live after settlement
Date: Wed, 05/19/2010 - 14:50
First of all I'd like to share little bit of history, back in Nov 2008 I stop paying all of my and my wife's CC (total 18 cards, $180k) waited 60-120 days and start working on settlement. Paid about 55k-60k in settlements within 1-3 months period, last one August 2009 so it has been 9 months since anything negative was reported on our credit reports, we have left with mortgage payment and car payments, those never been late.
I have all documentation to proof that we have had agreements with OCs and CAs, kept cashier checks and print outs of e-checks from those directly taken of my checking, I setup new different checking account to move forward and used old one only to keep enough money to pay them what we agreed on in case they want to take more.
Both of our credits went down obviously, right now I think they slowly going up but very slow as time goes by not sure how else besides paying mortgage and car loans we could improve our credits currently at 625. We have tried to open secured credit card "Account Now" but it suck and I'll be closing it as they charge $12 monthly for having it and not reporiting fact that we acctually have this card so it is not helping us, they have program called credit builder that supposly reports usage of this card when I pay for utilities but it real does not there is no evidence that we have this card anywhere on our credit report and their customer service is helpless, in any case question no.1 what else can I do to improve our credits?
Question no. 2 is regarding how OCs and CAs are reporting those settled accounts, they all were handled similar way some of them I talked to OCs and other were already in CAs. I didn't either of them to pass 150 days late so they shouldn't be charged off, but regardless of that some off them are reported as "Paid As Agreed - Account paid for less than full balance" where others "Charged off account - Account paid for less than full balance" I cannot find any pattern why would they be reported differently other then the fact that those "Charged off" are Chase and AMEX where "Paid as agreed" everything else (Disc, BofA, HSBC, Citi, etc)
I'm guessing although they all show $0 balances and all are closed I think those "charged off" are hurting more then others, is this correct assumption. If so is there way to force Chase or Amex to report this as "Paid as Agreed for less then full balance" same way as other are reported?
anything else I should be doing now?
I have all documentation to proof that we have had agreements with OCs and CAs, kept cashier checks and print outs of e-checks from those directly taken of my checking, I setup new different checking account to move forward and used old one only to keep enough money to pay them what we agreed on in case they want to take more.
Both of our credits went down obviously, right now I think they slowly going up but very slow as time goes by not sure how else besides paying mortgage and car loans we could improve our credits currently at 625. We have tried to open secured credit card "Account Now" but it suck and I'll be closing it as they charge $12 monthly for having it and not reporiting fact that we acctually have this card so it is not helping us, they have program called credit builder that supposly reports usage of this card when I pay for utilities but it real does not there is no evidence that we have this card anywhere on our credit report and their customer service is helpless, in any case question no.1 what else can I do to improve our credits?
Question no. 2 is regarding how OCs and CAs are reporting those settled accounts, they all were handled similar way some of them I talked to OCs and other were already in CAs. I didn't either of them to pass 150 days late so they shouldn't be charged off, but regardless of that some off them are reported as "Paid As Agreed - Account paid for less than full balance" where others "Charged off account - Account paid for less than full balance" I cannot find any pattern why would they be reported differently other then the fact that those "Charged off" are Chase and AMEX where "Paid as agreed" everything else (Disc, BofA, HSBC, Citi, etc)
I'm guessing although they all show $0 balances and all are closed I think those "charged off" are hurting more then others, is this correct assumption. If so is there way to force Chase or Amex to report this as "Paid as Agreed for less then full balance" same way as other are reported?
anything else I should be doing now?
You may find the following link useful. http://www.debtconsolid
You may find the following link useful.
http://www.debtconsolidationcare.com/repair-credit.html
