Odds and ends collections

Discussion in 'Credit Talk' started by Linda, Apr 4, 2001.

  1. Linda

    Linda Well-Known Member

    Hello (again),

    Aside from some major ($1,000 plus) open collections on my reports I have a few collections that are rather minor: $101, $59, and $116. One (electric bill)was turned over to a regular collection agency and the other two (doctor bill and cable bill) were turned over to a collection agency/ attorney. My original creditors are not listed on the credit reports at all. Can I pay the orginal creditors in full instead of the collections agencies? If I did that could these particular collection agencies keep their collection efforts recorded on my credit reports by showing it as a paid collections (or whatever) or would the credit bureaus be obligated to delete them if I showed proof of payments to the orginal creditors? Not really sure how all this works. By the way the SOL is not about to run out any time soon on these 3 debts. Also, would I owe the actual amounts listed on my reports or could the amounts have increased while I've been ignoring these over the past few years?

    Thanks so much for reading.
  2. RichGuy

    RichGuy Guest

    If listed as chargeoffs, these collections are almost certainly not accruing interest. Any previously accrued interest would be included in the collection amounts.

    I think the collection agencies COULD list them as paid chargeoffs/collections if you paid the original creditor. But they have little motivation to harass a debtor who doesn't owe anything and isn't going to pay them. Their tactics are designed to squeeze money out of you. They can be quite vindictive and even dishonest if you still haven't paid.

    People often report that paid chargeoffs/collections are a lot more likely to disappear in a subsequent dispute. The collection agencies have little motivation to even respond.

    If the SOL ( I assume you mean the 7 year reporting limitation) is approaching, then these are pre-1997 debts. The 7 year clock COULD still be reset. The safest course of action is to do nothing and wait for these debts to fall off. I suggest that you donate $276 or more to some very good charity and then forget about those debts forever.

    Best of luck to you.
  3. Linda

    Linda Well-Known Member

    Thanks, Richguy, for your response. I need all the feedback I can get since this all seems so overwhelming at times.

    And, yes, two of them are pre-1997 (early '96) and one is 1998. These debts are from when I was living in NY so the SOL is 6 years, and then another year on my credit reports. My ultimate goal is to get approved for a mortgage this year yet but I can't apply with open accounts. My first plan of attack is to dispute everything but I just needed to think about my options if they came back verified.


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