Ive been working hard at repairing my credit and have seen 50+ point increase across the board but I have a few questions. 1) I had two HSBC accounts go bad. I disputed to the CRAs with no luck. I received two letters from HSBC. One stated that the account was sold to Diverse Funding and the other just says that the account was sold but does not list to a company. There is no CA reporting the debts on my reports. HSBC has the balances listed as zero and all state something similar to charged off, placed for collection or sold. Is there any way to get these entries deleted? 2) I am having a hard time with Tri-State Adjustments Inc. I dont know how these debts got placed with me. It appears to be linked to a Speedway gas station customer loyalty card. At one point I linked my bank account to my loyalty card and used it to pay for gas. There are now 6 separate collection from TSA on my reports. I suspect my ex used the card and now Im stuck with this mess. I sent DVL on 2/14. On 3/12 I received a letter listing a total amount and a printout showing what appears to be a screenshot from their computer of my account. What is my next step? 3) Applied bank credit card went bad in 2008. Experian lists the account as closed, charged off, past due $984 and credit limit of $350.Its being reported as KD as recent as Feb 2012. TransUnion lists as closed, charged off, past due $984 and credit limit of $400. How do I proceed with this one? 4) First National Bank credit card sent to MCM for collection. Got a letter in response to DV letter stating that they are investigating the dispute and want me to send supporting documentation such as proof of payment, copy of fraud report, copy of original contract or proof that I am dead. Im still fairly new to all this but isnt the point of the VL to get THEM to send me this information. What next?
Welcome to Creditnet jayeggs! My thoughts are as follows: 1.) It sounds like you believe the OC is reporting these correctly on your credit reports. If not, dispute any incorrect or missing information through the CRAs first. Have you received any communication from the CAs yet? 2.) If you believe they've properly validated the debt and have the right to collect payment from you, then your next step is to negotiate payment. How old is this debt? 3.) Is this debt still with the OC? Once again, dispute anything that appears inaccurate through the CRAs first. 4.) Yes, they need to respond appropriately to your DV letter. In the meantime, are they still reporting this on your credit reports?
Thanks for the reply! 1.) It sounds like you believe the OC is reporting these correctly on your credit reports. If not, dispute any incorrect or missing information through the CRAs first. Have you received any communication from the CAs yet? Yes, they information they are reporting is correct. I received letters from a couple different CAs back in 07-08 but there is nothing showing on my reports. Would I have any luck sending them a letter asking to remove the entries since the debts have been sold? 2.) If you believe they've properly validated the debt and have the right to collect payment from you, then your next step is to negotiate payment. How old is this debt? This debt is within the last 18months. I dont believe they did properly validate since all I received was a printout of the amounts from their computer system. What would be considered properly validated? 3.) Is this debt still with the OC? Once again, dispute anything that appears inaccurate through the CRAs first. This debt seems to still with the OC. It doesnt seem that they sent it to any CA. Its from 2008. Should I contact them to try to work something out or what other steps can I take? 4.) Yes, they need to respond appropriately to your DV letter. In the meantime, are they still reporting this on your credit reports? They are still reporting. In the letter they sent me it says that they have updated the CRAs to say it is being disputed.
1) Sale of the debt doesn't delete the old tradeline. Conceivably, you could have up to three tradelines for the same account. OC sells account to JDB, JDB assigns the account to CA. Each one could list the tradeline because each one does have a history with you over the past 7 years (give or take). Now, JDB and CA both must report the DoFD accurately the same as the OC, but all three can list the same account. 2) *I* would send a letter saying, excuse me, the Federal Trade Commission has said that printing out a screen from your own records doesn't constitute validation. FDCPA Staff Opinion: LeFevre-Wollman Print out a copy of the FTC letter, and tell them (If they had a payment demand along with the 'validation', or since) to put a check for $1,000 in the mail. (yes, *I* am really this blunt. ) 3) I would think ACS still has the account, just based off of information that is in a FTC opinion that they asked for, basically ACS acts as an in-house servicer/CA for their accounts. 4) NOW is the time to try to dispute the account with the CRA, if they send a previously verified response, you may have some fighting to do, but if they verify with the CRA, they've performed continued collection activity. (Do not pass go, send me $1,000!)
