I have 2 MBNA accounts that are being listed as "Charge-Offs" with balances listed ($5500 and $4500) on all 3 CRA reports. I paid both accounts through CAs (one in August 04 and the other in Sept 04). The CAs have never reported to the CRAs. Both accounts have always been reported by MBNA. Because both accounts are paid, I tried once again to claim "not mine" with the CRAs. They always come back as "verified--no change". When I contact MBNA, they say that they no longer have the debts. MBNA doesn't claim the debts, yet they are the ones who are reporting. The CAs love me because I've paid them, but because they are not the ones who are reporting to the CRAs, they can't help. What do I do?? ANY help would be greatly appreciated. debtchoked
I sent another letter to MBNA asking for verification. How should I approach this with the CRAs once I receive the green card back from MBNA?
If MBNA charged off these accounts and sold them their TL should read charge-off / sold 0$ balance If they are not reporting this then your CR is inaccurate
How do I approach this with the CRAs? I don't want them to read as "Paid Charge-Offs," so I haven't sent the proof of payment to the CRAs. I was afraid that doing so would validate the debt. I would actually like to get them completely removed. I was hoping that since they are now paid, I would be able to do that somehow. The problem is, I keep getting the old "already verified" over and over again from the CRAs. How do I fight this?? Thanks, debtchoked
MBNA can legally report their TL for 7 years, however, right now they are reporting it incorrectly. I understand you would rather have the TL gone all together, and don't want to show them your evidence that the debt has been paid. Maybe others here can give you some ideas, but unless you give them a reason why they should change the TL, I don't know what else you can do. If you keep disputing as "not mine" they will eventually label your disputes "frivolous". Maybe you can dispute if you have changed addresses?
I have changed addresses (3 states away). Can I use this to my advantage somehow? We paid the charge-offs in order to qualify for a mortgage in our new state. Unfortunately, we had to settle for a stinky 8.875% ARM (YUCK!!). Our goal is to refinance after we've had the mortgage for a year. The problem is, these 2 MBNA accounts are keeping us down. Our scores have gone from the Mid 500's to the 620's except for Equifax. Even though the reports all look similar, EQ still has us in the 570's.
MBNA is reporting wrong since if sold they should report $0. That change alone would increase your scores, whether charged off or not. Were the CAs paid in full, or settled for less than full? Do you have any agreement from the CAs you paid to not report? Do you have documentation proving payment? If push comes to shove with MBNA, since these are in fact paid, and MBNA is in fact reporting erroneously, what is the worst that could happen?
Were the CAs paid in full, or settled for less than full? Thye were paid in full Do you have any agreement from the CAs you paid to not report? We didn't make any agreements with the CAs not to report because they have never reported. MBNA has continued to be the one to report throughout these long, grueling, 4 years. They stopped talking to us about 4 years ago, yet they report "lates" through the dates we paid the acccounts (8/04 and 9/04). One of the accounts didn't read "charge off" until we paid it off. It just doesn't make any sense to us. Do you have documentation proving payment? Yes, we have documentation from the CAs proving that the accounts are paid in full. I was saving them as a last resort because I really wanted complete removal. I was afraid that sending the documentation showing that the accounts were paid through CAs would prove beyond a shawdow of a doubt that the accounts were ours and therefore all the nasty marks would remain. I'm really at a loss here.
Sounds strange, but I sent a nutcase letter to Wells Fargo last year for reporting a balance to EXP along with saying it had been sold. I had nothing to lose as I had paid the CA and the TL was due to fall off at some point this year. You are in the same boat, you have nothing to lose by stirring the pot a bit. I kept my issue with them vague so they would have no idea what the heck I was referring to. I did tweak this particular letter by saying that they had "BEEN reporting inaccuracies" versus "there are POSSIBLE inaccuracies" like I did in my other two nutcase letters and it worked. They sent me a letter about 6 weeks later saying they would be sending letters to the CRAs to delete it. I think having it notarized helped too; I think that they, for whatever reason, think you are taking this very seriously. Hope it helps. To Whom It May Concern: I am formally requesting that you validate all tradeline notations you have submitted to the three major credit reporting agencies by Wells Fargo for me, Ice Siren for account number XXXXX. It has been brought to my attention that you have been reporting inaccuracies in these credit reports. I must demand that the validation I hereby lawfully request, be in the form of a notarized statement by a person with original knowledge of the debt as it was constituted and who can testify that the debt was incurred legally, was not subsequently disputed as a result of returned, faulty, or recalled consumer products, was not utilized as a profit-loss tax deduction during the period it may have been payable and was not claimed as a loss with any insuring entity during the period it may have been payable. Please be advised that I am not requesting a verification that you have my mailing address; rather, I am requesting validation, i.e., competent evidence that I had some contractual obligation sans consumer protection encumbrance which incurred the original claims associated with this tradeline. I have enclosed two documents which will verify my address: a photocopy of a state drivers license and a photocopy of a recent phone statement. Please know that you have 30 days from the tracked and confirmed delivery of this lawful notice to either answer these demands or to remove the associated negative tradeline notations from all of the credit reporting agency reports. Any other action may constitute evidence of your intent to abridge one or more civil or other constitutional rights. Please be further advised that continued unsubstantiated reporting of these inaccuracies to third parties may provide a basis for criminal complaints being filed in accordance with FDCPA, FCRA, and other federal statutes. I look forward to a timely and amicable resolution to this matter. Sincerely, Ice Siren My address NOTARY PUBLIC On this day personally appeared before me, ______________________, known to me to be the individual listed above and who executed the foregoing instrument and acknowledged that he or she signed the same as her or his free and voluntary act and deed, for the uses and purposes therein mentioned. Given under my hand and official seal, on this _________ day of ___________________, 200______. _________________________________ NOTARY PUBLIC in and for the State of _____________________ My Commission Expires: __________________________________________________
Thanks Ice Siren. I did send the nutcase for one of the accounts (the one that appears on both mine and my husband's reports). I wish I would have thought to have it notarized. Great touch! I think I'll do that for the other MBNA account that only appears on my hubby's CRs. I've never used the nutcase series. What do I do when I receive the greencard back from MBNA (the OC)? Do I need to send letters to the CRAs at that point? Thanks for your help. debtchoked
You know... I asked the same question and nobody answered so I left in all alone and it fell into place so I am not sure what to tell you! I would say leave it alone so you can set it up to send the next nutcase if needed. Wells was the only one I got a letter back on, the other two I had to pull the report to see what happened.
So, you waited it out for the 30 days, sent a 2nd letter and then sent a letter to the CRAs with all your proof (copies of green cards, etc.)? Reading the sample letters, I guess that makes the most sense. I've been dealing with this for so long, I guess I can wait another couple of months to FINALLY get it all straightenend out. We were forced to take a 8.875% 3 yr ARM back in Aug 2004. (My husband was transferred out of state). We're not really going to be able to do much with refinancing until 1 year is up (as far as I know), so I'll be patient and wait. I really appreciate your feedback, IceSiren. When I first joined this board (about 3 or 4 years ago) it was a lot more active. Now it's sometimes hard to even get a good response. debtchoked
