Hi everyone newbie here, Thinking about if it's worth trying to fix my credit vs just ride out the 7 years. I have about 5 or 6 old credit card debts that have all been sold off a million times in the past years, its been about 4 years and the SOL is over or ending now. I left the country and have a nice credit record abroad but might be heading back for law school. For school, I might need private loans. My score is 593 and I just want to be sure I can get a student loan with a co-signer, while Iâ??m sure you canâ??t answer that I want to know if you think its worth the battle to get these things off. Points against fighting: 1. It will be almost 6 years after the debt before I'll even be in the states, 2. I will be coming back for law school so have to wonder if I should wait until I'm qualified in law or better just the extra the extra couple years and they are gone. Here's my questions: 1. I just need to raise my score enough to get over the loan issue, is there simple things I should do instead of CA validation/ fighting 2. Should I maybe just contact CRA and make them validate? Any advice about what you think would really be worth it. What is the most harmful to reports as old as mine? Is it worth settling 1 or 2? Will that bring it up any? Gwendollen
If you left the country there is a good chance the SOL went dormant while you were gone. Example - If you left 2 years ago, substract 2 years from the SOL. Someone I know got nailed by this becasue they got served, didn';t show becasue they thought the SOL was up and got a judgment entered.
That's why this board is brilliant! I never thought of that! I was thinking that if I tell them I'm out of the country that would be a good bargaining point but in fact it might give them leverage to fight a SOL. But if I stay gone forever they canâ??t just claim the SOL is extendable forever there has to be a limit right? Also how would I know if someone is bringing a judgment against me? I check my report regularly and thereâ??s nothing there about anything.
Another thing you may want to look at is how the Bar in the State you would like to practice law in looks upon judgments or bk against you. You don't want this to end up being a problem down the road.
Good point but seems like default judgments are easy to over turn. I was reading past post and it sounds like Amex is judgement happy. I owe them like 800 bucks do you think they are coming after me? My other cards sold off the account but it looks like AMEX is still the holder of the debt. Any luck settling with them really? What about validating is that even worth it?
Check SOL to be sure. Then OPT OUT. I would consider myself lucky with the accounts that are sold--the new collector is bound by FDCPA laws. Validation is always a worthy step if you contest the debts. Are they reporting accurate amounts? Are they licensed to collect in your home state? Do the junk debt buyers have documented proof of the debt? I would want to know these things before trying to settle.
