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Offlinech1ck3n.s0up
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Gonzo's Old Apartment Situation
    #19231180 - 12/05/13 01:09 PM (10 years, 1 month ago)

The lease on Gonzo's apartment expired a few months back. He dragged his feet on signing a new lease, and so was on a month-to-month.

Gonzo ran into some financial difficulty, and split, leaving his security deposit of 1.5x rent: 1.0 payment for the last month of rent, and an extra 0.5 months to make them happy.

Buried in the lease was a clause saying, "If tenant does not give 30 days notice, tenant will be responsible for three months rent."

The Complex filed an eviction notice, and sent it to collections for an amount of over $2000. No lawsuit; just a collection agency.

On Gonzo's credit report is a nasty black mark for this amount.

Collection agency has offered the following two options:
1. Settle for 85%, but black mark will remain on credit report with the tag "Settled."
2. Pay in full, and the item will be completely deleted from credit report.
3. (Not quite offered, but there) Gonzo ignores this claim, lets it expire.

Gonzo thinks it's pure, unadulterated bullshit that they want this much, given that they had an extra $500 or so from the security deposit; however, Complex seems to have a legal claim, since it's in the lease, and are not willing to let it go.

Any advice?
How many credit score points will Gonzo gain if he pays this?

Thx.
:heart: :chicken:


--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.


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Offlineblckmynnse8
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Re: Gonzo's Old Apartment Situation [Re: ch1ck3n.s0up]
    #19232062 - 12/05/13 04:33 PM (10 years, 1 month ago)

Well, since it went to collections that means the apt. complex sold the debt to the agency. So your money would be going to the collection agency.

It depends on how good your credit standing was before this was reported, and how important your credit rating is to you right now. Usually when something goes to a collection agency my advice is to say "fuck it". Because that collection agency bought that account for pennies to the dollar, they maybe paid $100.00-$250.00 to your apartment complex for your $2000.00 bill.

I got totally fucked by an apartment complex 3 years ago by being sent a completely false damage bill. But since my lease said that any legal matters would be settled through THEIR arbitrator I was up shit creek so I just paid the bill.


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InvisibleEnlilMDiscord
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Re: Gonzo's Old Apartment Situation [Re: ch1ck3n.s0up]
    #19232981 - 12/05/13 05:39 PM (10 years, 1 month ago)

First, the poster above may be dead wrong.  There is no way for you to know whether the collection agency purchased the debt or whether the landlord still owns the debt.

It is, of course, your choice what to do...but paying 85% is the worst possible choice.  A paid collection account on your credit report isn't any better than an unpaid one.  I'd pay the extra 15% and get the deletion.

The second best choice is to ignore it and let it stay on your credit report for 7 years.  It will do the most damage for the first 3-4, but after that it will be less important.


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Offlinech1ck3n.s0up
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Re: Gonzo's Old Apartment Situation [Re: Enlil]
    #19233459 - 12/05/13 07:26 PM (10 years, 1 month ago)

Thanks all for your responses.

Quote:

Enlil said:
First, the poster above may be dead wrong.  There is no way for you to know whether the collection agency purchased the debt or whether the landlord still owns the debt.

It is, of course, your choice what to do...but paying 85% is the worst possible choice.  A paid collection account on your credit report isn't any better than an unpaid one.  I'd pay the extra 15% and get the deletion.

The second best choice is to ignore it and let it stay on your credit report for 7 years.  It will do the most damage for the first 3-4, but after that it will be less important.



The debt is already 4.5 years old.

Would it be worth it to contact the original creditor and offer a pay for delete through them?


--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.


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InvisibleEnlilMDiscord
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Re: Gonzo's Old Apartment Situation [Re: ch1ck3n.s0up]
    #19233583 - 12/05/13 07:59 PM (10 years, 1 month ago)

Fuck that..  it'll be off the credit report in 2 years anyway.


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Offlineblckmynnse8
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Re: Gonzo's Old Apartment Situation [Re: Enlil]
    #19234994 - 12/06/13 02:46 AM (10 years, 1 month ago)

Nice, you're on the home stretch!


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OfflineAlan RockefellerM
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Re: Gonzo's Old Apartment Situation [Re: Enlil]
    #19234998 - 12/06/13 02:48 AM (10 years, 1 month ago)

Yea the black mark probably won‘t affect your life at all.    And certainly not $2000 worth of damage or even close to that unless you plan to buy a house in the next 2 years.


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OfflineNabuca
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Re: Gonzo's Old Apartment Situation [Re: ch1ck3n.s0up]
    #19235350 - 12/06/13 06:55 AM (10 years, 1 month ago)

Quote:

ch1ck3n.s0up said:


Would it be worth it to contact the original creditor and offer a pay for delete through them?






Also very important to remember that any action taken by you on an aged debt can technically reset the timer on reporting. If you call and bargain, the agency may very well take that as an admission of debt and reset your time of reporting. You could potentially contest that, but why risk it? Each state has a statute of limitations on being sued for various types of debts. If you're outside that timeframe, and don't need it off your record for important reasons(Like you need a mortgage), always deny any knowledge of the debt.

If the collector hassles you, send them written notice to cease and desist contact, denying the validity of the debt. Again, before doing this make damned sure you're beyond the statue of limitations for a lawsuit in your state, as with many collectors if you shut down their ability to hassle you, they will immediately go to court if they think they can profit by doing so.


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InvisibleEnlilMDiscord
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Re: Gonzo's Old Apartment Situation [Re: Nabuca]
    #19235363 - 12/06/13 07:02 AM (10 years, 1 month ago)

Quote:

Nabuca said:
If you call and bargain, the agency may very well take that as an admission of debt and reset your time of reporting.



This is false.  The 7 years starts at the date of FIRST delinquency...It doesn't matter what he does, they can't extend the date on this account.


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OfflineNabuca
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Re: Gonzo's Old Apartment Situation [Re: Enlil]
    #19235402 - 12/06/13 07:25 AM (10 years, 1 month ago)

Quote:

Enlil said:

This is false.  The 7 years starts at the date of FIRST delinquency...It doesn't matter what he does, they can't extend the date on this account.




They can't but it doesn't mean fraudulent agencies don't try. Last year I spent 4 months trying to have such a reporting removed from my files. The agency listed the date they paid for the account as the date of first delinquency. Experian rejected my disputes 3 times because the agency "Verified" the debt, which essentially meant the agency faxed them fresh copies of fraudulent documents. The credit reporting bureaus push burden of proof on the consumer, and government oversight is minimal. 

In the end I had to hire a civil attorney familiar with the Fair Credit Reporting Act to get it fixed. If you check out Justia or similar sites, there are literally dozens of lawsuits against them(Redline Recovery). Not saying it's terribly common, but there are fraudulent agencies out there that do this, and don't seem to care if they get sued as long as they still profit.


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InvisibleEnlilMDiscord
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Re: Gonzo's Old Apartment Situation [Re: Nabuca]
    #19235424 - 12/06/13 07:37 AM (10 years, 1 month ago)

FCRA suits are nice...You get $1000 bucks, and the lawyer gets paid, too...Sounds like you scored.


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Offlinech1ck3n.s0up
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Re: Gonzo's Old Apartment Situation [Re: blckmynnse8]
    #19236110 - 12/06/13 11:34 AM (10 years, 1 month ago)

Quote:

blckmynnse8 said:
Nice, you're on the home stretch!



What would I do without you guys? :heart: :heart: :heart:

Going on six years with you peeps now... I really need to become a subscriber, but I'm so afraid that the Feds will come knocking :paranoid:


--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.


Edited by ch1ck3n.s0up (12/06/13 11:35 AM)


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