Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say... and the status of limitations in my state is 7 years, so it was planned to let the statue run out, and then the cards would fall off the credit reporting service, well, the first went as planned! monitored the credit report and the card debt went away, it was listed as charged off for a long time, and then it was gone, but I was harassed by one of the credit agencies on another card, and they kept calling me and offering me deals. well, i just wanted them to stop calling, so i accepted a deal and then never contacted them again, and then I pulled my credit and the date of last activity was moved up to the month when i talked to the credit person?? wtf? now I have to wait another 7 years? is this legal? i did not pay them a thing. why is my date moved up. help, can i use a lawyer to fix this? I really need a good credit, as i was planning on a new business when my credit debt was off my record.....
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shootthemoon said:Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say...
blah blah blah
I really need a good credit, as i was planning on a new business when my credit debt was off my record.....
Should have thought of that years ago or at least researched your fraud better. Try creditboards, they'll help you.
shootthemoon said:Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say... and the status of limitations in my state is 7 years, so it was planned to let the statue run out, and then the cards would fall off the credit reporting service, well, the first went as planned! monitored the credit report and the card debt went away, it was listed as charged off for a long time, and then it was gone, but I was harassed by one of the credit agencies on another card, and they kept calling me and offering me deals. well, i just wanted them to stop calling, so i accepted a deal and then never contacted them again, and then I pulled my credit and the date of last activity was moved up to the month when i talked to the credit person?? wtf? now I have to wait another 7 years? is this legal? i did not pay them a thing. why is my date moved up. help, can i use a lawyer to fix this? I really need a good credit, as i was planning on a new business when my credit debt was off my record.....
shootthemoon said:so i accepted a deal and then never contacted them again, Seems like you should have asked for removal from the credit report to be part of the deal, no?
shootthemoon said:Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say... and the status of limitations in my state is 7 years, so it was planned to let the statue run out, and then the cards would fall off the credit reporting service, well, the first went as planned! monitored the credit report and the card debt went away, it was listed as charged off for a long time, and then it was gone, but I was harassed by one of the credit agencies on another card, and they kept calling me and offering me deals. well, i just wanted them to stop calling, so i accepted a deal and then never contacted them again, and then I pulled my credit and the date of last activity was moved up to the month when i talked to the credit person?? wtf? now I have to wait another 7 years? is this legal? i did not pay them a thing. why is my date moved up. help, can i use a lawyer to fix this? I really need a good credit, as i was planning on a new business when my credit debt was off my record.....Looks like it's time to pay the piper.
Best bet: offer to pay the full balance in exchange for removing it from your credit report.
mhesidence said:Too early for the Blooper thread yet?Hah, certainly not.
As to you, shootthemoon, sucks. You should have paid off your debt or at least attempted to. Not to mention you accepted a deal; stupid idea if you wanted to go 'off the grid' as you seemingly did. Live with your mistake and learn for next time. As for getting good credit...heh, good luck.
shootthemoon said:Many years ago, a ran up a debt on 3 seperate cards with no ability to pay these cards back, a rather large debt, i dont want to say... and the status of limitations in my state is 7 years, so it was planned to let the statue run out, and then the cards would fall off the credit reporting service, well, the first went as planned! monitored the credit report and the card debt went away, it was listed as charged off for a long time, and then it was gone, but I was harassed by one of the credit agencies on another card, and they kept calling me and offering me deals. well, i just wanted them to stop calling, so i accepted a deal and then never contacted them again, and then I pulled my credit and the date of last activity was moved up to the month when i talked to the credit person?? wtf? now I have to wait another 7 years? is this legal? i did not pay them a thing. why is my date moved up. help, can i use a lawyer to fix this? I really need a good credit, as i was planning on a new business when my credit debt was off my record.....
Since you have not yet paid them anything, get an agreement in writing from them that the information will be removed from your credit report before you send the money.
Allow me to interject a bit of legal reason to this thread...
The date of last activity is specifically defined in the FCRA.
Accepting a new deal DOES NOT EXTEND THE PERIOD WHEN THEY CAN REPORT A DEBT!
The debt can be reported for 7 years from the date of first delinquency, must come FULLY CURRENT and then go delinquent again for the reporting period to be extended.
This changed because the CRA's and collectors were playing games that allowed debts to be reported perpetually, moving the DOLA up when they sold a debt to another collector, etc...
Yeah, you can use a lawyer, but nobody cares about you like you.
accepted a deal = activity Nope, not true. Read the law dumbass.
Looks like it's time to pay the piper.
Best bet: offer to pay the full balance in exchange for removing it from your credit report.
More bad advice. For a debt at or near the SOL (most states top out at 6 or 7 years), offering full payment is pretty silly.
Anytime you agree to new terms, the SOL clock starts all over again. No, it does not. The reporting period is not the same as the SOL. Neither the SOL nor the reporting period is restarted by agreeing to new terms necessarily.
SOL's are 100% state dependent. In some states like Texas, I can agree to new terms all day long. As long as they aren't in writing, legally, nothing changes. In other states, acknowledging a debt can restart the SOL. It just depends, but you can't make blanket moronic statements like the above. The 7 year reporting period NEVER EVER restarts until an account is brought current, because the FTC says so.
codename47 said:More bad advice. For a debt at or near the SOL (most states top out at 6 or 7 years), offering full payment is pretty silly. Hmmm... I'm struggling to figure out why my advice to "pay what you agreed to pay" is bad.
The world would be a better place if more people did what they agreed to do, no?
lorcha said:codename47 said:More bad advice. For a debt at or near the SOL (most states top out at 6 or 7 years), offering full payment is pretty silly. Hmmm... I'm struggling to figure out why my advice to "pay what you agreed to pay" is bad.
The world would be a better place if more people did what they agreed to do, no?
Its not bad advice, just not very smart. If the SOL is almost up on a debt, and remember that debt is compounded by huge fee,s and interest rates, then letting it just die is what everyone wants. Including the banks. They wrote off the debt and sold the note. The only one that wants your money is the collection company that purchased the note and they have no affiliation with the creditor. If you agree to pay them a dime, none of that money will ever go to the original creditor. It all goes to the collection company. Collection company is also a bit misleading. Most modern American collection companies are debt brokers, so they should be called "brokerage firms".
Once you see the account as written off on a report, leave it alone. You will do more harm than good to yourself by trying to pay it back. And never ever speak to a collection agency. Just hang up on them. If the send you a letter? mark return to sender.
There is a time and place for everything. Having a moral compass kick in after the fact is most likely the same kind of thinking and reasoning that got the person in a mess to begin with. It's called "bad decisions".
It's hogwash that OP will never have good credit. Once the reporting period has expired, he can expect the opportunity to establish himself as a good credit risk.
While it might (or might not) be better for the world if everyone paid their debts, it would be foolish for the OP to do so at this stage. What a great idea, he could pay for the privilidge of waiting another 7 years to reestablish his credit, vs suing the collection agency for the blatant violation of the FCRA in re-aging his debt. Let's see, collect $1000 and have a good FICO or pay umpteen thousand and have a bad score. Hmm, tough choice.
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