Hi everyone, I have been lurking here for a few weeks trying to absorb information and I have read 3 "credit repair" books in attempt to clean up my horrible credit. I would appreciate any expertise from the board veterans! First a quick background: I'm a 31 year old Wife and Mother to a 18 month old little boy. 8 years ago my Dad was diagnosed with late stage cancer and as his caregiver, I let everything else going on around me fall apart, specifically my finances. After the damage I did to my credit, I assumed I would just have to wait 7 years and my credit would fix itself. Obviously it never did. I just dealt with crappy interest rates and wondered when my credit would get any better. In 2009 things were looking up and I made an attempt to re establish credit. Then my Husband and I both lost our jobs within 3 months of each other. I again had no choice to default on some accounts. We had to keep our home and have food on the table. The statute of limitations here in SC is 3 years. Many of these debts are past SOL. Here is what I'm dealing with. I'm overwhelmed!! HSBC/Bon Ton ( last reported 2008) before I had a plan, I disputed this using an online form through Equifax. They responded last week giving me the name of the new CA that bought the debt. They also started reporting this debt again on my CR after my dispute. Fst Premier- ( last reported 2009) TA & EXP show this as PAID. EQU shows as Derogatory. AMCA (CA for LabCorp last pmt 3/11. REPORTING) Midland Funding (CA for Imagine MasterCard, last pymt 9/09. REPORTING) Calvary (CA for HSBC acct, last pymt 2010. REPORTING) Natl Recovery (CA medical) went into collection 11/08. REPORTING) BUR COL RECO ( CA for The Good Cook) date reported 2/23/13 *** This one is not even mine. I looked it up online and it's some book club or something. Never ever signed up for this! *** PMAB SRVC (CA medical, went into collection 2010 REPORTING) IC System ( CA medical, went into collection 2009 REPORTING) Eastern Acct System ( CA for Comcast cable went into collection 2/2007) Judgment 8/2008. TU and EXP reported as SATISFIED. EQU lists it as just "FILED" how do I fix that? So, should I send Val letters to all? I have some funds that would allow me to settle in exchange for deletion. Thanks in advance for your time and precious advice!!!
For BUR COL RECO, I would send a DVL. If it's not yours, it should be removed quickly as the OC won't be able to provide the CA with any validation of the debt. Also considering this is a very new account, it would also stick around the longest if nothing was done about it. For any that are not past the SOL yet, you may want to wait till you hit that point, especially if the debt is more than you can handle. For any that ARE past SOL, you can start off by sending a round of DVLs to the CA's and see what drops. The older the account the better. The medical collections -- you could check to see if the accounts (albeit very old) are still with the hospital/doctors, and if so try negotiating a deal with the OC to pull the account back from the CA in exchange for full payment if DV comes back. Eastern Account System, this account will just fall off in 8 months. You could send a DVL to them, dispute with the CRAs shortly therefore and hopefully given the account age they just delete. Otherwise if they somehow validate, you're well out of the SOL, and just wait till Dec/Jan and dispute with the CRAs, would probably fall off a bit early. Anything you mail to CA's be sure to send certified. Don't bother talking to them on the phone. Also, you want to go by the DofFD, not necessarily the date last reported to figure out the SOL and when these accounts will drop off. If you last made a payment in January 2009, you would of been past SOL in Jan 2012 and it would fall off you reports in Jan 2016.....NOT 3/7 years from the date it went into collections or date last reported. Welcome to the board.
Mindcrime, thank you so much for taking the time to respond to my post. Your advice is much appreciated! I will let you know how it goes. Thanks again for your kindness
Also, with the accounts that are past the SOL. After you request validation, and whether or not they provide validation, I would send a letter telling them that you intend to sue them for misrepresenting the amount, character, and legal status of the debt. I just posted the information that this is based on in a thread of its own. But basically, they're misrepresenting (in an attempt to get you to pay, or promise to pay) the legal status of the debt; if you knew that there was no legal status to the debt or that you could actually cause yourself to be sued on a previously SOL, you would probably not offer to pay. If it's good enough to net the U.S. Government $2.5 MILLION, it's good enough to net you, $1,000.
Thanks Jam, I just read your Other thread regarding this. This is VERY interesting. So, after I send the DVL, and I send them another letter threatening litigation, I guess that would be my leverage. I could basically demand deletion. I was thinking I would offer to pay the debts past the SOL just to negotiate a removal from my CR's. Is that what you would do?
It gets their attention, if your goal is the removal, it may provide a big stick to get the removal. If you want the cheddar, it could be your cheese bar...
Haha...I love cheese, cheddar in particular! So, I got a collection notice in the mail today from a collector for original creditor, Macy's. I KNOW this debt is ancient, like 10 years. I scoured my credit reports, it's not even on them! I wonder how I should word my letter to them....misrepresenting, SOL...and make me a settlement offer or I'm suing? LOL
Anywhere on the letter does it explain that because of the age of the debt that the CA will not sue you or report the debt to any CRA?
Nope. Your typical "This is an attempt to collect a debt and any information will be used for that purpose. Unless you notify us within 30 days that you dispute validity of this debt, we will assume debt is valid. Etc..." They weren't sarcastic or threatening in nature as many are, they offered to work with me on a payment plan...but still. They have no legal right at attempting to collect
oh, and something else I found shady...there is no date anywhere on the letter, not even a postmark on the envelope...almost like they don't want the date documented.
You'll find that with those business mailings they use (no postmark dates). The actual letter though, with no date indicated, strengthens the fact that this is False and misleading representation in connection with collection of the debt. Do you have any old credit reports showing the DoFD for the account?
I have a CR from 2009 that shows the DoFD as 2/2007. Not exactly 10 years as I had thought...but they obviously still can't collect
So it's due to fall off in 8 months anyway, and your state SOL was 3 years if I remember? (I would say this sounds like a last ditch effort to collect, but you can and very well may receive notices like this for years to come; some though may actually follow the law) So, yes, you are correct about collecting. Follow jam's advice in going after them for violating section 807 of the FDCPA. At the very least, this CA will never bother you again.
I'm not even sure I would respond to that one if it's not on your reports and the SOL are long gone. What does everyone else think?
Reporting could be up to 2/14, so I would still act on it, and I would be aggressive with them and go right for the ITS for misrepresenting the legal status of the debt.
I agree with Jam & Jason, but i have to say i only see this CA giving up and just reselling to another JDB. How many CMRR letters is one going to have to pay through out the years to come just responding to these guys? I would go the ITS route and keep them at bay until it 100% sure cannot be placed on my credit report. Then with the next CA or that same one i would be aggressive and state the fact that the SOL has past, that they cannot do damage to your credit report. and for sure they have no legal rights to collect so it would be best for them to take what ever settlement offer you would give if not Cease and Desist or they will have to pay you... If they are smart they will take whatever money (but most CA are not smart as we all know) so it may get passed on to JDB after JDB, just keep records and offer less and less... I guess this depends on the amount of the debt. If they want $10,000 v.s. $100 they bought the debt for as low as $0.10 on the dollar, the more JDB re-buy the debt the lower they probably paid for it. Or you could just completely ignore each and every letter the CA's sent as Jason suggests...
Somehow I missed the note about the DOFD being 2/2007. Jam's advice is likely the way to go on this one if you want to stay aggressive and you know you're in the right.
Suing will also nip the reselling of the account in the bud, if they are smart. Otherwise, they would be subject to another suit for the false & misleading representation that the transfer or sale of the account subjects the consumer to actions prohibited under the FDCPA.
I think the ITS has more stopping power when SOL is passed for sure but i thought you would have to win the suit OR settle OR............ get them to PFND.. all more likely on the older debt just right at falling off. They are about to lose any leverage and once reminded of that one would think a smart logical person would agree to it.
