Remember Nextcard? Well I had trouble with them in 2000. They no longer exist, but the derogs on my report do. If I asked the CRA to validate, would it disappear?
It might. Most of Nextcard was sold to Merrick Bank, don't know why it is still reporting as Nextcard. When is the DOLA?
I think the other entity was some bank that did the collections of the accounts that Merrick did not buy. Best regards, Mirage
I had a bizarre TL w/Nextcard - they were reporting twice. Since there was no CL AND the balance was reported twice (no problems w/the account), I was worried about my utilization being thrown off. I called TU and their response was - "Nextcard is out of business. I'll just delete them". It was not so easy w/EXP and EQ, but if it's TU you're talking about, just give 'em a call.
DOLA was in 2001. When they went out of business my account was closed, so I am assuming that no one took over their accounts. i think i will ask for validation and hope that is drops.
NOT US... LOST $10,000 & $18,500 PAID IT OFF BEFORE LAST DAY OF NEXT CARD...BUT IT WAS CLOSED FOR US... Our accounts were NOT worthy of sale...
Nextcard created a little nightmare for DW. When we discovered they were going out of business we thought there was a potential for a nightmare with her $551 balance, so we immediately paid it off. Wrong move. Nextcard never reported it paid and since Merrick Bank didn't get that account (because it had a zero balance) they wouldn't/couldn't help get it off her CRA reports. Two CRAs dropped it eventually, but it still shows on her TU consumer disclosure "suppressed pending credit grantor update". The lesson is if your issuer goes out of business, let the account go to a new company before you pay it off so that there is somebody who will have to work with you to remove any inaccuracies in the reporting of the account. P.S. -- If Merrick didn't buy the NextCard accounts that were in default, you can bet your bottom dollar SOMEONE did ... and folks with balances will be hearing from that SOMEONE, whoever it is.
