid $171 for)
Thanks so much for all your help!
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cidister
Joined: 01 Mar 2008
Posts: 8
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| Posted: Tue Mar 18, 2008 5:23 am |
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Just wanted to add to my post above, I'm also paying 3 of my student loans at the moment. Should I wait 'til I paid off the student loans?
Again, thanks so much for helping me getting through this!
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cidister
Joined: 01 Mar 2008
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| Posted: Tue Mar 25, 2008 2:54 am |
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I haven't gotten any comments/replies/advice since my last post... Does anyone have any comment on which debt I should start concentrating on first? Help is greatly appreciated!
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