Merrick Bank payoff

[The Grinder]

Thanks to all who replied, appreciate it, but I have ONE more small debt to clean up then other than my home mortgage I will be 100% free of any unsecured debt, but will post on a different thead real soon

 

[PayrollHRGuy]

Thanks to all who replied, appreciate it, but I have ONE more small debt to clean up then other than my home mortgage I will be 100% free of any unsecured debt, but will post on a different thead real soon

Oh please don't start a new thread. It will just require us to jump back and forth when trying to help you.

 

[Zigner]

Even if you call for a payoff amount, I would send a few dollars over that.

 

[adjusterjack]

Can't I call the issuing bank and ask them what the payoff balance is per the day I pay it? That way the card is PIF and wont get used again

Unless you allow a check by phone, there will still be a few days until it's posted to your account.

 

[The Grinder]

Oh please don't start a new thread. It will just require us to jump back and forth when trying to help you.

But its a different circumstances but involves CC debt but will keep it here if its handier

 

[PayrollHRGuy]

But its a different circumstances but involves CC debt but will keep it here if its handier

Doesn't matter. We will be able to answer all your debt questions and you won't have to re-explain yourself.

 

[The Grinder]

OK here goes....I was sued by a company who bought my CC debt from Citibank and they eventually either assigned it or employed Blitt & Gaines, a law firm who specializes in collecting debt. I owe approx $700 and via my agreement has me paying $70 a month until PIF so it will be until next spring when its totally gone.

Of course theres no accumulating interest, and I really want to have a favorable credit score by yrs end, so would I be better off to keep paying it off next 10 months or paying it off in one lump sum now? I also assume that Blitt and Gaines report to the credit bureau correct? When this debt is PIF, does it come off my credit record in a few months?

Thanks again!!

 

[quincy]

OK here goes....I was sued by a company who bought my CC debt from Citibank and they eventually either assigned it or employed Blitt & Gaines, a law firm who specializes in collecting debt. I owe approx $700 and via my agreement has me paying $70 a month until PIF so it will be until next spring when its totally gone.

Of course theres no accumulating interest, and I really want to have a favorable credit score by yrs end, so would I be better off to keep paying it off next 10 months or paying it off in one lump sum now? I also assume that Blitt and Gaines report to the credit bureau correct? When this debt is PIF, does it come off my credit record in a few months?

Thanks again!!

It is almost always better to pay debts off early. Once you pay, you should make sure a “satisfaction of judgment” is recorded with the court and that the creditor reports the satisfaction of judgment to the credit reporting agencies (TransUnion, Experian, Equifax).

 

[Zigner]

OK here goes....I was sued by a company who bought my CC debt from Citibank and they eventually either assigned it or employed Blitt & Gaines, a law firm who specializes in collecting debt. I owe approx $700 and via my agreement has me paying $70 a month until PIF so it will be until next spring when its totally gone.

Of course theres no accumulating interest, and I really want to have a favorable credit score by yrs end, so would I be better off to keep paying it off next 10 months or paying it off in one lump sum now? I also assume that Blitt and Gaines report to the credit bureau correct? When this debt is PIF, does it come off my credit record in a few months?

Thanks again!!

The debt will show as the late payments for many years (7 years from the original date of default, give or take). Personally, if able, I'd pay it.
EDIT: If it's a judgment, it will still show for the appropriate period of time, but it will be marked as paid.

 

[The Grinder]

The debt will show as the late payments for many years (7 years from the original date of default, give or take). Personally, if able, I'd pay it.
EDIT: If it's a judgment, it will still show for the appropriate period of time, but it will be marked as paid.

Is that 7 yrs from when I stopped paying the CC company or from when I started paying the law firm? Its been since 2013 when I stopped paying citigroup but only 2 yrs since I started paying Blitt & Gaines, which one applies??

 

[quincy]

Is that 7 yrs from when I stopped paying the CC company or from when I started paying the law firm? Its been since 2013 when I stopped paying citigroup but only 2 yrs since I started paying Blitt & Gaines, which one applies??

The three main credit bureaus stopped reporting civil judgments in 2017. The debts should show up as paid in full on your credit reports when the debt has been paid in full (when there is a satisfaction of judgment).

http://nationalconsumerassistanceplan.com

 

[Zigner]

The three main credit bureaus stopped reporting civil judgments in 2017. The debts should show up as paid in full on your credit reports when the debt has been paid in full (when there is a satisfaction of judgment).

http://nationalconsumerassistanceplan.com

Thanks for the clarification.

 

[The Grinder]

Is the "satisfaction of judgement" something I need to request from the law firm I'm paying? Or will they do it automatically? Or should I request they put it in writing they do when acct is PIF?

 

[Zigner]

Is the "satisfaction of judgement" something I need to request from the law firm I'm paying? Or will they do it automatically? Or should I request they put it in writing they do when acct is PIF?

They're supposed to do it automatically, but you should also request it after you've paid it in full.

 

[quincy]

Is the "satisfaction of judgement" something I need to request from the law firm I'm paying? Or will they do it automatically? Or should I request they put it in writing they do when acct is PIF?

The creditor should do it automatically. But you will want to make sure the creditor files both the satisfaction of judgment with the court and reports the satisfaction of the debt to the credit agencies.

Otherwise you can record the satisfaction of judgment yourself.

Your negative debt payments should be removed from your credit reports 7 years after the date of the original delinquencies that led to your default on the accounts. Positive debt histories can remain for 10 years.

It is important to note that, while judgments will not appear on your credit reports (and if they do, you should dispute their appearance on your reports), any judgments are public records. They can appear on background check reports.