I am brand new to this forum, so this might be a bit lengthy. I'm pleading for anyone's help and advice: I owed GEMoneybank/Care Credit 2,500.00. Paid on it as agreed for a year. I was having surgery last January & called GE to see if I could 'defer' or do interest only, or something. They agreed to give me a six-month grace. I was to resume regular payments in June. Through my own stupidity, I didn't ask for this agreement in writing. I did however, write to them in December outlining the deal and jotted-down the name of the person I spoke with on the phone. June (of '07) rolls around, I get a call from Arrow Financial, GE had sold my account to them, and she said to look at my credit report & I would see that they (GE) had me as a charge-off. It took me over 5 months, closer to 6 months, to get Arrow to finally send me a letter proving that they did, indeed, purchase the account, and to agree on a settlement amount. I have since paid Arrow (they never made an entry on my credit). I called GE, and they refused to mark the account as paid. What can I do?????????? How do I get GE off of my credit report????? Thanks! Irish19
This may be a case of "the devil is in the details"... First, to sort some of this out, did you resume timely payments after the six month grace period? It sounds like they sent it to Arrow for collections when you were to start payments again, is this correct? And of course, the big question, did you include "no negative reporting" in your agreement with GE? You may have a case here, but you need to go through the steps: 1) Dispute this tradeline/entry on your credit reports with all the agencies reporting it. 2) Send a dispute to GE, including a copy of the letter you scribed outlining the agreement. Be as specific as you can as to details. 3) Be prepared to receive a "no" letter from GE, or no response at all. Then you will have to start moving up the ladder, taking your case to higher level personnel. 4) Review the GE entry on your credit reports, look for any details which may make this a HIPPA violation (disclosing medical information). There may be further steps you need to take, but start with these.
Dear Bizwiz41, Thanks so much for the input. Here are some answers to the ?'s you asked. Yes, I did send a payment (the first in the installment, in June 07)....the check was never cashed. I was, literally, ready to call GE the next morning, and I got the phonecall from Arrow. Secondly, I never sent the 'letter' (that I mailed to GE in Dec.06) via certified mail...just normal mail. (As I said, I was absolutely stupid for not sending it RRR) Technically, as GE told me, there is no proof of an agreement between us.... I have paid Arrow in full. I 'settled' on nothing. They were supposed to send me a letter over two months ago, and have not. GE hasn't violated any Hippa rights, but thanks for mentioning that. My query is that I need to find a way to have GE remove this from my credit report. In your opinion, what do you think my rights are here? Are they obligated to mark it as 'paid'...even tho' I paid Arrow, and not GE???? GE needs to go, like yesterday. My credit has been spotless until this...it's killing me. In your opinion, how do I get GE to remove it, or can I? Do I approach GE first...or go to the CRA's first???? What's your thought? Thanks in advance....irish19
They are likely reporting the account transferred/sold with a zero balance. Same implication as paid and probably as good as it's going to get absent twisting their arm a little.
That's interesting. Ask them if they have any proof of ANY agreement between you and them. And if they don't have any such proof, why they are marking up your credit reports claiming otherwise. I wonder what sort of reputation the above company has with its consumers. I think you'll live. Can they verify it if you dispute it with the CRA?
That's what I'm trying to understand as to whether it is marked with a -0- balance. She seems to be unable to get GEMB to mark it as paid.
Irish, Do you have a copy of the letter you sent GEMB re: outline of "agreement"? I think you first should dispute this w/all the credit reporting agencies. Await results, then you may start working up the ladder at GEMB.
answers to your questions: yes, i have a copy of the letter I sent to GEMB outlining our ''agreement". But as i said, i didn't certify it, just a regular old copy. jlynn: That's exactly the problem...GEMB won't mark the account zero! I was told that they sold it to Arrow Financial (Arrow was the Co. i paid). The GEMB rep told me that it was within their 'legal rights' as a company to leave the account the way it is, because their final 'dealing' with the account showed a balance. Arrow never even made an entry on my CR ~ thank goodness. But you guessed it right jlynn, GEMB is THE issue...and i'm seeking some help/and or a strategy on how to approach this to clear it up. I mentioned earlier that this was 'killing me'...pardon for being so dramatic, but it's knocked my fico down almost 125 pts. ....!!!! My goal is for complete deletion on the CR from GEMB...any suggestions anyone? Thank you all, again.
Oh, no, GE Money Bank cannot report a balance. Have you disputed this with the credit reporting agencies? If so, and they verified it you may as well sue them. You would have a cause of action under 1681s-2b providing you have some damages.
You mentioned that you sent the first installment check, but it was never cashed. Did you ever get the check back from GEMB? If they did not return the check, you may have a basis for an implication of their acceptance of the agreement.
