Collection, charge off help!!! thank you!

Hi. I just joined this group hoping to get some help with a very strange problem, i am having with some creditors. Please help me if anyone knows what I should do.

Here’s my story, in 2009, i had about 3000 dollars credit card debt, very little, 4 creditors. I had a great job as a broker, and had perfect credit. One day, i came down with chronic fatigue and couldn’t work at my awesome job, so i had to go on state disability for what i thought would be a short time while my insurance kicked in, well they fought me for 2 years, to not have to pay my ltd. I did hire a great attorney who fought for me for 2 years and finally got my benefits in place. During that time, my income went from $5000 a month to $1200 a month, i am a single mom, my daughter was 3 at the time, and our rent was $1200. I called the creditors begging them to give me some time while my disability benefits went into place, of course they didn’t and sent these off to charge offs. So I knew i would have to wait the 7 years for these to fall off. I haven’t checked my credit report as it is so degrading to live with such a low fico score and live in poverty not having anyone to rent to us because of these $3000 of charge offs, so very sad our credit laws..

Anyways, i decided to check my credit report as it has been 7 years and my fico score was stll quite low at 525. But the terrible thing is these creditors from before had sold these loans this year (7 years after they were charged off) to 4 collection agencies and they have all reported me as a current collections. Plus i have one on there from last year for the same creditor, which means there are two current collections for 2 different collection agencies for charge offs done in 2009. I am so shocked and cant believe this so i called trw and they said these will stay on there for 7 years and i can add a letter to my file, this isn’t right, these should be dropping off this year not going as current collections. I haven’t used any credit in 7 years, nothing and these are from the old charge offs. How does this happen, and does anyone know how do i get these collections off my report as they aren’t right. Is this just too weird. Who would have thought that becoming to ill to pay for $3000 would put someone in the place where you are thought of as a deadbeat and no one will even take a rental application for an apartment with this score.

uggh, i am in a funny spot, i just want to rebuild my credit and be a normal human being again. Any advice would be greatly appreciated. thank you.

New – have a question

I am new to this site and have a question. I am seriously in debt (142k) and I just lost my job. I am currently not behind on any payments and I would like to negotiate settlements and get rid of all of this. I will not have the means to pay the next round of payments if I don’t get a job son and even then, it will continue to be a more difficult hardship. Will my creditors negotiate with me now, even though I am not behind yet?

Any advice is appreciated.

Probably not. It’s been my experience that they will only begin negotiations when you’ve missed 3+ payments.

Thanks for advice about making attempts to start to get out of debt!


Thanks for advice about steps to take to get out of debt.

I’ll try but I feel like into this debt thing like a drug addict is into drugs! And I do not do drugs or have a drinking problem. That is the thing about I am a responsible adult but got into this mess. Like you said try to come up with a plan to get out of debt!

At least some good news today found out I don’t owe the IRS as much as I thought I did well sounded good at time till come back to the indebtness we are in! I can really get negative on this one but must be strong! Later and thanks!

This stuff new info you guys shared has to sink in till actually make effort to do what read!

I am in serious debt

I am in serious debt and need help! Too many credit cards…I seem to be spending way too much money on food. I am trying to look for ways to reduce my grocery bill.. thank you

Do you use coupons? that helps me alot … i save about $20 in coupons on a normal shopping trip and we dont do double coupons here. I only use coupons on what i need…

I have become really organized with my coupons and that helps… there are certain coupons out there that you can get free items with… like the $1 off edge or skintimate shave gel- as long as it does not say not good on trial- you can use it on the travel size and free shave gel….stuff like that:)

Good Luck Michele! and send me an email if i can help you anymore..

Here’s a list from this site –

  1. Shop alone. If you bring your spouse or children, count on your bill being higher!
  2. Do not shop when you are hungry.
  3. Join a warehouse like Costco or Price Club. There can be significant discounts buying in bulk.
  4. Keep your eyes on the items on the bottom shelf where the prices are lower!
  5. If you are not good doing math in your head, bring a calculator so you can determine the better value of the same item in different sizes.
  6. Use coupons and send for rebates. Get organized. Keep those coupons where you can easily find them, and keep all the parts of a product you think you might need for the rebate. Don’t create a fire hazard, but organize!
  7. Buy only items you know you will eat. Don’t buy things because you know you should eat them. If you don’t like broccoli, don’t buy it hoping you’ll eat better this week. Be realistic. It’s kind of like a person who is dieting buying a dress too small for them, hoping that it will motivate them to lose the weight to wear it. It doesn’t usually work! Buy the foods you will eat!
  8. Buy store brands when the quality is the same.
  9. Eat less!

The best way is to inventory what foods you have on hand. Peruse the meats on sale and then make a menu and then a shopping list. Send the one family member with a full tummy that is least likely to deviate from the list to do the shopping (no kids). Don’t walk into the store for any reason without doing the first two things. Plan and stick to your plan. Save your menus and shopping list. Once you have done this for a couple of month it is a 20 minute task and you can stretch it to twice a month. Cook twice as much as you need for a meal and freeze half for a meal the second week.

That way you only need to cook a few days a week. You can cut you food bill by 75% by just using a menu and a shopping list, cutting out all snack foods other then fresh fruit and veggies, cutting beverages to milk and water and making everything from scratch. Buy the store brand of your staples ignore sales items beyond meat unless it is a staple in your household. Buy no more then you need for that shopping period. The longer the period and the less you shop the less you will spend. Don’t buy anything but food.

Forget coupon they are usually for over priced not nutritious snack preprocess food like things. Take way more effort then you get out. Your menus and shopping list should be driven by you not the marketing people who put together the sales and coupons. Don’t let them control what you buy.