I have an old charge off from over 6 years ago. It belonged to my ex-wife who was awarded the car in the divorce as her sole and separate property. Less than a year later she let the car get repossesed and it showed on my credit since it was still in my name. I have dealt with it for this long and have hated it but didn't think i could do anything about it. I have not missed a payment or been late in the last 7 years. I went to buy a car yesterday and the dealer ran my credit and told me that I have a new charge off as of February this year. I think she made the last payment on the car back in Nov 2001. What happened, and can they do this after so long? If not, what do I need to do to correct this. I don't think it is fair that I am going to pay another 7 years because of something my ex did. I have court papers showing it was her responsibility. Please help! My credit took a majpor dive because of this. Also, about 5 months ago my ex let some medical bills go to collections and since I hold the insurance on my kids and my name was listed as the insurer, they slammed it on my credit without even so much as a letter. They had been sending her notices but she never told me about it. I found out beacuse I checked my credit report. I explained to the collection agency that I had not been told about it and they said since it was my first notice and if I paid the balance in full they would delete it from my credit. I did this and recieved a letter and reciept for my payment saying it was deleted. To this day it still shows as a COLLECTION on my credit report but it shows as being paid. She told me it would be deleted from his report. That was the only reason I cleaned up my ex's mess. What do I do? Thanks, Larry
First, get copies of your reports from each CRA. You can get it free, since you've been denied credit. You need to know exactly what is there and how it's reporting to know how to handle it. Second, even though the responsibility for a debt may be assigned to one party in the divorce, the creditor is not bound by the divorce documents. If your name is on the loan, you are legally responsible. The divorce settlement gives you a cause of action to recover any amounts you paid from your ex spouse, which you will do by suing her. This is a hard lesson for many people. One big problem is mortgages. The only way your name will be removed from a mortgage is by refinancing. So you could file a quit claim deed, have no right to the property, and still be responsible for the mortgage. That's why it's a good idea to try to force a refi into the ex's name only. The same is true for the car. Even though she had the car and the responsibility for it, if your name was on the loan you were still liable.
You need to pull your reports and see exactly who is reporting and how they are reporting. If it was actually 7 years old in Feb, it should be gone. A "new collection" to someone may be that it was posted for the first time, but still has an accurate fall off date. Get your reports directly from the CRA's. Have you tried to dispute these directly with the CRA's?
Bayview says the last date of activity is Nov 2001, so 7 years won't be until Nov 08. It now shows another bad debt/charge off from Americredit saying the account was opened in March 2002, last activity was March 2002 and status as of Feb 2008. Account is still open. As for the medical bills. I haven't disputed them with the CRA as I wanted to find out online what i need to do.
This sounds backwards. Americredit should be the OC, and Bayview the CA? If its backwards, and it sounds like it is on Experian, then you should dispute the Date of Status has reaging the debt. The date opened (if this is the CA) is likely legit, as they can report the date it was opened with their company, but it still should be scheduled to fall off in Nov 08. It was like I assumed, the car dealer sees the new posting and assumes it is a new charge off, yet the date opened clearly indicates it occurred over 6 years ago. IMHO, the first, easiest step is to dispute with the CRAs to see if they simply fall off without you ripping your hair out.
It isn't backwards. Bayview is the original holder of the account and the only one as far as we ever knew. this is how it looks Ameri Credit Status as of [?] Feb, 2008 Date opened [?] Mar, 2002 Date of last activity [?] Mar, 2002 Date closed [?] Not Reported Account number [?] XXXXX6146 Loan type [?] Not Reported Largest past balance [?] Not Reported Terms [?] (12 Months) Account Type [?] Installment Account holder [?] Joint Scheduled payment amount [?] Not Reported Account status [?] Account is Open Descriptions [?] Charged off account Auto Bayview Status as of [?] Mar, 2002 Date opened [?] Feb, 1998 Date of last activity [?] Nov, 2001 Date closed [?] Not Reported Account number [?] XXXXXXXXXXXX3735 Loan type [?] Not Reported Largest past balance [?] $3,804 Terms [?] Not Reported Account Type [?] Installment Account holder [?] Shared Scheduled payment amount [?] $224 Account status [?] Account is Inactive Descriptions [?] Charged off account Account closed by credit grantor Thanks for your help on the medical bills.
IMHO, no. Even FICO.com reports have weird reporting anamolies that aren't the same as the reports from the CRAs - ex are all those "not reported" lines.
I just purchased my report directly from Equifax and this is the info for americredit AMERICREDIT200 Bailey Ave Fort Worth, TX-761071210 Account Number: 43085XXXX Current Status: CHARGE-OFF Account Owner: Joint Account High Credit: $0 Type of Account : Installment Credit Limit: $0 Term Duration: 12 Months Terms Frequency: Monthly (due every month) Date Opened: 2002/03 Balance: $3,803 Date Reported: 03/2008 Amount Past Due: $0 Date of Last Payment: Actual Payment Amount: $0 Scheduled Payment Amount: $0 Date of Last Activity: N/A Date Major Delinquency First Reported: 08/2006 Months Reviewed: 19 Creditor Classification: Activity Description: N/A Charge Off Amount: $0 Deferred Payment Start Date: Balloon Payment Amount: $0 Balloon Payment Date: Date Closed: Type of Loan: Auto Date of First Delinquency: 03/2002 Comments: Charged off account It shows that we paided on the account until July 2006 and then the boxes are gray and it says charge off after that date. How can they do this when the last payment was made back in Nov 2001. I am 100% positive of that. it says first major delinquency was August 2006. Thanks, Larry
here is the info for the original loan holder. BAY VIEW CREDITPO Box 4579 Covina, CA-917234579 (800) 524-9292 Account Number: 262406006158XXXX Current Status: CHARGE-OFF Account Owner: Shared, but otherwise undesignated High Credit: $3,804 Type of Account : Installment Credit Limit: $0 Term Duration: Terms Frequency: Date Opened: 1998/02 Balance: $0 Date Reported: 03/2002 Amount Past Due: $0 Date of Last Payment: Actual Payment Amount: $0 Scheduled Payment Amount: $224 Date of Last Activity: N/A Date Major Delinquency First Reported: Months Reviewed: N/A Creditor Classification: Activity Description: N/A Charge Off Amount: $0 Deferred Payment Start Date: Balloon Payment Amount: $0 Balloon Payment Date: Date Closed: Type of Loan: Date of First Delinquency: 11/2001 Comments: Charged off account, Account closed by credit grantor
Remember when I said it looked backwards? Americredit is not a collection agency, and you got my curiosity up, So, I googled using both company's names. Americredit acquired Bayview. http://www.americredit.com/journalists/docs/AssetSecurReport1205.pdf I don't usually take much stock in Rip Off Report - but this will give you an idea of what you are up against. http://www.ripoffreport.com/reports/0/220/RipOff0220531.htm You my friend have a major problem with a major reaging, and while under the definitions of a debt collector in the FDCPA, Americredit in your instance might meet that definition, you likely have an uphill battle. Looks like Bayview is reporting the DOFD accurately, (although IMHO it should be reporting as sold/transferred, not a charge off) as per your own information, but I bet with a simple dispute it will disappear. However, you may want to leave the $%%@# thing there while you fight it out with Americredit. So you have some semblance of proof as to what you are saying. What state are you in?
I don't think i even know where to begin fighting americredit. just when we think we're almost through all this mess, things like this happen and we're back to square one. It sucks!
Here's another thought - has Americredit ever communicated with you? If it were me, I would probablyt start with a CRA and FACTA dispute (that would go directly to Americredit) saying I have never had an Installment Loan with you. I didn't initiate any loans in 3/2002. In 3/2002 I was spouseless it would have been impossible for me to be a joint account holder. What the hell is this for????? Demand to Americredit that they get this tradeline off your report. Two other things - you should pull your EX and TU report as well, you need to tackle all three CRAs at the same time on this. You mentioned earlier that they have you going delinquent in Aug 06. That's incorrect. They FIRST REPORTED your delinquency in Aug 06. They are reporting the DOFD as Mar 02. The Aug 06 date is a do nothing meaningless date, and the Mar 02 date has reaged the account by 4 months.
No, not even a phone call or letter. I will take you advise and give it a shot. Worst case it's on their until march next year. It's already messed me up thing long, I guess I can live with another 6 months if have to.
You shouldn't have to! Were you trying to get a car loan? Were you denied? Were you charged a higher interest rate? Point this out in your FACTA dispute if that's the case. You have already cost me xxx dollars blah blah.
