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Just received $51.06 collection bill from Convergent

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blackcats
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Just received $51.06 collection bill from Convergent  Reply with quote  

Hi thanks for reading this. On 1/19/2017 I received a letter from Convergent stating I owe them $51.06. I'm worried sick for a few reasons:

- I'm 30, bit of a loser, and my mom has taken steps to help me improve my credit score to the degree that I could get a small home loan some day.

-As I was just moving out of my apartment back into my parent's house, my mom said "MAKE SURE you pay the electric bill".

-So I called Ever-source, and the nice lady on the phone said "your final bill will be deducted 1/12/16, and then we'll shut your electricity."
Cool. Account closed.

-I saw Ever-source deducted 130 from my bank account. I assumed all went well, and that the final entire balance was paid.

-A few weeks ago I see I'm getting a bill from Eversource for 51 bucks. Being busy with school, being busy in my own depressed head, I just put it off like I do everything. I'm lost...deeply lost person.

-I had/have plenty of cash to pay this off. I just never did. Now I have this piece of mail from Eversource and I'm not sure how to process this. Being that this Convergent mail is dated 1/19/2017, is there a chance that it has not yet been reported to a credit bureau?

I understand that nuisance debt under 100 dollars doesn't affect my credit score per se, but it shows up and affects how mortgage lenders feel, which is quite frankly the only reason I care about my credit score. I have to finish out school, maintain my decent score and get a house. I can't live at home anymore, it's just pathetic.

And plus, my mom looks at my credit score, not me, so if she sees this after warning me, she will be utterly pissed, rightfully so. So I'm not sure what I'm supposed to do here. Am I supposed to employ the pay-for deletion tactic? Am I not at that point yet? Should I try to contact the original creditor, who in this case is Eversource? I'm very overwhelmed, and in over my head. Any tips or help will be greatly appreciated. Thanks so much.

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Last edited by blackcats on Fri Mar 03, 2017 3:37 pm; edited 2 times in total
Post Mon Feb 20, 2017 9:24 am
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yotux
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Collection  Reply with quote  

Sadly yes it can be on your credit report. I am a person that does not want a credit score, I want freedom. Freedom of having payments. Currently I am working to be debt free. There are two schools of thought, one is to have a super high credit score, this requires borrowing money that you don't have and giving allot of interest to the banks. The other school is to have zero credit score and use manual underwriting. Harder but it leads to a life of less stress and freedom!

The first step to freedom is make a budget, tell your money where to go, also list you debts smallest to largest. I saw that you in school that is great, how much student loan debt have you racked up?

I am not proud of it but my spouse had $90,000 in student loans prior to our marriage, now it time to attack the debt a live the life of freedom....

Feel free to PM me I would love to help you walk down the path of freedom.....
Post Sat Feb 25, 2017 7:18 pm
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oldguy
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 Reply with quote  

quote:
Currently I am working to be debt free. There are two schools of thought, one is to have a super high credit score, this requires borrowing money that you don't have and giving allot of interest to the banks. The other school is to have zero credit score and use manual underwriting. Harder but it leads to a life of less stress and freedom!


I've followed the "borrowing" school of thought. Over the past 40 years, I borrow as much as I can against real estate. I bought rental houses with very small down payments. As soon as one of the houses grew equity I refinanced it and used the equity for a down payment on another house.

Later I stopped adding more houses but I kept doing refi's - I invested those refi monies into an SP500 Index Fund. For example, $25k in an SP500 for 30 years grows to $550,000. When I retired I sold the houses - but those blocks of money that I put into the SP500 are still there, still growing.

IMO, the way to become a multimillionaire is to borrow capital at a low rate and invest it 11% or 12%. The Rule of 72 - your money doubles about every 6.5 years. Conversely, a wage earner CANNOT become a millionaire without using debt.
Eg, if you SAVE $10,000/year for 30 years, all you'll have is $300,000. But if you INVEST $10,000/year at 11%/yr for 30 years, you'll have $2,200,000. Same amount of money ($10,000/yr) but a vastly different outcome.

In fact, even tho I'm wealthy, I don't even pay cash for new cars, I borrow the entire amount and pay interest for the full 60 months. Meanwhile, my money staying in the SP500, nearly doubling in that 60 month period.
Post Sat Feb 25, 2017 10:12 pm
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