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:( I have two different issues that I need to deal with.

#1- Yesterday (10/6/07) I received a letter in the mail from Jefferson Capital Systems, LLC regarding a Sears account from 11 years ago. The letter states that NCO Portfolio Management placed my account with them for collection of $991.00. It appears that the settlement they are offering ($375)is tied to some kind of balance transfer to an Emblem Mastercard.

There is absolutely nothing regarding this account showing on my credit report, and hasn't in at least 4 years. Should I DV Jefferson, or just leave it alone?

#2- I have a derogatory account with BB&T for $1200. It is from a Mastercard that I got from them years ago with a $300 credit limit. I maxed the card out on a car repair, and I would estimate that I have paid them around $3000 over the last 6 years trying to get it paid off. Last year in August, I got so frustrated that I just quit paying on it (I know that was a really stupid thing to do).

I have received a letter from a collection agency regarding the account, but BB&T is the only one reporting the derogatory account on my credit report. The collection agency is not reporting to the CRAs. Which company should I contact? BB&T or the collection agency? If I pay BB&T, is it reasonable to ask for a "pay for delete", and should I try to settle for less than the $1200 they say I owe?

I really appreciate any and all constructive advice. Thank you!




Someone should be along to help you soon Guest! On the Sears one, I think you might be past the SOL, so I'm wondering too if you just leave that alone.

Both are good questions!

Sub: #1 posted on Sun, 10/07/2007 - 19:15

lawn1016 lawn1016

(Posts: 676 | Credits: 70.59)

Questions to your question:

#1-What state are you in?
Sounds to me like it is a joint marketing ploy...


#2-DV the Collection Agency and contact BB&T...but if not both, absolutely DV the CA.

Sub: #2 posted on Sun, 10/07/2007 - 20:22

volleyballmom volleyballmom

(Posts: 4143 | Credits: 284.52)

On the eleven year old debt,do not accept this settlement as it involves a new credit account.This would reset sol for court and reporting. Dv both debts certified return receipt mail.

Sub: #3 posted on Mon, 10/08/2007 - 04:40

cajunbulldog cajunbulldog
Moderators
(Posts: 4859 | Credits: 424.99)

On the 11 year old debt dont bother with it, it will reset on your credit report for another 7 years, The sol has already past4 yrs ago so you are clear of that one. If you want to try and negotiate the other debt, the $1200 one, dont pay anything until you can negotiate a letter of deletion if you agree to pay $500 or $600. The reason I say about $500-$600 is because it most likely gone to a collection agency now and they would just be happy to get anything that you pay, so just negotiate first on an amount then ask for a letter of deletion, NOT a Letter Of Payment, this will mess your credit up more. The Deletion will clear that debt from your Credit Report.

Sub: #4 posted on Wed, 08/13/2008 - 10:10

Unregistered


BigB...this thread is a year old

Sub: #5 posted on Thu, 08/14/2008 - 02:44

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

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