Help me please. I had a cu credit card cl $500; only chrgd about $350 but interest rate 12%. They charged it of and balance rose to $724. I called them to make a settlement but they want the whole balance. they have also taken my acc to collections and both parties are reporting on my credit report. I havent talked to the CA or received anything from them. what should I do? validate the debt ith the CA or make a settlement with the CA or CU?
How old is the debt? I had a chargeoff credit card from a credit union that was rather old (c/o in '96) and I called the CU and told them they need to remove it from my report because it's past the 7 years (well, this wasn't *totally* true, due to the FCRA changes in '96, but still). I asked to see back statements to verify the actual chargeoff date and he said that's too much work and faxed me the UDF. The dates they were reporting were way off and we both knew it. I pretty much played off his insecurities, and it worked.
Sounds like your situation is much more complicated...perhaps someone else can chime in and help you with this one. One thing I would do is try to find out exactly *who* is collecting this debt...the CA or the OC. Then go from there.
I would dispute the CA account with the CRA's. It sounds like they have no information regarding this account. Especially if you contacted the OC and they have the information. This should get the CA's tradeline removed quickly. I would also send validation to the OC asking for full orig. contract with signature, full accounting of acct., ect... If they don't respond, then that's a violation and you can demand deletion. good luck!
The validation letter on this website states if the CA has been contacting me, but I have never received any letter or phone call from them. I called the Georgia Telco and they said they need the whole balance, I havent called the CA. I talked to a mortgage manager and she said if the debt is more than 2 years not to worry, I still can get mortage, is this TRUE? I just told her-she didnt pull up my credit. Please help.
Change the letter say something to the effect "I am reponding to a notation on my CR......" This is the point, you TRULY have NO KNOWLEDGE of owing them(the CA) a debt. Also send the same validation letter to the OC(even though you've talked to them). Make them prove what they say you owe! I could call your house and say you owe me 5million bucks, bet you'd ask me to prove it! Like I said, if neither the CA or OC do NOT validate, you can sue for violation of the FDCA. Dont pay ANYTHING until they send you validation! Don't know about the mortgage brokers comment, no experience in that area. But I've heard that you need 2 years of GOOD credit, not BAD credit that's older than 2 years. Maybe someone else here can help with this one.
