I sent a letter to Sears/CBSD offering a payment in full for deletion. It has been 30 days and there has been no response. Today I called Sears to inquire who I should send the debt settlement check to and I was told to contact CitiCard. I called CitiCard and they advised me that the account has been sold to Resurgent Capital Services. (They are not reporting on my CR). So, now I do not know what to do. Looking back on my records for Sears, I did get a letter from Resurgent in Feb, but I ignored it as I was going to settle in full with Sears. Sears is NOT reporting the account as sold/transferred. Should I just continue thru with the RE process? And if I do settle with the CA for deletion, can Sears continue to report the account as a charge off? Thank you
My recomendation would be to: #1) call Sears/CBSD again. Try to get a superviors on the phone, beg, plead, cry whine, walk on water, whatever to talk them into bringing the account back from the CA. If it was SOLD (as opposed to assigned) it may be difficult or impossible. Remember, often the only way the OC can recall a sold account is if it was sold in error. If that dosent work, I would: Send an immediate DV letter to Resurgent. If it has not yet appeared on your report this MAY (not will but MAY) keep it off for another few weeks. As it is outside the 30 period, they can report while they valadate. Also be prepared for your phone to start ringing off the wall. Again since you are outside the initial 30 day period, they are not necessarily required to cease collection activity. The Sears tradeline on your account may just not have been updated yet, it could be reported as a chargeoff, balance due $0, sold/transfered. They MAY just cease reporting on thier own now that the account has been sold, but I doubt it. They can report the account for the full 7 years, the CA will most likely have little or no control of this. Thats just my $.02 and due to excessive interest charges due to a poor credit rating its only worth about 1/3 of that. Good Luck.
Accord and satisfaction would be futile now with respect to Citibank insofar as they cannot accept payment on an account which they have sold the payment assignment for. Dispute the Resurgent account tradeline when it appears, dispute the debt with them directly, and also, dispute the Sears tradeline. It is unlikely but, you may get Citibank to fail to mark the tradeline as being in dispute if you dispute it often enough. While this would be a somewhat dubious claim, it is your only hope regarding the Sears tradeline.
