All collection experts..HELP!!!!!!

Discussion in 'Credit Talk' started by Flagirl, Aug 7, 2001.

  1. Flagirl

    Flagirl Well-Known Member

    HELP! I've been working on my credit for over a year now and yesterday I get this letter from a collection agency that I haven't heard from in years and it says the following:

    "Dear Ms. XXXX
    Collection responsiblility for the above account was previously assigned to Equifax Risk Management Services. Effective 10/18/00, collection responsiblity for this account has been transferred to Risk Management Alternatives, Inc (RMA).

    Equifax Credit Information Services Credit Reporting Divistion has notified us that an inquiry has been made on your credit report. If you have applied for credit or employment that would require a credit investigation now is the time to improve your credit report. Please contact us so that we may assist you in clearing the balance owed."

    Can Equifax do this??? And then can the collection agency start to bother me again?
    Thanks for the help!
  2. SofaKing

    SofaKing Well-Known Member

    Yes, they can start to bother you. But, how affective it is will depend on how old the collection account is.

    If the account is beyond the Statute of Limitations for your state, then that is a defense you can use if sued. You must assert that defense, however.

    RMA recently bought out Equifax Risk Mgt. so that's why you are hearing from them.

    How old is the collection?

  3. Flagirl

    Flagirl Well-Known Member

    the collection is from 9/97. It was in Florida, I now live in North Carolina. I'm not sure what the limitations are, or in which state they apply!! Do they apply to where the collection is from or what state I lived in at the time, or now?
  4. SofaKing

    SofaKing Well-Known Member

  5. Cyprigirl

    Cyprigirl Well-Known Member

    The SOL can run between 4 or five years depending on the type of debt in Fla.

    First send out a validation notice to RMA, then dispute it with the credit bureau and they will most likely go away.

    I got the same letter earlier this year and I then when I found this board, I got busy. Do a search on validation letters on the board and then go for it.

    I am now batting 8 for 8 with the validation letters.

    At first I was skeptical but now I am a firm believer of the Validation letters. CAs don't want the aggravation.

    Good luck!

  6. Mist

    Mist Well-Known Member

    How are things going now for you to get your loan to finish your studies? I recall you posting that you may not have to sue the CB(s) now...

    Are you making any progress and more importantly, this being second week in August, do you have time now to get the loan for your tuition?

  7. cable666

    cable666 Well-Known Member

    That is standard CA bulls**t.

    Once a month a get a letter from a CA telling me that they heard I was recently turned down for credit or denied a job because of my bad credit. They further suggest that if I simply pay them the money they want, all my credit problems will dissapear.

    This is a blatent lie because (1) I work for myself, (2) I never apply for credit anywhere. They are just hoping I am dumb enough to believe them.

    Also, paying them off will not improve my credit. Only time will. In fact, paying on an old debt such as yours (pre 1997) will actually do more harm than good to your credit because it will reset the clock on the negative item. You will have bought yourself 7 more years of bad credit.

    Tell them to go jump in in a lake.
  8. Cyprigirl

    Cyprigirl Well-Known Member

    Hi Mist!

    Actually I have graduated this summer and it looks like I will get my loan. The items that prevented me from getting the loans have been deleted and I am just waiting for my report to be mailed to me, then I have to fax it to the supervisor who makes the decisions on th loans. He was pretty understanding and he said he would take care of it provided I send him the CR, he won't even pull an credit report.

    Thanks, Mist.


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