Is this lawsuit material?
Date: Fri, 11/16/2007 - 16:01
I had an outstanding balance on a car loan with company "XYZ" for roughly $2,000 in penalties, which I disputed and refused to pay for almost a year (after having finished all monthly payments). A year ago, I was in fix-my-credit-report mode - and decided to address this balance. Unfortunately, "XYZ" outsourced the account to West Ass-hat Mgmt and said I could only deal with them. Long story short: Last November (a YEAR ago), West extended a settlement offer of basically 50% of the overall balance. I accepted, sent them a check, got my "settled in full" letter from West, and then went on to get my title released from XYZ (which I received in the mail shortly thereafter). I THOUGHT that was the end of the story... until today, when I checked my Equifax report and noticed that I have a line item from XYZ that shows the account as OPEN, with a past due balance of $30 bucks, and a last payment made date of 5/2007. Um, I haven't made any payments to XYZ in 2 years... I became hot under the collar and called XYZ about it... got a manager on the phone and she said something to the effect of "West Asset Mgmt has seemed to have missed a payment on this account" or something to that effect.... I went a little ballistic, saying that I had proof that both West AND XYZ both have confirmed this account to be settled and closed a year ago. She then said that she would contact West and see what has happened (but it was already past close of business on the east coast, so this will have to wait til Monday). But my question is..... does this sound like grounds for a lawsuit, either against West or XYZ??? I am livid to think that 1.) West failed to totally confirm the account as closed and settled to XYZ, 2.) XYZ failed to report this as settled and closed to the credit bureaus and/or 3.) this line item has been reported as delinquent, affecting my credit even more, even though I settled this damned debt one year ago!
In advance of my call with either the XYZ manager or a manager over at West on Monday, anyone have any thoughts?? *sigh*
r
PO'd, I'm certainly not an expert in this area. And I am sure someone with more expertise than myself can answer this in more detail. However, I just wanted to jump in for a minute and ask if you have disputed this with the credit bureaus? I had something hit my credit reports that was inaccurate also and disputed with them, all the while arguing with the reporting company, and did get it taken care of. There's an avenue you can try while waiting for Monday morning to roll around. I just did my disputes on line. The credit bureaus did an "investigation" into it. Between them and the company that hit my reports, it was deleted off my credit.
The whole impetus for this was after I spoke with Equifax about
The whole impetus for this was after I spoke with Equifax about this particular line item.... they said that they verified this past due amount with company XYZ.... i'd love to hear from some others before I call either the original lender or the CA they hired. Either way, I have proof from both entities that this debt was satisfied.
