when u first get a collection letter does that mean it's already on your credit report OR do you have 30 days to ask pay/admit/ask to verify the debt BEFORE it goes on your credit?
budgetboy It never goes on your report prior to being validated If it does there is your first $1000 violation against the CA. This is why you don't want to delay sending out the VAL.L. The END ************************* LB 59
Geezus, Brown I thought I was old!! Asset Management 19Years .Financial Services 19 Years ...............Insurance 19Years ..........Stock Market 19 Years DGET HOMES CO. 30 Years ===================== Total.......................106 years. WOW! (LOL)
Re: Re: Collection Letters? Geezus, Brown I thought I was old!! Asset Management 19Years .Financial Services 19 Years ...............Insurance 19Years ..........Stock Market 19 Years BUDGET HOMES CO. 30 Years ````` ``````` `````` Total.......................106 years. bbauer ---------=====================------------ Bill someone from the board pointed this out to me last year when I was only 101. LOL The END ************************* LB 59
Re: Re: Collection Letters? Okay...I have a question. What if the initial communication states that if they receive no response they will report the account to the CRA's. Payment is sent the next day cancelled check shows it was deposited 3 days after that and the very next month they put it on the credit report for the first time as a paid collection?! They received a response and still reported...What the hell??
Re: Re: Collection Letters? Yep! That's the way the game is played. Absolutely! You paid them and that is your thank you note. You just cemented it on your credit report and now you can play hell trying to get it off. Sometimes you can and sometimes you can't. Of course, you can always claim it's not your after you paid it, can't you? (NOT) What the hell? You just proved me right yet once again. Never pay even one crying dime once it is charged off. The answer is obvious and simple. Learn the law forward and backward and use it to devise traps for them to fall into. Never give them an inch and force them to pay for their crimes and take it off your credit reports. Validation alone is not anywhere near enough to do it. Add estoppel to it and you still don't have a winner. It takes a lot more than that to get the job done. It takes a whole system and a whole different way of thinking about things. You basically have three choices. Let us say that your way is one of them. You now know the results of that. The second way is to send a bunch of letters to the credit bureaus claiming it isn't yours or whatever excuse you can dream up and you will probably get about 40 to 50 percent of the derogs off your credit report according to nationally published statistics. Then sometimes they come back on you after you thought you got them off. That is fairly rare but it does happen. And then one day you wake up and there stands that man with the big gun on his hip and a summons in his hand. Of course you don't have to worry much about that because only about 20% of all judgments are ever collected on nationwide, but then you just might get (un)lucky enough to fall in that 20% and get your wages garnished or whatever. One never knows. Of course, there is also the possibility that you can rid yourself of the judgment because most of them are null and void upon their face. All you have to do is learn why judgments can be vacated and how to do that and then go to court and get rid of it. Then they might file a new case on you. Seldom happens but it might. Probably would depend on how much you owe. Or you can learn how to terminate the debt, get rid of the listing and the debt in one fell swoop and never have to worry about either of them again. My statistics show that works anywhere from 75% to maybe as high as 95% of the time. Those are just about your choices. You have to decide which way you want to go. And sometimes it isn't a bad idea to use all your choices.
Re: Re: Collection Letters? Thanks Bill...I know all that now....I found this in my husbands files. He kept a copy of the collection letter and stapled his canceled check to it. This was from two years ago and was an insurance co-pay for $50.00. I was reading the collection letter looking for loopholes and violations and came across the paragraph. What I am going to do is go super nutcase on them. I sent them a moderately tame nutcase today by fax. Tomorrow I think I will send them copies of the check front and back and a copy of their letter. I'll argue deceptive practices and be the biggest royal pain I can be.
Re: Re: Collection Letters? I also have a "paid chargeoff estoppel letter" on my message board. It is free for the taking and like the nutcase letters may or may not work. Feel free to go grab a copy and fling that "bugger on their windshield" as well if need be. I give it away because as far as I am concerned if I can't do a whole lot better than "maybe maybe not" then people can just have it for free with my blessings.
Re: Re: Collection Letters? Bill, your paid charge-off estoppell/nutcase is a wonderful combo. It gets the liabilty removed and updated immediately. **When a collection agency say that they can't send an UDF for deletion, I have proof that they can and will*** YOU just have to find out how to twist the arm.
Re: Re: Collection Letters? Thank you. But the /nutcase kudos goes to Psychdoc, not me although he does say that I had an inspirational hand in its formulation. Be that as it may, it is he who gets the kudos on that series. Good! I am glad that it has been of help to someone. I seldom if ever hear any comments as to how effective it may have been for those who have used it successfully nor from those who may have used it unsuccessfully. So I really don't have much to go on in recommending it to anyone. Oh, I've also got lots and lots of proof of that. You got it. Thanks for the kudos and the report.
wrong once again. Most collectors put adverse information on your report BEFORE sending you validation letter.
Re: Re: Collection Letters? Show me where this is a violation! Its not a violation to report to the credit bureaus before contacting the consumer!
What is your reference for that statement? It should be patently obvious that you do not know most collectors so you must be quoting some statistic that you may have seen somewhere. Please explain what is the basis for your statement whatever it may be.
Derogatory info does get onto a person's CR without any type of prior notification. I have both COs and Colls on my CRs that I've never received any type of letters. And, 2 "aren't mine", in any way shape, or form, but, there they sit. So, now I write and mail, write and mail...
Which is exactly why I say one should never fool with the credit bureaus. Never must of course be modified with "there are those times." In otherwords, the less I fool with them the better.
Total.......................106 years. bbauer ============== That's what happens when you can't do more than one thing at a time. LOL The END ************************* LB 59
From my experience, it depends on the ca. I recently paid a medical collection that had not yet hit my reports. Upon payment, I sent them a letter of agreement that in accepting my payment, the item would never be reported in any way on my reports. This was one of my concerns with paying it...just to have it show as a paid collection. The guy at ca was actually very helpful...of course, he committed several violations during his first contact with me, so Im sure that may have helped. I still check reports on a regular basis to make sure this doesnt show up. As others have stated, estoppel has been very useful.
(Except fot TU. They've been so 'eager' to delete things that I'm starting to get paranoid. LOL!!!) The write and mail chain is with the CAs. By the way, does anyone have any current info on Montgomery Wards? The address I have isn't valid, and I know they went BK years ago. So, who is Exp verifying this with?
