I know im new but I have not had time to read this forum. So anyways this is my question. I recently (yesterday) found out that my sister-in-law (last name isnt even close to mine) is getting a collection call looking for my wife. My sister-in-law was able to get out of them they are wanting to collect a debt and the name of the place they are collecting it for. The thing is I have never recieved any bills for the named collection agency nor the named owing. My sister-in-law did not record the message so we have no "proof" but should I take this matter up with someone like micreditlawyer.com??? Also im confused about statute of limitations. I have a few collections that are near and over the 6 year mark set by michigan. What do I do to get those that are over 6 years off my credit report? I had planned on eventually paying them off but ever since my wife lost her job I have been unable to. I am getting to the point now that I have started to pay down the huge debts (had one medical debt at 4k and its now down to $1500 so yes I am paying them but one at a time). I have NEVER talked to any of these creditors but either way what choice do I have on the ones over the 6 years without having them "renewed" somehow and still on my credit report only with a new "updated" date. Also does that only pertain to collection agency's in Michigan (since I live in Michigan) or any collection agency that might be in another state?
Well, if you don't want to go through the process of credit repair, pull your credit report and see which active collections are showing up. Pick some collections companies and write them a letter stating that You are not disputing the item and you are willing to pay the full price for the item even though it is a debt that is super old and you are willing to pay without debt validation. You will only pay the full price with out debt validation if they agree to delete all traces of this item from all three credit agencies and they must not discuss this arrangement with any third party or any agencies. Please respond in within 15 days upon receipt of this letter or I will assume that you did not accept my offer. If you accept my offer please respond back within 15 days with a letter on ( collection companies letter head, ex: RJM Aquisitions ) letter head with a signature from RJM Aquisitions Manager representative. I am willing to make full payment of this alleged debt upon the receipt of your aggreement in the amount of $xxx.xx by money order made payable to (collection company name ). I will make copies of all documents being sent just for my records and proof of this confidential agreement between myself and ( Collection company ). Thank you Your name ( REMEMBER, DO NOT SIGN THIS LETTER ) If they agree then request that they send a letter on their letter head and request for a signature and stamp from their office manager. Also, be sure to send all letters certified mail with return receipt request. But on the other hand. If they are over 5 years old they are damaging your score too bad. Don't get me wrong, they are hurting it. Be sure you date your letter. Hope this helps
Note: Original creditors are a little different, they are not governed by FDCPA. Only collection agencies>
You're confusing your statute of limitations. The state statute is the amount of time that the creditor has to legally collect. The statute of limitations for reporting is seven years. They are two separate laws. The SOL for collecting is state-specific. The 7-year reporting SOL is part of the federal law.
Ofblong, To add to Hedwig's comment, the SOL for Michigan is 6 years. Like Hedwig said, SOL to try and collect a debt is completely different from the SOL of Federal law ( like how long it stays on your reports ). Some states have SOL's that are up to 10 years for collectors to try and collect. I know, It's crazy to think that people can come after you for 10 years. Hope that clarified,
Really though, You just have to decide how you want to proceed. If you don't want to pay, go for the credit repair method. Dispute , then Debt validation. If you have the money to pay , then offer the Pay for a Deletion method. But like you said, your wife lost her job. I don't know man, you just got to weigh down your options. Sometimes collection agencies will settle and delete. Ex: you owe 1000.00 bucks, you offer 650.00 to settle and then negotiate to have it deleted when you pay it. Good luck man, Newbie79
Well I did pull my credit reports today since I could finally get my annual free report. For some reason I could have sworn that last year I had quite a few collections on my record but this year I have 1 for $59. So I will send them the letter stating I will pay the $59 if they remove all records from the CRA's. My wife lost her job 3 or 4 years ago (hey I am getting old and cant remember everythign lol) and I could have sworn I had more Collections on my record than what it is showing. I wanted to start paying these down because my wife and I are finally back to living within the means of 1 income instead of 2. Either way I dont know what to do about the first one I mentioned that I have no clue what it is for nor do I have any bills from it. My wife is harrasing me to call them back but I refuse to call and talk with them. However when I put the number in google I get some telecommunications service provider and not a collection agency. Oh and thanks for clarifying the SOL .
OK, then if you don't even know what it is and what it was for, I would definately not pay for it. Dispute through the CRA first. Dont Pay if you don't have to. By the way, GOOD JOB not talking to them. I don't know man, I'm just not a fan of throwing money away.
well, I guess its about how you want to proceed. I'm going through the same thing. I enrolled my son in Martial Arts and signed a contract for 1 year. I gave them a 60 day notice that I would be pulling him out and stop going, even in writting. The lady said that was fine but the company that apparently handles the billing turned it over to collections. Its 2700 bucks, It hasn't showed up on my reports yet, but I validated it within the 30 days, waited for a reply and then validated it again requesting their license to collect in Texas, they just sent the copy of the contract again. So, I'm just gonna chill for a little bit and keep an eye on my report. For all I know they couldve forged my name on a contract that I don't even own. lol.. i don't know. I would just wait. How much is the amount that they are collecting for?
Really, when people look at your FICO to approve you for a loan, what's NOT on your report doesn't affect it. In my opinion, if it aint on there I wouldn't sweat it. But, thats just my opinion. I'm just a regular guy. Some people on here are on a moral trip and tell you what they think you should do in your life, like they know what your going through. I just try to handle each question as if I'm going through it with you and like i'm in the same boat you are. I just try to keep it human man.
If it's not on your report and you haven't gotten a written communication I wouldn't worry about it. You may want to check the courthouse every so often to make sure they haven't filed suit, but they may just go away. Did your sister-in-law give them contact information for your wife?
Yep, agreed with Hedwig Just keep it in the back of your mind that there is a collection out there. I would probably sign up for a credit monitoring service, just to check to see if it ever pops up. Just kinda poke around and see what you can find out. But dont pry too hard, sometimes you can wake the CA's up. They'll come outta their hole and be like " hey , mister OFBLONG owes us some money " ... Like Hedwig said , if you havent gotten a letter from them or anything, they probably put your file in the " get to later " folder. How much did you say it was for, like 50 something dollars. They probably wont even waste their paper depending on the CA. Good luck man, Newbie79
The $59 one is on my credit report and im not worried about that. I owe the money and will pay it. The one that is not is for almost $600. My sister-in-law didnt give her my wifes information. I will prob send out the letter tomarrow since I get paid to the one for $59. I figure the quicker I can get that collection off my account the better my credit score will become. I am hoping by november I can be closer to 700 credit score from 619 as long as I dont have any late payments (which shouldnt be an issue anymore). The only other issue I have is 8 years ago I settled for less than owed on 4 credit cards but they are still on my credit reports. Is that something that stays on for 10 years or 7?
I hope you haven't sent the money. If you do, you'll settle the debt, but the collection entry will be on your credit report for 7 more years (marked as a paid collection, but a collection nonetheless). The good news is that the new FICO model ignores small collections, but the bad news is that it'll be on your credit report for all to see. Either way, remember that paying a collection DOES NOT GET IT OFF YOUR CREDIT REPORT!!!
Yeah, Dont send the money yet. Don't do that. Please send a settlement letter requesting for the removal upon receipt of full payment. Be sure to request that they send the acceptance letter on their letter head with a signature from their representative.
I dont know what I would have said to make you guys think I sent the money already? I havent even sent out the letter yet because I am working 7 days/week right now and havent had time.
Yep, as of FICO 08. Agreed. Words to live by. Are we sure? Doesn't the DOFD determine the reporting period, regardless of subsequent action?
