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Member Since: June 2013

Activity (4 Total Contributions)

How should an account that has a status of "collection/charged off" be reported on your report?

Mar 11, 2016

The account was sold to a collection agency for pennies on the dollar.  The collection agency now reports it as open and will try to collect on it for as long as your state allows.  Just because the original creditor charged it off does not make the debt go away.  You still owe it because the collection agency bought it with hopes that you will start paying on it!!   WOW, REALLY?  Debts dont just disappear.  Its called STATUTE IF LIMITATIONS.  Google it for your state.

With a 520 if I paid off the 2 small things is on there tomorrow how soon could my score be 780-800

Feb 24, 2015

a really long time

I have a repo on my credit report, the company filed a profit/loss what can I do to get this off ?

Feb 17, 2015

Wow, seriously?   Just because they reported it as a loss doesnt mean you get out of it free and clear.  It will still remain on your report for up to ten years,  OR however long your state allows it to.  They can and will come after you for the remaining amount.  You probably wont even be able to get any kind of decent credit lines for a very, very long time.  If you cant pay the remaining balance,  then be prepared to have your wages deducted.

the collection agency said I made a payment 2 years ago and I did not. Can they do this?

Nov 08, 2014

Can a third party collection sue you for a bad debt they purchased?