I'm having serious credit problems and am considering bankruptcy. I've been watching my credit report pretty closely as it has gone into free fall.
About a month ago, I realized that my total debt had dropped significantly. A credit card that I owed over $27,000 just disappeared. At first I thought it was because it had gone into collections.
However, when I dug further, I discovered that the debt was reported by the credit card company as going delinquent in 2006....not 2016. Obviously this was a typographical error. So the debt has "aged off" my credit report.
What should I do about this? I'm getting calls from a collection agency, so it hasn't gone away.
Thu Apr 14, 2016 1:01 am
Which state are you from? Can you tell us the name of the cc company? Who is the CA you are referring?
Thu Apr 14, 2016 11:36 am
I'm in Florida.....the credit card was from USAA. I'm not sure about the credit agency.
Subject: Need Help
Tue Sep 13, 2016 12:02 pm
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Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.