Re: Re: Re: update Take it Crowmom. Huge Congrats. Take your skeptical DH out to lunch and buy him a hot dog. ~ . Don't forget to save a cpl hundred. You WILL get a 1099. And be sure deletion is part of the deal.
Re: Re: Re: Re: update FTC official staff commentary 611 item 8 states that an agency need not reinvestigate where a dispute of an item in a consumer's file is raised by a third party. By the way - this is correct. They very smoothly worded their response to subvert any resonsibility. If a dispute comes from anyone other than the consumer him/herself, the DF is under no obligation to do anything but ignore it. Obviously this was given to one of their most knowledgable attys., and therefore probably already has cost em some money. .
Re: Re: Re: Re: Re: update The Staff Commentary does predate the 96 CCRR revisions. It does not reflect those changes however. When studying the commentary use care to compare what you see with any changes which may have occured since it's effective date; May 4, 1990 .
update If you do take the money, make sure you have an agreement in writing for deletion of negative info and a promise not to reinsert. I am not a Guru, or even close, but thought you might want a response. Tell them you'll settle for 2000.00! Not a penny less! Seriously though, I have no idea what kind of violations you have them on and what you should do regarding the money. You must have them on something or they wouldn't offer the cash. Hopefully someone in the know will post. 3 day
Re: update Thanks for the replies!! whew! lol... Well, here's where i messed up. I sent them loads of paperwork with my ITS, but forgot to send a copy of the very report they sent me back in sept 03. (DUH) The negative, incorrect info was on MY report. It was NOT on DHs. It was SUPPOSED to be on DH's. That was my main gripe. this is where it gets sorta confusing. TeleCheck claims it was being reported under DHs SS#, DL#, and his (our) checking acct #. If i'd have sent a copy of my report, they'd have known that I knew that I was disputing information on MY report. Thing is, I SPELLED IT ALL OUT for them in my ITS. But I don't think they would have included this 'third party' argument if I'd have included a copy of my report. IOW, they'd have known that I had something to show the judge, so that there'd have been no third party/not obligated crap. *KICKING MYSELF--REALLY HARD* Ok, so I guess I'm taking the money. I really wonder what they'd say if i sent a copy of my report and said "there was no third party involved when I disputed something on MY report." oh well. live and learn. How do i word an acceptance of their offer? should i have it electronically deposited/wired into my checking account, or have them send me a check via snail mail? should i give them a deadline to get the funds to me? Again, thanks for the replies. Butch, i was so hoping you'd give me some input, and as usual you came thru. you have no idea how much your opinion is valued.
Re: Re: update I echo, take the money and run... The money is the big thing... If it comes back ever again, then I would do a rebuttle to the attention of the person who wrote the letter personally. "According to the copy of MY TeleCheck file which was provided by your company in September 2003, this account WAS listed on MY TeleCheck file. I want this trade line which your company has already admitted should not have appeared on MY TeleCheck file deleted, and I want a written guarantee, that your company will not in any way, shape, or form attempt to re-insert this tradeline which you now have admitted should never have appeared in my TeleCheck file in the first place. And since this account appeared in my TeleCheck file, the reference in the commentary does not apply, and your company WAS REQUIRED to investigate my dispute under the Fair Credit Reporting Act."
Re: Re: Re: update 1*I echo, take the money and run... jam237 ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~ ~ ~ ><- <>- ><- <> 1*So do I; but I don't get Butches comment about the 1099.
Re: Re: update And I forgot to mention to add that you would appreciate another "inconvenience and embarrassment" fee of $1,000.00 for the re-insertion of the erroneous item.
Re: Re: update lbrown: What I think that BUTCH is getting at is that there is a chance are they will probably try to write-off the $1,000.00 as a loss; and the $1,000.00 to crewmom was income? Therefore to cover the $1,000.00 on their books, they would issue a 1099 for crewmom's income. I didn't even notice that comment until you mentioned it...
Re: Re: update It depends. If they consider it settlement of a legal action, that money is generally exempt from taxation. When I settled for an auto accident, I got much more than Crowmom is getting, and there were no tax implications.
Re: Re: Re: update The tax code now restricts tax free settlements to those of pain & suffering and medical costs. All others are income.
Re: Re: Re: update Well, would the stress of the six month ordeal qualify as pain and suffering... I would say so...
Re: Re: Re: Re: update In the settlement offer, they they're willing to "fully resolve this matter...to compensate [me] for any inconvenience and embarrassment." maybe I could ask them to word the settlement agreement to read "this is to compensate you for pain and suffering". LOL btw, I got a snail mail copy of the same faxed settlement offer today.
Re: Re: Re: update lbrown: 1*What I think that BUTCH is getting at is that there is a chance they will probably try to write-off the $1,000.00 as a loss; and the $1,000.00 to crewmom was income? 2*Therefore to cover the $1,000.00 on their books, they would issue a 1099 for crewmom's income. 3*I didn't even notice that comment until you mentioned it... jam237 ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <> 1*Here is how my tax preparer explained it to me: A business can not claim a deduction for an amount paid as a penalty for violation of a specific code ordinance or law. If the amount is not deductible to the business so to it cannot be taxable to the recipient. Allowing deductions of such expenditures would in effect be rewarding the enterprise for breaking the law. 3*What made it come flying off the page at me was the fact that I've never seen anyone suggest the penalties for violating consumer protection laws were taxable. ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
Re: Re: Re: update Perhaps crewmom should send them a 1099 for the thousands in penalties she is forgiving them of.
Re: Re: Re: Re: update Ms. Corporate Legal Analyst, This will acknowledge receipt of your fax sent on February 26, 2004. In it, you claim that TeleCheck had no obligation to re-investigate my dispute because the debt was never reported in my consumer file. I am enclosing a copy of the very file I was provided with in September, 03. It is obviously my file. There is no third-party argument here. However, since it will save us both an enormous amount of trouble, I have decided to accept your offer to resolve this issue and compensate me in the amount of $1,000.00. I am sure you have a specific settlement agreement on which youâ??ll require my signature. I will require it to include a statement that the Centennial Bank information has been deleted from mine and my husbandâ??s profile with TeleCheck, and that it will not be reinserted at any time in the future. In exchange for said compensation and settlement agreement, I will drop my suit against TeleCheck. You may fax the settlement agreement to me at xxx-xxx-xxxx, or mail it to the above address, and I will sign it and return it immediately. I wish to thank you for reviewing my case, and I hope that this matter has set some sort of example for future reporting and investigation practices at your agency. --------------------------- translation: You're wrong, but I'll take your money, and I hope you've learned a lesson. hehee... Sending it soon. I have until the 12th, so I'm thinking I'll let them sweat it out a couple more days.
