What is the best way to take care of this?
#1- Yesterday (10/6/07) I received a letter in the mail from Jefferson Capital Systems, LLC regarding a Sears account from 11 years ago. The letter states that NCO Portfolio Management placed my account with them for collection of $991.00. It appears that the settlement they are offering ($375)is tied to some kind of balance transfer to an Emblem Mastercard.
There is absolutely nothing regarding this account showing on my credit report, and hasn't in at least 4 years. Should I DV Jefferson, or just leave it alone?
#2- I have a derogatory account with BB&T for $1200. It is from a Mastercard that I got from them years ago with a $300 credit limit. I maxed the card out on a car repair, and I would estimate that I have paid them around $3000 over the last 6 years trying to get it paid off. Last year in August, I got so frustrated that I just quit paying on it (I know that was a really stupid thing to do).
I have received a letter from a collection agency regarding the account, but BB&T is the only one reporting the derogatory account on my credit report. The collection agency is not reporting to the CRAs. Which company should I contact? BB&T or the collection agency? If I pay BB&T, is it reasonable to ask for a "pay for delete", and should I try to settle for less than the $1200 they say I owe?
I really appreciate any and all constructive advice. Thank you!
Someone should be along to help you soon Guest! On the Sears on
Someone should be along to help you soon Guest! On the Sears one, I think you might be past the SOL, so I'm wondering too if you just leave that alone.
Both are good questions!
Questions to your question: #1-What state are you in? Sounds
Questions to your question:
#1-What state are you in?
Sounds to me like it is a joint marketing ploy...
#2-DV the Collection Agency and contact BB&T...but if not both, absolutely DV the CA.
On the eleven year old debt,do not accept this settlement as it
On the eleven year old debt,do not accept this settlement as it involves a new credit account.This would reset sol for court and reporting. Dv both debts certified return receipt mail.
What is The Best Way To Take Care Of This?
On the 11 year old debt dont bother with it, it will reset on your credit report for another 7 years, The sol has already past4 yrs ago so you are clear of that one. If you want to try and negotiate the other debt, the $1200 one, dont pay anything until you can negotiate a letter of deletion if you agree to pay $500 or $600. The reason I say about $500-$600 is because it most likely gone to a collection agency now and they would just be happy to get anything that you pay, so just negotiate first on an amount then ask for a letter of deletion, NOT a Letter Of Payment, this will mess your credit up more. The Deletion will clear that debt from your Credit Report.
