On 8/99 I had a vehicle repossessed from Ford Motor Credit. On 9/02 I settled this with Fordâ??s collection agency, Allied Interstate. We settled on the advice of our mortgage broker. The agreement states; â??Upon receipt and clearance of your funds, we will report your payment to our client who will update all credit reporting agencies to whom it reports with the correct and current status of your account.â? The funds cleared and were deposited BY FORD! They did not update. I disputed twice with all the CRAs. All verified. I Called Allied Interstate on 1/03 told them to update. I Called Ford Motor Credit they said I had to call Allied. I Called Allied on 3/03. I have been repeatedly turned down for credit (mortgage!). It just updated on 5/03. Can Ford be held liable for not updating for 9 months.
???? Was the mortgage turned down by the same broker that advised you to pay it? Would they not accept proof from you that it was paid?
No, it was a different broker. I applied with a new mortgage company in Mach/April. They gave me a letter stating that the ford tradlne must be updated.
Upon receipt and clearance of your funds, we will report your payment to our client who will update all credit reporting agencies to whom it reports with the * jacknmax ========== NEVER settle for such vague terms as this. *correct and current status of your account. According to who?
15 USC 1962e of the FDCPA: (2) The false representation of -- (A) the character, amount, or legal status of any debt; or If the debt was paid, and it was verified as unpaid they misrepresented the character of the debt. Send an ITS letter to the CA. Inform them that due to their violations you have sufferred damages in the amount of your mortgage plus statutory damages and at this time you are willing to accept permanent deletion of the account in lieu of monetary damages. If they fail to accept the offer within 10 business days you will refer the matter to your attorney who will proceed in litigation against in the amount of $$,$$$+.
