Hi, I just discovered this website and hoping you can point us in the right direction. My husband had credit problems in the early 90's after graduating from college and not finding work. Needless to say, he racked up debt and his credit was bad for the first few years of our marriage. My the late 90's all of the written-off debt had been dropped from his credit report and his credit has been stellar since. We now have a mortgage, 2 car loans, credit cards, etc. all of which are in excellent standing with no late payments. We went to apply for a new mortgage loan last month and were shocked to find that a debt from 1991 has reappeared on his TransUnion report. He called to dispute the debt with the current debtholder (the debt has been sold a few times), and they maintain there was "activity" on the account in 1998, so they can still keep this debt on his credit report for 7 years from the date of the last activity. That's NOT TRUE! There has been no activity whatsoever. He wrote a letter to TransUnion explaining all of this. We received a response back from TU today simply saying the debt was "verified"--and that's it!. But they included none of the "proof" that we mentioned that would verify that there was activity in the last 7 years related to this debt. My question is: what do we do now? Is that all we can expect TU to do--just ask the debtholder if the debt is "accurate"? Of course the debtholder is going to say it's accurate...but it's not. Any and all advice would be much appreciated. Thanks, Heather
Did you ask the debt holder to validate? Wait about 10 days after sending the validation letter to them, then dispute again with TU.
The key word is 'validate' make sure you use that word in your letter. You did write didn't you? Please don't use the telephone for stuff like this. Send all communications via Certified Mail Return Receipt Requested. There are some great sample letters Here good luck!
It doesn't matter whether it is past the sol, or whether or not it was paid on, IF, it has been charged off or sent to collections. Period. This is taken from an ftc opinion letter. http://www.ftc.gov/os/statutes/fcra/amason.htm Making a payment may extend the time period for suing, but not for reporting. 2. Is the reporting period extended if (A) the original creditor sells or transfers the account to another creditor, (B) the consumer responds to post-chargeoff collection efforts by making a payment on the debt, or (C) the consumer disputes the account with a CRA? Does it matter whether the 7-year period has expired when any of these events occurs? No. In enacting the new provisions discussed above, Congress intended to establish a date certain -- 180 days after the start of the delinquency that led to the chargeoff -- to begin the obsolescence period. It did so to correct the often lengthy extension of the period that resulted from later events under the original FCRA. Enclosed are two staff opinion letters (Kosmerl, 06/04/99; Johnson, 08/31/98) that discuss the impact of these provisions, and the legislative history relating to their enactment, in more detail. Because the commencement of the seven year period is now described with some precision by the statute, it is our opinion that none of the subsequent events you listed -- sale of the charged off account by the creditor, or a payment on or dispute about the account by the consumer -- changes the allowable period for a CRA to report a chargeoff.
Thanks to everyone who responded so far. We have written to TransUnion, and received the letter back that I mentioned. However, he has only talked via telephone to the creditor. Based on your responses, the next step will be to write to the creditor and get them to "verify" this debt. Your help is much appreciated. Heather
Look here for the Lizardking validation letter and modify it to meeet your needs. Be very specific - ask for the "activity" that occured in 1998. Request copies of checks. Just be very detailed in your request for proof.
Scooby, This wasn't a Bank of America charge off was it? I ask because I have similar situation with the same dates. Also being reported to TransUnion by some bottom feeder CA out of Mass. that I can't find info on anywhere.
No, it wasn't a Bank of America charge-off...I think it was Key Bank. Regardless, we are now dealing with "Red Rock Capital" as they are the current debtholder. When asked on the phone what type of "activity" happened in 1998 that would justify keeping the item on his credit report, they replied, "Hmm, not sure...it just says 'activity' on your record that I have in front of me". They're gonna need more proof than that, because now we're even more determined to get the item off his credit report without paying a dime to "settle" (as Red Rock suggested we do!). Heather
Scoob, this is the exact same agency which I am dealing with. We gotta work together on this one. Email me privately so we can share intelligence. ASAP
When considering whether or not to "wake up a sleeping giant" it certainly DOES matter if it's past the SOL. Demand proof of exactly what "activity" took place in 98.
Omg, same agency, same dates and they reaged this crap? OMG I would sue the shit out of them right now. This is blatant disregard of the law. Report their illegal asses now.
I would love to sue them, but I can't find em. They won't pick up the mail at the po box listed on my credit report, not in the yellow pages, not listed with the Mass. Sec of state. They answer the phone with an entirely different business name (which also shows up no where). Can't sue em if you can't serve em!!
Most places will allow service of process via an advertisement in the major newpaper in whatever major cities are nearest to the last known location... I would submit that since they have a PO Box in whatever city, they can be served via a newspaper ad in that city..... But that is just my opinion.....
PAE, thats a good idea. An advertisement in the local paper. KHM. I have a po box address. I mailed a dispute to it and they wouldn't pick it up. I got it back in the mail yesterday as "unclaimed". Dirty bastards.
Badrep- You need to request an "alternate service" thru the courts in order to have it put in the paper. Just bring the unclaimed letter and your credit report with the address on it with you and explain to the clerk you cant locate them that you want to place an ad in the paper. What's the PO Box? Give us all the info you have on them, we may be able to find it.
If they are in Mass., they must be registered and bonded to do business in Mass. http://www.state.ma.us/legis/laws/mgl/93-24.htm and go to the other section of 93 for more info.
