Facts: I returned a GMAC lease car early about 5 years ago. GMAC said they would sell the car at aution and I would need to pay the difference. I have not received a bill from GMAC. Last October I received a letter from Tri-Advantage collection agency stating I owed $2500 with no details. Then they call and I told them to send me all discovery in this case with bills from GMAC. They have not done that. I have called GMAC and they told me I need to deal with Tri-Advantage. Tri-advantage leaves meesages on my answering machine every day. My credit report states I owe $4000 to GMAC not $2500 as Tri-advantage states. It is in CHARGE OFF status on the credit report. Credit report also stated Tri-AdvantadeI did an inquiry a couple days before they sent the October letter (only letter). I have very bad credit from this charge off. Need advice! Questions: I want to resolve this issue. What should I do? SHould I send Tri-advantage a letter disputing the claim to see what evidence they have of this GMAC bill? What should I do about the difference in amount? What does CHARGE OFF mean? If I paid this amount would the charge off and this GMAC charge come off my credit report? Lastly, under NH law it is my understanding that the statute of limitations is up after 3 years when they did not come after me for this for 5 years. Any suggestions?? Thank you.
1)To stop the phone calls, you need to send the collection agency a C&D letter (sample letter section /use as a basis for your letter) 2)A charge off is when a company decides a debt is not collectible.This happens 180 days from the date of last activity. 3)If the SOL is up, then they can not sue you for this bill.(check to make real sure the SOL is up) 4)Have you tryed disputing it on your credit reports? You may want to try this first. You also may want to remove any old addresses from your reports before you dispute it.Often, old accounts are attached to previous addresses. if you have tryed this,then send a validation letter to GMAC.They need to provide you with proof that you owe them this money & how much you owe.There has been debates on whether or not a original creditor actually has to verify a debt,but since they are reporting it,i would say yes, they have to verify. There are sample letter for this also.(make sure to change the letter to make it your own) Above all else, make sure you take your time on everything.This won't happen overnight. Search for other messages on the board regarding GMAC.There could be helpful info in another message. Read & learn the FCRA & the FDCPA Link: FTC Homepage Make sure you have your strategy planned out & keep a paper trail of everything.Use certified mail with a delivery conformation for any letters you send. There is a thread called "100 top mistakes" (or something like that ). Check it out,there is a lot to learn from it. Sorry this is so long, hope some of it helps you....
Here is a good post from Butch about C/O's and 1 from Doc on dealin with 'em (after and if you pay them). -Peace, Dave
On the dispute forms they allow you to dispute personal information. Next to the former address just put "not mine" (after all it is not lying...it is "not yours" correct). I have had about 70% success with this. Once they refused to because I had claimed "I never lived there, it is a business district and probably an old business/client of mine" so they updated it to work address ) So now I just use the "not mine" reason, and usually it will get the job done. -Peace, Dave
