Ok, I've done enough searching... From what I gather, debt purchasers/collecters (CAs) have the power to have the OC's TL removed, right? So, if I negotiate a settlement-for-deletion type of agreement with a collector who owns the debt, the collector can remove his TL and the OCs chargeoff notation? How can I find out if a debt was purchased or assigned? And how do I ask a CA something like this without looking too 'informed' about credit repair and my rights? (i'm playing the dummy role for now in hopes they violate.) thanks.
I don't know where you got that info, but that is incorrect. If business A reports info to a cra, business A is the only one that can change or remove that info.
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 """"```--~~~~~~~~~--```'""''' Ps Do a search on WestCap
i did many searches, and I did come across that exact quote by westcap. the thread is here: http://consumers.creditnet.com/stra...6211&highlight=purchase+servicing+transaction but I'm still so confused!!! any other input on this? If a CA has purchased a charged-off CC debt, and they settle for deletion, and it is true that they canNOT have the OC TL removed, then how in the heck would I get it deleted? This is where nutcase comes in I suppose... help!
~bump~ LKH, what are your thoughts on what westcap claims? and jlynn, I'm sorta dense...what do you mean? oh and again, How can I find out if a debt was purchased or assigned? And how do I ask a CA something like this without looking too 'informed' about credit repair and my rights? (i'm playing the dummy role for now in hopes they violate.) anyone else have any ideas? thanks.
The concept is that by selling the account, they allow the buyer to act as their power of attorney, and be able to send a letter to the CRA saying. "As XYZ Co's power-of-attorney for this tradeline, we request that you delete this tradeline belonging to XYZ Co from John Doe's credit report." The caveat is that the POA claus has to be in the sales agreement, it may or may not be in the specific sales agreement between your CA, and OC. However, in cases where the account # is the same I've usually been able to dispute the original and the duplicate from the CA as a duplicate, and get rid of the listing(s) that way.
And just how in the heck would one find out this info? Would they tell me if i simply asked? thanks so much for the info jam.
If a CA has purchased a charged-off CC debt, and they settle for deletion, and it is true that they canNOT have the OC TL removed, then how in the heck would I get it deleted? crowmom ================= That's why no delete no pay. All they have to do is not verify when you dispute with the CRA. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
