The basics... * Acct charged off in 1997 * Rec'd letter from attorney 9-18-97 * I disputed claim with attorney 10-10-97 * Civil Summons filed against me 3-3-98 * Answer filled by my attorney 3-27-98 * Letter from my attorney To theirs, Offering settlement contingent on corrections to acct 6-10-98 * Letter from CC company to me 6-14-99 The long version... I've been 'round and 'round with a certain credit card company concerning a Visa that is now a charged off account (date is 1997). I honestly wanted to settle the account but not before they removed about $500 worth of erroneous charges (I admit my stubbornness has hurt me in the end). In the cases where I don't have something in writing from them, I at least have names, dates and times of phone conversations documented in which they always agreed to credit my account for the disputed charges. A judgement was even filed against me and dropped when my lawyer presented them with the "evidence". The last contact with them was from my lawyer to theirs asking them to correct the errors on my account in return for her writing up a settlement. It also outlined what I think was a violation of the fair debt collections act: continued calls to my workplace after notifying them to only call me at home. Their reply was a YEAR later in the form of a letter from cc company directly to me, "At this time, we are unable to supply you with the documents you requested. Should they become available we will be glad to forward them to you." Again, I was NOT trying to get out of paying what I do owe them. I confess that I was stubborn and immature then, but I am much older and much more financially stable now. This and a paid charge off to Sears from the same time period are the only negative items on my credit report at this time (I've had at least 3 years of perfect credit). Any suggestions? Should I make another offer to settle, or dispute the AMOUNT with the credit bureaus? The reason I'm thinking about this again, five years later, is I want to buy a house in the next year or so and want to increase my chances. Thanks in advance for your input!
Have they sent any original documents to you?? your signature, original application, signed receipts???
The paperwork with the civil summons included a copy of my signed application and a couple of bills. Not sure why the latter was included. Maybe just further evidence that I had an account with them... not that I ever denied it.
Gabriella First the good news, both accounts that you mentioned are scheduled to drop off your report in 2004(unless you send them money in the mean time). You(or your attorney) can contact the Original Creditor(OC) and offer to pay a percentage of the amount that was charged off by them. In return, they must completely delete all information about the account from all credit bureaus. Require that, when they agree to this, that they put it in writing and have it signed by someone who has the authority to do that. If I were in your position, I would probably start by offering around 10-15% of what they claim you owe them and let them respond to that offer. Remember, that once that 7 years from DOLA hits, they are required to remove or they are in violation of FCRA. The closer to that date you get, the more likely they are to settle for less money. Also, you really don't need to wait any longer to find and purchase a home. If you wish, contact me off-board and I will go into further detail with you and try to help get you going in the right direction. Now the bad news...as your credit currently sits, you may qualify FHA with an explanation, but you probably won't qualify conventional. Hope this helps fla-tan
Thank you... for both the good & bad news. I will take you up on your kind offer and email you for more info.
Creditman, if you happen to read this, I'd love to see what you were "about" to say when I originally posted this... Interested in others opinions too of course! Thanks again to Fla tan...
I currently reside in Tennessee. The account was opened and all subsequent activity occurred while I was living in Kentucky.
What does "with an explanation" mean? Does that just mean I have to offer up good excuses for this bad account? Thanks...
Charged Off Debt - clock restarted? Creditnetters helped me with this account a couple of years ago when I was trying to buy a house. With your help I managed to get it off all credit reports but one. I just checked that particular credit report and it is now showing the account NOT as a charge off but as 120 days deliquent! Can they restart the clock like this? Any advice? Thanks! Gab
