Great video, thanks! Question... How would you treat an account appearing 3 times, same amount, same open date, same creditor (pretty much everything is duplicated), but different account numbers?
Thanks. Is it a resolved debt, or one that still shows as unpaid? If it is unresolved what is your goal for resolving (if any)? I ask because I would be disputing these entries, but I may wait to do that depending on my goal for resolving it. When did you stop paying on it? What state are you in?
thanks so much Michael! I wanted to ask you a question, I received an email from FT requesting that I contact their Special Assets Management Department. I am approximately 107 days late. First off, does it make sense to contact them? or wait til 152 days late? Also how do I confirm exactly how many days late I am?
First Tech is typically going to share an accurate amount of days late with you. You can also base it off of what they share with the credit bureaus, or count 1 month after you missed your first required minimum payment. It can make sense to contact some creditors to communicate a hardship prior to when you would typically expect to be able to settle for the best savings. You never know if they will make a great offer earlier than normal. You can set the table with hardship dialogue that will be in the notes for later efforts. As a general rule of thumb, I would typically not make outbound calls to talk settlement this early, but would be okay with the topic if they brought it up.
So I have the original credit union that we had a loan through showing a balance up on our credit reports and it goes up every month, also a higher balance that also increases every month for the same debt shown under the name of the collection agency they assigned our debt to and obtained a default judgement against us. Is that double Jeopardy? The credit agency says their balance reflects the court fees owed to them from the judgement but they do not own the debt, the Credit Union made it clear to me that they still own the debt.
Are you saying there is a judgment in the public records section of your credit reports on top of the original credit union reporting? Or is it that both the collection agency and the credit union are showing as key derogatory debts in the collection accounts portion of your credit reports? Who is the credit union, and who is the collection agency reporting?
@@MichaelBovee on our credit report shows an auto loan that is closed/charged off through Ventura Credit Union for $9,519 but it goes up every month and under collections $11,680 for with Fidelity Creditors Services, who are assigned our debt and obtained a default judgement. Understand interest is being charged at 10% but not why the balance with Ventura continues to go up and why it doesn't match FCS.
Thanks. Both places should not be showing a balance owed to them. I would talk your situation over with an experienced debt collection and credit reporting consumer law attorney in your state. You can find some using the drop down menus here: www.consumeradvocates.org/find-an-attorney
