Hello Everyone, I don't post here often, but recently I have been having a lot of credit related questions and I thought to myself "Self, what should I do"? Recently I was turned down for a credit card, due to a recent negative entry inserted on my credit report. This negative tradeline was inserted by Benificial Tax Master for a debt that I paid with a cashiers check with a restrictive endorsement. They also sent me a letter agreeing to remove the negative entry with all three credit reporting agencies, when they recieved my payment (it was an obvious accounting error) and that was the end of the story. This was back in 1999. When I pulled up my credit report today, it was inserted as a paid collection on my credit report with transunion. I havent had time to check my other reports, but I am totally aggravated at this point. I have all the documentation, including a copy of the check with a restrictive endorsement, the letter they sent me agreeing to my terms etc... Should I immediately sue them in small claims for the blatent mistake? Or should I go through the process of disputing it with them and the CRA? I realize that the latter may be easier, but I am sick of dealing with other peoples mistakes and I wonder if I would be compensated. Since the only damages I have is a credit card denial, it does not seem that I could go that route. Has anyone had experience with these type of situations that they would like to share? I appreciate any input... Thanks godaddyo godaddyo2000@yahoo.com
Hey - where ya been? You can do what Kiyi said or you can just call Beneficial and tell them someone screwed up and they need to correct it yesterday. Actually, the cra's may not be too happy to see an agreement of pay for deletion. Should all that fail, then maybe, I would consider a lawsuit. You can show damages with a credit denial, but I personally, I wouldn't be too eager to go that route. I would try to work it out with Beneficial.
KIYI: Thanks, I am considering it. I do have a letter that just states that I owe them zero dollars and that they tradeline will be removed from the big 3. LKH: Yes, I believe that going the path of least resistance is best, but I just get so sick of dealing with companies who have made novation agreements and dont follow them. When they agree to new terms, they are creating a new contract. Just like all of you, I get tired of dealing with the stupid bureacracy of these companies... I have been enjoying my life as a real estate investor...It is nice to have banks treat you with respect on a daily basis.. Thanks,
I think you have to give them at least one chance to straighten it out amicably. You might want to mention to them that you are well aware of Nelson v Chase Manhattan (if you're not already--GET aware of it by running a search- it's been well covered). If they don't cooperate, and quickly, they're toast.
Quixote, Thanks for the case. This is what I was looking for. I will definatley go that route. Thanks again,
