new with questions

[mcc]

Hello. I've been reading for about two weeks now trying to figure out my best course of action.

Just in the last year I had 3 charged off accounts put on my credit report. I still have my mortgage and 1 credit card in good standing. I lost my job and just wasn't able to pay. Unfortunately, I made the huge mistake of not calling my creditors and trying to work out something with them before this happened.

I have pulled all 3 credit reports. I am trying to understand them. There are a couple of things I am not sure about so I will dispute them with the CRA's. I have one medical bill for $10 that I wasn't even aware of so I am just going to send a PFD letter for that - will medicals usually agree to a PFD?

My main concern is the three charge off's. I will have the money to pay them in about 30 - 45 days. Would my best course of action be to just issue them PFD's without doing DV's and disputing with the CRA's?? The three accounts were with Citibank, Macy's and Old Navy. And if I were to get them to agree to a PFD would that improve my score since I still have my mortgage and one card in good standing. Those are the only bad things on my credit and I have a long history of good credit, payments, etc.

[94B]

Originally Posted by mcc

I've been reading for about two weeks now trying to figure out my best course of action.

Have you the basics of credit repair already? If not, do that FIRST.

Originally Posted by mcc

I have pulled all 3 credit reports. I am trying to understand them. There are a couple of things I am not sure about so I will dispute them with the CRA's. I have one medical bill for $10 that I wasn't even aware of so I am just going to send a PFD letter for that - will medicals usually agree to a PFD?

As far as the medical goes, how old is the account? If it's fairly new, I would consider directly dealing with the OC. I am not sure whether they would agree to a PFD or not. Your best bet is to see if they will pull it back from the CA so you can pay them directly. You don't want to go and pay the OC without them agreeing (hopefully written agreement) to pull account back, otherwise you'll just have a "paid" collection on your credit reports.

You can also dispute the account with the CRA(s) reporting it using the medical dispute letter once you've done the basics of credit repair.

Originally Posted by mcc

My main concern is the three charge off's. I will have the money to pay them in about 30 - 45 days. Would my best course of action be to just issue them PFD's without doing DV's and disputing with the CRA's?? The three accounts were with Citibank, Macy's and Old Navy. And if I were to get them to agree to a PFD would that improve my score since I still have my mortgage and one card in good standing. Those are the only bad things on my credit and I have a long history of good credit, payments, etc.

Are these 3 accounts in the hands of CA's yet or still with the OC's and showing as CO's? How old are these accounts?

[mcc]

Originally Posted by 94B

Have you the basics of credit repair already? If not, do that FIRST.

I have read through all that. I opted out about three weeks ago or so. I pulled all three credit reports. I have my validation letters to mail out this week.



As far as the medical goes, how old is the account? If it's fairly new, I would consider directly dealing with the OC. I am not sure whether they would agree to a PFD or not. Your best bet is to see if they will pull it back from the CA so you can pay them directly. You don't want to go and pay the OC without them agreeing (hopefully written agreement) to pull account back, otherwise you'll just have a "paid" collection on your credit reports.

It's from December 08. I am sending a validation letter to the CA listed on my CR this week and hoping to be able to pay the OC directly with a PFD letter. It's only for ten bucks. I want to wait and see if the CA validates first. Is that right?




Are these 3 accounts in the hands of CA's yet or still with the OC's and showing as CO's? How old are these accounts?

They were all just charged off this year, around April/May/June. They are new, so I know that probably really lowers my chances of getting a PFD from them.

Macy's only shows charged off/account closed. No CA reporting and no CA has contacted me.
Citi is showing charged off and one CA reporting. Two CA's have sent me letters for the same debt.
Old Navy is showing transferred/sold. $0 balance. One CA reporting, but I was never contacted by or received a letter from a CA on this one. I have a validation letter ready to go to them as well.

They are showing different amounts on all three CR's.