IC systems did a soft inquiry into my credit report a few months back-- I knew i'd be hearing from them soon. They called yesterday. Actually, the lady on the phone was quite helpful suggesting that I ask for validation - thats a change. I sent it out yesterday. They are not on my credit report. Can anyone tell me how these guys are to deal with regarding validation and negotiation? Are they hard to get removed from credit reports or would it be wise to make a deal quickly to keep them off my report?
I dealt with them before I knew anything about this board or credit repair. I had cosigned on a loan that defaulted and they went after me rather than the main person on the loan. I was never contacted by the OC about the default. They scared the hell out of me on the first call. It was my first time ever being called by a collection agency and they convinced me that the attorney was standing there with the lawsuit ready to file unless I paid immediately. What was also scary was they knew more about my financial affairs than I did, including the exact amount of money in my bank account that day. I ended up paying the $5,000 loan off plus over $2,000 in "attorney fees". They had the collection account less than 7 days. I think I still hold their all time record for stupidity. I agreed verbally that no negatives would appear on my credit reports in return for the payment. A few weeks after payment, they reported to all three CRA's that the loan was in default and that it was in collections. Not a word about it being paid off. I fought with them and finally got the original creditor to remove the negatives. Bottom line is don't believe anything they say. Get everything in writing. Incidently, both NCO and the original creditor (Wells Fargo) have promised to document the "attorney fee" but have not done so. I don't ever remember seeing a positive comment on them. They are the worst. They claim to be a part of Wells Fargo, but I don't know if that is true or not.
