I have been the silent reader who never posts any questions but I finally decided to sign up after scratching my head too often............. I hope someone can help and has time for a long story...A collection agency filed a stipulation of judgement with the court, advising I owed their client x number of dollars stemming from a loan unpaid for six consecutive months. An elaborate summons was given to me that required my immediate response. I do not detest the debt but there are several good reasons why the debt went unpaid so long, though I do not know how much weight they hold legally. The financial obligation to pay was verbally agreed to be handled by my parents as a 'gift' while I financed my wedding. Unfortunately, they did not fulfill this, as I found out too late (the loan is in my name exclusively). Secondly, the creditor did not send me monthly bills to 'remind' me of the debt. I only received the collections notice, then soon after the summons from the court. I agreed with the collections agency to pay the loan off in 8 months (this is in fact earlier than the original loan maturity date if still in good status). The agreement was that I would pay the bill and in return the collections agency would dismiss the stipulation of judgement once the last payment was cleared. We did not discuss anything related to my credit report, big mistake #1. However, the creditor, not the collections agency, was reporting negative data to the credit bureau. When I checked this, the loan was charged off. The collections agency would only report back to the credtor and foward the monies to them. During the course of the payment schedule, the collection agency was not forwarding the monies to the creditor on time, sometimes letting 1-2 months slip by. When the collection agency received my last payment, they acknoledged receipt of it but it took 5 months for the check to be processed. Meanwhile, my credit record still shows a chargeoff and a substantial amount of monies owed. Is there anything legally I can do about the fact one of them held onto this check for so long, and is there some loophole to remove this negative, and currently incorrect data from my report based on the above circumstances? Thanks for your patience and help in advance.
I'm in somewhat similar situation. I never received the bills/statements so I did not know when to start paying them. I paid the collection account within a week after hearing from the collection agency. I never talked about my credit report as well. I had no idea I could have negotiated. Anyway, mine is currently being reported as settled less than balance full which is not true. I disputed this account as not mine. It got verified. Now, my next step will be to send a procedure request to the CRA and a validation letter to the OC. I'm not saying you should dispute it as "not mine" with the CRA, but if you decide to do that make sure you get your old addresses off of your credit report first. That way they cannot use the old addresses as one of the factors to verify the account. Good luck!
Thanks for the responses, I will consider taking any previuos addresses off my records with the CRA. I guess I should probably 'simplify' my question more succinctly. Do I have any reasonable, lawful pursuance I can take as a result of the CA or creditor not posting and thereby delaying my last payment to a charge-off account for 5 months? They acknowledged receipt of the payment and afterwards advised upon clearance the matter would be closed but did not make the deposit until recently. The status on my credit report has not changed between this period. Tks
It is currently a charge-off but should have been updated since my last payment 5 months ago. The OC handed the matter over to their CA (officially an attorney's office) but only the OC was updating the CRA records. The OC has not updated my records since 9/02, but certainly this cannot be a paid judgement though the intent was there by a threatening summons if I chose to not follow-up. The CA advised upon payment a 'stipulation of dismissal' would be filed with the court. I have not been given copies of this record being filed.
I have gotten 4 paid collections successfully deleted. I really suggest you read what I did from my former posts. I don't want to spend another 5 minutes typing it all out, but it works. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=182001#post182001 Hint: Don't use the FDCPA anymore, you want to use the FCRA.
