Had a mastercard 5+ years ago, didn't pay it. Account forwarded to collection agent #1, didn't pay them. Account then sold to collection agent #2, DID pay them in 2000. I pull credit report frequently (every 6 mos.) and there's no trade line at all for that original Mastercard or collection agent #2. (one I paid) There is an open, active collection account from collection agent #1. I call collection agent # 1 and they tell me they will close the account if I provide them a letter of payment from collection agent #2. What would you do? If I send them this letter will the MC and the CA # 2 magically re-appear? If I send them this letter how will the tradeline appear on my report? Closed? Paid? As it stands not, it's showing 120+ late. This account dates back to 1997!! 120 days late my ass. Should've been charged off by now, no?
Close this can of worms immediately. Do not, under any circumstances, provide the letter requested, because it gives a new status (paid collection account) and may start the 7 year FCRA clock all over again. As it stands now, you have at most 2 years left on the FCRA clock. What you might do is dispute it with the CRA. It is possible (but not likely) that the CA will not verify, then off it comes.
Re: Re: Could I be opening a can of worms? But it still shows up as active! Even though it's an open account it will drop off in 7 years. If that's the case, my time is almost up!! The CA will verify, they have all all of my information. I called them today and they pulled me right up.
How can CA 1 verify if they don't own the account? If CA 1 sold it to CA2 just dispute with CRA's The 7 year clock can't be restarted. It's Federal law. Unless a CA or OC ILLEGALLY "re-ages" your account it will NOT stay on your report for more then 7 years. Good luck!
Re: Re: Could I be opening a can of worms? Can you tell me what "re-ages" means? So my conversation with CA #1 should've been "how dare you have an open account for me when you sold my debt to someone else years ago?"
Re: Re: Could I be opening a can of worms? This is from my FICO report: There is evidence of a late payment on your file as recent as 5 months ago. Roughly 46% of consumers have some evidence of delinquency in their credit history. Among these consumers, their most recent late payment was, on average, 19 months ago. Click here to review your Negative Items. NO late payments for the past 5 years!!!! This one tradeline is ruining my score!!!! Maybe they are re-aging it???
Re: Re: Re: Could I be opening a can of worms? The date that an item can be listed on your credit report is from the DOLA (date of last activity). 7 years from that date. Some seedy CA's well "reage" the account by changing the DOLA to a later date and there for be able to report for more than 7 years. This is very illegal. This has nothing to do with the reporting date. The DOLA is generally from the date of the charge off from the original creditor (give or a take a few months). Sounds like CA1 is upset and just trying to hurt you the only way they can. Damaging your credit report. If I were you, I would send a validation letter to CA 1 and then dispute with CRA after receiving the return receipt (green card). In your validation letter be sure they tell you if it was sold or assigned to CA2. This is a big difference in your case. Make them prove that you owe them money; not that they have your information. If you paid a different CA, then obviously you DO NOT owe CA1 anything and they can't report that you do owe them money. I would also stop talking to them on the phone and do everything in writing.
Re: Re: Re: Could I be opening a can of worms? Which CRA and what is the "Status Date" (or similar worded part of the trade line)? If they are re-aging, you can sue the CA and collect.
Re: Re: Re: Could I be opening a can of worms? It has a column, Account status: "120 days past due" I'm trying so hard not to call these people and scream.
Re: Re: Re: Could I be opening a can of worms? Do everything you can not to call them. They will beat you on the phone, that's what they're good at. Send a validation letter demanding proof of the debt and their legal right to collect the debt. Don't say anything about paying it to another CA or anything like that. Just make them prove it or remove it. At the very least it needs to be listed as PAID. That's no better than not paid (unless your going for a mortgage in the near future.) You can get this removed due to the fact that they are knowingly reporting false information and there is a violation there. Keep reading here and learn all you can before you jump into it. It will pay off to be smarter then them... In the mean time...Stay off the phone with them.
Re: Re: Re: Could I be opening a can of worms? 1*Don't say anything about paying it to another CA or anything like that. Just make them prove it or remove it. 2*Send a validation letter demanding proof of the debt and their legal right to collect the debt. losercore ============= 1*This is why you don't change the validation letter or make additions to it. This is to prevent you from saying the wrong thing and shooting yourself in the foot and puting said foot in mouth. 2*Here is what you send Here is the Validation Letter you want to send. Don't make any changes on it and don't hand sign it. Your Name Address City State Zip Company Address City State Zip Date RE: Account #_________/Original Creditorâ??s Name Dear Sir/Madame: Thank you for your recent inquiry. This is not a refusal to pay, but a notice that your claim is being disputed. This is a request for validation made pursuant to the Fair Debt Collection Practices Act. Please complete and return the attached disclosure request form. Be advised that I am not requesting a "verification" that you have my mailing address, I am requesting a "validation;" that is, competent evidence that I have some contractual obligation to pay you. You should also be aware that sending unsubstantiated demands for payment through the United States Mail System might constitute mail fraud under federal and state law. You may wish to consult with a competent legal advisor before your next communication with me. Your failure to satisfy this request within the requirements of the Fair Debt Collection Practices Act will be construed as your absolute waiver of any and all claims against me, and your tacit agreement to compensate me for costs and attorney fees. Sincerely, Your Name don't sign - - - Include the following on a separate sheet of paper - - - CREDITOR DISCLOSURE STATEMENT Name and Address of Collector (assignee): _________________________ Name and Address of Debtor: ____________________________________ Account Number(s): ____________________________________________ What are the terms of assignment for this account? You may attach a facsimile of any records relating to such terms. Have any insurance claims been made by any creditor or assignee regarding this account? YES/NO Has the purported balanced of this account been used in any tax deduction claim? YES/NO Please list the particular products or services sold by the collector to the debtor and the dollar amount of each: Upon failure or refusal of collector to validate this collection action, collector agrees to waive all claims against the debtor named herein and pay debtor for all costs and attorney fees involved in defending this collection action. ________________________________ Authorized signature for Collector Date_______/_______/_______ Please return this completed form and attach all assignment or other transfer agreements that would establish your right to collect this debt. Your claim cannot be considered if any portion of this form is not completed and returned with the required documents. This is a request for validation made pursuant to the Fair Debt Collection Practices Act. If you do not respond as required by this law, your claim will not be considered and you may be liable for damages for continued collection efforts. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ """""""""```~~~```'""""""""" THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
Re: Re: Re: Could I be opening a can of worms? Well.. I did some detective work and as it turns out, my entire original post is wrong... I called the CA again, I know, bad move right? Asked the CA how they received my file. CA said it was sold to them from First National CA. First National CA was the one the one that I had paid years ago. The CA on my report told me that I needed to fax them a letter of satisfaction from First National CA and then their tradeline would be deleted completely. If I couldn't obtain the letter, he then suggested I mail them a dispute letter and they would investigate if the charge was truly paid or not. SOOO, I call first National CA. The recptionist tells me that no one will speak with me becasue my account has been sold to another CA. I calmly explain to her that it should never have been sold because I paid it off, years ago!! Luckily, I had saved the canceled checks along with FedEx receipts that contained the contact name at First National CA. Receptionsist finally puts me through to the actual agent. Get this... Not a "hello" not "how can I help you." She says.. "Mrs. XXX, I am very sorry for the confusion and inconvenience, I don't understand why your account was sold after it was satisfied." I will mail a a letter of satisfaction out today. So now I need to receive this letter and fax it to CA on my report. Will they really delet the tradeline? Isn't this illegal???? How dare they sell a collection account that has been paid in full???????????? I'm so pissed, this is the ONLY derog on my report and my Equifax score is only 633, probably becasue it says I have an open, active account that's 120+ days late!!! Do I have any recourse?
Re: Re: Re: Could I be opening a can of worms? That's good news. They should delete it. It's always best to get it in writing, but since you won't be paying the CA anything, they have nothing to gain by not deleting. I hope it all works out for you.
opening a can of worms? Can you tell me what "re-ages" means? lisamar378 | =============== Changing the date so something will be reported over 7 Yrs. It's illlegal. THE END ** *** ** LB 59 """""""""```~~~```'""""""""" http://homepages.nildram.co.uk/~blagger/the_duel.html http://www.justsaywow.com/pages/flash/warm_bottle.cfm
Re: Re: Re: Could I be opening a can of worms? I'm trying so hard not to call these people and scream. lisamar378 ================= Don't call them they will use the call against you!! """""""""```~~~```'""""""""" THE END ** *** ** LB 59
