One account I had in CH7 was a First USA/ BankOne credit card. It showed up as a Charge-Off and a $5k balance due. I sent a letter basically saying that if they can't send me a bill for the balance due, then they acknowledge that the information reported to the CRA's was false, inaccurate and in violation of the FCRA, and I wanted the account deleted. Well, today I get a letter (no bill) back saying that as a result of their investigation, the new credit entry will show the account was sold to Weinstein and the the amount for Bankone will be zero. Now, it says it could take 30 days for the CRA's to comply with their request, so I have not pulled any new credit reports yet to see what is going on. I'm curious of when they sold it to Weinstein. I guess they sold it to Weinstein after the discharge. Will Weinstein have to also show Included In Bankruptcy and a Zero Balance? Has anyone else had to deal with Weinstein? Are they a problem or will they try to cause some problems?
If the creditor sold Weinstein your debt AFTER you filed Chapter 7 that is his problem. Why? Because they gagged him by selling off a worthless debt. That is fraud. His recourse is with them not you. Once Chapter 7 is filed, you are under the protection of the BK court which is a legal version of the Mafia. The BK judge is your godfather. If Weinstein takes any action whatsoever just notify the Chapter 7 Trustee who will notify the BK judge. They will call him in for a pep talk and he will suddenly find religion. You have nothing to worry about. He can't touch you.
Yea, I believe they bought it after the discharge. Since they bought a Chatper 7 discharged account, can this Weinstein make any reports to the Credit Bureaus? And Since First USA / Bank One no longer owns the account, does First USA / Bank one have to stop reporting information to the Credit Bureaus.....since it is no longer theirs?
It is illegal for anyone to take action against you for a debt that has been discharged by the federal government. That is like spitting in the face of Vito Corleone. As corrupt as I know the BK system and the judges and trustees are, I also know they will look out for you in a situation like this. Weinstein could be disbarred if he tries to collect knowing you have a discharge. If he contacts you send him a copy so that he is put on notice and forget about it. If the bank sold him the debt he might not be aware of what they did. Lawyers think they are smart but get shafted like this all the time. You are wasting your time worrying over nothing. Focus your energy on improving your credit.
FYI, if you did not know, Weinstein is one of the largest deliquent cc account purchasors in the country (mostly purchases od FUSA and Bank One.). They were probably sold the account BETWEEN you filing and being discharged (hmm.....violation of stay?) When I saw them on a credit report a few months ago, I wanted to know who they were. I finally located their office in Seattle, and spoke with a reluctant informant. The man was adamant that they owned the account, the machine, etc., and First USA was no longer involved. I knew they purchased the debt BEFORE discharge, bcuz he assured me, "if we believed we could have recovered some assets from you, we would have sent notice before your 341. We cannont collect anything now since we are in
Weinstein buys the accounts in bulk from FUSA when FUSA receives notices of BK filings. I confirmed this by talking to a CSR at Weinstein when I filed. Weinstein will not report on your CR. They just buy the accounts in bulk and hope they can collect something from some of them. If FUSA/BankOne is still showing a balance, contact the reporting agency and let them know that they account was sold. That way, the account will show a zero balance. On 2 of my reports, the notation turned into "paid charge-off." Experian is still "investingating" even though on my EX report they list the FUSA accounts and also note it as "Sold to B-Line." They acknowledge that the account is sold, but still report the balance. I guess I'll know on Aug. 14(30 days is up) FWIW - when my TransUnion report deleted the balances and showed paid charge off, my PG score jumped 22 points.
