Question about EX showing CO balance as "written off"
myFICO Forums » Rebuilding Your Credit
by LRC
6m ago
Hi all,   Thank you for all of your help--these boards are truly helping me make slow but steady headway on my scores.   I just recently paid off old COs. Woot woot!   There are five COs on my reports: 2 Chase, 1 Discover, 1 Cap One, 1 Barclays. The DOFD is 6/22 for all.   I just pulled all three credit reports from annualcreditreport.com, and I see that on EX, there is a section where the OCs list how much of the balance was "written off. And to my surprise, the OCs mostly listed the full amounts of original balances as "written off."   I am confused, because I paid t ..read more
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Re: GW on accounts that still have a balance?
myFICO Forums » Rebuilding Your Credit
by stealth191
4h ago
The account was never sent to collections and there were never any payment plans or anything. It was just simply closed one day, much to my surprise, and I've been continuing to make the minimum payment, which changes, thru the app. I don't even think I got a letter saying they closed it or anything. Is this a CO?   With it just being the one late from 2019, maybe it's best to pif and then leave it alone.      ..read more
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Should I File Dispute Now or Wait?
myFICO Forums » Rebuilding Your Credit
by inth3moment
4h ago
I had a payment plan with Transworld Systems Inc that had automatic debits scheduled from a financial account every month to pay off a closed utility bill.   My bank rejected the autodebit on June 7, a week ago, and Transworld immediately reported the account as delinquent to all CRA's by June 11. My score dropped 77 points and now reflects this as the only delinquency on my credit profile.   I reached out to to the original creditor, who agreed to put in a request to pull back the debt from Transworld. The OC let me pay them directly for the entire balance earlier this week. They al ..read more
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Re: Moving on up to the double 7's club!
myFICO Forums » Rebuilding Your Credit
by keekers
7h ago
Congrats ..read more
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Re: Collections agency letter for balance of previously settled debt.
myFICO Forums » Rebuilding Your Credit
by Cowboys4Life
8h ago
"I negotiated to settle for a portion of the full amount. tsi confirmed with me it will settle/ close the account and sent me a letter verifying this."   Get the letter they sent you out and read all of the terms.  Does it settle the entire debt in full including the landlord or only settle with TSI?  I suspect it is the latter and why the landlord send the balance to Hunter Warfield.   "I also tried to reach out to the landlord to settle with them and they said it was with Hunter Warfield, so im not sure why I was getting letter from tsi. "     My guess is w ..read more
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Re: 2 old Bad Debts of $16k+ staining my scores.
myFICO Forums » Rebuilding Your Credit
by ptd0313
9h ago
@GZG Awesome, thanks for the advice. In my chase banking app they actualkly are already offering me to pay it off for just $632. I'm happy to pay the $632, or the full $4265. Is there any reason to pay the full amount as opposed to the offer of just 15%?   Thank you again! I really appreciate you taking the time to write the above comments ..read more
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Re: 2 old Bad Debts of $16k+ staining my scores.
myFICO Forums » Rebuilding Your Credit
by GZG
9h ago
@ptd0313 wrote: Thanks for the reply @GZG . It looks like chase is still reporting monthly. I see on equifax that it looks like they did not report July 2018 to July 2023 for some reason, but then I see them reporting as charged off from August 2023 to May 2024 each month.    That said, it sounds like I probably had the right idea? Wait for the big one to fall off, then settle with chase in full, or accept one of their offers of a smaller percentage?   Also, if I pay the chase amount in full today, will that stop it from falling off next year?    Thanks ..read more
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Re: 2 old Bad Debts of $16k+ staining my scores.
myFICO Forums » Rebuilding Your Credit
by ptd0313
10h ago
Thanks for the reply @GZG . It looks like chase is still reporting monthly. I see on equifax that it looks like they did not report July 2018 to July 2023 for some reason, but then I see them reporting as charged off from August 2023 to May 2024 each month.    That said, it sounds like I probably had the right idea? Wait for the big one to fall off, then settle with chase in full, or accept one of their offers of a smaller percentage?   Thanks again ..read more
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Re: 2 old Bad Debts of $16k+ staining my scores.
myFICO Forums » Rebuilding Your Credit
by GZG
10h ago
I assume based on you're past the SOL on both of these debts, so neither bank can sue you if they haven't already. But I'd double check to make sure.   Assuming you wait for FNBK to fall off, if you do want to a get a mortgage, that will likely require paying in full or settling in full with Chase if you want to do so before it will fall off.    They won't remove their reporting, but if you wanted to purchase a home, you'll probably have to get that settled so it shows a $0 balance, you can likely do so for a % of what you owe. I've seen Chase accept pretty low percentages for v ..read more
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Collections agency letter for balance of previously settled debt.
myFICO Forums » Rebuilding Your Credit
by Siderow92
10h ago
I had a landlord send some back rent to a collections agency, which I negotiated to settle for a portion of the full amount. tsi confirmed with me it will settle/ close the account and sent me a letter verifying this. About a month after paying them, a new collections agency (Hunter Warfield) has sent a letter for the remainder. This is not a small sum of money and I acted in the best faith I could, paying the most I could, and have a hard time believing this is legal. Any suggestions on how to handle tsi or Hunter Warfield, or if I should be reporting this anywhere? Thank you!   I also t ..read more
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