Is it worth paying? Please Help!!
Date: Mon, 11/24/2008 - 16:02
I opened this account/card in the yr 2002 and then stopped making payments in sometime 2003 or 2004. The account is with Unifund with all the wrong dates on it. The account details say that the first delinquency was filed in 2002. But in fact I barely got this card in the end of 2002 so that information is not correct. Though the account number listed is same as on my card.
The Experian CR suggests that this account is due for deletion sometime in 2009. Now if I believe “my†dates, the information in the report is not correct. But if I believe in the dates mentioned in the account, yes, it should be deleted in 2009. I have disputed this account with the CRs and it came back verified.
I am planning to buy a house and want to clear off as much mess from my CR as possible with in next couple of months. As mentioned this is the ONLY account left in my cleaning process. I am so confused about what to do in this case.
Should I just wait for another few months for it to go itself? What if eventually Unifund finds out that they have the wrong dates and this account should be there for another few years?
What if I voluntarily call Unifund and offer them settlement? I think this will actually wake them up and can work against me. I don’t want to pay the whole amount and would rather pay them about 40% of the org amount.
Please help me by suggesting me my options.
insurance
I'm not an 'expert' in this field, but..I just want to give you alittle advice on MY 'personal experience' with this. If you know that the SOL date is sometime in 2009, I would wait until the SOL is up. THAT way, if you want to 'dispute' it again, you would have a better chance to do so.....what is the SOL for 'your' state? Do you know? Please 'update' me on this issue. Thanks.
debt
ALSO..forgot to tell you.......if this debt is ALREADY on your CR, if you start paying on it again, you will 're-age' the debt. That means that you will be 'restarting' the debt over and the SOL would be another how-many-years, from the time you made you 'first' payment ( ie..if you made a payment today, the SOL would re-start from today.) in 'your' state. Hope you understand what I mean.
If you really want to make your account clean then it is better
If you really want to make your account clean then it is better to negotiate with the original creditor and not with the collection agency. According to me if you really want to settle the account then call the original credit card company and ask whether the debt is still with them or has been sold to debt collector, Unifund. If the debt is still with the original creditor then settle the debt with them.
For more clarity, please go through the section mentioned below: -
Source: - "http://www.bankrate.com/brm/news/debt/20070122_debt_collector_settle_a1.asp#1"
debt
Yep.....if the SOL wasn't just 'around the corner', I probably WOULD try and settle with the OC. An OC is easier to deal with than the CA...that's true.
The SOL in my state is 6 yrs. If I go by the dates mentioned on
The SOL in my state is 6 yrs. If I go by the dates mentioned on the account, it is well passed the SOL. My other concern in contacting the CA is to invite them to check on the dates. And I agree with sdchargers that it will turn my account into an active one.
My only diemna in all this is my plan to buy a house. I don't know I would be better off paying this debt. In all, I am not sure if I should contact Unifund or not.
Somehow I am inclining towards letting it come off itself. I agr
Somehow I am inclining towards letting it come off itself. I agree that paying it now will reset my timeline for SOL and deletion. The only concern I have -
Can they still get me into some kind of litigation? And how this account will effect my loan shopping?
I am thinking that it is better to wait now and pay it if necessary when the loan ppl will ask me to do so.
Please share your experiences and give me some inputs.