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Got Bad Credit?? Need It Fixed??


 
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 5 years ago '10        #476
rek0nize 66 heat pts66
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I'm back to checking this thread regularly. If you need some help you can throw me a prop to get my attention or PM.

Hit me up with any questions.

 5 years ago '06        #477
philly337 26 heat pts26
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 rek0nize said
For the 2 in collections. Send them a Pay For Delete offer since they arent too big of amounts. If they agree to it I would do that option. If they won't agree since they're about 30 months old now, I would just let them go until the 7 year mark and they fall off.

If you send them anything on those 2 in collections with out a Pay-For-Delete it will reset the clock on them and the 7 years will start over. They also will still be a negative even though you paid them off.
I duno about not paying it...yea if it falls off great but like special k mentioned most of the time it will be transferred to another collection agency and start over.

Also if you're just looking at the score ok...but if you're actually going somewhere to get a loan an underwriter is going to look more favorably on something that was paid that may not be showing on the credit score than if it was never paid at all

 5 years ago '10        #478
rek0nize 66 heat pts66
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 philly337 said
I duno about not paying it...yea if it falls off great but like special k mentioned most of the time it will be transferred to another collection agency and start over.

Also if you're just looking at the score ok...but if you're actually going somewhere to get a loan an underwriter is going to look more favorably on something that was paid that may not be showing on the credit sco66re than if it was never paid at all
Hes completely wrong on all that part.

It can be sold off an unlimited amount of times. They all will come off at 7 years from the first 90 day non payment from the original creditor. It can never go back on your credit report no matter what. No matter how many times its been sold off. It doesnt matter if the original creditor decides to sell it off at 6.5 years. Theyre both coming off in 6 months. When an ageny buys a debt they have to go by all the original amounts and dates. If you pull up your credit report and find 2 or 3 of the same negativeaccounts on a persons credit report, they will all have the same estimated fall off date.

You would rather have the credit line not even show up if you didnt pay on it for 3 years even if you did pay it off. A person will look at that and be turned off by it. Its better for your score and history for it to just not be there. A lender doesnt want to see 36 consecutive missed payments then be paid off. Yeah you did right by paying off your debt but that isnt helping you out in the credit score/history game.


Last edited by rek0nize; 01-13-2014 at 03:24 AM..

 5 years ago '10        #479
rek0nize 66 heat pts66
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 specialk103185 said
In response to the dude above me, in some cases, it's better to pay a debt then to let it fall off. For example, let's say you have a sprint bill for an account that you closed 5 years ago. It's been sitting on your credit report and you can't wait for the 7 year mark so it will either go away on it's own or so that you can tell the credit folks to remove it. Well you are gambling because at the 6 year mark, it may be transferred to a collection agency that now puts their own account on your credit report. That starts the process all over again for how long it takes for it to fall off the credit report and for that time your score is damaged because you have 2 bad accounts on your report instead of one that just says paid.
Thats one hundred percent false. It doesnt start over once sold. If its sold off 4 times all 4 will come off at the 7 year mark period. Its always going to be the same account line no matter how many times its sold off. They will always go by the original account. I had an account that was sold off 4 times all through the 7 years and they all fell off together at 7 year mark.

The only way 7 years will start over is if a collection company suckers some ody to be paid in full for like a 90% settlement. Yes its paid for but will still negatively impact your score for a fresh 7 years with less and less impact as it reaches closer to the 7 year mark. Its definitely best to let things go if you arent being sued.

If youre passed your states statue of limitations you cant be sued and its always the best idea to just let it go and it will all fall off


Last edited by rek0nize; 01-13-2014 at 03:13 AM..

 5 years ago '10        #480
rek0nize 66 heat pts66
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 LYTE said
good to know. I thought them seeing PAID IN FULL will look better but now seeing that it is still a NEGATIVE I know now.



also good to know. Not that I will allow that to happen. I only asked do utilities show up because I didnt see my cell phone up there & I had the service since May 2004
That last part you bolded on his paragraph is absolutely wrong. It will fall off at 7 years from the original account. I want to make sure you dont get any wrong advice because its a lo ng journey to fix your credit and some wrong information can give you an even bigger headache in the longrun.

 5 years ago '11        #481
whouthinkitis 20 heat pts20
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 rek0nize said
Thats one hundred percent false. It doesnt start over once sold. If its sold off 4 times all 4 will come off at the 7 year mark period. Its always going to be the same account line no matter how many times its sold off. They will always go by the original account. I had an account that was sold off 4 times all through the 7 years and they all fell off together at 7 year mark.

The only way 7 years will start over is if a collection company suckers some ody to be paid in full for like a 90% settlement. Yes its paid for but will still negatively impact your score for a fresh 7 years with less and less impact as it reaches closer to the 7 year mark. Its definitely best to let things go if you arent being sued.

If youre passed your states statue of limitations you cant be sued and its always the best idea to just let it go and it will all fall off
Since you say that about the about the statue of limitations how is it that some collection agencies keep coming after you once it passes? I know the s.o.l. in my state says 6 yrs on credit card debt from what I checked through google. But, I had a CC debt from 04-05 and when I checked my credit they didn't put on my credit until '08 for some reason Idk why and you know how they keep sending letters until the debt is paid. I got another letter yesterday from a collection agency that's been hounding me for the last 2-3 months about paying the account. I got tired of the sh*t and sent them the settlement offer this morning. I had been trying to pay the debt off the last 4-5 yrs.

My question is why it that the CC company/debt agencies wait to put debt into collections 3-4 yrs after the fact? Also, how is it that collectors can continue to come after a person once the statue of limitations up?

 5 years ago '04        #482
youngsiz 5 heat pts
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I actually do cbr reporting I can tell you a majority of the time nothing will change unless the company has some idiotic policy like if you state you never recieved a statement they have to delete it but other wise if your name and social match it's your debt also when people say oh I never paid late or anything like that I usually send them statements to remind then of there own past

My best advice is if it's close to seven years do not pay it the moment you pay it , it restarts your seven year reporting window for something to be deleted. Also if your debt is sold deal directly with the buyer because legally once it's sold the company that owned it cannot not service it. Meaning if you pay if off we won't change that it charge off with us but the buyers tradeline will reflect whatever happened after they brought it.

 5 years ago '04        #483
youngsiz 5 heat pts
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 rek0nize said
Thats one hundred percent false. It doesnt start over once sold. If its sold off 4 times all 4 will come off at the 7 year mark period. Its always going to be the same account line no matter how many times its sold off. They will always go by the original account. I had an account that was sold off 4 times all through the 7 years and they all fell off together at 7 year mark.

The only way 7 years will start over is if a collection company suckers some ody to be paid in full for like a 90% settlement. Yes its paid for but will still negatively impact your score for a fresh 7 years with less and less impact as it reaches closer to the 7 year mark. Its definitely best to let things go if you arent being sued.

If youre passed your states statue of limitations you cant be sued and its always the best idea to just let it go and it will all fall off
Your statement is false once it's sold it does restart your 7 year cycle that's why when it's sold it's never updated from the person that sold it if what your saying was true then no one would be debt now because their tradeline would have already been deleted based on charge off by the time it got to the fourth or fifth seller making it a bait and switch which is illegal I know everyone one on boxden is a credit expert but until you have actually done the job that I do now (don't say you have or do because if you do you would have never made that statement)don't make blanket statements based off something someone with no credit knowledge told you

 5 years ago '04        #484
youngsiz 5 heat pts
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 whouthinkitis said
Since you say that about the about the statue of limitations how is it that some collection agencies keep coming after you once it passes? I know the s.o.l. in my state says 6 yrs on credit card debt from what I checked through google. But, I had a CC debt from 04-05 and when I checked my credit they didn't put on my credit until '08 for some reason Idk why and you know how they keep sending letters until the debt is paid. I got another letter yesterday from a collection agency that's been hounding me for the last 2-3 months about paying the account. I got tired of the sh*t and sent them the settlement offer this morning. I had been trying to pay the debt off the last 4-5 yrs.

My question is why it that the CC company/debt agencies wait to put debt into collections 3-4 yrs after the fact? Also, how is it that collectors can continue to come after a person once the statue of limitations up?
To answer you questions the debt is already in collections the moment it charges off of the company has in house recoveries then you would get call from them directly otherwise you acct might sit for a while until 3rd party company buys your account from your debtor . The statue of limitations is only valid 7 years from the date the acct closed or charged off with no activity . Meaning no payments no nothing the min you pay the min it restarts. Which kinda is a catch 22 because if you pay it restarts if you don't they send a form to the it's making you claim it as income my best advice if you'd dealing with something like that is depending on the amount and year it charged off take the l and file it as income otherwise pay and start the process of rebuilding your credit

 5 years ago '04        #485
ATLDOPEBOI30 76 heat pts76
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my credit is fukked helpppppp

 5 years ago '12        #486
Fresh.E 70 heat pts70
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I have poor credit (only 22 years old)
I need help, I don't even know where to go to pay anything. I don't understand sh*t that has to do with numbers and financial things. It's complicated to me. I want to get a credit card to start rebuilding but I have a pretty bad job so I can't really make big payments on my debt either. Any advice would help. And yes I'm searching for another job so I really need to make all this better.
I have one account open in collections for $417, I believe it's Dish Network. Me or my fam couldn't pay the bill so yeah, fu*ked up there.
I have one account that's delinquent with Citibank for a credit card (should have never gotten one ) for 1,115.
Yes I know, I fu*ked up. Any advice BX.
How can I get a legit credit report back, CreditKarma doesn't give an exact score I believe. How do I pay these off, I can't remember when the card went into delinquent. It's been awhile though. Not more then 2 years I believe.

 5 years ago '11        #487
whouthinkitis 20 heat pts20
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 SanFranLost said
I have poor credit (only 22 years old)
I need help, I don't even know where to go to pay anything. I don't understand sh*t that has to do with numbers and financial things. It's complicated to me. I want to get a credit card to start rebuilding but I have a pretty bad job so I can't really make big payments on my debt either. Any advice would help. And yes I'm searching for another job so I really need to make all this better.
I have one account open in collections for $417, I believe it's Dish Network. Me or my fam couldn't pay the bill so yeah, fu*ked up there.
I have one account that's delinquent with Citibank for a credit card (should have never gotten one ) for 1,115.
Yes I know, I fu*ked up. Any advice BX.
How can I get a legit credit report back, CreditKarma doesn't give an exact score I believe. How do I pay these off, I can't remember when the card went into delinquent. It's been awhile though. Not more then 2 years I believe.
I do believe credit karma give credit scores but you might be right about them being legit b/c I checked mine yesterday and it had dropped. When I checked my report I saw that Dell had finally closed out my account (which was an account used to buy computers on a line of credit) which is disputable b/c I never owed them anything. Which, I find the drop in my score disputable b/c Credit Karma always call themselves updating you're score every 2-3 wks. Most of these credit reports always have old/inaccurate information on them even after you pay your debt.

 5 years ago '07        #488
FeedTheBeast 23 heat pts23
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Conflicting info in here

 5 years ago '10        #489
rek0nize 66 heat pts66
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 whouthinkitis said
Since you say that about the about the statue of limitations how is it that some collection agencies keep coming after you once it passes? I know the s.o.l. in my state says 6 yrs on credit card debt from what I checked through google. But, I had a CC debt from 04-05 and when I checked my credit they didn't put on my credit until '08 for some reason Idk why and you know how they keep sending letters until the debt is paid. I got another letter yesterday from a collection agency that's been hounding me for the last 2-3 months about paying the account. I got tired of the sh*t and sent them the settlement offer this morning. I had been trying to pay the debt off the last 4-5 yrs.

My question is why it that the CC company/debt agencies wait to put debt into collections 3-4 yrs after the fact? Also, how is it that collectors can continue to come after a person once the statue of limitations up?

A Debt agency can continue to try and get their money through letters and phone calls until the day you die no matter what. What SOL means is that they cannot sue you, which means they wouldnt get their money. So basically you can just laugh at them once your SOL has passed.


Last edited by rek0nize; 04-06-2014 at 06:01 PM..

 5 years ago '10        #490
rek0nize 66 heat pts66
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 FeedTheBeast said
Conflicting info in here
Follow my posts for information. They're 100 percent true.

 5 years ago '10        #491
rek0nize 66 heat pts66
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 youngsiz said
To answer you questions the debt is already in collections the moment it charges off of the company has in house recoveries then you would get call from them directly otherwise you acct might sit for a while until 3rd party company buys your account from your debtor . The statue of limitations is only valid 7 years from the date the acct closed or charged off with no activity . Meaning no payments no nothing the min you pay the min it restarts. Which kinda is a catch 22 because if you pay it restarts if you don't they send a form to the it's making you claim it as income my best advice if you'd dealing with something like that is depending on the amount and year it charged off take the l and file it as income otherwise pay and start the process of rebuilding your credit
Statue of limitations doesn't mean that at all.

Statue of limitations is different in each state, Some states are 2 years, some are up to 6 years. All that SoL means is that you cannot be sued after that time has passed according to your state. Meaning you legally don't own the debt any more in essence. BUT, they can keep trying to collect the money from a person until the day you die.

A lot of people will end up caving over the phone calls and try to settle with them even after they're in the clear on SoL.

 5 years ago '11        #492
whouthinkitis 20 heat pts20
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 rek0nize said
A Debt agency can continue to try and get their money through letters and phone calls until the day you die no matter what. What SOL means is that they cannot sue you, which means they would get their money. So basically you can just laugh at them once your SOL has passed.
Hmm good sh*t to know.

 5 years ago '04        #493
Duntaz 67 heat pts67
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 rek0nize said
A Debt agency can continue to try and get their money through letters and phone calls until the day you die no matter what. What SOL means is that they cannot sue you, which means they would get their money. So basically you can just laugh at them once your SOL has passed.
That's not entirely true. You can tell a creditor by phone or by certified mail that you wish not to be contacted. I've sued a creditor for being contact repeatedly after requesting not to be contact. Calling after business hours or calling more than a given number of times in on day is considered harassment. Read up on the Telephone Consumer Protection Act (TCPA) as well as Fair Debt Collection Practices Act (FDCPA).

 5 years ago '10        #494
rek0nize 66 heat pts66
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 Duntaz said
That's not entirely true. You can tell a creditor by phone or by certified mail that you wish not to be contacted. I've sued a creditor for being contact repeatedly after requesting not to be contact. Calling after business hours or calling more than a given number of times in on day is considered harassment. Read up on the Telephone Consumer Protection Act (TCPA) as well as Fair Debt Collection Practices Act (FDCPA).
read it many times. They have every right to try and collect their debt within reason.

Thats only if they push the envelope. It will be sold off so many times. People can still try to collect their debt within reason. After so many years they usually just give up.

 5 years ago '04        #495
youngsiz 5 heat pts
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 rek0nize said
Statue of limitations doesn't mean that at all.

Statue of limitations is different in each state, Some states are 2 years, some are up to 6 years. All that SoL means is that you cannot be sued after that time has passed according to your state. Meaning you legally don't own the debt any more in essence. BUT, they can keep trying to collect the money from a person until the day you die.

A lot of people will end up caving over the phone calls and try to settle with them even after they're in the clear on SoL.
Your half right the statue of limitations also includes reporting on a persona reports and also how long the company is able to go after you for collection purposes before they issue you a 1099c. And no we can't still continue to collect from you after the sol has been reached that the purpose of the tax form because you would have to file it as income. People dont get sued as much as money because most of the banks don't do unsecured loans anymore. And again I'm not a expert but I've been doing this for the last 2 year for capital one so I'm not just talking I'm literally doing it

 5 years ago '04        #496
youngsiz 5 heat pts
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 Duntaz said
That's not entirely true. You can tell a creditor by phone or by certified mail that you wish not to be contacted. I've sued a creditor for being contact repeatedly after requesting not to be contact. Calling after business hours or calling more than a given number of times in on day is considered harassment. Read up on the Telephone Consumer Protection Act (TCPA) as well as Fair Debt Collection Practices Act (FDCPA).
And your half right as well fdcpa does monitor how you receive things from crieditors but it doesn't stop them from calling. It lays the ground rules for contact like you can't call before 8am or after 9pm. Also they can call you all day long as long as they don't leave a message once they leave a message your no longer able to call for the rest of the day. But pretty much if you owe you can be called. Those acts are there to prevent debtors from just saying or doing anything to get you to pay

 5 years ago '10        #497
rek0nize 66 heat pts66
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 Duntaz said
That's not entirely true. You can tell a creditor by phone or by certified mail that you wish not to be contacted. I've sued a creditor for being contact repeatedly after requesting not to be contact. Calling after business hours or calling more than a given number of times in on day is considered harassment. Read up on the Telephone Consumer Protection Act (TCPA) as well as Fair Debt Collection Practices Act (FDCPA).
I just stated the same thing you said and you said "that's not entirely true"

The fact is we already all know they can't harass you as I've stated that prior twice. BUT they can try to collect their money until the day you die REASONABLY. You aren't suing anybody for trying to collect their money by calling your house a couple times a week and sending you a piece of mail once a month.

 5 years ago '04        #498
Duntaz 67 heat pts67
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 rek0nize said
I just stated the same thing you said and you said "that's not entirely true"

The fact is we already all know they can't harass you as I've stated that prior twice. BUT they can try to collect their money until the day you die REASONABLY. You aren't suing anybody for trying to collect their money by calling your house a couple times a week and sending you a piece of mail once a month.
I meant not entirely true in terms of the same collection agency. Like you said it will be sold off repeatedly. Most agency don't abide by the collection laws but the average person doesn't know the law so they take advantage of that. If people knew the law half of them would probably be able to pay their debt off with the collection agencies own money lol. The company that harassed me wind up paying me close to 20 grand when the debt was for $290. $500 per call. Which I could have paid but it was so old I was just gonna let it drop off.

 04-28-2014, 09:22 AM         #499
awbasa 
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#1- Get a secured credit card for whatever you can afford from your bank and use it to make a few purchases monthly and make 3 payments a month. NOT 1 payment when the bill is due but pay it in full each month in 3 payments of what you've spent.

#2 If you know someone with good credit (720+), ask them to make you an authorized user on their card but let them know you have no plans on using their card you just want this to reflect on your credit score to help build yours.

2 quick an easy ways

 04-28-2014, 09:27 AM         #500
awbasa 
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And Oh yea if your CC has a $5,000 limit please don't leave the balance at $5,000. Credit Agencies check your utilization of your cards and having it maxed out is not a good look even if you pay the minimum payment every month.

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