I will like to start looking to by a home next year.
I have 3 cell phone accounts in debt collections
tmobile 1036---Pinnacle Financial Group
att 450---National Recovery Agency
att 840---National Recovery Agency
these account are 3 and 4 years old. and been through various collection companies.
I have been offered 50% settlements on the accounts.
I believe these accounts are always being"refreshed" on my credit report and causes me to maintain a 650 credit score.
I am trying to figure out what are the best steps for me to proceed.
1.Should i just take their settlement offers? , would the remove it from my credit history and will it allow my score to raise?
2. Should it just start with the pay to delete letters? would this increase my credit score more than the settlement offer would?
So far the only action i am going to take today is to send debt validation letters to make sure they did not already sell the accounts
Thanks
Eric--NY
The federal SOL is 2 years
SUBCHAPTER IV--PROCEDURAL AND ADMINISTRATIVE PROVISIONS
Sec. 415. Limitations of actions
(a) Recovery of charges by carrier
All actions at law by carriers for recovery of their lawful charges,
or any part thereof, shall be begun within two years from the time the
cause of action accrues, and not after.
(b) Recovery of damages
All complaints against carriers for the recovery of damages not
based on overcharges shall be filed with the Commission within two years
from the time the cause of action accrues, and not after, subject to
subsection (d) of this section.
(c) Recovery of overcharges
For recovery of overcharges action at law shall be begun or
complaint filed with the Commission against carriers within two years
from the time the cause of action accrues, and not after, subject to
subsection (d) of this section, except that if claim for the overcharge
has been presented in writing to the carrier within the two-year period
of limitation said period shall be extended to include two years from
the time notice in writing is given by the carrier to the claimant of
disallowance of the claim, or any part or parts thereof, specified in
the notice.
(d) Extension
If on or before expiration of the period of limitation in subsection
(b) or (c) of this section a carrier begins action under subsection (a)
of this section for recovery of lawful charges in respect of the same
service, or, without beginning action, collects charges in respect of
that service, said period of limitation shall be extended to include
ninety days from the time such action is begun or such charges are
collected by the carrier.
(e) Accrual of cause of action for transmission of message
The cause of action in respect of the transmission of a message
shall, for the purposes of this section, be deemed to accrue upon
delivery or tender of delivery thereof by the carrier, and not after.
(f) Enforcement petition
A petition for the enforcement of an order of the Commission for the
payment of money shall be filed in the district court or the State court
within one year from the date of the order, and not after.
(g) ``Overcharges'' defined
The term ``overcharges'' as used in this section shall be deemed to
mean charges for services in excess of those applicable thereto under
the schedules of charges lawfully on file with the Commission.
(June 19, 1934, ch. 652, title IV, Sec. 415, 48 Stat. 1099; Pub. L. 93-
507, Nov. 30, 1974, 88 Stat. 1577.)
pay for delete would be better for your credit. I would try for a reduced offer on the PFD since this is beyond sol. but you also need to stop this from happening. go pre-pay
thank you for the advice!! After some research I decided the next action i should take was to send a debt validation letter with certified mail. If they are allowed to collect then i would make an offer with a pay to delete letter.
Cinnamngrl i did not really under stand the last part of you post.
"but you also need to stop this from happening. go pre-pay"
Thanks again
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4PwI8s I appreciate you sharing this blog. Awesome.