What's The Correct Procedure for Handling This?

[cstar33]

Okay, so I have this on my report:


MACYS FEDERATED DEPARTME #
9111 DUKE BLVD
MASON, OH 45040
(800) 243-6552
Balance: $ 231
Date Updated: 05/2009
High Balance: $ 532
Past Due: > $ 231 <
Pay Status: >Charged off as bad debt<
Account Type: Revolving Account
Responsibility: Individual Account
Date Opened: 12/2001
Date Closed: 02/2009


Loan Type: Revolving Account - Charge Account
Remark: Acct closed by credit grantor
Estimated date that this item will be removed: 01/2016

So, I have been making payments to ING (Island National Group) and the balance is correct. However, shouldn't the Pay Status show as "paid or paying as agreed" ??? Or should I contact Macy's directly to set up a payment with them?

While I'm at it, I have some current credit cards that the High Balance is above the credit limit. I know this looks very bad, but the reason was for late charges because my payments all got lost in the mail (or atleast that's what I have to believe). Is there anyway to get the Credit Card Companies to remove the high balance/change to the credit limit?

Thanks!!!

[Trish]

You can always call the companies to ask about changing the high balance. If that doesn't work then a gw letter might.

Is ING the CA for Macy's? Do you know if they bought the debt or if it was just assigned? If not, I would call up Macy's and ask them. If the debt was only assigned, they may agree to take payments directly from you instead of through a CA (I recommend this if possible).
If ING is the CA, they cannot control how Macy's is reporting (unless they are maybe an in house CA which I kinda doubt)......only Macy's can.

[jjgross]

Originally Posted by cstar33

Okay, so I have this on my report:


MACYS FEDERATED DEPARTME #
9111 DUKE BLVD
MASON, OH 45040
(800) 243-6552
Balance: $ 231
Date Updated: 05/2009
High Balance: $ 532
Past Due: > $ 231 <
Pay Status: >Charged off as bad debt<
Account Type: Revolving Account
Responsibility: Individual Account
Date Opened: 12/2001
Date Closed: 02/2009


Loan Type: Revolving Account - Charge Account
Remark: Acct closed by credit grantor
Estimated date that this item will be removed: 01/2016

So, I have been making payments to ING (Island National Group) and the balance is correct. However, shouldn't the Pay Status show as "paid or paying as agreed" ??? Or should I contact Macy's directly to set up a payment with them?

While I'm at it, I have some current credit cards that the High Balance is above the credit limit. I know this looks very bad, but the reason was for late charges because my payments all got lost in the mail (or atleast that's what I have to believe). Is there anyway to get the Credit Card Companies to remove the high balance/change to the credit limit?

Thanks!!!

There should be no past due,its a closed account and charged off.Remember not all payments get posted on the day its recieved if its received on friday it's not going to get posted to late monday or tuesday.So you might try a goodwill letter,to them.

[Trish]

If it's a Macy's acct......and Macy's is the one reporting it, then it can actually be reported as past due.
If the consumer has entered into and agreement/payment plan/contract and failed to make a payment.......then it can be reported as past due.

It's a CA reporting it in which you never had contact with or made an agreement with that cannot report a past due balance.

[coldweatherMN]

If the Macy's account is closed. Either by your or by them and you still have that balance of $231 or whatever it was... yes, it's past due. The entire balance was due when the account was closed.

They are reporting that accurately. The best thing you can do is a GW and explain yourself (without emotion!), don't beg. Tell them you are a faithful loyal customer and you love their store, you shop there regularly when your finances allow it and you will continue to do great amounts of business with them. Mention a store clerk by name as though their exceptional Customer Service is a main reason for you shopping there. Kill them with kindness. Ask them to remove the derog info as a trade for a lump sum payment understanding that you will continue to shop and spend money in their stores. Make it sound damn attractive to them and don't make yourself look like everyone else. You have to be different and they have to like you. Do some research and send the letter to someone high up - not too high though. The CEO doesn't give a rip, but the VP of Customer Care definitely will, so will the guy that runs the Collections department - he doesn't get nice letters, he only gets nasty ones. Send it to as many people as you can in the organization. The first time you get a NO - don't stop there... keep spaming them.