In need of Knowledgeable advice to pay off some debts
Date: Tue, 02/26/2008 - 06:07
afni,which was a old singular bill for 1238.00 due to delete off report 11/2009. Placed for collection in 12/2004. Should I do a debt validation letter or just see if they will reach a settlement with a paid in full.
BOA, repossessed car, 1201.00, due to delete in 12/2009. Never placed with a CA, still lists BOA as original creditor 10/2005. I'm sure that they can validate this debt, so should I ask for a settlement.
Activus Financial LLC, and BOA CC have same acct listed on credit report, BOA has listed that it was purchased by another lender due to delete in 10/2009. Activus purchased the debt 01/2008 6937.00, due to delete 10/2009. The people are shady, they said they were going to arrest me for felony theft, so I came to agreement with them to pay a certain amount every week, they took out 2 payments and then stopped, then 4 months later started again. I placed a stop payment on the last debit. Advice?
Capital One note loan, which they got a judgment for. No collection agency listed on my CR reports for this one. Can you offer a settlement on a judgment?
Last one, Capital One CC, 5255.00, original credit line 1500.00. No credit report listed again. Due to be erased 10/2009.
I really appreciate any advice. I am trying to pay the first two off this week, (singular, and the BOA repossession) so any advice on those two in particular would be great for right now.
Hi Marci-- OK, I will take these one at a time, since they al
Hi Marci--
OK, I will take these one at a time, since they all have different circumstances.
First, your afni Cingular bill. The first thing you ALWAYS need to do with any collection agency is send them a certified letter requesting validation of the debt. Thats what I would do there, and how you proceed will depend on how they handle that request.
Next, the BoA repossession--there is no validating the debt with the original creditor. If they still own this debt, then validation does not apply. The Fair Debt Collection Practices Act is the federal law that requires validation, but it is only aimed at third-party collectors, so any debt that is still with the original creditor, with no collection agency involved at all, the fdcpa doesnt apply. I would contact them about making arrangements or perhaps offer a settlement, if you like.
Third, the Activus debt. First thing here--you need to dispute the fact that the same debt is on your credit report twice, by two different companies. Dispute that with the credit reporting agency(Trans union, Equifax, or Experian) and they should remove one of those. OK, if they have threatened to have you arrested, then they broke the law, big time. Before you pay one more penny you need to send ACtivus a certified letter requesting validation of this debt. It isnt so mush to establish whether ir is yours or not, you already know that, but it is to confirm the amount they claim you owe, and to make sure that any charges added to your balance are legal.
Also, what state do you live in? There is something you might be able to do about them telling you that youre going to get arrested....
On to Cap ONe, the judgment. You can always offer a settlement, but thats no guarantee they will take it. Sometimes, they will because collecting on a judgment is problematic sometimes. You never know, the worst they can say is "no". But dont be too upset if they do say no, because after all they have a right to collect the full amount you owe.
The Cap One credit card, the only thing you can do with that at this point is contact them about it. They may not even own it anymore, and the new owner might not report or they might have reported it to one of the other credit bureaus instead of the one you looked at.
I hope this info is helpful, and I wanted to give you a thumbs-up for taking responsibility with your debts! Thats the right frame of mind to have, and if you keep that, it will only be a matter of time before you are out from under this rock!
After you pay something you can wait a bit then try and dispute
After you pay something you can wait a bit then try and dispute if off of your CBR. Many times it will just get removed.
Skydiver, Thanks for the great advice. I will be sending afni a
Skydiver, Thanks for the great advice. I will be sending afni a DV letter this week. As far as the BOA car repo, just got off the phone with them, and they said they no longer own the debt, they sold it to Helco. Helco, never reported on my credit report. It's just the OC. So what would be the next step? A DV to Helco?
yes, that would be the next step....let us know what you find
yes, that would be the next step....let us know what you find
What state are you in? Typically, there is a 4 year statute of
What state are you in? Typically, there is a 4 year statute of limitations period. If it has been 4 years since the debt was incurred, or a payment made, they have sat on their rights, and have no right to the debt. DO NOT PAY THESE DEBTS.
On the debts that come off your credit in the next 2 years, I would not pay those. If you pay them, you start the 7 year date over again.
PA has 4 year statute of limitations period. After that, the de
PA has 4 year statute of limitations period. After that, the debt is no longer enforceable.