Ok. I have a good one that I need help on. About 2 years ago we opened a loan acct with American General. We fell behind on our payments and received a ltr from them giving us 3 options. Pay in full and have the negative rating removed, etc. We of course chose this one. We paid in full over a year ago. They still have not fixed our credit reports AND we still have not received our Auto title back, even after several attempts and demands. I have been told they are "searching for it". My question is... I want to sue them for damages, should I send them a demand letter for payment, my title, and demand they fix my credit or just take them to small claims court and have a judge demand it? How many laws are they breaking here? I'm so frustrated! Any advice? Suggestions?
This would fall under whatever state you are in's Consumer Protection Law, and other written agreement laws. For instance, in PA (Thanks to the PA AG's suit of Cross Country Bank for this little tidbit - interesting reading even if you aren't a CCB customer in PA, if for nothing else it gives you a glimpse into PA's CPL.) under the CPL in PA, a creditor can be bound by the FDCPA, under the CPL. If your state has similar provisions in your states CPL, then it would be a false and misleading representation in regards to collecting a debt, and reporting. The question, have they updated the trade line at all since it was paid ($0 BALANCE, PAID) etc. If not, have you disputed said account? If they verify, then they are breaking their written agreement to delete the information.
Thank you so much for your reply. I have disputed this account with all 3 CRA and they have sent back it was a verified pd Chargeoff with a negative 9 rating. They will not let me dispute anymore because they say it has been verified. so I guess "yes" it was updated, but to relfect a paid chargeoff, which it never was. I sent a letter to AG disputing the notation and siting the agreement that was made. They sent me a letter once again saying they fixed it. But it was not fixed. Today I typed a 4 page letter to their legal department documenting my efforts and demading my title, the update, and damages. It has been over a year now. I hope I'm doing the right thing. Maybe I should just file in court? Obviously, I'm new to this credit thing. But I am determined to learn my rights!
Hmmm, at the least you should have a breach claim, since the payment was made conditioned upon their written agreement to delete the negative credit bureau reporting. By updating the account with incorrect information, per the written agreement, you should also have a FCRA, Section 623(b) claim. Actual damages would be the amount that you paid based on their written agreement, and any adverse actions which are based on the existance of their PAID CHARGE OFF appearing on your credit report. Hope you still have the letter they sent, tucked away in a safe place.
I can say with a sigh of relief... YES! I have all documentation from day 1 starting with the offer letter all the way to an aplogy with a promise to correct the problem and a promise to send me my TITLE! Which neither has happened in 14 months. The only reason I know about the bad report is because we were turned down for a loan due to the chargeoff.
OUCH... If you add how much you paid them under the deceptive agreement + the amount of the adverse action (loan denial)... You've already gotten them over the barrel... If you don't want to comply with the written agreement, you can pay me XXXX + XXXX, when I sue you. If you delete this account from all credit reports within 24 hours, and provide me with copies of the actual UDF forms showing that it is to be deleted by Overnight Delivery, you can only remit the $(amount of loan denial) in damages.
Butch and some of the other ITS experts can give you a better idea of how to phrase it, but basically that's the idea. You've had 14 months to fix it, now you have 24 hours, and you are going to pay either way...
You should spend timme to see what your state has for consumer protection laws. In the right state you will be entitled to hefty monetary damages for being jerked around like this PLUS the entry would be corrected to read as promised or deleted altogether. When that is done the place denying you credit must receive a copy of the corrected credit report. It's Olympics season, go for the gold.
I live in Kansas now. I lived in Texas when we got this loan. I called the Consumer Protection Agency in my area and they directed to their website. I have been sorting through it, it's sooooo long! But it's worth it. I'm tired of asking nice. I typed up a nice long letter today. I'm not going to send it until tomorrw just to make sure I have all my ducks in a row before I go spouting off demands. I am asking for damages, title and adjusted CRA rating as agreed. I hope it works. Thank you all so much for your replies.
It seems that you have done what 50+% of people do not do...keep records. Excellent job! To make this easier on you in case this goes to trial, make a timeline on a long sheet of paper. Try to keep it brief with notes that are relevant and to the point. After doing that, look up some of the letters written by the experts here and maybe the other credit boards. If you can afford to hire an attorney, who is knowledgeable in credit matters of course, it would help reinforce to AG that you will kick their @$$ should they not comply with your demands. I believe that if you can present to an attorney the facts of your case and he drafts a short letter for a small fee, it will go a long way. The only reason I mention hiring an attorney is that AG might doubt your credibility (and resolve) by now. Even if you present them with anything short of a subpoena, something that proves you can sue them in court, they may ignore *you*. An attorney will quickly summarize the facts and quote the appropriate state law to let AG know that you mean business. I wish you good luck with this. Research a bit more, be brief & to the point in your further communication with AG, and you stand a good chance of beating them.
