| Author |
Message |
quiha2
Joined: 21 Apr 2009
Posts: 1
1.42 Dollars($)
|
Post subject: Charge offs |
|
|
Need a little help with charge offs.
I was behind on my mortgage for 4 months or more and finally was able to settle on a short sale. Now that the sale is complete, how does the "charge-offs" affect my credit? My charge offs are at 0 balance. Do i need to contact my bank and have them remove this or how does it work for short sales? Will the bank still come after me for funds that were not paid but was settled on a short sale? When i check my credit report, i see "charge offs" on both the loans. Thanks |
|
|
adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
|
|
Post subject: |
|
|
Hi quiha,
You have mentioned that your property was short sold so the question of charge off does not arise. If a charge off is wrongly mentioned in your credit report, then you can dispute it with the bureaus and remove it from your credit report.
_________________
Procrastination is the enemy of your financial sucess |
|
|
prune
Guest
|
|
Post subject: lien |
|
|
| I received a notice that a lien has been filed on a debt that is way past the sol. what should I do now/ |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
|
|
Post subject: |
|
|
Hi Guest!
Welcome to forums!
As the SOL period is over, the lender cannot take any legal action against you. You should send a letter to the lender stating that the SOL period is over and that he cannot take legal actions against you. Do not start paying the debt as it will renew the SOL period.
Sussane |
|
|
anonymous2812
Guest
|
|
Post subject: SOL and collection agency rights |
|
|
| SOL has expired on my debts and entries have been removed from the credit bureaus. Now I found out that some junk debt collection agency started to send me letters at home saying I owe them this outrages amount of money on those debts that been takes off from Credit bureaus. My question to you is, can these entry apear again on credit bureau if this collection agency reports it. It is so illigal that I am looking into suing but in meantime I need to know answer. Please help |
|
|
anonymous2812
Guest
|
|
Post subject: SOL and collection agency rights |
|
|
amith.sussane,
Can collection agency report " zombie" debt back to credit bureas? |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
|
|
Post subject: |
|
|
Hi anonymous,
If the SOL period is over, then the collection agency cannot report it to the credit bureaus. But if the SOL period id not over, then the collection agency has the right to collect the dues from you and can also report it to the credit bureaus.
Thanks |
|
|
dakota
Guest
|
|
Post subject: |
|
|
| how do you make arrangements to pay off the debt after a charge off? |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
|
|
Post subject: |
|
|
Hi dakota!
Welcome to forums!
You will have to contact the collection agency and they will let you know the amount you need to pay in order to remove the charge off from your credit report.
Sussane |
|
|
anonymous102938
Guest
|
|
Post subject: is this legite? |
|
|
| how do i know weather the original collector sold my account off to another collector? how do i know if the so called current collector is legite? |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
|
|
Post subject: |
|
|
Hi anonymous!
Welcome to forums!
You can call your original lender and check with him whether or not he sold your account to a collection agency or any other collector. You can even ask him to send a certified mail to you stating the details about your new collector.
Feel free to ask if you've further queries.
Sussane |
|
|
caramel_star_maroon
Joined: 23 Jun 2009
Posts: 9
5.13 Dollars($)
|
|
Post subject: |
|
|
| thanks for the information i working on this right now i got to get out off this APT!!!! |
|
|
smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
|
|
Post subject: |
|
|
You're most welcome Caramel!  In case you've further queries, post your question in the forum and the members/experts participating here would try to answer your query.
Sussane |
|
|
Majid
Guest
|
|
Post subject: Hi |
|
|
I had three cedit card and I was not able to pay for it since 2003. Two charged off and one sold to thrid party .
How can I remove theses from my credit report |
|
|
gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7448
Location: bloomfield, ct
70.12 Dollars($)
|
|
Post subject: |
|
|
majid, the easiest way to clear things up on a credit report is to make payment in full. if you wish to negotiate with these creditors to seek a reduced amount, that's clearly acceptable too.
some people would tell you to dispute the accounts, but that's chicanery. you've already said you were responsible for the debts. if you have the wherewithal to pay them, do so and you'll see an improvement on your credit report.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
|
|
Credit Problems and Repair Forum
Previous 1 2 3 4 5 6 7 8 Next 
