Orig Creditor and Collector...?

word of warning dont fall for cap 1 tricks they re-age the debt by offering you a card to transfer the old balance over.

if Cap 1 aquired the acct from MBNA ask them for verification. a TL can not remain on your report for a OC or CA that no longer has your acct as this is considered inaccurate info which can be disputed with the CRA and deleted.

I have done this myself .

good luck

 

Did westmoreland actually get assigned the account, or did they just send the unsolicited "GREAT NEWS" YOU'RE PRE-APPROVED! because of your charged-off XYZ Co, account.

There is a major difference.

If you only received the unsolicited offer, C1/WA is not acting as a CA (DIRECTLY), yet -- indirectly they are, and they only act as a CA (DIRECTLY) for the account once you accept the credit card offer. On the offer somewhere should be the name & address of the true collection agency.

What makes this fun, is WA does get accounts on its own that aren't through the C1 offers, so there is no hard-and-fast rule.

If its the unsolicited offer, then you need to send the validation letter to both WA (C1 is who actually signs for the certified letter to the WA address), and the CA which is listed on the solicitation.

 

in my experience I disputed the MBNA TL with the CRA & stated they no longer had the acct , my report said acct sold & transferred. if that was the case I agrued that MBNA could not continue to list an acct they no longer had I was able to get the TL deleted.

Then, I sent a request for validation to westmoreland who apparently had no proof of a signed CC application all they had was my ss# and address. needless to say no proof = no debt to collect. this Tl was also deleted after a fight and reporting them to the BBB, AG.

there are so many knowledgable people on here that have the most wonderful advise, who may have a better way of pursing this matter, I was just sharing what worked in my experience.

good luck.

 

I have a question?

Can a OC continue to rpt a charge of it has been purchased by another lender? (ie Direct Merchant's Bank sold cc debt in 9/2000 to PRA credit rpt shows that OC reported to CRA as of 10/2000. Can they do this when they sold it in 9/2000. I am soo confused. According to PRA the debt was written off by OC 5-31-1999 and they bought it in 9-2000. They are also reflecting this charged off account as and open collection account. What are my options?

 

I have a question?

Can a OC continue to rpt a charge of it has been purchased by another lender? (ie Direct Merchant's Bank sold cc debt in 9/2000 to PRA credit rpt shows that OC reported to CRA as of 10/2000. Can they do this when they sold it in 9/2000. I am soo confused. According to PRA the debt was written off by OC 5-31-1999 and they bought it in 9-2000. They are also reflecting this charged off account as and open collection account. What are my options?

 

I have a similar question (not trying to step on your toes). If you pay a charge off via collection agency, does that mean that the OC has to stop reporting it?

I recently paid a CO to a CA for a CAP1 account. The CA said that Cap1 would not remove the tradeline for 6 years and 11 months from last activity. They had no control over it.

What can one do after payment to get rid of the orignal TL (besides disputing monthly and hope they do not reply?)

Thanks !

Brian

 

No. The OC can continue to report the charge-off. The CA has no control over OC's reporting.

Make sure and remove your addy linked to the OC's chargeoff before disputing with CRA's.

Also, do a search on a poster named dancerat. She had a successful method of disputing paid chargeoff's with OC's.

May also want to do a search on another poster, dixiedrifter, "cya manipulation letter" for paid c/o's.

 

In regards to PRA I would request Validation in writing by CMRRR to actually see if they have a legal right to collect the debt.

I had a CA contact me and try to collect a debt in which they did not even have the authority to collect it as it was returned to the OC( by the way this is a violation of the FDCPA)

if this is the case the must remove their TL from your report no CA can report a debt that they no longer have.( FCRA violation)

you can also write to the OC and sent it CMRRR and dispute this acct and request verification they have 30 days from the date of your letter , they may try to ignore you but they must flag your acct disputed with the CRA if they dont its a violation under the FCRA.

they usually will respond as I said before always dispute your acct with the CRA first sometimes the OC or CA dont respond and the CRA delete the acct.

if it goes beyond that you can file a compliant with the BBB or check with your local secretary of state to see if the CA is even licensed to do business in your state if they are not write a letter this will usually cause them to back down and give you a letter of deletion due to penalties involved.

 

about CAP 1 paid C/O

contact the CRA and show proof that this acct was paid. they must update it to show that it is paid or its a violation under the FCRA for reporting inaccurate info.

if that doesnt work, file a complaint with the Richmond VA BBB or the Federal Reserve in Richmond and explain your story they regulate Cap 1
this may resolve your issue.

 

sorry misread your question

I had an acct that was purchased by a CA from the OC I disputed this with CRA as inaccurate info and stated that the OC no longer had this acct to collect so how can they report it. It was deleted.

Another funny thing is the OC sold my acct knowing it was past the SOL to collect to the CA so when I requested verification from the CA they couldnt provide it and had to delete the acct.

reason being the OC said they couldnt find the proof due to the age of the debt but they really screwed the CA by selling an acct they knew was uncollectable in an attempt to recover their losses.
lol

I sent a written dispute to the CA at the same time I disputed it with the CRA that way if the CA didnt provide the proof and reported the collection it was a violation for no verification of a debt and continued collection activity also they must flag the report disputed another violation if they dont.

 

Every so often a bill is received late according to my monthly statement & i know i sent it out in plenty of time in that period--the late charge is out of sight on some companies--the person on the other end will give you the story that they can remove it now but in the future you have to eat it.What is the ruling on this matter & do they have the right to do this if your up to date on your payments.Im trying to avoid sending it return receipt as it is up around $4.Is there a solution dealing with these companies or banks?am I beating a dead horse?

 

Every so often a bill is received late according to my monthly statement & i know i sent it out in plenty of time in that period--the late charge is out of sight on some companies--the person on the other end will give you the story that they can remove it now but in the future you have to eat it.What is the ruling on this matter & do they have the right to do this if your up to date on your payments.Im trying to avoid sending it return receipt as it is up around $4.Is there a solution dealing with these companies or banks?am I beating a dead horse?

 

The ruling on late charges

Every so often a bill is received late according to my monthly statement & i know i sent it out in plenty of time in that period--the late charge is out of sight on some companies--the person on the other end will give you the story that they can remove it now but in the future you have to eat it.What is the ruling on this matter & do they have the right to do this if your up to date on your payments.Im trying to avoid sending it return receipt as it is up around $4.Is there a solution dealing with these companies or banks?am I beating a dead horse?

 

The ruling on late charges

In regards to your question is your acct with Cap 1 or another CC company?

if its cap 1 they have class action lawsuits that have been filed for the same reason. they have been known to change the due date w/o given written notice to the consumers. so that they can collect a late fee

also they have been caught not posting payments when they are recieved for days later that way they can charge this fee.

the only way to ensure proper credit w/o a late fee is to CMRRR which is a pain, but this way they can not dispute your payment as late as you have proof when they recieved it.

 

The ruling on late charges

ck out ripoffreport.com

 

The ruling on late charges

No. The OC can continue to report the charge-off. The CA has no control over OC's reporting
cinderella |
><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
NNS:
<< When we (Re CA) make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS.
WestCap
===========================
Some one was asiking a while back about getting the oc to delete in addition to The CA.
Don't know who the poster was or on what thread they posted but here is your answer !

This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS.
The END ************************* LB 59

 

The ruling on late charges

hmmm.

Is this referring to the westcap endorsement? You know, one of those sneaky restrictive endorsement deals? Because if it is, it wouldn't work. The Ca wouldn't be able to force OC to delete or alter reporting.

Never heard of situation where CA has the legal right to request OC to change a correct reporting.

oh btw, hi lb