Credit Tips: Credit Card Charge Off Tips
Posted On: April 1, 2006
Author: kemmyj
Posted: Tue Jun 28, 2005 3:30 pm
Post subject: so many charge offs, so little time
When I graduated from college, I had an amex, att universal mastercard, discover, and mbna visa, all already in collections. I went on a frenzy my freshman and sophomore year and ran up all of the credit limits. By my junior/senior year, I was already in credit card debt. That was in June of 2005. I have not paid on them at all. Since then they have all been charged off. When I check my credit reports, they all seem to keep moving from one collection agency to another. When it happens, I will get a letter offering a settlement deal. It is now 5 years later. In addition to these, I owe sprint and I defaulted on my school loans (direct from the school) and had to pay off a jcpenny account that I shared with my mom. I was a 2nd user, ran it up, didn’t pay, they sent her a summons, and I paid it off before she went to court. I basically have no good credit at all. I have a ton of student loans because I am getting my masters. I just bought my first car on Saturday. I am looking forward to making the payments to establish a payment history. In addition, I have been paying www.lexingtonlaw.com since January of 2004 to help with my credit. They have gotten a ton of deletions off of TU, but experian and Equifax are still carrying a lot of negative accounts.
I have now grown (26) up, and am ready to take charge of my mess. I have been denied an apartment due to credit (how embarrassing). In Januar of 2004, my score was 530. I want to buy a house with a good interest rate within the next 3 or so years. I want to apply and be approved for a major credit card within the next 3 years or so. Now, I am confused on if I should settle with the collection agencies, wait the 7 years, or contact the companies directly to work something out.
By the time I am 30, can I realistically expect to have a good score and credit?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Tue Jun 28, 2005 4:23 pm
Post subject: Credit Card Charge Off Tips
You say the accounts are 5 years old now, in 2 years they will be gone. Except for your most recent ones. On them need to know when you defaulted also and what state you are in to check SOL. Need to know the last activity date on the account.
There are a few things that you can do here, if you can please wait, I have to leave and won’t be back until after the 3rd. I will give you a fuller run down on what you can do then. Just need more info first from you to go off of.
_________________
Best Regards,
Pammila Phillis
Board Monitor
http://www.cardratings.com
501-663-0314 PH
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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Credit Tips: Credit Card Charge Off Tips
Posted On:
Author: kemmyj
Posted: Tue Jun 28, 2005 3:30 pm
Post subject: so many charge offs, so little time
When I graduated from college, I had an amex, att universal mastercard, discover, and mbna visa, all already in collections. I went on a frenzy my freshman and sophomore year and ran up all of the credit limits. By my junior/senior year, I was already in credit card debt. That was in June of 2005. I have not paid on them at all. Since then they have all been charged off. When I check my credit reports, they all seem to keep moving from one collection agency to another. When it happens, I will get a letter offering a settlement deal. It is now 5 years later. In addition to these, I owe sprint and I defaulted on my school loans (direct from the school) and had to pay off a jcpenny account that I shared with my mom. I was a 2nd user, ran it up, didn’t pay, they sent her a summons, and I paid it off before she went to court. I basically have no good credit at all. I have a ton of student loans because I am getting my masters. I just bought my first car on Saturday. I am looking forward to making the payments to establish a payment history. In addition, I have been paying www.lexingtonlaw.com since January of 2004 to help with my credit. They have gotten a ton of deletions off of TU, but experian and Equifax are still carrying a lot of negative accounts.
I have now grown (26) up, and am ready to take charge of my mess. I have been denied an apartment due to credit (how embarrassing). In Januar of 2004, my score was 530. I want to buy a house with a good interest rate within the next 3 or so years. I want to apply and be approved for a major credit card within the next 3 years or so. Now, I am confused on if I should settle with the collection agencies, wait the 7 years, or contact the companies directly to work something out.
By the time I am 30, can I realistically expect to have a good score and credit?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Tue Jun 28, 2005 4:23 pm
Post subject: Credit Card Charge Off Tips
You say the accounts are 5 years old now, in 2 years they will be gone. Except for your most recent ones. On them need to know when you defaulted also and what state you are in to check SOL. Need to know the last activity date on the account.
There are a few things that you can do here, if you can please wait, I have to leave and won’t be back until after the 3rd. I will give you a fuller run down on what you can do then. Just need more info first from you to go off of.
_________________
Best Regards,
Pammila Phillis
Board Monitor
http://www.cardratings.com
501-663-0314 PH
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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