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It's been awhile, hasn't it....

Discussion in 'Credit Talk' started by hurricane5, Jul 10, 2003.

  1. Jul 10, 2003 #1
    hurricane5

    hurricane5 Well-Known Member

    Hi all,
    I've been busy with work and a new baby, so I haven't been on here much, but now I have a problem that I would like some help on.

    - Wife and I had a joint bank account
    - I started using my CU again after I got my truck loan. Everything was Direct Deposit into the CU
    - Wife still used joint acct, and basically let it go negative - so they closed/charged off the acct (small amount ~ $300.00)
    - The bank put a collection notation on our CRs
    - I didn't find out about any of this until I got a letter from a CA (Accounts Receivable Management, Inc)

    I'm planning on sending a validation letter to the CA and want to get the bank to do a pay for deletion.

    Any thoughts on how to fully proceed?

    Thanks!
     
  3. Jul 10, 2003 #2
    SLOYAROLE

    SLOYAROLE Well-Known Member

    Wouldn't this go to Chexsystems instead...? The debt seems to be legit, but good luck anyway. The best approach would seem to be a nice letter almost begging them to remove when you pay.
     
  4. Jul 10, 2003 #3
    Hedwig

    Hedwig Well-Known Member

    I was thinking the same thing--this sounds like Chexsystems. Then I thought that since it's with a CA, it's a legit collection and the CA can put it on the report.

    Maybe you could ask the bank to pull it back from the CA and you'll pay them. The bank doesn't have it on your report, the CA does. So if the bank pulls it back, the CA no longer has the account and couldn't report it. If they try to continue reporting, send them a validation.

    The more important issue to negotiate with the bank may be deletion from Chexsystems.
     
  5. Jul 11, 2003 #4
    RichGuy

    RichGuy Well-Known Member

    My opinion would be that, if you already have a CU checking account that suits you, ChexSystems is not a big issue.

    The collection reported by the CA is vastly more important. You're likely to be applying for a lot more credit accounts than checking accounts over the next 5 to 7 years.
     
  6. Jul 11, 2003 #5
    Hedwig

    Hedwig Well-Known Member

    That's why I suggested seeing if it could be pulled back from the CA. Then they don't have a valid debt and couldn't report. And if they keep reporting a validation would probably take care of it. I just thought if the bank pulled it back, that eliminates the CA. Now you get the bank to agree to no Chexsystems and both problems are solved.

    By the way, welcome back, Hurricane5.
     

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