Hi My last thread it was on 1/30/12 I just want to say that I have not heard from the collection at all for 9 month. Any body knows why they never try to call me or send me any thing? Thanks
Maybe they just gave up on trying to collect from you because they didn't have sufficient documentation. Are they still reporting the debt on your credit reports?
Hi I pull my credit report almost every month from creditkeeper.com sometimes very hard to undestand the report. It showes that on experian : KD I don't know what KD means? Equifax : OK Transunion shwoes nothing. This is what showing: Experian Equifax Transunion Account Type: Factoring Company Open Account Collection Account Account Status: Closed closed closed Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department At least 120 days or more than four payments past due Comments: Account in dispute-reported by subscriber UNKNOWN COLLECTION ACCOUNT Account information disputed by consumer Date: Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11 12 12 12 12 12 12 12 KD KD KD KD KD KD KD KD KD KD KD ND ND ND ND ND ND ND ND ND ND OK OK OK OK OK OK 120 OK OK OK OK OK OK OK I think I need to pull out my credit report from annual credit report to compar the 2. Do you witch one I should pull out from the annual credit report is it Experain,Equifax,or Transunion. Thanks
KD stands for "key derogatory". The info. you copied and pasted here is difficult to read in its current format, but it looks like the account is reporting that it's closed and in dispute. I would pull all 3 of your credit reports from annualcreditreport.com so you can compare. You can get a free report from each CRA.
A C&D carries with it some risk if the debt is within the SOL for your state, that the only option that you are leaving the CA is to file a lawsuit to collect the debt. A VALIDATION letter demands that the collector provide validation of the debt, which proves that (a) the amount they are collecting is 100% complete and accurate, and does not include fees that are not allowed by the contract or state law, and (b) you are in fact the correct party. A validation can be as simple as "I have no idea what you are talking about", be careful when using some of the sample letters (a) the CAs and their professional organization have gone through the most common with a fine tooth comb to debunk most of them, and (b) you don't want to accidentally say something that would be construed as a C&D which would open you up to being sued for a debt because you left them with no alternative than to sue you for the debt. Writing your own validation letter is the best way to avoid both of those pitfalls.
If a CA goes away after you demand validation, it means that they were not yet able (or willing) to obtain validation for the debt. The FDCPA requires that if the consumer demands validation within the first 30 days of the initial written communication, they must cease collection activities until they have OBTAINED and MAILED said validation.
Ok, I went on the Annual Credit Report and I got my report from Experain and Transunion. TRansunoin showing this information: Date Opened:2008 Responsibility:Individual AccountAccount Type:Installment AccountLoan Type: UNSECURED Balance: $0 Pay Status:>Account paid in Full; was a Charge-off<Date Closed Remarks: PURCHASED BY ANOTHER LENDERE. Under it showing the collection name with information as : Placed for collection:2011 Responsibility:Individual AccountAccount Type:Open AccountLoan Type: FACTORING COMPANY ACCOUNT Past Due:>$ Pay Status:>In Collection< Remarks: ACCT INFO DISPUTED BY CONSUMRE. Experian showing this information: It showing the name of the collection name ,and Account opend : 2011 type: Debt Buyer Status: collection account last reported: 9/2012 Account disputed by consumer meets requirement of the the fair credit reporting act. Also under it showing the original holder account with their name. opend :2008 Purshased by another lender status: closed written off
So the debt was charged off by the OC, sold to a CA, and then disputed. That's what this is telling you. Experian is saying that it was verified and meets FCRA requirements.
Is the FCRA means that the collection provided transunion with paper work that validate the debt or something is that what you saying or meaning fro my credit report? can I dispute the OC if it charged off ?.I want it to come off my credit report? How come my report don't show my bankrupcy? If the collection reporting to my credit report how come they do not contact me? Can you please awnser all the three question if you can? Thanks
Yes, I'm saying that it sounds like Experian has investigated your dispute and believes that the debt should still be listed on your credit reports. If there's something incorrect regarding the charge off, you can of course dispute that through the CRAs too. No guarantees that it will be deleted though. Regarding your question about BK, I'm surprised it's not showing on your credit reports. When did you go through bankruptcy? And finally, the CA will likely contact you at some point regarding this debt. They may have just not gotten around to your file yet.
Keep in mind the verification of the data isn't done by the CRA, it's done by the DATA FURNISHER, or the CA. And the CA most likely is only verifying the data off of the meager records the ORIGINAL CREDITOR gave them when they opened the account. (Also, I've discovered that some CAs will automatically report the "account in dispute" notation to avoid the FCRA/FDCPA dings for not notating the account as being disputed, if it is disputed.) If it were me, I would send a letter to the CA, via fax or CMRRR, demanding validation, then a dispute to the CRAs after the CA received the dispute. If you can do a dispute of something other than NOT MINE, (unless it's a specific NOT MINE - as in Johnson v. MBNA) it's ideal. Of course, the standard disclaimer, I am not an attorney, and I don't play one on TV, so this isn't legal advice, it's simply the route that I normally take in similar circumstances.
I am just curious do you think when you write somthing here,and if you have a collection thats after you do you think the collection will know who you are just by writing on this site? The reason why I am asking this question because I have not heard from the collection for a long time,and I have not used this forum for a long time also,but I started my first thread back on her on 9/17/12, well guess what the collection contacted me on the 9/20/12 by mail. I think thats just weird and fast? Do you know if the debt will still fall off of your credit report the same time when you stoped making payment with original creditor? I think my state is 7 years? The collection agency just started started reporting on my credit report those also my SOL started at all over again? If the loan original amount with original creditor was $8800 Hight balance of $12200 Now the collection want to collect $ 14400 Is this crazy and not fair. How much you think the collection paid for the acount to buy it any way? Even if someone want it to settle an acount like this, what is the a fair amount to settle with? Please if you can answer all my questions that will be very nice? I asked at least 4 to 5 questions I would like answers on all of them. Thank you so much.
The timing is probably a coincidence. I doubt the CA knows who you are just because you've posted here. That said, anytime you post something about your situation online, it's a good idea to leave out unimportant information that could identify who you are, just to be safe. Anyway, the date your debt will fall off your credit reports is based on the DOFD, which is when you first became delinquent with the OC. The CA can't change that, so it should remain the same. Most negative marks will fall off after 7 years. Also, just because a CA begins reporting something on your credit reports, that doesn't mean that the SOL has been reset. Now, regarding what the CA wants to collect, it's not uncommon for CAs to charge thousands in interest and fees on top of the actual balance. Whether that's fair is a matter of opinion, but the point here is that they most likely paid pennies on the dollar for the debt when they bought it. That means that if you're interested in settling and you have the cash to do so, you should be able to negotiate a much lower number than what they're asking you to pay at this point. I would say something in the 30% range is a win.
Well looks like the collection added about $ 2000 in interest and fees or what ever they called it. Besides the OC also added about $2000 before they charged off and sold it. What kind of strategy you can take to take care of this debt if the collection sends you a settlement letter demanding 75% to settle the debt? Is it even safe to answer them back with settlement offer because I dont want my SOL to start at all over aging or I dont want to contact them and they will take that against me and it will mean that I owe them the debt. i Know the collection they can take any thing against you and i don't want that to happen just because I contacted them? Why is it my BK not showing on my report? Where can you find settlement sample letters please? If it's ok to contact them with settlement offer do you think 30% is fair offer if they want to agree for deletion of the debt? please answer all my 4 or 5 questions if you can. Thanks so much.
1.) If you want them to delete in return for payment, an offer offer of 30% probably isn't going to work. In fact, you may have to pay in full if you want the tradeline deleted. I also wouldn't worry about simply making a settlement offer. It's not going to restart the SOL or anything. 2.) The BK may not be showing up on your credit reports because it's already fallen off. 2002 is 10 years ago. 3.) I suggest not copying a sample letter. Keep you letter simple, in your own words, and just make your offer. It doesn't have to be complicated.
There is no way any body will pay in full that almost $ 15000 Who has 15000 this day to give a way,plus most of it just fees that it should not be charged. So you saying if someone want it to be deleted they need to pay the collection in full. Is there any body out there who paid less than full balance,and they don't ask or get the debt to be deleded from their credit report. If that the case why people pay any way if it going to stay negatif mark on their credit they can just wait for it to fall of ?
Yes, I'm saying that it will probably be difficult to negotiate a PFD if you can't pay in full. Every creditor will be different, so I could be wrong in this case. I'm just trying to give you some perspective so you know what to expect. And many people do choose to not pay in hopes that they can wait it out and the debt will simply fall off their credit reports. Remember thought, that this doesn't mean the debt itself goes away. They can still attempt to collect.
You mean the collection will still try to collect even after the SOL? Can you please tell the addresses for Equifax,TransUnion,and Experain? Is better to dispute inquiry by mail,phone,or writing them a letter? I just to thank you for all your help.
There's a sticky at the very top of the forum regarding CRA addresses. Here's a link: CRA Addresses I would keep my disputes in writing or by fax. And yes, a collection agency can continue to collect a debt after the SOL has expired. They just can't take you to court and win since you would have an absolute defense by proving that the SOL for the debt expired.
