I have two collections for the same Citibank account appearing on my EX credit report from January which are listed as follows: GULF STATE Original creditor: CITICORP Date opened: 3-1998 Original amount: $9,316 Recent balance: 0 Status: Discharged in BK 10-1998 SHERMAN ACQUISITION Original creditor: OSI/GULF STATE/CITICORP - Purchased from OSI Date opened: 11-2002 Original amount: $9316 Recent balance: $12,265 Status: Collection account, $12,265 past due as of 11-2002 I sent validation letters to both CAs and disputed with EX. Neither one responded to my validation letter. GULF STATE deleted, but SHERMAN verified and remains. 1. If SHERMAN purchased this from OSI, is it legal for both to appear on my credit report simultaneously? 2. Did SHERMAN re-age the account? 3. Aren't these also violations: a. Failed to validate but verified with CRA anyway b. Failed to mark account as being in dispute c. Verified inaccurate information with CRA d. Attempt by SHERMAN to collect on a debt discharged in BK e. GULF STATE selling a discharged debt is regarded as continued collection activity What should I do now? The SHERMAN listing has a very negative FICO impact because it incorrectly shows a recent collection (11-2002) with $12,265 still owed, when in fact this account was discharged in BK in 10-1998. Should I get some actual damages connected with this and then sue them?
You might be interested in this, then. I have the same situation and am already in cmmunication with top executives at Sherman's parent company and am threatening suit. Here's a copy of my letter to Kevin Branigan (COO): "This is to notify you that my offer of February 19, 2003 to consolidate the two violations of FDCPA that Sherman Acquisitions has committed against me is herewith withdrawn and I shall be commencing a lawsuit against Sherman Acquisitions and its parent company on Wednesday, March 5, 2003. I take this action because I have been notified today by Experian that Sherman Acquisitions has TWICE verified its erroneous and false posting in my credit file that I at any time owed it money. This was verified last month and again today. I will be disputing, for the third time in as many months, Sherman's trade line in my credit report and will immediately and without further notice to you commence another suit under FDCPA every time Sherman confirms its erroenous trade line. I take the position that every time Sherman either posts its trade line in my file in any of the 3 Credit Bureaus or confirms it as accurate is a separate actionable violation of FDCPA. At present you can expect four (4) separate lawsuits, each claiming $1,000 statutory damages, from me. You have 24 hours to avoid this expense by contacting me so that you may have the $4000.00 stautory damages delivered to me by courier. " I will be filing the suits on line in Pima County (AZ) small claims court. I have already spoken to Sherman's Attorney, Scott Silver, and he knows it's coming. FAX your NOTICE OF INTENT TO SUE to Scott Silver at 212-661-1316. E-mail it to Kevin Branigan at Kbranigan@shermfin.com You can find Sherman Financial group's Statutory Agent for service of process on line at the New York Secretary of State, Corporation Division-look for Sherman Financial LLP. It's a Delaware LLP but is headquartered in New York City. Maybe if they started getting bombarded with FDCPA suits they might figure it out.
I threatened to sue (verbally) for many of your reasons above for an acct from 1996 that was discharged in my '96 BK. Sherman reaged the acct to 2001 and purchased it after the discharge. I told them they would burn in hell for the multiple violations of FDCPA and BK laws, but that I would first sue them. They immediately ordered deletion from all bureaus and sent UDF the next day. They WILL cave.
Just because they promised to do something doesn't mean they actually did it. Read the following e-mail I sent to Mr. Branigan at Sherman today: Dear Mr. Branigan: Today I faxed to Mr. Scott Silver proof that Sherman Acquisitions verified, either yesterday or today, their trade line in my credit file with Experian. I also have confirmation that Sherman has verified it with Trans Union and Equifax in the past 2 weeks, despite your and Mr. Silver's protestations to me that you have ordered my trade line removed. This constitutes four (4) separate violations of the Fair Debt Collection Practices Act in that by deliberately and repeatedly confirming a derogatory trade line that it knows to be false, Sherman Acquisitions is defaming me, causing financial harm by deliberately trashing my credit, increasing my costs of borrowing and causing me mental anguish. The fact that I have provided information to Mr. Silver does not affect the status of my previous e-mail to you - the deadline for Sherman Financial to settle with me out of court is 4PM Mountain Standard Time tomorrow, March 5, 2003. After that time I will feel free to file four separate lawsuits against Sherman Financial and its parent company for its repeated and deliberate violation of my rights under FDCPA. Mr. Sherman indicated to me that Sherman has an attorney in Arizona. That's good, because I intend to keep him busy representing you full time. Sincerely,
Right...but in addition to their promise I insisted they send me a copy of the UDF which ordered deletion and once I sent this in to the bureaus it was deleted immediately.
Re: Re: Sherman Acquisition is BAD,BAD,BAD Then they are yanking my crank, they told me they sent it to an address I haven't been living at in more than 6 years. I gave them my new(?) address and so far I haven't seen it. Screw 'em, if they want to play hard ball I can play also. My position is they are all a bunch of liars until I get their butts into Court and under oath. I used to be a bill collector, so I just can't WAIT to get a judgement. Then I'll be able to wreak such havoc with them - like tying up their bank accounts with a Subpoena Duces Tecum served on their bank at 8AM on a payday.
Flyingifr, Thanks for the great information and good luck with your lawsuits! I don't see how this company can stay in business with all the flagrant violations it commits and the legal settlements it has to eat. Just wondering, do you have actual damages to present in addition to the statutory damages? NiceGuy, Thanks also for the information. I would think that violating the Federal bankruptcy laws would be even more severe than violating FCRA. No more Mr. NiceGuy, right?
Exactly! If I hadn't received the UDF when I det and gotten the deletions and no re-reporting I was ready to sue their assses too!
Re: Re: Sherman Acquisition is BAD,BAD,BAD My FICO took a 40-point hit the day they appeared. I have rejection letters up the Yazoo - I have been totally cut off from credit, from being able to refinance my house at the lowest interest rates in 30 years. I'm sure I can find SOMETHING to hang that hat on. Worst comes to worst I haven't been able to get it up at night and my wife is doing without. I think that's called "Loss of Consortium".
Re: Re: Re: Sherman Acquisition is BAD,BAD,BAD Poor wife... I am in the same situation as you...at least in regards to the refinancing bit. Stuck with 8.75% mortgage rate when it could be around 6%. While Sherman was on your reports and trashing your FICO, did you actually apply for any refinances and get rejected specifically because of Sherman's incorrect tradeline? Maybe you still have time, and maybe it would help your case big time if you threw your house at them and caused some real damages!
Re: Re: Re: Re: Sherman Acquisition is BAD,BAD,BAD I only wish I had the high mortgage. mine is at 5% and if I refinance it I should be committed to the roizona Home for the Perpetually Bewildered. BUT, Sherman doesn't know that. And as far as my wife not getting any, that's because my Girlfriend is, and what she AND Sherman don't know won't hurt me. I'll figure out some damages. I'm imaginative.
