I am like everyone else who has a FUSA account that was included in bankcruptcy that FUSA refuses to report correctly - they report as charge off with a balance. So, after many failed disputes, I sent them an intent to sue letter. Today, I received a letter that states: "Our records indicate that your account has been charged off and sold to B-LINE. Please contact them for any additional information." OK, they are admitting to me, in writing that they sold my account to another entity. Does that make it a violation for them to report a balance? If they sold the account, does the FCRA require them to report a zero balance? Would sending a copy of this letter to EQ and TU help in getting the balance removed from the account? The fact that the $10k balance shows is bringing down my score. Thanks for any advice.
Does that make it a violation for them to report a balance? If they sold the account, does the FCRA require them to report a zero balance? YES Yes
thanks for the reply lbrown. I called Experian and TU today, and both CSRs I spoke to said that if the account was sold, then they cannot report a balance. TU asked me to fax me the letter from FUSA. With Experian, it even says on the account "Sold to: B-LINE" When I pointed that out, she said "we'll take care of it." lbrown, can you recommend how I should proceed? I would like to file a lawsuit to, if anything, get them to settle for the complete removal of both accounts from all 3 credit reporting agencies. Any compensation would be gravy. Thanks in advance.
To follow up on this issue, I just received my update from Experian. THEY VERIFIED IT!!!!! They even list on the credit report "sold to b-line" yet Experian still reports a balance for the FUSA account. Experian has F**^ed up, right? Should I sue them, or send a letter threatening to sue, with proof that the account has been sold, and Experian's own mistakes, unless they remove the tradelines completely, or should I just go for some money? Whichever route I go, I am also going to do the same with Equifax. Equifax started showing a balance for one of the FUSA accounts when all along it had reported "paid charge-off." Any suggestions would be greatly appreciated.
Here is a possible Class Action Law Suit against First USA for exactly what has happend to many of us. http://www.chat-cards.com/wwwboard/bankruptcy/messages/49060.html
bump....... I'm looking for advice on how a letter to threaten Experian with a lawsuit. I want to settle for a minimum of getting the FUSA accounts off my report, up to, complete deletion of all negative tradelines. Any suggestions or link references? Thanks
Re: Re: FUSA reporting issue....letter Unfortunately, I have not come across anyone that has been able to repair this (hoping I would be first). Mine, however, reads "sold to: Weinstein" Well, William Weinstein is the founder of B-Line. Anyway, I am having a heck of a time with FUSA. They told me on the phone, "If we list the debt as Bankruptcy, then we have to update the file. By reporting a charge off, we do not ever need to report on or update the file again". Experian is, ironically, the only company that has pretty much 'fixed' the FUSA tradeline to almost accurate. I got them to change to zero balance, but now status is Discharge In Bankruptcy/Charged Off. Transunion finally added IIB, but still reports a past due. Equifax is the worst, also having changed from revolving account to installment. I would try to get a validation/verification letter from B-Line acknowledging that they own the account now. That is to be my next step. Or, I may send a very aggressive letter to Equifax and TU.
Re: Re: FUSA reporting issue....letter Sent a request into Weinstein asking that they acknowledge in writing that they now own the First USA account. I sent via CMRRR, even though I know they have no obligation to respond. I was hoping they would comply. I was nice (again), thinking I am only asking for what is on my credit report, and what they tell me on the telephone. But no luck. Had anyone had success in this type of situation? I want proof from them that they own the debt, and therefore FUSA cannot claim a past due balance. BKinNE
Re: Re: FUSA reporting issue....letter A couple more thoughts....since the debt is worthless, and they have no intent to claim, could they sell the account to me on the cheap????? And, would taped verbal statements said on the telephone serve the same legal basis as a witness would? It is either audio tape, or sue, from what I can see from the other side. Greg
Re: Re: FUSA reporting issue....letter The same thing happened to me today. Experian is reporting two FirstUSA/BANK ONE ( Bank One bought the First USA ) accounts as charged off with a balance showing. I have been disputing these accounts since December 2003 to no avail. I called and ask Experian if it was charged off didn't it HAVE to be reporting a 0 balance and she told me NO. She said they could report it either way. Mann and Bracken has the accounts now and FISRT USA/BANK ONE says they CANNOT change anything about the way it is being reported because Mann and Bracken has it. Experian told me this was not true, She said they could change it aanytime they wanted as they ARE the ones reporting it. Mann and Bracken says they aren't reporting anything and only the OC can change how it is being reported. The accounts both went inot legal dispute last September 2003 via my attorney. She has even written Experian and demanded that the dreogatory information be removed until the dispute is resolved , which it was, by my attorney via legal and binding arbitration and Experian refused to even reinvestigate with my attorneys letter and notorized copies of the arbitration awards !!! Anyone wanting to file a class action against FirtsUSA count me in !!! I can't afford more attorneys fees to get it straightened out and they refuse to budge on it even after a complaint was filed with the FTC. Anyone have any other suggestions other than hiring an attorney to sue them? IS there anything left that I can do? Transunion and Equifax have removed them.
Re: Re: FUSA reporting issue....letter Is First USA in breach of the binding arbitration award? What does your attorney say?
Re: Re: FUSA reporting issue....letter Yes they are and they have been officially notified and they don't give a hoot....obviously. So has MANN BRACKEN and get this.... MANN BRACKEN keeps sending ME correspondence trying to collect instead of contacting my attorney as they have been instructed to do and after I sent them a cease and desist. Each correspondence is a violation because if they know I have an attorney they aren't ALLOWED to contact me. They think they are above the law. I have documented BANK ONE/FUSA and MANN BRACKEN on at least seven violations of the FCRA, FCBA, FDCPA and in violation of their own card member agreement which deems it null and void and they STILL don't listen, I need to file for comfirmation of the award in Federal Court and that takes money which I don't have to spare right now. When I do sue them I will take them to the cleaners !!! Experian said they will only accept court judgements..not arbitration awards as proof that I don't owe the debt.
