My FirstUSa/bankone account was discharged in a C7 bankruptcy 3/2004. FirstUsa / Bankone sold my account to weinstein in the beginning of July 2004, they sent me a letter saying so. Now, I get a letter from Bankone in August 2004 saying they are updating my credit report to "Charge-Off" again. If they don't own the account anymore, can they keep reporting to the credit bureaus on it? Also, if I call Weinstein and offer them $50 bucks for the accont, and I become the owner of it.....can I have it deleted off the credit bureaus?
Bellyup--I saw your message on another board that this was resolved-----it appears FirstUSA won't give up. I still would like to see the letter you sent to the cra's threatening FTC involvement. I believe FirstUSA will be breaking the law to report chargeoff. In my opinion, any new reporting should indicate "sold to Weinstein". When I brought the same issue up to a FUSA cust rep, he said "we bought the account back". Its BS, but they say anything and report what they want. Until action against them is taken, or they lose a lawsuit, they do not care. I am curious if Weinstein would sell the debt. I pondered the same question in a past post. BKinNE
I called Weinstein and the guy said that they didn't buy the account and it was returned to FirstUsa. He said that it was initially sent to them with other BK account to look for fraud and when none were found, and they could not collect anything....they sent it back to FirstUSA. The "Sold To" letter was incorrect. He was decent and we talked for a while. He actually agreed that FirstUSA reporting was incorrect and they should not be doing that. Now I received a letter from BankOne saying they my account would be changed to "Charge-Off" but as of today, it is still off all 3 of the credit bureaus. I tried to email you from this site but it won't let me. Go back to the other site and get my email address there and email me. If I publish my email address, all those telemarketers will start sending me more stuff on mortgages, viagra, ciallis, rolex watches, buy a degree, cheap software, hot girls.....etc.
I had a feeling they would say that. However, I think it is a line of BS, and Weinstein does own your account. In my opinion, they just cooperate with First USA in saying what the bank wants. I will share my experience---filed 7/03, dc'd 10/03. In Jan. I received experian report, and it said 'account sold to another lender'. I filed dispute, as I could not imagine they sold a BK acct. The dispute came back with verification, plus they now specified 'sold to Weinstein'. Wanting to clarify, and have the reporting changed, I called First USA (again, last January). I told the rep I did not agree with the TL listing. He told me, "we report the account as it was when we sold it. Since Weinstein now owns it, they must make the change." I argued for about 5 minutes, but he kept insisting, "Weinstein owns the account. Only they can change it." He then gave me their telephone number. I called Weinstein that same day, and the guy there said, "yes, we own the account. However we will not report or try to collect as you are already discharged." I asked if he could sent me details of the sale, and he said "no that is private information about a private sale." Well, about 45 days ago, I spoke with a FUSA rep again, and said "How can you report a past due balance on an account you do not own?" He said "what do you mean". I explained, even my credit report showed "sold to Weinstein." He put me on hold, then came back and said "we never sold the account; we only assigned it." I explained that they reported and verified several times times that the account was sold to Weinstein. He then told me I would have to call the buyers department the next day. I immediately called Weinstein, and not wanting to tip them off, I simply asked, "I have a credit report that shows you bought my account. I want to confirm that you are indeed the owners." He took about 30 seconds, and said "yes, we now own the account." I asked for the date they purchased the account, and he said " It was August of 2003, about a month after you filed. But we are not a collection agency, and since you have the discharge, we will not report or try to collect." So, clearly I have several documents showing FUSA sold the account. But I would bet that they will probably tell me FUSA owns the acct. They report what they want to, and could care less about us.
I have read about one more method some claim has worked to get deletion of the Banc One/FUSA tradline. They excercise their right to submit a 100 word statement, and make it highly negative against the CRA they place it with. For example; "Due to Transunion's refusal to correct this account, or complete a fair and proper investigation, despite being given documents and information proving the data to be false, I want to state that I have no balance with FUSA, either current or past due. In violation of FCRA 62x(x), the account is being fraudulently reported in this way by FUSA, and TU, despite multiple requests to correct the data. Since neither entity has an interest in reporting the true status of this account, I feel it is my burden to make my report accurate. The true status is that the account was sold to another lender about August 2003," This is kind of what a letter about my situation would say. However, I would make sure your statement reflects your situation. I am curious, does anyone see a downside to this approach? The theory is that a CRA would rather delete an account that have to place this damning notation in your report, BKinNE
