Re-aging is basically an instrument by which you can clean up your bad credit history of the past if any. Whenever an account is re-aged, it is no longer considered as due and you are no longer considered as delinquent, as if you have no missed payments.
I agree with Anthony. Actually what happens is that in re-aging you need not pay your late fees and you are no longer considered delinquent and your account is considered current. Thus it is good for your credit score. But the fact is that it is very difficult to convince your creditor to agree to re-aging.
Another reason getting a copy of your credit report is important. I had a creitor try this with me and thank goodness a few months before I had got a report (my first ever). I told them that it was not a new account but actually an old one that was past SOL and charged off. Told them I had the report and could prove they purchased an old debt and was trying to renew it. They haven't put anything else on my report. Glad I seen the warning signs. The new amount they sais I owed was an exact amount I owed on another old debt. They listed it as a debt purchased from anothner company but made the date 2008. They never mentioned the debt was charged off in early 2001.
I am slowly figuring this out. I have enough on my plate with m y job and this accident. Plus my emorional crap over my arm and fingers. I do not need anymore.I swear I am about ready to give up and join all the social security people.
You should be able to get some type of retraining, maybe you need to bring this up to your attorney, if you can not do what you were doing, tell them you want the cost of tuition to be retrained into an occupation that you can do with your injury. They may be able to get that out of the other persons insurance company.
I thought of that but according to my atty if they out in for that and She carried a low policy amount it would come off my pain and suffering amount. Example ; $15,000 policy - atty $5,000, $2,000 med payback- $3,000 retraining that would leave open to me cash wise $5,000. the only way I could access the $3,000 is if I decided to retrain. So why not take it in cash instead of it being tied up? I can then decide when and how much I want to spend on retraining.
Hi guest
Re-aging is basically an instrument by which you can clean up your bad credit history of the past if any. Whenever an account is re-aged, it is no longer considered as due and you are no longer considered as delinquent, as if you have no missed payments.
I agree with Anthony. Actually what happens is that in re-aging you need not pay your late fees and you are no longer considered delinquent and your account is considered current. Thus it is good for your credit score. But the fact is that it is very difficult to convince your creditor to agree to re-aging.
some CA also may try to illegally reage your account. They do this in order to try and change the SOL date
You can always dispute the age of the debt with the collection agency and the credit reporting agency if they attempt re-aging the debt.
Another reason getting a copy of your credit report is important. I had a creitor try this with me and thank goodness a few months before I had got a report (my first ever). I told them that it was not a new account but actually an old one that was past SOL and charged off. Told them I had the report and could prove they purchased an old debt and was trying to renew it. They haven't put anything else on my report. Glad I seen the warning signs. The new amount they sais I owed was an exact amount I owed on another old debt. They listed it as a debt purchased from anothner company but made the date 2008. They never mentioned the debt was charged off in early 2001.
great, fireyone, it pays to keep up on your credit report and activity, these collection agencies will pull all kinds of crap to screw with you.
I am slowly figuring this out. I have enough on my plate with m y job and this accident. Plus my emorional crap over my arm and fingers. I do not need anymore.I swear I am about ready to give up and join all the social security people.
If your injury is bad enough that you will not be able to work and make a descent living then that may be an option for you.
Its a very hard option to consider. I am not sure if I am willing to admit defeat at this point.
You should be able to get some type of retraining, maybe you need to bring this up to your attorney, if you can not do what you were doing, tell them you want the cost of tuition to be retrained into an occupation that you can do with your injury. They may be able to get that out of the other persons insurance company.
I thought of that but according to my atty if they out in for that and She carried a low policy amount it would come off my pain and suffering amount. Example ; $15,000 policy - atty $5,000, $2,000 med payback- $3,000 retraining that would leave open to me cash wise $5,000. the only way I could access the $3,000 is if I decided to retrain. So why not take it in cash instead of it being tied up? I can then decide when and how much I want to spend on retraining.
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GfStz4 A big thank you for your blog post. Awesome.