For some additional insight about Bill Bauer, look up the thread "Bill Bauer is a Fraud". I started that thread. It still amazes me that Bauer bills himself as the consumer/debtor's friend but he is a regular contributor to the boards at the CA's web site www.collectionindustry.com
very interesting... oddly enough - i had a question at work today similar to one of the letters. (why are all my questions medical related ??? why?!) $230.00 med charge off. cust sent validation. replied w/computer printout. cust claims not his, but can't get OC to budge (never went to collections) its 4 years old...SOL is 6 years. customer wants to know if company got tax write off for a % of that, can that be subtracted from the amount owed.
i think so! i had never thought of it and twice in one day it is referenced! whats the odds! how would one find out if they did get a tax break?
Not an accountant, but even if they got a tax deduction as a business loss, once you pay them, it then again becomes income, and they have to pay taxes on it.
Flyingifer - I had never visited collectionindustries.com before, and am feeling pretty enlightened after reading through some of their posts. This is pretty ammusing: There are a few ways to reage an account. Let us say you stop paying sears in the year 2000. They try and collect for awhile and sell the debt in 2001 to a collection agency. The collection agency places the tradeline on your credit report and by law must report the date of last activity(when the 7 year reporting sol starts) as your first missed payment you never caught up with sears(the year 2000). However, instead the collection agency tries to break the law and make the date of last activity the date they bought the debt. The bad CAs will then tell the person that the SOL starts over each time the debt is bought as it is a 'new debt'. The consumers often do not know the laws and believe them. When the consumer does know the law the CA gets creamed in court. The 2nd reaging is when you pay off a bad debt and the CA for reason I will never understand changes the date of last activity(reporting SOL) to the date you made your payment. Although some of the collectors here scoff at the notion of this illegal move it happens and happens alot Once again the CA is asking for an ass whuppin in court if the consumer knows the laws. Hats off to kjowen. He understands how the process works. 7 years is too long for a paid collection to destroy your record and yes even at 6 1/2 years it can be very difficult to get a loan or good interest rate. Even worse are medical debts or debts incurred due to job loss or other tragedies. In no way are these a reflection of your true credit history so once paid they should go bye bye. In the last 2 years I can say that the #1 thing a consumer wants with payment is deletion. There is nothing in the law that says it is illegal to delete. IT just says it is illegal to misreport a tradeline. If you want something you have to give something in return. Be human, make the deal, put it in writing, and both members go home happy. I like where they say "The CA is asking for an ass whuppin in court inf the consumer knows the laws." That tells us how much usefull information is gained here. Thanks guys! Brian
So what would those of you more experienced in this area recommend when a CA does this with a debt. I have one currently, that shows 120 days+ past due/with a DOLA of 12/2003 when in fact the real DOLA is like 6/2002, it's just that the CA purchased from the OC in 12/03. Should I ITS them or just file?
If you click the "Retrun to forum" (yes, it's misspelled on the web site--that's Bill for you, never could spell), you'll find that he has actually taken this from the collectionindustry.com site. He seems to be very good at using other people's work, such as Flyingifr's.
Re: Re: intresting This is excatly why I stuck my "symbolic copy right" on my site. Thought it might discourage the behavior.
customer wants to know if company got tax write off for a % of that, can that be subtracted from the amount owed. jenz ==================== Anything paid to the creditor has to be deducted from the account balance. Make no difference where the money comes from be it the IRS Insurance uncle Nellie aunt Louie or the debtor.
