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Powdered Toast Man posted:I poked around the disputing process and the only records I found were the original accounts, both of which show charge-offs. One of the dispute options was, "I am no longer responsible for this account" or something of that nature. Should I dispute those records? they might also give the bureaus the updated information and change the collections information back to open and send you back to square one. I dunno how that works. Migz posted:I sent NCO financial a letter to confirm debt and they did. So they have all their ducks in a row, how should I go about negotiating a pay for delete with them? via mail or give them a call? Any advice on that company? I think calling would be the best route. Mail will take a few days to get there and they'll almost certainly take forever to respond, so unless you have a lot of time to work on this problem I would just dial them up and explain to them that you have no intention of giving them any money unless they're willing to work out a deal with you. I wish I could have just emailed the companies I'm dealing with write now, but it's much too easy for them to just say "nope sorry give us money okay bye" via email.
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Jun 27, 2012 06:20
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Redfont posted:If the companies haven't updated to the latest owners of the dispute, I would imagine that that would be the best course for you to take. Maybe even call the original owners of the debt, tell them you're disputing it online and that they should confirm that you're no longer responsible for the account. I don't know what they're like but if you can get them to cooperate with you (I don't see why they wouldn't since they no longer own the debt) things should be much easier. This is dumb as hell. Just because you got a dunning letter from a collector does not mean the original creditor is no longer involved and will let you off the hook. Powdered Toast Man's accounts are very recently charged-off credit cards. It's probable that the debts are just assigned, not sold. In this case the collectors usually won't respond to a validation request, they will just kick the accounts back to the original creditors and let them handle it. The original creditors can probably sue him tomorrow if they want to. Trillian fucked around with this message at 08:38 on Jun 27, 2012 |
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Jun 27, 2012 08:35
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Trillian posted:This is dumb as hell. Probably. I am mainly just guessing here. He just mentioned before that the debts had already been sold to someone else so the information really should have updated by now. Redfont fucked around with this message at 16:18 on Jun 27, 2012 |
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Jun 27, 2012 14:39
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Trillian posted:This is dumb as hell. Just because you got a dunning letter from a collector does not mean the original creditor is no longer involved and will let you off the hook. Uh...why would they sue me? I didn't refuse to pay and I said so very specifically in the language of both of my letters. I simply asked for validation and they failed to provide it. If I was given a reasonable offer for a pay-for-delete I would take it, but that hasn't happened. I also attempted to negotiate with both credit cards before they charged off and they wouldn't play ball. They don't give a flying gently caress that I couldn't pay for a long time because I was disabled and my income was significantly reduced. All they cared about was my income level and it wasn't low enough for them to open up a hardship case once I gave them the information on my budget. I tried to get an answer from them about how low my incom would have to be and they wouldn't tell me. I talked to CCC and that would not really have helped based on the payments they were able to give me and it would have hosed my credit over just as badly. Even after I got to a point where I could have started paying the minimum payments again, they wouldn't accept that. They wanted all of the past due payments and late/non-payment fees, and they wanted it immediately. Also, both of the accounts have not been used except for a few small charges in years. I was basically paying interest on interest and by my calculations I've already paid them of for the original principal amounts on both accounts. So I'm sorry, but gently caress them. The only reason those two cards even got to the level they were at was medical expenses and periods of unemployment where I had no other options. I have basically zero physical assets to show for those balances and so I really don't give a gently caress if they can't suck me dry any more. A total of $500 a month or so MINIMUM payments for both, and I'm getting absolutely nothing in return except "keeping my credit good" except it wasn't that good anyway because of the high balances. If there's one thing I learned from this entire experience, it's this: gently caress. CREDIT. CARDS. If you need money for an unexpected expense, get it from some other source. Do not give credit card companies your money. Edit: By the way, both collection agencies asked for the full final balance of the accounts in question. Due to reading this thread and other sources I'm well aware that most of that would be profit if I did pay them, which is why I demanded validation.
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Jun 27, 2012 17:18
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In other news, I just got a call from the new company that's picked up my debt. Apparently they tacked on an interest charge of ~$80, I asked them to send me verification of the debt and they said they would send it out. I told them I would offer to pay 50% or nothing, but since it sounds like they were just assigned the debt from the previous company I don't have high hopes for this. I don't know exactly how these debts work, are they actually allowed to tack on "interest" to these things? On the one hand, that sort of sounds right, but on the other hand this thing has been lying around for two years, it would have doubled by now if there was any interest associated with it.
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Jun 27, 2012 18:06
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Redfont posted:In other news, I just got a call from the new company that's picked up my debt. Apparently they tacked on an interest charge of ~$80, I asked them to send me verification of the debt and they said they would send it out. I told them I would offer to pay 50% or nothing, but since it sounds like they were just assigned the debt from the previous company I don't have high hopes for this. The answer to that's going to change state by state, but generally yes they can add some fees. Some collections agencies will continue to add on interest fees at whatever rate they feel like, so if you haven't mailed out your DV yet, make sure to ask them to lay out any interest or other fees they've tacked on. Some states limit what collections companies can and can't do here, so check out your state laws.
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Jun 27, 2012 19:46
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Powdered Toast Man posted:Uh...why would they sue me? I said so in the context of "don't call these people up and be stupid." However nothing you said means they won't, necessarily. They are not obligated to make you an offer. They just generally won't bother suing unless the SOL is running out or you do something dumb and it's a lot of money. The collectors you're dealing with likely did not purchase the debt as you assume. They are often assigned it by the original creditors at this stage of the game. This doesn't mean they won't negotiate, though. Trillian fucked around with this message at 22:01 on Jun 27, 2012 |
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Jun 27, 2012 21:56
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Trillian posted:I said so in the context of "don't call these people up and be stupid." However nothing you said means they won't, necessarily. They are not obligated to make you an offer. They just generally won't bother suing unless the SOL is running out or you do something dumb and it's a lot of money. Assigned? What's the difference between selling it and assigning it? I've never seen that terminology in anything that I've read including the FDCPA. Does that mean they're just going to pass the buck to yet another agency?
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Jun 27, 2012 23:31
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Powdered Toast Man posted:Assigned? What's the difference between selling it and assigning it? I've never seen that terminology in anything that I've read including the FDCPA. Does that mean they're just going to pass the buck to yet another agency? Selling means the original creditor is paid by the collections agency for the debt and has nothing more to do with the debt - the collections agency directly makes money by recovering the debt. Assigning means hiring a collections agency to collect for you - the collections agency makes a commission by recovering the debt, or some may simply charge a fee to the creditor.
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Jun 27, 2012 23:46
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baquerd posted:Selling means the original creditor is paid by the collections agency for the debt and has nothing more to do with the debt - the collections agency directly makes money by recovering the debt. Assigning means hiring a collections agency to collect for you - the collections agency makes a commission by recovering the debt, or some may simply charge a fee to the creditor. Well, the original letters from the two collection agencies said nothing about whether they were assigned or had purchased the debt, so how am I supposed to know what the status is? I thought they had to tell you everything. Also, considering that both original accounts show charge-offs I assumed that meant they had sold the debts.
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Jun 28, 2012 14:44
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Powdered Toast Man posted:Well, the original letters from the two collection agencies said nothing about whether they were assigned or had purchased the debt, so how am I supposed to know what the status is? I thought they had to tell you everything. If they have purchased the debt, then they are obligated to show you that they now have the right to collect it. That is really it. A charge-off does not mean the debt is sold. Creditors declare charge-offs on debts, usually after six months, so they can get a tax break on the money.
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Jun 28, 2012 20:42
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Wonderful thread, CubsWoo, you're really providing a great resource for all of us. I'm using your advice to deal with some debts accumulated as a result of a hosed up family situation I left a few years ago. I sent a certified debt verification/cease and desist letter to the one debt collector who has been calling me. They had my old address(es), but I included my new one. If they continue to contact me after the letter has reached them, how would you suggest I keep track of their phone contact with me? They are calling from a blocked number, but I could just write down any dates and times of phone contact.
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Jun 30, 2012 22:21
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deptstoremook posted:Wonderful thread, CubsWoo, you're really providing a great resource for all of us. I'm using your advice to deal with some debts accumulated as a result of a hosed up family situation I left a few years ago. I sent a certified debt verification/cease and desist letter to the one debt collector who has been calling me. They had my old address(es), but I included my new one. If you live in a "1 party" state you can record them without telling them. If not, they're likely to hang up when you tell them you are recording unless they are enormously stupid...and some of them are. If you manage to record them they have to identify themselves and say certain things so you'd have proof that they violated your request for no phone contact.
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Jul 1, 2012 03:07
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Powdered Toast Man posted:If you live in a "1 party" state you can record them without telling them. If not, they're likely to hang up when you tell them you are recording unless they are enormously stupid...and some of them are. If you manage to record them they have to identify themselves and say certain things so you'd have proof that they violated your request for no phone contact. Also if you need proof they've been contacting you, your phone bill probably has the inbound and outbound calls listed.
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Jul 1, 2012 03:38
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Recording calls has other benefits, too, like catching them saying things they aren't allowed to say (and the list of things is pretty long).
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Jul 1, 2012 21:27
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Powdered Toast Man posted:If you live in a "1 party" state you can record them without telling them. If not, they're likely to hang up when you tell them you are recording unless they are enormously stupid...and some of them are. If you manage to record them they have to identify themselves and say certain things so you'd have proof that they violated your request for no phone contact. I can't remember if this was ever answered: Say it's a "2 party" state, and they say "This call may be monitored," do you still have to tell them that you are (or may be ) recording it?
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Jul 1, 2012 21:43
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uapyro posted:I can't remember if this was ever answered: They just gave you permission to record it.
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Jul 1, 2012 22:19
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I'll admit I haven't read all 49 pages of this thread, but I read quite a bit and I see a recurring theme here.. "I was just talking to a debt collector on the phone, and he/she said..." Do not talk to these people on the phone. Ever. Just don't do it. Pick up once, tell them you're recording the call (regardless if you are or not) and that you request them to only contact you in writing, ask them to confirm they understand, then hang up. Deal only by written correspondence and only give them info that you absolutely have to (eg if you do make payments, do it by a money order.. why pay a scumbag collection agency with a check, they now have your checking account info). My pops name is very similar to mine, and he went around town floating rubber checks to liquor stores and may have also taken out credit under my ssn. I spent years dealing with this crap and got a low 400s score into 700s. My best advice remains though, guilty or not, do not talk these jagoffs on the phone.
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Jul 1, 2012 22:27
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I signed a 6 month contract to a gym last November. On the contract, there's an "Auto Renew" section which states that they will continue billing me unless I notify them in writing 30 days before I would like to stop going to the gym. I did not initial this segment of my contract, and the lady who took it from me at the gym told me I would not be billed after those 6 months. I did a chargeback on my credit card shortly after I was billed and assumed that would be the end of it. I then received an e-mail from the company that handles all of this gym's finance issues that I owe them my monthly dues as well as a late fee, and if they receive no response in 30 days they're going to send me to collections. Surprise surprise, I was billed for another month's dues after the 6 were up. I e-mailed the gym manager and he told me he noticed it on my contract as well, and that he notified the store owner ("but it may take him awhile since he and his wife just had a baby"). A week later, I went to the gym to see what the hold-up was. He said he's still waiting to hear back from the owner, and hopefully that will happen "before it goes on [my] credit report." Anyways, I haven't even used the gym in 4 months (I moved and it's no longer convenient, signed a 6 month contract because I was unsure how long I'd be around for). At this point, what do you guys suggest I do? I was thinking about writing a letter explaining my circumstances and including a photocopy of my copy of the contract, and maybe print out the e-mail between me and the manager. It's been 3 weeks since I first contacted the manager and there haven't been any updates on my situation.
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Jul 4, 2012 01:23
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[potentially] good news for me! I just checked my updated credit report, and the debt that the company failed to verify isn't on my report anymore. [potential] woooo! I still haven't received verification from the agency that it was transferred to, what are the chances that this debt hasn't actually been permanently removed and just hasn't shown up yet? Alternatively, what are the chances it's actually gone and they're just trying to squeeze me for money? Update: My credit report has alerted me that that debt has disappeared from my report and my score just jumped 128 points from 572 to 700. I went from Very High risk to Low risk over a few months just by cracking down and dealing with these things. Thanks SA! Redfont fucked around with this message at 14:43 on Jul 4, 2012 |
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Jul 4, 2012 06:14
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I have a Wells Fargo with $5100 on it. I was sick, got somewhat better and got a job, then got sick again and am now on SSI. I'm still talking to the original creditor, they wanted 1000 dollars immediately when they called at 1pm on Saturday and then $1400 when I called them for their mailing address. I have a little money that I can try to settle with, but after that I'm pretty much broke forever. What should I do if they don't take the settlement? I don't have much time before my 180 days are up. I'm scared they might sue. If they do I'll have nothing to live on.
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Jul 5, 2012 12:29
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Elliot Rosewater posted:I have a Wells Fargo with $5100 on it. I was sick, got somewhat better and got a job, then got sick again and am now on SSI. I'm still talking to the original creditor, they wanted 1000 dollars immediately when they called at 1pm on Saturday and then $1400 when I called them for their mailing address. I have a little money that I can try to settle with, but after that I'm pretty much broke forever. What should I do if they don't take the settlement? I don't have much time before my 180 days are up. I'm scared they might sue. If they do I'll have nothing to live on. I don't know your state and local collection laws. If you don't pay, generally one of three things will happen: 1) they will sell it to a 3rd party debt collector. This debt collector will likely pay anywhere between .02 to .30 cents on the dollar for your debt. You can probably settle with these guys pretty easy 2) they will assign it to a collection agency who makes a % of the debt collected. They are still eager to settle but not at the same discounts as #1. 3) they will give it to their local collection law firm and threaten to sue you. If they don't get anywhere with the threat they might actually sue you. If they sue you and win the case, they will become a "judgment creditor." After they become a judgement creditor they will send you discovery requests looking for assets of yours to garnish or sell. Review your state's exempt property. In Texas they wouldn't be able to garnish your disability, home, car, most personal assets, etc. If your state has generous exemptions, you might just ignore them as you have no assets to take. The down side is that generally they can keep the judgment alive for the rest of your life. That means if you suddenly win the lotto or receive an inheritance, they'll show back up.
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Jul 5, 2012 15:41
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Elliot Rosewater posted:I have a Wells Fargo with $5100 on it. I was sick, got somewhat better and got a job, then got sick again and am now on SSI. I'm still talking to the original creditor, they wanted 1000 dollars immediately when they called at 1pm on Saturday and then $1400 when I called them for their mailing address. I have a little money that I can try to settle with, but after that I'm pretty much broke forever. What should I do if they don't take the settlement? I don't have much time before my 180 days are up. I'm scared they might sue. If they do I'll have nothing to live on. Since you're on SSI, they may not be able to do anything. You should look into that. I believe that people on public assistance are pretty safe from this sort of thing. But don't take my word for it. Do some research and see if this applies to you. It may be on a state by state basis too.
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Jul 5, 2012 18:04
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Haji posted:Since you're on SSI, they may not be able to do anything. You should look into that. I believe that people on public assistance are pretty safe from this sort of thing. But don't take my word for it. Do some research and see if this applies to you. It may be on a state by state basis too. If you're on SSI they can't do anything. I owed about $220 on a bank account once and just told the agencies to get hosed, and it didn't even go on my report.
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Jul 5, 2012 18:23
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-Troika- posted:If you're on SSI they can't do anything. I owed about $220 on a bank account once and just told the agencies to get hosed, and it didn't even go on my report. All of this depends on the state. For instance, they may not be able to recover his SSI but they could attach themselves to his bank account.
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Jul 5, 2012 18:49
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An old debt has popped back up, with a new debt collector. The envelope itself only had a return address and my name, but the paper on the envelope is so thin that I was able to read "Settlement offer", "This is an attempt to collect a debt", the name of the debt collector, and the name of the original creditor. It's the thinnest paper I've ever seen used on an envelope. "Settlement" and enough of "Creditor" are also visible enough through the address window to make it obvious what it is. Was this legal? I scanned the envelope before opening it as well. Most collection notices I've gotten were in the privacy-style envelopes, or at least used envelopes thick enough that it wasn't  loving obvious it was a debt collection letter.Hopefully this doesn't bite me in the rear end, but this is how it showed up in my mailbox. It's very readable if you have the full size image, but I'm a bit hesitant to post that. edit: picture removed. Also found out an old CC debt has been re-aged. The account was charged off in early 2005, which should put it beyond the statute of limitations by now. However, they called me a few weeks ago and stated they were calling about that particular account, and stated it was from early 2008 - which still puts it beyond the statute of limitations for them to contact me in my state (Texas - 4 years). How do I go about fixing that? edit I just pulled my 3 credit reports, and that particular debt has now been re-aged to late 2008 - last updated, of course, a few days ago. It's also listed by multiple collection agencies. Disputing the hell out of that. I've been trying to repair all the damage from teenage/20s stupidity, and hadn't heard from any debt collectors in nearly a year until a few weeks ago. And today. randomidiot fucked around with this message at 02:05 on Jul 8, 2012 |
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Jul 6, 2012 02:43
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some texas redneck posted:Was this legal? I scanned the envelope before opening it as well. Most collection notices I've gotten were in the privacy-style envelopes, or at least used envelopes thick enough that it wasn't Since you're posting about privacy... I noticed you blocked out your address and zip code in the little cellophane window. However, you left the 62-character barcode just to the right of the window. It gives us your full 5+4 zipcode. Now that can't pinpoint you exactly, but at a minimum narrows it down to your city, state and mail carrier's route. For some locations, it could be even more specific, such as your building. Type those characters into the form as '.' and '1' as described under Decode USPS POSTNET and you can see for yourself. Unfortunately, you can't do anything on the internet if you're worried about privacy - but it helps to be aware of what can be done with data you willingly provide. Edit: Also, the mailman doesn't care about your collection letters unless he personally knows you and wants to blab it to everyone. I'd be more concerned with thin envelopes that contain checks, new credit cards, etc. Gangsta Lean fucked around with this message at 18:53 on Jul 7, 2012 |
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Jul 7, 2012 18:51
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Gangsta Lean posted:Since you're posting about privacy... That barcode actually gives you a full 5+4+3 zip code that will let you pinpoint the exact address. The +4 is the mail carrier route and the +3 are the last two numbers of the address (e.g. 35 in the address 2235) followed by a checksum digit.
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Jul 7, 2012 20:47
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Wouldn't it still be ambiguous in a lot of cases, such as 123 Main Street Apt 10 compared to 123 Main Street Apt 11? I think the street address portion "123 Main Street" is as specific as you can get with this 5+4+2 code. Nevermind. According to wikipedia, they do get as specific as suite nubmers. Gangsta Lean fucked around with this message at 00:56 on Jul 8, 2012 |
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Jul 8, 2012 00:49
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Gangsta Lean posted:Edit: Also, the mailman doesn't care about your collection letters unless he personally knows you and wants to blab it to everyone. I'd be more concerned with thin envelopes that contain checks, new credit cards, etc. I was more concerned about a particular family member seeing collection letters; I could care less about the mailman.
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Jul 8, 2012 02:37
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So, my boyfriend does not make the best choices. In 3/2006 he got a $5000 line of credit with Wells Fargo, which he stopped paying on in 9/2006. This April he received a letter from a law firm stating that they represent SACOR Financial (I guess a collector?) and that he had 30 days to pay the accrued balance of approx $10000 or legal action might be taken. He promptly ignored this letter. Today he received a voicemail from his ex that someone came to her apartment trying to serve him with court papers. Dun dun dunnnn. I should note the law firm letter went to her as well and she forwarded it on. Is it too late to send a DV letter? How screwed do you think he is? He's only got around $1000 in savings. He's panicking and 50/50 on trying bankruptcy or selling his car and trying to settle at court. Sorry for the long-winded post! Any advice is greatly appreciated. Edit: We're in AZ if it matters.
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Jul 9, 2012 18:48
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ashley posted:So, my boyfriend does not make the best choices. In 3/2006 he got a $5000 line of credit with Wells Fargo, which he stopped paying on in 9/2006. This April he received a letter from a law firm stating that they represent SACOR Financial (I guess a collector?) and that he had 30 days to pay the accrued balance of approx $10000 or legal action might be taken. He promptly ignored this letter. Find out the statute of limitations in AZ, find out what property is exempt in AZ, find an attorney to talk through your bf's options. He shouldn't panic and sell is car, he should relax and consider his options once he knows what those options are.
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Jul 9, 2012 19:00
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Whelp guys, it's been fun!  Yesterday I got a certified letter from the local district court saying that a credit union I have an unsecured delinquent loan with is suing me for something around $6k. I haven't made any phone calls yet or taken any action. Obviously if I could make the payments I would be, I'm loving broke. Anyways, whats the best move at this point? Start selling organs?
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Jul 10, 2012 21:43
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cr0y posted:Whelp guys, it's been fun! ALWAYS GO TO COURT. Judges will side with you if you throw a sob story and will usually work with you to set a payment schedule or some other type of arraingment. If you miss, you are giving them permission to really let you have it, and missing court is the one thing that pisses judges off, no matter which side does it.
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Jul 10, 2012 23:35
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cr0y posted:Whelp guys, it's been fun! Options: 1) Call them up and offer to settle over a long period of time (60 months if possible and you can afford it) (threaten bankruptcy for leverage) 2) File for chapter 7 bankruptcy, it will stop the case from moving forward and discharge your other debts as well. (assuming you qualify) 3) Show up in Court and grovel, some judges where I am routinely chop 20-30% off the debt amount. Some judges don't care and issue a judgement for the full amount. 4) Check your state exemptions, if you don't have any assets, just ignore the case and let them get a default judgement against you. Don't ignore the discovery requests that come after the default judgement or the judge will get angry (some folks have been sent to jail for contempt). If you don't have any assets they can take, they'll just keep the judgement alive until you die.
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Jul 11, 2012 02:17
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I decided to look at my credit report the other day for the first time in awhile when I stumbled across this negative item: I'm pretty positive its for an ambulance ride I took in summer of 2010 while visiting my parents. All of my other medical bills/co-pays were paid in full with no issues, which makes me wonder what the hell is going on. On top of that, is the weird reporting between the 3 agencies with Experian reporting it closed by Charlton Ambulance (with a KD), nothing from Equifax and a collector at TransUnion. Both account #s for the Experian and TransUnion are the same though. What's the best way to resolve this and get my credit positive again? Having the collector send me a letter taking off the KD with payment? Or did Charlton AMB file the KD and it can't be removed now that the collector owns the debt? drat, over $187 I didn't even know about...
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Jul 11, 2012 10:05
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I have a student loan with wells fargo and my sister is a cosigner. poo poo has gotten rough lately and her credit report is getting dinged because of my loan. Is there ANY way to get these items removed from her report?
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Jul 13, 2012 20:25
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ashley posted:So, my boyfriend does not make the best choices. In 3/2006 he got a $5000 line of credit with Wells Fargo, which he stopped paying on in 9/2006. This April he received a letter from a law firm stating that they represent SACOR Financial (I guess a collector?) and that he had 30 days to pay the accrued balance of approx $10000 or legal action might be taken. He promptly ignored this letter. Written contract debts in AZ have a 6 year statute of limitations which is coming up soon which is why they're making the move to sue. The WORST thing you can do is ignore this. IANAL but pretty familiar with AZ debt collection laws. I think it's too late to DV the debt, that should have been done in April when he got the notice he ignored. If they're serving papers they probably intend to sue. I would recommend the boyfriend contact a competent attorney. You could go to court and Wells Fargo might not be able to prove anything. They also might settle for 10 or 15 cents on the dollar. Remember though, ignoring it is the worst thing possible. He ignores this, doesn't show up for court, they win by default and he gets slapped with a judgement for the full amount plus interest. cr0y posted:I have a student loan with wells fargo and my sister is a cosigner. poo poo has gotten rough lately and her credit report is getting dinged because of my loan. Is there ANY way to get these items removed from her report? Nope, she's hosed to put it bluntly. If you can't pay it's up to her to pay, that's the whole premise behind a co-signer. If she has great credit she might want to explore helping you out with this until you can pay her back. Talk to your sister about it.
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Jul 13, 2012 21:01
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skipdogg posted:Written contract debts in AZ have a 6 year statute of limitations which is coming up soon which is why they're making the move to sue. I am paid up, the money isn't the issue, I don't want her credit affected.
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Jul 13, 2012 21:41
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cr0y posted:I am paid up, the money isn't the issue, I don't want her credit affected. Has her credit been affected yet? If you pay late, it'll show up as a late pay on her report. Most places don't report late pays unless it's 30+ days late though so her credit might not even be affected. But to answer your original question there is no way to get her off of those, short of refinancing the debt.
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Jul 13, 2012 22:28
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