Collection Account Advice

Discussion in 'Credit Talk' started by Kelly, Oct 31, 2000.

  1. Kelly

    Kelly Well-Known Member

    Hi guys,

    It's been awhile, I've come back for bobby free advice (hopefully he's gone)

    I've received my Reports from all 3. I have several small collection accounts I'd like to resolve. How should I go about it. They are mostly for less that $260 each. Thus, I don't know if negotiating for deletion or anything more positive is even possible since the amounts are so small.

    List of accounts:
    CBC Collections - Equifax & Experian
    CBC National Collections - Equifax
    Martel Mgt - Equifax
    Meade & Associates - Equifax

    Other BIG Derrogatories
    Bankruptcy - all three
    Judgment - Experian & Trans Unioun
    Judgment - Trans Union

    Other than that I have Student Loan Late Pays

    What is my best action???

    Can you negotiate settlement on judgments?
    On Trans Union they say filed - is that the same as judgment?

    I never even new about the one for $181

    All of the collections and judgments (except the one for $181) are from hospitals, clinics, doctors - In other words medical. Are they easier to deal with??? - Do I contact them (doctors)- will they remove ??

    Any advice is appreciated
  2. Cadillac408

    Cadillac408 Well-Known Member

    I'm sure most people will tell you to start disputing CBC and Martel (first 3) as "NOT MINE" and see what happens.

    Aren't both judgments and the Meade one due to fall off your reports in February and March? If I'm right and they don't, then you can dispute them as outdated. They can only stay on your report for 7 years.

    I don't know what to tell you about the BK. Hopefully someone else has a suggestion.
  3. Kelly

    Kelly Well-Known Member

    I should probably add that I live in Ohio and the SOL is something like 20 years for suing/collecting monies on debt.

  4. Kelly

    Kelly Well-Known Member

    I believe they should fall off in Feb and March. But since they can still sue - should I pay them anyway? If the answer is yes, how do I pay them so it doesn't get listed as a satisfied judgment/collection for another 7 years. I'm not sure how the judgment thing works - if they can renew it does it get reported again. Me Confused????

    Thanks for your help
  5. Momof3

    Momof3 Well-Known Member

    Not sure about the judgements, but as for the collections you may want to draft a letter offering to pay them in exchange for deletion. You need to draft letter , there are several letters at Kristi's site that will guide you, send it certified mail and IF they agree and you have it in writing, then you can make your payment. This may or may not work, I am trying this myself and haven't heard yet. Good Luck.
    BTW, did you post you received a CAP 1 card?
  6. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Judgments & SOLs

    A judgment cannot be reported as such until it actually becomes one, so the other party would be required to win in court first. Simply filing a case does not constitute a reporting right. Yet once a judgment has been acquired in your state of Ohio, it can be legitimately reported for up to 21 years (yikes!).

    The contractual SOL in Ohio, however, is 15 years not 20 as you may have thought. Hay itâ??s only a five (5) year difference, but five years is five years less they can get you.

    Youâ??ve got some small stuff Iâ??d suggest just paying outright, because trying to workout a deal for removal is going to be difficult if not impossible. Just pay these (under $100 accounts) because the likelihood is that theyâ??ll drop if you dispute the CBR later.

    Lastly, look into indigent programs if youâ??ve allot of medical bills? Indigent only means that you cannot pay your obligation due to financial limitations, so often grant money does for you. As a matter of fact I just completed a case whereby the client (67 year old widower) was under threat of suit for $21k, resulting from medical bills. Long story shortâ?¦ He no longer owes a dime of the $21 grand!

    Keep The Faith,
    Anthony Villaseñor
  7. Kelly

    Kelly Well-Known Member

    Hi Mom,

    Yep, that was me :) I'm a proud owner of a cap one card. Well I'm a proud owner of a piece of paper right now - I really did get a kick out of that!

    Amazed by the simple things,
  8. Momof3

    Momof3 Well-Known Member

    Makes you wonder

    My hubby applied for this a few months back, they denied do to ONE unpaid collection hmmm. Anyway congrats on getting yours!!!!, these banks just have me baffled at times
  9. Cadillac408

    Cadillac408 Well-Known Member

    What is more important?

    You state that you do indeed owe the money....but what do you care about first.....your credit report or paying these people? I guess that's what you need to figure out first.

    I personally care about my credit report. I have a judgment on there and I paid it thinking that it was the only way to possibly get it off of my report. I was unaware that they could just mark it as 'satisfied' instead of removing completely. What I should of done before I paid it was disputed it first w/ the CRA's (Experian and TransU). If they would of came back as unverified or something, thus being removed off of my report.....then that would of been then end of that. I would not of voluntarily paid them. Funk that! But that's just me.
  10. Kelly

    Kelly Well-Known Member

    RE: What is more important?

    I would like them off my report as well. But since I'm in Ohio and they are judgments it seems that they can stay for 21 years (if I'm reading this stuff correctly) and then they could renew them. I doubt they would do that but who knows

    As far as the collection accounts - I guess they have 15 years to sue me - but they should fall off my account within 7 years if they don't sue and get a judgment.

    To be honest I have no idea what I've paid and not paid. Cuz when you are sick you get sooo many bills for all the different services it's so hard to keep them straight. I was a horrible record keeper at the time - I remember getting around ten bills a day from different services - It was a nightmare. I paid what I could when I could.

    Anyway - My goal is to get this crap off my credit reports.

    BTW - I've already disputed most of this stuff last year - this is what remained on my reports - I had no luck with Equifax - they just wouldnt delete anything!!!! - That's why I was asking about negotiating and paying - basically - I'll pay if I have to - I just don't want to renew any debts and have them reporting for another 7 years!!!

    Thanks for all your help

    You guys have been great, I appreciate all the advice
  11. Kelly

    Kelly Well-Known Member

    RE: Makes you wonder

    Thank you, I also tried for the Target card and I was declined - well I assume I was, I got the standard - we are unable to give you instant credit, you'll receive an answer within two weeks blah, blah, blah. Looking on the bright side - I'll get a free credit report :)

    Thanks again

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