I have several OC's who sold my charge-offs so report the accounts at $0 balance. I've tried disputing but several keep verifying (BofA, Chase). I'm hesitant to try the nutcase letter since I never did actually pay them. Is there another strategy I can try for these stubborn ones?
How old are they? Have you sent them letters asking them to vaildate the amount they say you owe, the dates that they are reporting? Because you don't think that they are correct and you've moved and have your files stored elsewhere. When you disputed with the CRA's, did you dispute with the OC? If you did, did the OC submit a dispute notation on the tradeline? Bait them. Ask them if they have the original copy of the credit application stating the terms, etc. because you don't have it and the CA's won't give you any info. You'd really like to resolve this but you aren't going to pay something that you don't owe, so you really need some proof to have for your records. If this account is very old, chances are, they won't have the original application with your signature on it. If not, then they can't prove you EVER had an account or agreement with them. In that case, they have unlawfully reporting the account and have unlawfully sold the account to a CA and have therefore, they have made MANY violations to the FCRA, Fair Billing, and the FDCPA among other federal statutes??????! Maybe this will help a little. Keller
I guess I'm just worried about "sleeping dogs". Actually if/when these were actually sold by the OC either the CA didn't report it or else I've since had them removed through disputes. I suppose that's my dilemma. The OC is reporting as $0 because they were sold, but there are no CA's reporting that I owe anything. So maybe I should just leave it? I'd sure hate for the OC to go back and see that I never paid anybody and try to start collecting again. They are 4-5 years old.
keller, do you know of any success stories using this plan of attack. I think I shall use it myself, thanks gilliner
Laurie, what is the SOL in your state? I had the same situation with an old charge-off. The CA wasn't reporting and the OC was. The same situation as yourself. You spoke of "sleeping dogs", and I understand your concerns, but here's what I did to use this information to my advantage. I took the chance that the OC didn't have any of my original records on this account and only had computerized data, which is basically no proof of ANYTHING. You and I "both" know that things can EASILY be re-created via the computer so unless I have some sort of original documents to back up the computerized data. . .one has little proof of anything. I spoke with the OC and told them that I needed proof of what they were reporting on this account which was the basic story I described above. They told me that they had sold the account and to contact the CA. I then said, that's the entire problem. As far as my recollection, the date of activity that led to the charge-off or collection status on this account is way over what Federal law allows for this account to remain on my credit report. That's why the CA is not "still" reporting it. However, YOU are, which is in direct violation of the FCRA. Furthermore, if you are reporting information that I feel is detrimental to me, then I have every right to demand that you furnish proof to me of the fact that what you are reporting is "CORRECT" & "ACCURATE". Call their bluff. They will screw up. The odds are definitely in your favor. **gilliner . . . I am in the process of sending an intent to sue letter to an OC. They have several violations that I have recorded with the last one being that they admitted verbally that they weren't an attorney and didn't know the law and that they were going by the date that the account went into collections which was 240 days after it first went delinquent. WRONG! Even prior to the update on the FCRA, they were only allowed 180 days after the FIRST date of delinquency that led to the charge-off or collection. As I learn more and more concerning consumer rights and research and observe, I have learned that the OC's, the CA's, and the CRA's have quite a bit of accountability that they are bound by. You know, most of us who have gotten ourselves into these situations by "owing" creditors, etc. have gotten there because of extenuating circumstances that have happened in our lives that we couldn't foresee. Layoffs, illnesses, deaths, etc. I know that when "I" was going through my personal trials, I was devastated and I had to put my creditors on hold until I got myself into a position to pick up where I left off. My first priority at that time was NOT to keep records of the horribly reminding letters that I received from my creditors at that time. I was already humiliated and depressed enough without having to be constantly reminded. Case in point. . .People are notorious of taking advantage of people when they're down and I am NOT going to pay someone I don't even know, an amount that I am not ABSOLUTELY postitively sure that I owe, without PROOF that I owe it. If these creditors really have the proof and they really want to get paid and quit wasting my time and their time, then I would think that I would have gotten the proof in the mail within the 30 days after they received my request for proof or validation. They didn't. I am sorry,. . . that does not make ANY sense to me! If they've been sending letters trying to collect on a "valid" debt, then one would assume that they would want to get paid on the "valid" debt. So, why wouldn't they just take a moment and send proof so that they could FINALLY get paid? Because, perhaps the debt that they are reporting isn't TRUE and COMPLETELY ACCURATE??! . . .MOST LIKELY!! I am not going to continue to allow them to break the law at MY and MY FAMILY'S expense. Those are our rights. Good luck to you both. Use whatever path YOU are most comfortable with. Keller
I second that amen! Thanks so much Keller. I will absolutely try your ideas. The SOL in WI is 5 years, BUT I lived in MN when the debts were incurred and it's 6 years there. So that part of it could be tricky. I can't seem to find a definitive answer on which SOL applies.
Either SOL can apply. The OC can sue you in MN, if the 6 year mark has not passed yet. They cannot sue you in WI, since from what I am deducing from your post above, that the 5 year mark has indeed already passed.
I have a charge off from BofA that was sold as well. I paid to the CA b4 I knew any better. I started disputing it recently. I sent the nutcase letter to BofA. And guess what? They sent me a copy of my SIGNED APPLICATION FROM 1995!!!!!!!!! They also sent me all bills(copies) and payment records since 01/1997, until the time the account was charged off. OUCH!!!!!!!!
Ouch is right!!! That BofA is proving to be extremely stubborn so maybe they do have all the stuff on me. The thing is, it actually was another card company and BofA must have bought them at some point. (For the life of me I can't remember the name of the original company though. Could it have been Nationsbank or Associates? Those are the only ones I can think of that I had that might be different).
It might have been NationsBank. That's who I originally had an account with. They merged with BofA in 99(or earlier) I think. At that point BofA sold my account to First Credit Solutions(MidFirst Bank)
I wouldn't group Banking entities in with Credit Card companies, etc. You are right, Banks seem to keep EVERYTHING!! ( They are in a whole different ballgame. I know that had to be a BIG "OUCH". I feel for you. Sorry. Keller
Ouch is right...lol. I had the same exact thing happen. Fortunately, I wasn't saying definatively that the account was not mine...just that I did not recognize and if it was mine, they were reporting it incorrectly because it could not have been from 1998 as I have all my records from the end of 1996. Sure enough...*I* was right, but was so glad I hadn't based my case on them not having the documentation. L
I would also like to see how this turned out. I have an account from Sears from 1999 but they sold it to a CA. I sent a validation letter to the CA...they sold it to another CA...then the second group sold it to yet another CA. Right now, I don't have a CA reporting the debt and I only have Sears reporting on two reports. My question is...can an OC sue you for a debt that they don't even own any longer? I've been thinking about going after validation with Sears, but I have to be careful because the DOLA is only 3 years ago. Any ideas?
Just thought I'd mention that I too have not had much luckgetting BofA (Nationsbank) tradelines deleted from my credit reports. They have "verified" stuff from 1997. Ditto for Chase.
BUMP + I'm in the same situation. Many OC sold the account and I need the original sigened cardmember agreement and statements. One OC says they don't have that information anymore becuase they sold the account off. They MUST still have this info somewhere. How can I get this from the OC's ?
I had a bunch of old closed acounts that I never remember having. I sent a bunch of valdation letters first class mail. none of the companies that did reply offered any signs of validation. I had 2 companies that did not even reply and then could not offer any proof to my state AG that the items belong to me, both items had been removed. The companies that could not offer any proof removed the items after BBB complaints.
I am working on the same thing with Chase. They sold to CA. CA hasn't reported but they are trying to collect. Sent validation letters to both on 9/24. Will see what happens.
