% to try to Settle accounts for and deleting paid items
Date: Mon, 03/02/2009 - 16:54
Also how can I go about asking that paid collection items get deleted from my credit account from the reporting company?
Lastly, I submitted a dispute to several items with Equifax on 01/28/2009, they still show my dispute as pending. What should I do know. I understand that after 30 days you can have these items taken off.
Thanks for your help.
It depends on how old we are talking. Do you have dates of the l
It depends on how old we are talking. Do you have dates of the last payment you made and also what state do you live in?
It can take up to 45 days for disputes to be finalized.
If it has been a long time since you paid on a debt and it was charged off, it may be time barred. This means that while you still legally owe the debt a creditor or debt collector cannot sue you by law. If they do you have the perfect defense and can also counter sue them for taking action that cannot legally be taken.
Never pay on a time barred debt. It can do many bad things for you. It can restart the statute of limitations opening you up to a lawsuit for mystery interest they never told you about. It could keep a debt on your credit reports longer.
That is just a few things. Debts usually fall off after charge off from your reports at 7.6 years. NEVER pay on a time barred debt. I must say that again and again. A debt collector or creditor had every opportunity to sue and if they fail to do so within the time limit, tough luck for them, now they get nothing.
I live in CA. I have 2 utility bills about 4 years old, a credi
I live in CA. I have 2 utility bills about 4 years old, a credit card with a balance of about 5000 last paid 2-3 years ago and several bad check collection accounts less then 100.00 that are less then 1 year old. What is the time barred limit in CA? Again what % do you think I should try to settle for.
Credit cards, charge cards and such are open accounts and the SO
Credit cards, charge cards and such are open accounts and the SOL is 4 years. I am pretty sure that utility bills also fall under that also as they have a varying balance. That is the maximum SOL for California. Anything over the 4 year SOL is time barred, pay nothing.
If the credit card is close to that, be on the lookout. If you get nothing in the mail from a debt collector then check your credit reports. Find out who owns the delinquent debt. You can do one of 2 things, do nothing and wait or send them a debt validation letter. Sometimes sending a debt validation letter can wake them up and they will start hounding you. That is why it can be best to just leave it alone if it is close to being out of the SOL. But if they are a crooked company you may want to DV them before they act on you with an illegal lawsuit.
When you say bad check collection accounts, do you mean you wrote bad checks or did you just simply overdraft on an ATM? Either way, what I would worry about is that the most. You will need to figure out who you owe the money to, if it is the bank or if it is a debt collector. Request validation if it is a debt collector to prove they have the right to collect and to get the amount you owe. Get an agreement in writing signed by them, then keep a copy for yourself after signing and then pay.
It is really hard to say what to settle for. The utility bills look like they are time barred, pay nothing if that's the case. The credit card looks pretty close to being time barred, pay nothing til we know who your dealing with and get validation. That could sometimes take a year and at that point could be time barred. If they send you everything you ask for then a good starting point for negotiations, depending on the debt collector, is 40% of the original amount, IN WRITING signed by them. No payments over the phone.
For the checks same thing, try to settle for around the same amount after validation if dealing with a debt collector.
Credit Card
The credit card is from Citibank and they have not sold it that I am aware of. It is still showing on my credit report as belonging to them.
If a debt is time barred then when do they fall off the credit report or can you then dispute it as being time barred and get it taken off.
I'm trying to raise my score so I can buy a home and want these things off my credit if possible.
they fall off your credit report after 7.5 years usually. I k
they fall off your credit report after 7.5 years usually.
I know you are trying to buy a house but almost nothing will help you by paying. It will still stay on your credit report and getting a pay for delete is highly unlikely. A paid charge off might help a little if at all but it will take time.
You will unlikely be able to negotiate a PFD if you are unwillin
You will unlikely be able to negotiate a PFD if you are unwilling to pay the entire balance. The best you could hope for would be "Settled in Full" notation
To pay or not to pay
I have credit account listing on my CR, a utility bill for $254 first reported 3/2004. Also I have a collections of $183 from 9/2003 which the company agreed I could pay $62.37. I wan these off of my CR. Sould I pay the settlement amount and how do I get them off of the CR as I am trying to raise my FICO score. PS I also have two Verizon accts that are paid..how do I get themoff of there? Thank you!
