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I have an account at Target marked off and charged each month will be updated. Did they ever sell it to a collection agency? Although I have a better chance of removal with a collection agency. I offered a “if I pay you delete” letter to Target without success. They said it would change simply to advise a fee paid from Anybody have any? I have already connected all 3 bureaus with disputes. Everyone said “validated” by anyone / advice?
Thanks in advance
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Reply: with an OC.. the paid charge off might actually help you more than hurt you.. it will lower your utilization and many times they will stop updating it monthly… but YMMV on that one
PAID CHARGE OFF hurts (score wise) just as much as an UN-PAID one (so many here have said)
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Reply: People like to say how bad "Crap 1" is….I believe Target is way worse. They have the "freshest" default dates out of all the summons I serve. Default 12/08…filed and served 4/09. And, the balances are generally HUGE…like 19k to 28k. How do you spend that much at Target?
They're Target VISA charge-offs. Maybe a few thousand of the CO is TGT, the rest is everywhere else.
Thanks for the info. Having never had a Target card; I never knew they were VISA's as well. That would explain the huge balances. Also, I've read that Crap 1 summons are issued with Crap 1 vs YOU but are actually JDB attorneys. I would say this is accurate, because all the Target summons that I serve are issued are by the same JDB attorney firm that handles Crap 1 and alot of NCO financial and LVN summons.
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Reply:I had the Target red card and it charged off when DH was in the hospital and I was out of work…I called them after we got back on our feet and asked "What would it take to satisfy this debt?" and they gave me the total needed to pay the card. I didn't ask to settle. I just asked what they needed from me to pay it.
This was pre-CB, obviously.
Now I have TWO charged-off entries on my report. They screwed up the account number somewhere and transposed the numbers. Now it appears as a paid "settled for less" charge off TWICE.
I've been disputing the second one for years and can't get it to come off.
<sigh>
They are the devil.
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Reply:Before I knew anything about credit repair, I made a deal with the devil (aka Target). I had gotten behind on my store card due to dental expenses for my daughter and zero help from my lovely ex-husband. I talked to them on the phone (I know, I know) and they agreed to waive their ridiculous multiple late fees (I think $29 a pop). I didn't know it would turn the account into a charge-off. I even asked them if it would negatively affect my credit report. Oh no ma'am… she said. And this is why I don't talk to any OC or CA I am past due with over the phone. Burned once… shame on you… if I were burned twice, it would be shame on me.
I wish I could go pay the flippin' late fees and get the account changed. It is due to be on my CR until freaking 2013 as a paid charge off, settled for less than full amount.
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Reply:If you pay directwith the OC. They still will report every month.
Paid mine direct, they report it every month as a fresh paid charge off for the last five years.
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Reply:So just pay Target off and just know that I will probably be stuck with "paid charge off" I am okay with that if noone can think of any other option . I am at a lost.
Yes it is a current chargeoff. My hope is that they will not keep updating so in a few months from now I can dv the bureaus, cross my fingers, and it will fall off( deletion).
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Reply: People like to say how bad "Crap 1" is….I believe Target is way worse. They have the "freshest" default dates out of all the summons I serve. Default 12/08…filed and served 4/09. And, the balances are generally HUGE…like 19k to 28k. How do you spend that much at Target?
They're Target VISA charge-offs. Maybe a few thousand of the CO is TGT, the rest is everywhere else.
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Reply: PAY it?????? and reset the DOFD???? oh noes. wait it out, it's the last cc still on my EQ report. It will be gone in two years.
If it's a fresh charge off it will help you to pay it off quick just to get the util lowered. What's the difference between 6years 10mos and 7years 5months? Not a lot.
Otherwise you'll have to get CLI's in the amount of the CO to recover your Util %. And since this is 30% of FICO, this isn't an insignificant statistic. Target's the OC. Doubt they will delete anything other than lates or incorrect balances.
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Reply:People like to say how bad "Crap 1" is….I believe Target is way worse. They have the "freshest" default dates out of all the summons I serve. Default 12/08…filed and served 4/09. And, the balances are generally HUGE…like 19k to 28k. How do you spend that much at Target?
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Reply: PAY it?????? and reset the DOFD???? oh noes. wait it out, it's the last cc still on my EQ report. It will be gone in two years.
No it will NOT be gone in two years. Target usually sells debt to Asset Acceptance and I can guarantee you they will report for 7 years as a CO after that happens.
Reply:So they NEVER sell an account off to a collection agency? I had a feeling they would be a doozie!! Ugh
On the upside, I see it has not hurt your progress in getting credit. Great score!!
Reply:PAY it?????? and reset the DOFD???? oh noes. wait it out, it's the last cc still on my EQ report. It will be gone in two years.
Reply:So let me see if I have this correct—It may actually help me if I pay? Is this the case when dealing with OC's in general or this specific incident ?
Thanks
Reply:with an OC.. the paid charge off might actually help you more than hurt you.. it will lower your utilization and many times they will stop updating it monthly… but YMMV on that one
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Posted by admin on March 29th, 2011
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