I had an account w/ fingerhut in 99 that became deliquent. Went to collection. Did not update reports for 2+ years. NCO financial calls and I make agreement to pay on their hardship plan. I immediately received an update stating charge off/ making payments The update is from fingerhut on 2 reports and compucredit on another. The NCO rep fed me a heaping helping of bullshit. Says that they did not update and that is fingerhut and I can ask for deletion from the CRAs. He also stated that he is paid monthly and is retained, like a corporate attorney, by fingerhut. He also said my TU score is 718 (more like 608) and 500s are "good credit scores". I made the mistake of telling him I will pay $486 for 3 months to pay the entire balance. Now that I understand a paid and unpaid charge offs are the same, do I have to pay this. I was told I cannot have a judgement brought against me for a charged off account. What is the criteria for a judgement and can fingerhut or NCO take me to court. I really can use the money for other things. Thanks for all the help you CNetters have given me.
As long as you didn't commit to paying them in writing, for all practical purpose you never made an agreement with them. You need to determine when the Statute of Limitations is up in your state. If your past that point, they cannot sue you, and you can go tell them to piss up the proverbial rope because they can't do squat. Then proceed with validation routine.
SOL: 3 years for a revolving account in Arkansas. I do not think I made a written agreement. They have my checking routing #. Now that I have been paying for a couple of months, is it too late to try verification? I have read that if NCO has to verfiy, they will sent the debt back to the OC. I already have charge offs on my reports from fingerhut or compucredit. Can I still negotiate for deletion?
Yes you can if you have not paid them in full yet, get a request for deletion in writing before you make any payments. Also for SOL on credit cards, they are considered open accounts.
axxys/fingerhut and compucredit are reporting and updating the tradelines. NCO claims that they are not updating nor are they reporting. They said they will report when the balance is paid. They said I can get the other tradelines off, but I have disputed withe the CRAs and they were verfied. Do I need to stop payment and ask NCO to validate, or stop payment and get written letter stating they will not report? How can I get fingerhut to remove? Validation from Fingerhut? One last question; Is Compucredit a collection agency or a finance corp financing Fingerhut? Thank you.
Nevermind about who is compucredit. I went to their website and got that answer. They bought out fingerhut receivables in 2002.
