 Paying off credit card and overdraft debts? |
I have £3,500 on a credit card which is 16% interest rate which works out at approx £80 interest per month on top. I also have an overdraft of £600.
I have gone on to uswitch but ... |
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 When a credit says they ae going to take you to court for an 8 year debt are they lying or can they do that? |
| When a credit says they are going to take you to court for a 7 year debt are they lying or can they do that? I got a call from a "lawyer's office" saying that If I dont pay I will be ... |
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 Will i be able to make complete a transaction that exceeds my Credit Card limit? |
| i got a credit card with a limit of $500. its new so i havent used it yet. i can pay off the bills and wat not but i wanna know if i pay a ps3, an extra controller and rainbow six vegas, will i be ... |
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 What should you do when your parents taken out credit cards in your name and been using it? Also been late? |
| I love my mother very much but when i rcvd a call from collecters stating i have 5 credit cards in my name, i was very upset with her. I dont want to charge her with fraud but i need these neg- ... |
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 Collection Agency Question? |
I've heard conflicting information so I'm looking for some definitive answers. With regard to collection agencies:
1. Can they actually sue you and/or even collect the debt in ... |
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 Having "TOO" much Credit? |
Ok.
So I was told at the tcar lot today that I have too much credit and can't get a car.
I pay every single bill on time and have mulitple credit cards that i pay on time.
... |
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 Is this a scam? |
| Someone sent my wife a $3500 check from south africa with a letter stating I won a $900,000 drawing. They said the 3500 is to cover the taxes. They want me to cash the check and they will make ... |
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 I need car finance but have no proof of income and bad credit history is there any lenders? |
| i was discharged from bankrupacy 3 years ago and most of my work is cash so proof of income is difficult to ... |
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 If I pay my credit card off completely every month, then how does a credit card company make money off of me? |
| i've paid my credit card every month completely since i've had it. i have excellent credit. My credit card is American Express. If they know I pay it off every month then why do they keep ... |
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 Should teens have credit cards??? |
Only answer in
yes
no way
not sure
yes, but one that i can ... |
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 Credit Repair help! I have paid every bill owed on my credit report, meaning I am debt free, READ ON? |
however even though all my debts are paid
(what a great feeling)
my credit report is a mess because these lousy creditors have not updated my report. So in reveiwing my report I am so over ... |
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 What chances do I have of getting an auto loan with a 495 credit score? |
| im looking for a used car between $6000 and $9000. Will I be approved and what will my down payment need to be?... |
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 When you apply for a credit card online...? |
| ... after you submit the application and the screen says "your application has been approved"... would it still be possible for the card issuer to review your application again and ... |
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| I have a collection that is wrong but do I fight it or just pay it off? |
| I recently checked my credit report and found a collection on my account for a utility bill from 2004. The amount is not very large but I know it must be wrong because I never lived in that city ... |
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 When should I get a mortgage? |
| My lease is up on May 1st. I only have a small downpayment and my husband and I both have poor credit scores (mid 500s). Together our income is over 55000, but since we are young, we haven't had ... |
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 I have horrible credit and can't get a credit card? |
| I would like to get a credit card for emergencies like gas, prescriptions etc. My credit is terrible from being stupid when i was younger. I can't fix my credit right now because i don't ... |
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 Is there a way to know my VISA card number? |
| I put my Visa card in the bank's locker but i forgot the number, is there a way to remember what it is without getting the card?... |
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Dani | Is this legal? |
I had a credit card over 2 years ago. I lost my job, so I called them and made a deal (yes it was in writing) about my payments. They did not hold up their end of the deal, ended up charging off my card, and then turned me over to a collection agency for the remaining balance. Last January (2006) was the last time they reported a negative on my credit report and they turned me over to collections. I look today (3/17/2007) and within the past 2 weeks, they have entered negative reportings since the last one up to now. Is this even legal? They didn't report for over a year, sent me to collections, charged-off the account, and now reporting me negative? I know that the last negative (Jan. 2006) will stay on there for 7 years, but the rest after that should be taken off right? I have had no communication with them since they sent me to collections. I entered a dispute through the credit reporting today. My credit report went down over 80 points because of this. Help! |
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The Rock
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You are dealing with a beast with seven heads. Don't buy anything for seven years. Pay the dept. But you have ruined your reputation. Remember robbing a store or a bank with a gun is illegal. But they are robbing you with a pen. which my friend is perfectly legal. I have a company that came out of the blue. Claiming that in 1991. I charged $900.00 and that they need proof that I paid them. That was 16 years ago. It is now on my credit record. I have no way to prove it because I don't keep records of everything i puchased in my life. |
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candy
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I had trouble somewhat similar. I had paid off (or thought I paid off) my credit card when I moved. I called on the phone to aks for the most up to date interest and paid extra to to the payment over the phone in order to ensure that there wasn't any additional interest to worry about. I hadn't heard from the company at all for 6 months. No statements, nothing. I called them up to cancel the card because I hadn't used it at all during that period. Well, it turns out that there was $9.14 of interest that wasn't reported to me. So over 6 months of late charges, interest charges, etc. the bill climbed to almost $200.00. I was stuck arguing with the company AND a credit collection agency for two months before I threatened to sue them (between cursing and screaming) for harrassment and usury. It finally got resolved, thank GOD, but those marks still went on my credit for the late payments. I have been very good with my credit since then and I've recovered quickly. I would say your best bet it to try to reason with the original company and just keep asking to talk to the representative's supervisor until you get to someone who can really make a decision. You may have to be a total jerk, or they might work with you, it just depends on who you get. I'd look into legal representation if it is a large sum of money (maybe over 5K). |
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Faye H
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If it's all the same credit card, there should only be one negative report. They aren't allowed to put two or three different negatives on there for the same bill.
Dispute all of them and make them prove why they have it on there several different times. |
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scandalousvandelier
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I agree with K Hill below. I had a job right out of college for a couple years with a financial institution and sometimes we did collections. People every day were calling with big stories about how everything was confused and we made a mistake and blah blah blah. Then you'd look at their account, and 999 out of 1000 times, they just didn't pay their bills on time, period. That's the bottom line, people, you must pay 100% of your bills on time 100% of the time.
Continue with your dispute and see if you can sort it out or get it removed. In the meantime, still I wouldn't worry about it, just go on ahead, don't stop using credit, you need a good credit history to build your score back up, so just live your regular life and pay your bills on time and you'll be fine. |
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Scott K
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Not enough info. Did they promise to not report the aging of your account? or did they promise to report you as 'satisfactory? or 'as agreed?' And most importantly, have you held up your end of the bargain - every payment received, not sent by the due date? If they promised not to report the aging and you've made your payments as agreed to then you should contact an attorney. |
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Jackolantern
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The card company had a deal with you when you signed a contract to get the card. Hardly anyone reads the fine print.
Writing to them means squat. There are two ways to deal with card companies. No.1,and the best, get a loan from a bank to pay off the card. This way you have a person you can go and talk to and make further arrangements with if you are having trouble financially later on. And the rates are lower.
No.2,And the only other way to deal with card companies directly, is to get an attorney to talk to them on you're behalf. They HAVE to deal with you're attorney. Then if need be, he
can help restore you're credit status.
These two methods work equally well also with collection agencies. I would say good luck but if you use either of these suggestions, you won't need it. |
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khill
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Did you hold up your end of the deal? Obviously not, since they ended up charging your accout off.
They can report or update a tradeline or collection account as often as they want to. Many creditors do not update charged off accounts every month due to the cost. You can try to dispute the items directly with the 3 national bureaus, but the creditor is not required to delete any accurate information.
The statute of limitations is 7 years from the "occurance date," which is the date of the first missed payment which led to the delinquency, so all tradelines on your file should expire at the same time.
By the way, not using credit for 7 years will hurt you even more. You need to establish and use credit responsibly until the item is deleted, or better yet, pay the item, and you can recover even faster! |
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Mathew C
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Sometimes the credit card companies make mistakes. I had a Florida State University credit union Master Card my first credit card in US. Later I acquired other credit cards. When I finished my studies and was leaving US I made it a point to pay all the outstanding debts in full and came off. When I reached back in India and a few months later I started getting letters from the creditu union wanting me to pay some amount not much and they keep reminding me about it every six years or so. Even after 19 years they still do it. I don't know why. They do make mistakes we cannot help it. We are away from the home base. |
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CJ
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Hi - The important date on your credit report is the "last activity date". This controls how long it will be on your report (7 years). The last activity date is the last time you paid anything to them. It reages with every payment regardless of size. If you owe them money and you are not making payments, they can charge off the balance and sell your debt to another company. This opens a new collections account on your file and takes down your score. A debt, paid or not for a closed account will fall off your report in 7 years. I can't address the "deal" you made without details. You may have some rights there if you honored the agreement and they didn't. The written agreement is a contract. I use my Pre-Paid Legal membership to address this kind of problem. You can learn more about Pre-Paid Legal from website: www.wfwppl.com - there's a movie that will explain the service. Good luck. |
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SPIFIMAN1
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I wish you the best but you are most likely S.O.L. |
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