Hello all, First of all, I just want to say wow, this site is the best thing I could've ever been referred to!! I've been searching ever since I've become a newb (just a few hours ago) And it's like I'm in a whole new understanding of things. I've been repairing my credit bit by bit before this site, and now things are just becoming so clear! I want to thank all of you, with all the imput you give. It's nice to know, I'm not the only one having to face this craziness. Anyways, down to some business. I need a little help as far as the steps I should take concerning a Chargeoff C.C. account. I searched Chargeoff, and really did not come away with the appropriate steps. The credit card is a US Bank that I opened back in 02. It had a $1000 limit, and it was chargedoff. The revolving balance is 2200. Now, I made a small payment on it last year (niave), and I called about the account last month (where was this site ahhhh!) So now I'm at a crossroads. I'm sure with me calling, it reactivated some sort of timer. If not, just me paying on it last year would do it. So now, I need to figure out what steps I need to go about to get it taken off my account. Should I use a "Pay for Deletion" letter, or should I call back in and see if they can do a pay for deletion over the phone? or should I just settle for less. I honestly just want this off my credit report. ANY answers or insight will be greatly appreciated!!
Don't bet on that. FDCPA has something to say about that and you should study it and become familiar with it. I can give you the exact quote direct from the FDCPA but if I did that you would not gain the benefit of actually becoming familiar with the law and that is what you need, not somebody posting it and making it easy for you. Doing that don't help you at all. What helps you is telling you that the law exists and teaching you to do your own research. That's not what is important either. What good will it do you to fix your credit only to answer the door and find the sheriff standing there with a summons telling you that you must either answer the summons or they will put a default judgment against you? Then instead of just a bad tradeline for a credit card debt you didn't pay you will have a judgment and maybe a lien on your property if you own any. That will fix your credit real good. Credit repair is fine and I don't disparage people for doing it or at least attempting to do it. But what many fail to take into account is that all their hard work fixing their credit will go down the drain if and when they get sued. That's my opinion for whatever that is worth.
I appreciate the reply. And I definetly appreciate you pointing me in the right direction as far as looking into the FDCPA goes. I have no problem doing the work, as long as I know someone's been there and points me in the right way. I mean hey, I got myself into this mess...I'm the one that has to get myself out of it. The only reason I thought of trying to get it removed, is b/c of it being on there, with it reporting the negative remarks every month. Once again, I just may be misinformed and have to do more research.
Nothing wrong with thinking that way nor with trying to do something about it. As usual, things depend on your individual situation. If you only have one or two that could sue you then you can afford to spend time trying to fix your credit and get ready for the possible lawsuits a well. If you have multiple accounts that may cause problems then you should concentrate on learning law and how to defend yourself in court as well as how to sue them. It is far better to be a plaintiff in federal court than it is to be a defendant in any court.
