Charge off question

[Anonymous]

This is my first post here so I wanted to start out by saying hello to everyone. I'm in the process of trying to fix some things on my credit report which I haven't pulled in a few years now. I think I've just been naive where that is concerned. Out of sight, out of mind, so to speak. Bad choice, I know. Please excuse any off the wall questions....I am new to this. I just recently pulled an equifax report and noticed 2 charge offs. One is from Sears/CBSD (Citibank) that the balance/charges were disputed to Sears, in writing, by me, back in 04/06. Never heard back from them so I ASSumed it was taken care of. Low and behold, $337 was charged off back in 06. I haven't heard from them or anyone representing them but it is showing on my CR. What should I do? Dispute with CRA's? The second charge off is with Washington Mutual/Providian. Date opened 06/04, Balance is $0, date reported 02/07, Past due $0, Charge-off, Credit limit $446. What does that mean? Its showing a zero balance. Is that because they sold the debt? Now, I know it has been sold because Arrow Financial is actively trying to collect. I just DV'd them this morning. They claim the balance is $284 and attempted to settle with me for around half of that. WaMu has recently sent me a cc pre-approval letter in the mail. Imagine that! Is there any way to use that to my advantage as far as getting the charge-off deleted? They charged off my previous account but want my business again?? Any help would be GREATLY appreciated. Thanks so much.

[Anonymous]

::::bump:::: Please. =)

[Anonymous]

Can you break this up, please?

[Anonymous]

Welcome to the forum. There are things that you need to know before doing anything with your CR.

Please read the thread for newbies. This thread has all the abbrevs that we use and the freqent requested thread. The freq.requested thread is loaded with info!

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=38534

Know your SOL....so you do not have a creditor file suit against you.

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

If you received credit in one state & moved they can file in either state!

CRTP v SOL

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17466

Always ask as many questions as you need!!!!

The dates that you need to know are the DOFD/DOLA   the date opened...closed....COd  ddo not matter.  Every time that you dispute with the CRAs causes the debt to update & look current!

On you CR the REPORT date is just that....the date that it was reported by the OC or CA.

When a CA first startes to report they will show  date opened.......this only means it is the date that they were assigned or bought the debt.

The OC is the only one that sets the DOFD!!

Message Edited by HappyDays on 05-14-2008 11:02 AM

[Anonymous]

This is my first post here so I wanted to start out by saying hello to everyone. I'm in the process of trying to fix some things on my credit report which I haven't pulled in a few years now. I think I've just been naive where that is concerned. Out of sight, out of mind, so to speak. Bad choice, I know. Please excuse any off the wall questions....I am new to this.

I just recently pulled an equifax report and noticed 2 charge offs. One is from Sears/CBSD (Citibank) that the balance/charges were disputed to Sears, in writing, by me, back in 04/06. Never heard back from them so I ASSumed it was taken care of. Low and behold, $337 was charged off back in 06. I haven't heard from them or anyone representing them but it is showing on my CR. What should I do? Dispute with CRA's?

The second charge off is with Washington Mutual/Providian. Date opened 06/04, Balance is $0, date reported 02/07, Past due $0, Charge-off, Credit limit $446. What does that mean? Its showing a zero balance. Is that because they sold the debt? Now, I know it has been sold because Arrow Financial is actively trying to collect. I just DV'd them this morning. They claim the balance is $284 and attempted to settle with me for around half of that. WaMu has recently sent me a cc pre-approval letter in the mail. Imagine that! Is there any way to use that to my advantage as far as getting the charge-off deleted? They charged off my previous account but want my business again??

Any help would be GREATLY appreciated. Thanks so much.

[Anonymous]

Dispute the Sears account with the CRA...if it comes back verified...they send the OC DV letter to the OC...was it reported to a CA...Was the WaMu account sent to a CA???....in that case it should show a $0 balance...Is the CA reporting as well???....You can also send the OC DV letter to the OC....I've heard that Wa Mu doesn't give CC to those who have defaulted in the past..so they must not have any record of the account anymore? So send that OC letter to them...

[Anonymous]

WaMu account was sold to Arrow Financial who is trying to collect now. Sent Arrow a DV letter via CMRRR this morning. Just surprised that WaMu sent a pre-approval letter when they have a CO with me from 06. Both OC and CA are reporting.

The Sears/Citi account hasn't been sold since they are still showing a balance on my CR. They haven't attempted to collect at all. I'll send dispute letters to the CRA's and see what happens. This will open up a can of worms, I'm sure. I had pictures of my kids made in their portrait studio, paid via their credit card. Went to pick up the pics and they were no where to be found. Disputed the charges in writing and never heard from them again. Wouldn't even know anything about it if I hadn't pulled the report.

[Anonymous]

Got another quick question..... I have no active credit cards right now. Since WaMu sent me a pre-approval letter, should I apply for it? :::wink::: (even though I have a charge off with them from 06)

[Anonymous]

Just went to the getmyvisa dot com site to apply for the pre-approval that WaMu sent me and they have my first name listed as my last and vice-versa. Could be why I received a pre-approval even though I have a charge off from them. UGH. Should have known it was too good to be true. I can't seem to get a CC from anywhere without an annual fee. Any advice?

[bridgetkaryn]

HI,

I can totally sympathize... I just got a $500 CC from BofA. It has a $59 annual fee, but from my research, they are GREAT about CLI as long as you show a good history with them... :-) Which compairitively is low to other cards who will take low FICO scores. I see a lot for $129/yr or MORE!

I would check it out... I applied for a student visa, got denied but then offered this one./... I took it...  Anything to show that I am responsible and can handle a credit card.

Hope this helps!

Bridget