What do you mean by reset the delinquency level by making payments to a collection account?

Sorry been gone a few days.

Well, as I understand it, when an account is charged off it is usually 5-6 months behind. So, if you make a partial payment to the account, you might be paying back that 5th or 6th month, and by doing that this can reset the level at which the account is delinquent and can reset the date (when the recent payment was made) that the account fell past due. Not all creditors do this of course and it really only hurts if you stop paying again.

So lets pretend that someone had a charged off account of $5,000. They start paying $250 a month. That $250 could bring the account to a level of say 4 months past due. that could ultimately go on the bureaus as a recent PD04 (past due 4 months) account in place of the charged off account as of lets say it charged off 1/2008. So a recent past due over a charge off in the past is not good.

I dont know if I am explaining that correctly and again it depends on the credit issuer. If this charge off is recent then it couldnt hurt to pay it back, but if it was even 2 years ago you might just let it go.

Kays is the best way to go. Try to go into the store and apply if you close enough to it. Here is a thread that Ash startgd in regards to CJ, I think you may wanna look into this, it is valuable. https://www.financeglobe.com/SocialNet/forum/showthread.php?t=494

No, it's not worth the hard hit on your reports especially since you have credit cards that are helping you build credit.

CJ has been having security problems and I personally wouldn't apply for their card considering the fact that they can't protect my personal information.

What is the deal with Crown Jewelers? Ive noticed that a lot of people here have an account with CJ,is this a store card?Is it a good card that is worth getting? Tell me the specifics on this card if you have it & what it took for you to get it....and if you recommend it.

TYVM
ohwoody

I have Capital One,Hooters,Tribute,1st Premier,Credit One,& Orchard now.I was juat wanting to get rid of a couple of vampire cards.GEMB wont give me the time of day.I havent tried with AMEX yet & see no need to now.Guess I need to let some grass grow around these cards that I have for a while & let them "mature".

TYVM
ohwoody

no I don't have bank of america..there isnt any where I live..thanks for the info...do you know if there is a certain amount that you can pay up to without holding it? I know last year I paid $300 as I was going on vacation and wanted to eliminate bringing cash and that set me back when the credit on the card wasn't available until I came back..but my limit was $500 then and it is $700 now and this month is my 1 year anniversary with them so wondering if these two things made a difference.

Yes, I'm talking about the bill pay service. Is this checking account through BoA? It requires 4 days for Hooters to receive the payment? If your checking account is through BoA, they're going to mail Hooters a check. If it was an electronic payment, it would be delivered within the next business day.

hmj
do you mean like the bill payer service my bank offers?
I know they take about 4 days to send it to the credit card company if that is what you are talking about so you have to even submit that early...
let me know
thanks!

kforbes86, I would arrange and a PFD with them if you're going to make a payment to them. What ColoNative is trying to say is that the CA can update date of the baddie on your reports and it will take longer to fall off your reports.

What do you mean by reset the delinquency level by making payments to a collection account?

No, the payments you make on their website are ACH payments. When you make a payment to them using the bill pay feature on your checking account, that's when they credit your account by the payment amount.

I have the same problem with hooters holding payment..I want to use the card for a car rental hold and some credit available for a weekend trip so I don't have to carry cash..how can I make an electronic payment?
I thought the payments we make on line are electronic? let me know guys!
thanks!

Okay, i have some questions for those around here that may know more than i do about these things. i have 3 collection accounts on my credit. they are all between2 years and a year old. would making payments on them bring them all back up again? how much would making payments on them, or paying them off benefit me? they would still be there, just be marked as paid?

If you can pay them off in full then I would. If you want to make payments just be careful because that can reset your delinquency level.

Is it possible to get an American Express anything,charge or credit card,with a bankruptcy thats almost 4 years old & credit scores in the mid to high 600s?

Thank You Velly Much,
ohwoody

Citi and AMEX are usually NOT BK friendly. You will be turned down big time.
BoA and Chase may reconsider, if you ask nicely.

I believe you can upgrade it, but GEMB is weird about "upgrades." What it will do on your bureau is show your store card as closed due to transfer and the Discover will be a brand new trade with the new opening date.

ColoNative: have you done it before? I asked them If I could upgrade to the Discover card after 6-9months of payment and they said yes I can reapply for it. Let me know your experience with them. Thanks