How do they know-- is it legal?
Date: Fri, 01/18/2008 - 18:53
Dear Erica -----: We believe you have recently obtained a new credit card.
They then proceed to attempt to convince me to transfer my outstanding debt to the new card, and if I do so by a specific date, recieve a 25% reduction on the total owed. My question is how are they in the know of my newly aquired credit card, and is this a typical practice? Is it an invasion of my privacy or consumer rights, or simply someting that appears on my credit report? I am attempting to rebuild my credit, pay off old debts, and have in fact recently obtained a new credit card.
Legal. They can pull your credit report, if they are collecting
Legal. They can pull your credit report, if they are collecting one of your debts.
It would also be legal for you to send them a cease and desist letter, if the debt is truly beyond the statute of limitations.
they probably saw your credit report. ask them that if you dont
they probably saw your credit report. ask them that if you dont transfer your loans on the new credit card as they are suggesting, then what happens? as you said the credit card belongs to 95-96, ask them what has to be done if you want this matter solved separately, considering the fact that you do not want to go into complications with your new credit card.
Erica They watch your report with eyes of a hawk, if you decide
Erica
They watch your report with eyes of a hawk, if you decide to deal with them. There are things that you should be aware of.
collection agencies can be just down right rude and ignorant, I think a lot of the collectors work on a commission basis. The best thing to do is to get to know your rights and as soon as they cross the line, let them know that your are aware of your rights and that you will not tolerate the behavior from them, if they persist, tell them that you want all communication from that point on to be in writing.
One of the first things that you should do is to make them validate the debt, they must prove that you owe them the debt, if the debt is already charged off on your credit report, then what is the benefit of dealing with these guys anyway? Is there a settlement negotiation available with terms that state that they will update your credit report once the matter is settled, get it all in writing. Requesting debt validation will also ward of the phones calls for at least 30 days.
I am unsure if it is charged off on my credit report, however, t
I am unsure if it is charged off on my credit report, however, the SOL is 4 years in Texas. I don't believe this old debt is affecting my credit any longer, as, to be honest, I actually recieved 3 new credit cards last year, all of which were used in regards to Christmas expenses and will be payed off in order to repeat the process next holiday season. Not the best strategy to rebuild crdit, I know, but when only used a specific time of the year, it works for me and keeps my spending habits in check and theft issues at bay.
As long as you can pay them off in a reasonable time frame, no p
As long as you can pay them off in a reasonable time frame, no problem.
If you use over 30% of your available credit on a credit card it
If you use over 30% of your available credit on a credit card it hurts your credit score.
Also, a debt doesn't go away because the SoL expired or it's fallen off of your CBR. They can continue to pull your credit report (within reason) with an inqury that will stay on there for 2 years and it will affect your credit score as well. They can also continue to collect on it as well.
FYI, is there any standards that protects consumers from abusive
FYI, is there any standards that protects consumers from abusive inquiries? Such as a CA using multiple inquiries on a regular basis to damage the persons FICO score.
I know that we only pull a credit report once. I think that more
I know that we only pull a credit report once. I think that more than twice a year is abusive but I could be wrong.
Perhaps I should forward this question through proper federal ch
Perhaps I should forward this question through proper federal channels.
Jcemt, I have read many complaints filed for multiple pulls,but
Jcemt, I have read many complaints filed for multiple pulls,but the buzzards settle it out of court to avoid case law.
If they were to do that to me, I'd pursue it in court so it come
If they were to do that to me, I'd pursue it in court so it comes to light. I would also file complaints through proper legal channels.
If you are in Texas, use Texas Law to back you. Demand validati
If you are in Texas, use Texas Law to back you. Demand validation from them. In Texas they give a CA 30 days to respond, if they do not..then you can give them a written notice, then take them to court for triple damages.
my opinion is that more than once a year.. is indeed abusiv
my opinion is that more than once a year..
is indeed abusive
and an explanation as to why you might have been abused is a topic that certainly needs to be answered!!!!!
I'm going to suggest it for a future FTC workshop.
I'm going to suggest it for a future FTC workshop.
Wow, good for texas for protecting its consumers like that. I wi
Wow, good for texas for protecting its consumers like that. I wish all states would make them step up to the plate like that, it would stop the endless abuse on the consumers.
Some of these collection agencies can be just down right rude, they break all the laws and you would think that you borrowed money off of them personally. I guess you could say they are passionate about their work. LOL, in a bad way.