A friend of mine showed me all three of her credit reports. She has about 250,000 in charge offs on her report from credit cards to repo cars, collections etc. She is a X-collector. She knows how to disappear. She has about 3 more years until the last negitive falls off. She also has a bunch of good credit from secured cards, au accounts, and joint holder accounts. She owes Amex about 90k on a gold card. Here is the kicker she currently is a AU on her mothers Amex Account. She only has her first intial and last name placed on the card and did not give out her social security # when she was placed on the account. It reports on her Credit Bureau's along with a 90k charge off. Amex never even came after her!! Here is a question: Should she dispute all the negitives on each report at once or a few at a time????
Well I walked away from my debt as well, however it was just over $1k total, so perhaps I shouldn't be casting any stones...but it sounds like she walked away with a small fortune and is on track to repeat. Brian
I asked her about the Amex 90k. This is what she did. She used to charge about 10k a month on her card. So she had a good established payment history. She opened a sign and travel account. Went to Hawai for 3 weeks. Also went to Europe for one month. She made big purchases at Niemans Marcus and returned the merchandise for cash. Saying she received as a gift. They send her a check in the mail. She then put the big purchases in disput with Amex, so they temp. removed from her account. She then did it again. It took her about 3 months. Finally Amex turned her off. The total was at 90k. She is a real pro. Being a X-Collector she knows all the tricks. We just went to lunch today and she charged it on her Amex platium card. The card with only her first intial and last name on it. P.S. She also has 2 cars in a business name. She listed a business with D&B and went out the next day and bought the cars. BUt she does pay on them. She said she has to till the 3 years is over !!!!!
She was a part of the XBA Collection Agency. Really big outfit in my city. They called their Debt Collectors X Collectors. She made over 200k a year. 33% everthing she collected. FTC closed them down about 2 years ago.
She did the following: Charged up all her cards to the max. Paid them off over the phone with check by phone. Checks all bounced. She gave them correct aba #'s but bogus account numbers. Then she maxed her cards out over again , before the checks came back invalid account number. She doubled her credit just like that. To hide she did this: Opened a Mail Boxes Etc. Box Changed her phone to private no. Collection letters all sent back with "Moved to Bulgaria" Will not Forward... She knows banks, collectors, etc will not spend time tracking down someone that has moved to a 3rd world country. She laughs about the whole thing. She has tons of credit AU cards, Joint accounts, etc. She just has three more years to go. This time she says she's going for a cool 500k. It should take her about a year to do that.!!!!!!
Boy, I don't know what to say about this one. I'm far from the moral police, but who ends up paying for this? One way or another it's the rest of us who do. Not to mention intentionally defrauding the CC companies with debts that high, sounds to me like criminal charges could be filed. I know you said she is good at hiding, but unless she does move to Bulgaria, I'm sure she could be found. Sounds pretty scary to me! I think I'll stick with fixing my credit, and not screwing it up again
My brother-in-law served time in jail for writing bad checks, I don't know for how much, but I'm sure it wasn't over 250K
"Uttering a bad check" is illegal in most states. She had intent and she knowingly and willfully did what she did. But the universe ALWAYS evens things out. We won't have to pay for it--she definitely will. cariba
I am NOT shocked anymore, disgusted would be a better word. I thought $3K in charged off debt was bad. But, this was not intentional and I did not have a major cc for years. There definately is intent. She is the reason why ca go after people who have made mistakes like us. I'm focused on getting out of credit hell. NOT living like a fugative. I'd be concerned if she was AU or had a joint account with me. Question: does she actually pay any of her bills now or is she still committing fraud?
Not sure I believe the tale or not. BUT, if it is true and there are any AMEX employees on this site, the poster may have given enough detail for someone to start investigating. I mean, you got a timeframe, some dollar amounts, some details{sign and travel -trip to Europe-name of a store}. You got AU and a name with an initial. I think someoen with a bit of time and a good database might be able to give it a reasonable shot. I didn't mention the x-collector part. Surely noone is dumb enough to give real details. Are they??????
Whether I believe this tale is not the question. The answer is what she did was plain and simple. She broke the law. Its one thing to really get behind on bills and fall on hard times, but to deliberately do it is criminal Just my 2 cents.
