Ok--I'm going to try this again: In the Spring of 2002, MBNA sent me and my husband to arbitration on 2 different accounts through Wolpoff & Abramson. We got very scared and we've been making payments to W & A ever since. We just applied for a mortgage and found out that one of the accounts is reporting as a "charge-off as of 3/2004". The other account is just listing a bunch of lates (variety of 30, 60, and 90 days). What is weird about the 2nd account is that it is listing that it is currently 60 days past due. MBNA is the one reporting on both accounts even though we have paid W & A over the past 2 years. We have paid over $3000 on each account. We're very frustrated because even though we've been paying on these accounts, they are the 2 biggies that are ruining our chances at a good mortgage rate. We don't have the money to pay off the accounts, but we won't have any problems continuing our monthly payments. I haven't sent a payment for April yet because I'm wondering why am I paying if they're going to keep reporting us as "Charged-OFF" and as LATE? MBNA won't talk to us because they say that they no longer handle the accounts, yet they're the one who is reporting!!! Frankly, I'm afraid to talk to W & A. I would like to handle everything through the mail. Who do I write to and what kind of letter should I send?? Thanks, debtchoked 550 and falling
try disputing the MBNA trade line with CRA and tell them they no longer have the acct to collect and the CRA are reporting inaccurate info as this acct is being paid in monthly payments to w&A? and is not a C/O. and request deletion they will probably still investigate and hopefully solve your problem . if not contact the Bureau of fin institions they regulate the banks that are NA associated. I would also write a letter to W&A? and request that they add their TL to your report showing the payments. If MBNA remains after the investigation you have a FCRA violation and would seriously consider seeking a lawyers advice and assistance. lawguru.com and findlaw,com have legal info for each state. lawguru allows you to ask an attorney legal question for your state. findlaw helps you search state, federal and local laws and codes.
thanks for the advice. I've just put together letters to the CRAs. I'm sending them a copy of the letter I sent to MBNA (it's been over 30 days with no response) along with a copy of the CRRR green card. Should I make any payments to MBNA in the meantime? I'm leaning towards not making any payments on the "charge off". Should I make a payment on the account that's showing the lates? If I'm successful in getting the TLs deleted and I stop making payments, will they come back to haunt me?? That's what I'm afraid of. Thanks, debtchoked
I'm leaning towards making a payment on the CC account that has a bunch of lates listed, but not making a payment on the gold option account that's listed as a "charge-off". If an account is listed as a "charge off," doesn't that mean they've already written it off? I guess what I really want to know is whether or not the "lates" and the "charge-off", if removed from my credit reports, can be put back on there if I don't make any more payments.
