About 6 years ago I applied for credit at Radio Shack for a computer. At that time my credit was weak, so they stated I needed a co-signer. I called my dad and he offered to co-sign. They accepted his SSN on the phone, and processed my application. The first few bills went to him, so with my payments I sent notes asking to have the bills sent to me, with my name. No luck. I then started making phone calls, and discovered my name was nowhere on the account. I was told that since he had signed for the account, it was his debt. I started a dispute with them, and they advised me that they would research the account and get back to me. Now forward ahead a year or so. Collection companies calling him, me making payments to keep it out of collections, and still no proof or answer as to how it is HIS debt, and not mine. This went on for 2 more years. Last year I contacted the collection agency, offering to pay the debt in full, if they agreed to transfer the poor credit rating to my credit report, and to take it off my dads. (He's a little bitter about this whole thing)Can't do. I started the whole inquiry process again, to no avail. Now I get a call from my mom, who states that in the process of my parents impending divorce, he wants a letter from her agreeing that the debt is soley mine. Apparently a new collection agency has contacted him. Is there anything I can do? The debt is now 6 years old, and they have never furnished proof that my dad agreed to the terms of the agreement. I have always agreed to make payment arrangements until this was straightened out, but I want it off my dads credit. Any advise?
Your dad is an adult, he needs If I were you, I would just wait for the full 7 years and the negative trade line from the collection agency is deleted. It is too late for them to sue you for the money and so basically in this respect you are free and clear. Considering your parents waited this long to get a divorce and finally try to find happiness I don't think a year is too long to wait at all. My dad helped me to ruin my credit. In one instance I financed a $2,800 Mac SE (1990) with no job! I was in school. Well, they broke into the house, stole my computer as well as alot of other stuff I bought on credit when I was away in school. My dad got insurance money and instead of paying off my debts, pocketed the money. Now years later I resent him for it and all the years of my life I have had to struggle financially due to my bad debts. I can't conceive of a father being so negligent with his own son's financial health and to this day I don't even speak to my father over this. Even as I approach 30 years of age I am struggling to pick up all the pieces and I know some of the emotions you must feel about this issue. Whatever you do, don't feel sorry for your folks, don't try to hurt them, but just stay away from them and keep them out of your finances. Your life is your life, not theirs. Your dad is a grown adult, let him take care of his own credit report and you worry about yourself.
Don't let them tell you the collection agency "can't" do anything but leave you (or your dad in this case) with a bad mark on your (his) credit. They can do anything they want to on it, or at least they used to be able to (maybe its changed). In 1991, when I was cleaning up my credit, I had a collection agency dunning me for a $31 check that had bounced when the bank closed my account when my checkbook got lost. A check bounced and never got paid. A year or so later I was contacted by a collection agency who wanted around $100. I thought that was too much and didn't handle it. Interest kept building up and when I finally decided I wanted my credit cleaned up, I called the collection agency and talked to one of their front-line people who (of course) had to do everything by the book which doesn't allow for any negotiating of terms. I then asked for a supervisor, and then for her boss, had to call back several times to actually talk to him and found that he was far enough up the organizational structure that he had some leeway and could actually make a decision of his own. What a breath of fresh air. I told him that the whole thing wasn't fair, but I was willing to pay them off 100% of what they were asking anyway, if they would list it as "paid as agreed", which he agreed to. I took a cashiers check over to him right away before he forgot or changed his mind, and him sign an agreement to that they would list the account "paid as agreed" and sure enough they did. So it can be done. But if you pay them first, what incentive do they have to do it?
RE: Your dad is an adult, he n Jeff, Ever consider legal action? Jeff wrote: ------------------------------- If I were you, I would just wait for the full 7 years and the negative trade line from the collection agency is deleted. It is too late for them to sue you for the money and so basically in this respect you are free and clear. Considering your parents waited this long to get a divorce and finally try to find happiness I don't think a year is too long to wait at all. My dad helped me to ruin my credit. In one instance I financed a $2,800 Mac SE (1990) with no job! I was in school. Well, they broke into the house, stole my computer as well as alot of other stuff I bought on credit when I was away in school. My dad got insurance money and instead of paying off my debts, pocketed the money. Now years later I resent him for it and all the years of my life I have had to struggle financially due to my bad debts. I can't conceive of a father being so negligent with his own son's financial health and to this day I don't even speak to my father over this. Even as I approach 30 years of....
