Yeah, this is the 2 collection agency that my account has been assigned to. Yes,I tried to talk to the original creditor just 2 days ago,but they won't let me talk to a supervisor or anybody us. The keep telling me we sold the account or something like that,and they try to transfer me to the collection agency,so I said no I only talk to you guys. I can try again this is my 3 time I called them. I have another question please? I had two credit card that I did not use much. one of them it was jewelry store card that I used 2 times, and the 2 one it was Chase Bank card that i did not used for 2 month,but then I used the card for small balance and i paid it off right way, and just one week after I paid it off they closed the account,and they said account closed to due inactivity. witch did not make since because I just used the card. Any way booth cards show on my credit report one it said the acoount closed by consumer,and one it saying the accounts closed due to inactivity. Do you think they have the right to do that,and do you think that did hurt my credit score closing them like that. it shows the account current on both of them. Can I calle them to reopend those accounts? Other question is : can you delet the old addresse on my credit report,and is it good idea to do that? My last question how can I improve my credit score.I only have 2 credit card, and a home morhgage. I know that one loan that the collection agency trying to collect hurting me,but waht us i can do to improve my credit score faster? I need to try to refinance my home loan that is kiling me. Hve you heard about Fannie Mae or Freddie Mae loans or something like that? Thanks for all the help?
1.) Yes, they can close your account due to inactivity or whatever other reason they want to make up. It's better for the notation to say "closed by consumer", but the notation in itself shouldn't really have much of an effect on your credit score. What matters more is how much available credit you lost when the accounts were closed and how much that affected your Credit utilization ratio. Also, they likely won't reopen the accounts for you, but you can always call and give it a try. 2.) Yes, you can delete old addresses, but I wouldn't try to if they are correct 3.) The best thing you can do is keep paying your credit cards and mortgage on time. If you have a spouse or close relative with great credit, they could always add you as an AU to a few of their oldest credit cards in good standing. That should help give your scores a boost as well. Have you asked your bank if you qualify for any gov't sponsored programs that are out there to help you refi your home?
Hello, Thanks for all your respond,you are helping us a lot. Any way I was wondering about when you said how much credit I lost when they closed my accounts do you mean the credit limit on the them? Also I would like to ask about what you mean when you said utilization ratio,and how and where to look for it on my credit report? can a friend add you to his credit card? How far a part you think the score from the 3 credit report beraus it should be 10,20,30 point part? I do pull my credid report every month from CreditKeeper.com Do you know if the scores matches the scores from Fico scores? Thanks
Yes, I was talking about the credit limits you lost and how that affects your credit utilization ratio. Here's a link to our learning center to read more about what your credit utilization ratio is: What is Credit Utilization? Also, a friend can add you as an AU on his/her card. And lastly, if you're comparing FICO scores, there shouldn't be more than about a 50 point difference among them unless something big is missing from your credit reports on one and showing up on another. I doubt the scores you're getting from CreditKeeper are FICO scores too. If they don't say they're FICO, then they're not.
Ok, The loan that has been assingned to collection agency to collect for the original creditor,witch the original creditor reporting it on my credit report as chargeoff or collection those that balance on the loan count when you do the credit utilization ratio? Also I have a credit card that I am not using at all,but the only thing that I use it for is to pay the CreditKeeper.com $ 9.99 a month witch comes out automaticly from that card. Is that enough to keep my account active so they don't close it , due to no ativity? How long can you go without using your credit card so they don't close it? is it 1month 2,3 month? Thanks
Unless it's an open revolving credit account, like a credit card, don't include it in your CU ratio calculation. A personal installment loan, for example, would not be included. And yes- any charge, even a small one, should be enough to keep the card active. Just make sure you set it up on autopay so you're always paying it on time and in full. In response to your last question, that depends on the credit issuer. Every case will be different, so it's best just to use your card for a small purchase at least every other month, and I doubt you'll have any problems due to inactivity.
Ok, I am a fraid now to pay the full balance on my credit card because last time my Lowes ,and Chase card after I paid the full balance they closed the acoounts, and I only had a small balance on them. So that wahy I don't pay the full balance I leave about $ 20.00 on them. What you think? is that hurts my credit score? I was thinking about talking to the Cunsumer Credit Counsling Service about the collection agency that after me. My question is witch is better to do ? try to set a plan with the Cunsumer Credit Counseling and pay the full balance on the acoount with will take my be 5 years and the montly payment not that great. Or is it better to try to settel with the collection for less and get it over with ? Also witch one it better for my credit score? Thanks
No- it doesn't "hurt" your credit score to leave a balance on your cards as long as you pay the minimum on time. You'll just be paying unnecessary interest. Personally, I'm not a huge fan of credit counselors and debt management programs because I think it's better for people to handle these sorts of things on their own. If they're completely free, then they might be able to provide some quality assistance, but I certainly wouldn't ever pay someone else to act as my middleman. If you have the cash to settle with the CA, that's the route I would take while negotiating as strong as possible for removal of the negative marks from my credit reports.
Well,I hanve not heard from the collection agency since I send them a settelment offer back in september. Is it good or bad? Do you know if the balance stays the same or is it more charges and fees adding up ? I have not been contact for couple month now. What next? Thanks
If the CA isn't reporting anything on your credit reports and they're not bugging you either, then your best strategy just might be to lay low for awhile. That is, unless you have a specific reason to get these negative marks removed from your credit reports asap in return for payment. But yes- the balance could still be growing as additional interest is added.
No, the original creditore still reporting it on my credit report.It reporting like this: the name of the original creditor then under each of every month it saying : CO Under the month of september it said : ND Do you know what CO means? Do you know what ND means? I puled my credit report from CreditKeeper Home My other question please is. how come when i pulled out my credit report sometimes the numbers don't change like for the month of March,April,and May the score numbers din't change beside transunion when up 7 point? I only have one negative acoount reporting,but I have at least 5 accounts in good standing all positive? Where can I pull my real credit score without paying? Thanks
Didn't we cover this before? The original creditor is reporting a Charge Off (CO), but it doesn't sound like the CA has ever reported anything. ND, in the payment history section of your credit reports, probably stands for "No Data", which means they haven't received anything from the information furnisher to report. Don't pay any attention to the FAKO scores you're receiving from Creditkeeper. It's not worth your time worrying about the small fluctuations in those scores. If you want your real FICO scores, you can get them from myFico.com, but you'll have to pay for them. You can't get free FICO scores unless you actually apply for some kind of credit product and the lender provides you with copies of your FICO scores.
Hi I hoping to see if any body dealing with this collection agency: Asset Acceptance,LLC collection agency. I just got a letter from the that they purshased my account fro the original creditor. they want me to start sending the payment. First I am going to send the a letter to validate of the account. If you have any iformation about them,or what to do next that be asome. they said they may strat reporting to the credit berau. Thanks
They're a big debt buyer and collector. Validate the debt within 30 days of their first contact and await their response. Then keep us updated on what kind of response you receive. What kind of debt is this, how old is it, and how much are we talking about?
I barrowed about 12.000 a Personal loan in 2008 . I stop making payment, and the balance when up with fees and interest to 15,000 i think This loan went to three collections collectore,so finaly someone bought the loan looks like. So is this mean they have the right to reported to my credit report,and how about the original creditore are they going to stop reprting it to my credit report? Do you know why the first two collectore dint buy my loan,and whay this collector agency bought my loan? Have you heard any thing about them as far how they deal with people ,or if any body settle ? Thanks
The OC can still report the debt as a charge off even though it's been sold. And yes, the CA will now likely report it is a collection too. Often debts are transferred several times for collection before they are actually sold. It sounds like that was the case with this debt. I've never dealt with Asset Acceptance personally, so I can't say anything about how willing they will be to settle. Perhaps someone else will chime in with some personal experience?
The original creditor stop reporting to my credit report looks like since March. How come my credit score went down even i am paying every thing us on time on my other things. It should go up since original creditor for the loan never reported any thing since March,and that the only negatif thing on my report. I think the sold my loan to another collection agency now because some colletion pulled out my credit report in june,and I received a letter saying that the purshase my loan. So why my credit score went down is it because the pulled my credit report,but the thing the score only went down on TRANS,EXPE,and not on EX the score went up that dont make since.
Just because you've been paying everything else on time doesn't mean your credit scores will automatically go up. You still have a big negative mark on your credit repots, and there are of course a lot of other factors at play in your credit scores. I'm not sure how much your scores went down exactly, but I wouldn't get too caught up with minor fluctuations either. Oh, and make sure you're looking at FICO scores and not some other FAKO score sold by the credit bureaus.
Well there was nothing reporting to my credit report negatifily because the original creditore stop reproting almost 4 month a go ,and I dont konw why the stop reporting,and why my creidt score went down! I did received a letter from a collection about a week ago telling me the the purshuse my loan,and they are trying to collect the money. Ok,well I send them a letter to validate the the debt,and today I get a letter back from them with no copies or any thing from the original creditor showing my signature or any thing. All I get is a letter saying: Thank you for requesting validation regarding this account .this letter shows you account statement with information provided to us by the prior creditor.Please contact this office so we can work toward resolving this matter. ALL it show on the letter is Account balance, Account number from the originlal creditir,and there account number for this debt. Well what going on all the sending me almost a blank letter with a balance,and account number is this a jock. where the validation of the debt or a copie. Please can any body tell me what going on,and what I need to do next. Also can you tell me what other factore that cuse my credit score to go down> Thanks so much
It's impossible to tell you exactly whey your credit scores have dropped. Frankly I'm a bit confused now regarding which debt we're talking about. I feel like I've answered a lot of different questions in this thread. Maybe you should start a new thread related to this specific debt? Also, what they send you for validation is probably sufficient, even though you may not think it is.
