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lokigoesrawr posted:Can CubsWoo or someone knowledgeable should chime in on the subject? I'm also curious on what the dynamics are of a collection agency handling your debt while the original creditor (OC) still owns it. The tradeline will remain if you pay it off to the OC, basically you'll still be hosed because the TL will remain. At this point start thinking strategically, because you can go for a PFD with a CA, if they can even get the paperwork that says you owe it.
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Jul 14, 2010 16:35
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Oracle posted:LorneReams posted:Wow, why am I not so lucky. Ask for verification of the debt (in writing through mail), prove it's not your or your responsibility, ask them to stop contacting you about it (again in writing) and then start recording calls after you get the green cards back. After 10 or so calls, tell them you have proof they violated the FDCPA 10 times and you will be filing suit for 10K. File suit, settle for 5K with a liquidated damages provision for 20K or so. Hope they are dumb enough to contact you again. When they do, invoke the provision and collect 20K, or settle for 10K and add a higher liquidated damages provision. Really, that sounds like easy money. There are lots of good templates for debt verification letters, intent to sue letters, etc. Make sure you keep meticulous records of dates, all your certified mail return receipts, and copies of letters you send off. If they ignore your ITS letter, go ahead and file suit.
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Jul 14, 2010 16:42
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Burning Beard posted:The tradeline will remain if you pay it off to the OC, basically you'll still be hosed because the TL will remain. At this point start thinking strategically, because you can go for a PFD with a CA, if they can even get the paperwork that says you owe it. Right, but can a settled PFD with a CA touch an OC TL (and not just their additional CA TL)?
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Jul 14, 2010 16:45
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Burning Beard posted:The tradeline will remain if you pay it off to the OC, basically you'll still be hosed because the TL will remain. At this point start thinking strategically, because you can go for a PFD with a CA, if they can even get the paperwork that says you owe it. So you're saying wait til the debt gets sold, or what?
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Jul 14, 2010 17:04
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LorneReams posted:Wow, why am I not so lucky. Ask for verification of the debt (in writing through mail), prove it's not your or your responsibility, ask them to stop contacting you about it (again in writing) and then start recording calls after you get the green cards back. After 10 or so calls, tell them you have proof they violated the FDCPA 10 times and you will be filing suit for 10K. File suit, settle for 5K with a liquidated damages provision for 20K or so. Hope they are dumb enough to contact you again. When they do, invoke the provision and collect 20K, or settle for 10K and add a higher liquidated damages provision. Wow, this sounds great. However, to whom am I sending the verification of the debt letter? The lab? The collections agency? Both? I have the paperwork stating its not patient responsibility from my insurance company already. And how do I find out where to mail it? I've only got some 866 number for the collections agency.
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Jul 15, 2010 03:57
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Alright, sorry to bump this thread, but I've been doing some research (aka typing things into google) and I have some questions. 1) Some sites suggest to only deal with the original creditor. Since I had been talking to a collections agency, should I instead call the credit card company instead with the settlement offer? 2) I know that common opinion is that a "settled" tradeline is not worth settling for at all. However, one site said that "If the creditor will not budge on giving you a favorable rating still negotiate a settlement. You can challenge the listing later directly with the credit bureaus as 'paid, never late'. Often you will get a favorable outcome." Is this a feasable/viable solution? Settle with the original credit card company then dispute the "settled" tradeline with the credit bureaus? I'd just prefer to solve this now while I have the chance (aka cash) but I don't want to shoot myself in the foot here. Thanks!
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Jul 15, 2010 18:06
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Oracle posted:Wow, this sounds great. However, to whom am I sending the verification of the debt letter? The lab? The collections agency? Both? I have the paperwork stating its not patient responsibility from my insurance company already. And how do I find out where to mail it? I've only got some 866 number for the collections agency. The collection agency. I think they are leagally required to include their mailing address in the notice. It would be by the "This is an attempt to collect a debt" disclosure.
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Jul 15, 2010 18:45
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I've read through just about every page of this thread (great advice!) and still don't feel I have a strong enough understanding of my options for this situation I'm in. I racked up a $3000 cc bill over 6 years ago. Spent a few years out of state and then moved back and resumed paying on it. I now reside in MI, and have been paying continuously since coming back to the area. My original cc was through national city, which has been bought out by PNC BANK. I specifically stated that the contact information they have on file is incorrect, and that if they need to contact me they can do so in writing. (This was after the 1st or second round of them call blasting my parents house. By that I mean calling in excess of 10+ times in a day.) My parents have repeatedly told them that I no longer live there and only receive mail at that address for security reasons. Well today was the first day past due on my account (The check is literally in the mail already) and once again they called the hell out of my parents house all drat day. I'm fairly certain this amounts to harassment. I intend to send them a Verification of Debt Letter asap, and I've been trying to get a hold of a representative for over 30 minutes. It was during open call hours, so it's not like there wasn't some one there. What can I do/What can my parents do to stop this ridiculous phone bombardment? I do not have a phone at the moment for them to harass me on, or I'd just give them my number. I intend to settle this debt, and as mentioned have been paying regularly on it for the last few years. Suggestions ?
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Jul 16, 2010 02:14
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Trans-Angeles posted:Suggestions ? I think because of you actually paying the debt, the debt verification is a little unneeded. I suppose you can request one anyway just to make sure they have all the info they need to collect, however. Your parents should send a certified letter or record a phone call saying that you no longer live there. After that, they should start recording all future collection calls as I believe that's a violation. Make sure the state they're in allows one-party recorded calls. I'm not sure what the magic number is where they can start to sue, but I don't think it's a lot. Also, you can try a pay for delete offer after the debt verification but again, as you've been paying it right now I don't know how much weight that would have.
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Jul 16, 2010 06:04
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Is the process for PFD any different if the debt it still held by the original company? I have two cards from capital one, one has been handed to a collection agency, and the other is still held by capital one. Should I deal with them any differently? Should I expect to pay more for the one still held by Capital One?
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Jul 16, 2010 18:01
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My wife and I are attempting to get our first mortgage, but the loan officer at the bank told us that I have a few issues on my credit report that I need to clean up. Basically, I have three negative marks: a couple old utility bills that have gone into collections (both around $200), and a $2000 student loan which has also gone into collections. I was thinking about trying to negotiate PFD settlements with the two small debts, but I'm concerned about how long that process takes. Am I going to be writing letters back and forth for months? Am I better off just paying the full amount and requesting something in writing saying that they've been paid? And for the student loan, what's my best option? I can't pay it outright, and the loan officer said that since it's no longer under the student loan company, the current agency might not report payment activity to the credit agencies. What sort of letter should I send them, or can I just call them up and request something to show the bank that I'm working with them? Also, should a judgment show up on my reports? About 3 or 4 years ago a collection agency won a judgment against me on an old credit card for about $6000. I paid on it for a year or so, then moved to another state, and in the process I lost the contact info for the law firm I was making the payments to. So basically I have no idea how to contact them, and I haven't received a single piece of correspondence from them in nearly two years. And when I checked my credit reports on annualcreditreport.com recently, there was no record of the judgment on any of them. The loan officer at the bank also never mentioned it after running a credit check on us. Should I be worried about this biting me in the rear end?
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Jul 16, 2010 21:59
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kalisperas posted:My wife and I are attempting to get our first mortgage, but the loan officer at the bank told us that I have a few issues on my credit report that I need to clean up. Basically, I have three negative marks: a couple old utility bills that have gone into collections (both around $200), and a $2000 student loan which has also gone into collections. Your problem is that you aren't current with literally any of your creditors. You need to at least get your payments back to current before your credit will start to get better. When you pulled your credit report did it get the info from all three reporting agencies? It should show you who all your creditors are so you can get in contact with them all. If your judgment is not listed then it does not exist. Did you plan on putting a down payment at all on your house? Couldn't you use those monies to pay down your debt and rent for awhile longer? You need to at least get that student loan current.
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Jul 16, 2010 23:10
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ifuckedjesus posted:Your problem is that you aren't current with literally any of your creditors. You need to at least get your payments back to current before your credit will start to get better. When I pulled my own reports, I looked at all three, the judgment wasn't listed on any of them. At the bank, the loan officer only looked at TransUnion. We don't have money currently for a down payment, but we know the seller and she's willing to take the house off the market for us to avoid dealing with the realtor, and she said there's ways of getting around a down payment such as leasing it to us or just getting mortgage insurance. I can pay off the two smaller debts, I'm just concerned with making sure I do so in such a way as to best benefit my credit (and if I can get them to settle for less than the full amount in the process, all the better). And with the student loan, I'm just worried about the bank officer telling me that the collection agency may not report payments to the reporting agencies.
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Jul 17, 2010 00:59
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kalisperas posted:I can pay off the two smaller debts, I'm just concerned with making sure I do so in such a way as to best benefit my credit (and if I can get them to settle for less than the full amount in the process, all the better). And with the student loan, I'm just worried about the bank officer telling me that the collection agency may not report payments to the reporting agencies. Since it's time-sensitive you probably don't want to wait out the statute of limitations, but you do need to get those off your credit ASAP it sounds like? Send debt verifications to all of them (even the student loan one), if they come back complete start the PFD process. Might not work with the student loan one but worth a shot. You'll have a better understanding of what you need to pay or not pay in a month after doing this. Still, that's not a lot of debt and if you can't afford $200/mo extra to pay these off in a year you probably shouldn't buy a house.
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Jul 17, 2010 02:47
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Knightmare posted:Since it's time-sensitive you probably don't want to wait out the statute of limitations, but you do need to get those off your credit ASAP it sounds like? Send debt verifications to all of them (even the student loan one), if they come back complete start the PFD process. Might not work with the student loan one but worth a shot. You'll have a better understanding of what you need to pay or not pay in a month after doing this. Still, that's not a lot of debt and if you can't afford $200/mo extra to pay these off in a year you probably shouldn't buy a house. I can afford to pay them, I just keep reading things like this, from the OP: quote:- If you 'settle' with a debt buyer, you're usually not much better off in terms of your credit report. A 'settled in full' tradeline is barely better (sometimes not at all) than a non-paid tradeline, and usually such tradelines will stay on your report for a full seven years. ...and I want to make sure that when I DO pay them, it actually benefits my credit score.
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Jul 17, 2010 05:13
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So just got off the phone with the collection guy, I've said that I'm waiting in the mail for verification of the debt, he asks me why, if it's just because I don't think the debt is mine, or because I think they're scamming me" I replied with "It could be a number of different things" He then said, "Alright I'll report to the bank then that you have no intention of paying." I explained that I would like to get this resolved voluntarily as quickly as possible, but I'd like mail correspondence first." He then hung up. Is he able to report that to the bank, before I even get a first notice in the mail, and when I have expressly said that I would like to get it resolved as quickly as possible?
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Jul 19, 2010 17:20
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spidoman posted:So just got off the phone with the collection guy, I've said that I'm waiting in the mail for verification of the debt, he asks me why, if it's just because I don't think the debt is mine, or because I think they're scamming me" I replied with "It could be a number of different things" He then said, "Alright I'll report to the bank then that you have no intention of paying." I explained that I would like to get this resolved voluntarily as quickly as possible, but I'd like mail correspondence first."
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Jul 20, 2010 01:42
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I have two questions, hopefully somebody can help me determine proper courses of action: 1) I have a potentially negative item on my credit report with a collection agency, who took over a debt from Verizon Wireless. It has been 3 or 4 years since I switched service from Verizon, and at the time I was moving around a bit and didn't keep track of what might be wrong with my credit. Anyway, the "debt" is an Early Termination Fee (ETF) for when I switched cellphone providers. However, I believe them to be in the wrong as my contract was paid in full - I had switched to the new service before the technical end date, but I had paid the last months service. I have no intention of paying for something that I don't owe, since I fulfilled my contract. This is a situation where I should dispute the debt, correct? 2) Just today I received a mailing from a collection agency. However, it is not my debt. It's not my name on the collection paper (same first name, however). The original creditor is Sprint, whom with I do have an account. My account is in good standing and paid in full, though. Do I simply mail them with the information on the paper, telling them that they have the wrong address or person?
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Jul 20, 2010 03:21
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Luminous posted:2) Just today I received a mailing from a collection agency. However, it is not my debt. It's not my name on the collection paper (same first name, however). The original creditor is Sprint, whom with I do have an account. My account is in good standing and paid in full, though. Do I simply mail them with the information on the paper, telling them that they have the wrong address or person? Just ignore it.
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Jul 20, 2010 05:00
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evensevenone posted:Just ignore it. I would save the mailing though...I've had stuff come labeled to someone else that "mysteriously" became my name after they did more skip tracing and it's nice to have that original to show they are just loving around.
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Jul 21, 2010 12:30
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Cubswoo, I've had a few judgements against me and need to do some serious cleaning up of my credit. Are you still possibly offering paid help? I am so completely lost on where even to start. I emailed the goondebtrelief account you posted earlier.
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Jul 22, 2010 18:58
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Ok, not sure if Cubswoo is still with us, I'll ask a question about one sticking point I have. I have a negative mark on my experian report that's not on my transunion. I am trying to type up a PFD letter, but the experian report doesn't show the whole account number. How can I find this out?
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Jul 25, 2010 05:46
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tensai posted:Ok, not sure if Cubswoo is still with us, I'll ask a question about one sticking point I have. I have a negative mark on my experian report that's not on my transunion. I am trying to type up a PFD letter, but the experian report doesn't show the whole account number. How can I find this out? I'm not Cubswoo, but I think you just need to send a letter to the debtor verifying the debt, they'll give you the whole account number, or at least a reference number that you can then refer to in your PFD letter.
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Jul 25, 2010 15:17
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tensai posted:Ok, not sure if Cubswoo is still with us, I'll ask a question about one sticking point I have. I have a negative mark on my experian report that's not on my transunion. I am trying to type up a PFD letter, but the experian report doesn't show the whole account number. How can I find this out? I would demand verification, rather than PFD. I mean, if the whole thing's that sketchy, they may not be able to prove anything.
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Jul 25, 2010 17:03
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That's what I had figured. What do I reference? There is a part of the account number, but the last 4 are not shown on the report.
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Jul 25, 2010 17:20
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tensai posted:Ok, not sure if Cubswoo is still with us, I'll ask a question about one sticking point I have. I have a negative mark on my experian report that's not on my transunion. I am trying to type up a PFD letter, but the experian report doesn't show the whole account number. How can I find this out? What is it and how old is it?
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Jul 25, 2010 17:28
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It's for a "Debt Recovery Solutions" for an Embarq account that I swore was all paid when I closed the account. For god's sake, I got a check for $50 from them just this year, which I'm thinking is the deposit I gave them. It's only a year old, sadly.
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Jul 26, 2010 01:15
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And the saga continues... So they finally called me again and called them tonight and asked for the verification letter. They told me the window to send out a verification letter had passed, that they had sent one back in April, and basically refused to send me another one. They did say however that if I were to send them proof that the insurance company had already reimbursed the doctor's office and that this was not my responsibility (which I had been told the insurance company already sent to the lab, and that I requested they send to the collections agency, but they claim they hadn't received any such thing) they would take it up with the lab. Can they refuse to send me verification of a debt that they are trying to collect on? I told them I hadn't received any such thing but they were claiming up and down it was impossible to send me another because the 'window had closed' and it was all automated and they were thus unable blah blah blah, talked to the supervisor and they said the same thing.
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Jul 29, 2010 01:47
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That's BS. Also don't deal with a collector over the phone, it's pointless; do everything in writing. Send them a letter via certified mail with a read receipt asking for verification of the debt. Also request that any further communication regarding the debt should be done via the US postal service. There are form letters all over the Internet for this very thing so you just have to find the collector's address and mail it to them.
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Jul 29, 2010 02:32
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Yeah, they can say whatever they want over the phone, when you have a certified letter receipt showing they didn't verify, it's a violation regardless. NEVER TALK TO THESE PEOPLE OVER THE PHONE, NOTHING GOOD EVER COMES FROM IT!
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Jul 29, 2010 02:40
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I'm helping my fiance resolve some debt she incurred quite a few years ago. She has managed to sock away enough money to cover the entire amount that the collections agency is demanding, though if we choose to go down that route we'll certainly try to negotiate up from 10%. My question is this... as far as I can tell the last due date on her credit card was 2004, so the 7 year limit for appearing on her credit report is approaching. With this in mind, should she pay at all? We are in CA, so she is already beyond the SOL for being sued by the collections agency. Ideally, we would get a PFD, negotiate some amount, pay it and be done. However, if she pays and does not get PFD, will this mark remain on her credit report for an additional 7 years?
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Jul 29, 2010 02:51
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I made sure to get their address at least, so woo hoo! However, this does not bode well for me:quote:Can I dispute the debt after the validation period? It is definitely outside of this thirty-day window they're talking about as she claims they sent the letter in April. Oracle fucked around with this message at 03:42 on Jul 29, 2010 |
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Jul 29, 2010 03:38
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wooden pants posted:I'm helping my fiance resolve some debt she incurred quite a few years ago. She has managed to sock away enough money to cover the entire amount that the collections agency is demanding, though if we choose to go down that route we'll certainly try to negotiate up from 10%. If you pay now, it can show up for another 7 years as a paid collection. You're better off waiting.
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Jul 29, 2010 06:04
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Rusty Shackelford posted:If you pay now, it can show up for another 7 years as a paid collection. You're better off waiting. Is it worth it trying to negotiate PFD then wait if we can't get PFD?
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Jul 29, 2010 06:58
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wooden pants posted:Is it worth it trying to negotiate PFD then wait if we can't get PFD? A 6 year old debt is pretty meaningless on a credit report. Unless your fiancee is trying to buy a house or something, I would just wait.
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Jul 29, 2010 07:02
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Rusty Shackelford posted:A 6 year old debt is pretty meaningless on a credit report. Unless your fiancee is trying to buy a house or something, I would just wait. Thanks for the info. There are separate entries in her report, one for the intial credit card debt that was charged off, then entries from the CCA that the debt was sold to. When 7 years hits on the original credit card negative byline, I imagine this would not cause the collections byline to also drop off. If that's true, then wouldn't it be good to try to at least pay this (PFD or otherwise) so it is not again sold to another collections agency and another byline added to the credit report? One other question, the 7 year window for the negative with the original creditor being removed... Does this start from this first date that the account was late (assuming it was never in good standing again)? The credit reports we've pulled to not explicitly state a date of delinquency wooden pants fucked around with this message at 07:48 on Jul 29, 2010 |
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Jul 29, 2010 07:09
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Oracle posted:It is definitely outside of this thirty-day window they're talking about as she claims they sent the letter in April. Did they send the letter certified? Did you sign for it? The burden of proof is on them, which is why we always send OUR letters certified with return receipt. Collection agencies will lie and say ANYTHING, even under oath in front of a judge.
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Jul 29, 2010 12:34
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Course not but they are no longer legally required to send me one, so *shrug*. That page also says I can send them a cease and desist letter and that I only want to be contacted in writing and if they call after that I can still do the 1000/per suing thing so I'll just take that tack, along with sending them proof that insurance paid the doctor's office AND that its not a patient responsibility.
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Jul 29, 2010 15:18
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So Sallie Mae must have found out that my wedding is coming up soon and sent me another letter trying to collect, even though I sent out a certified verification letter in February which they didn't respond to. I would like that 1,000$ so what's my next step in my effort to curb stomp them?
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Aug 1, 2010 08:10
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Mercedes posted:So Sallie Mae must have found out that my wedding is coming up soon and sent me another letter trying to collect, even though I sent out a certified verification letter in February which they didn't respond to. I would like that 1,000$ so what's my next step in my effort to curb stomp them? If they are that stupid, you really want to wait and get them to commit multiple violations.
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Aug 1, 2010 15:44
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