Bs

[Citizen1]

I just signed up, logged in, and typed out a huge post for advice. Hit submit new thread button and it told me I wasnt logged in. tried the back button but the post was gone.

I am way to pissed to type it all again.

Thanks anyway :mad:

[NightStar]

Sorry to hear of your problem with posting. What I usually do is type out the entire post, then select and copy. Then hit submit and log in again. Then paste in the post again.

[WhatTheFrank.com]

If you would have logged in it would have taken you back to your posting.

[Citizen1]

Well lets try this again now that I have some time. :wave: Man, I was frustrated the other day! :cussing:


Well my GF has messed her credit up pretty good. she has 4 accounts or so in collections totaling maybe 5 grand. Two of these are cc's and the other two are Dept store cc's.

She has two lines of credit open. Her auto loan (which is at 14%!!) and one other dept store. Both are in bad standing due to late pay's, but still open.

I have a few questions as far as how to proceed from here. but let me ramble some more first.

What I plan to do at this point is get her two open acct's current and in good standing. Maybe after a few months of being in good standing she could refinance her car, which believe it or not, is worth more than she owes on it. Maybe she could refinance her auto and use the extra money as a way to consolidate? If she could make one payment on an $8,000 loan, at even 10%interest, it would be less than her current car payment. Seems to make sense.

finding someone to work with her/loan her money is another issue, as I'm sure her credit score is awful.

Collections agencies. I have never dealt with them before. Right off the bat I dont trust them and feel as though they are out to scam her. She has had offers for settlements on two of the accts. Why pay a settlement if it does nothing to repair your credit? If she pay's a settlement and it still reflects poorly on her credit score, why not just wait for the SOL?

Is it possible to send payment to the original lender at all? If we have a remit address and right the original acct # on the check and send it certified mail. Does this or would this work? Or does the original lender want nothing to do with her to the point of not even recognizing the acct #? If she gets the auto refi loan somehow (what are the odds of a secured loan with bad credit?) and wants to pay these off, whats the best way to do it?

Thanks for any insight into how this game is played.

[NightStar]

If the accounts are still open but late what she wants to do is pay them back current and ask the credit card company to re-age the debt, make it current and report pays as agrees to the credit reporting agencies.

If the accounts are charged off or in collections, then she should offer payment for deletion of the negative listing. Or offer the creditor payment to keep the account from going to a collection agency, might get a settled in full reporting even if you pay less then full balance.

Understand that if you settle and save more then $600 then the credit card company can send a 1099-C form, earned income tax. You would have to pay taxes on the money earned. Or I would say she would not you. But you get my meaning I hope.

If you can't get them to delete, she can always dispute with the credit reporting agency and try to get the item deleted. Start out with a not mine dispute, if that don't work, start looking for errors in the reporting you can dispute any part of the tradeline, status, dates, balances.

Hope this helps.