debt reappearing with dif agency!Providian and Credigy
Date: Mon, 06/09/2008 - 17:32
I just received a phone call from a collection agency who claims that I owe for a Providian account opened in 1999. The only reason I remember that much is because I just got done disputing with Credigy, another collection agency, for the exact same account!
The disputes always came back "verified" from the credit reporting agencies, and Credigy never responded to any of letters requesting validation.
I just waited until the time had passed in which Credigy was allowed to report this on my credit report, which was only a couple of months.
I have gone 4 months with a clean credit report, and now it seems Credigy sold off the account to another agency.
Can this "new" collection agency now put another posting on my credit report for another 7 years???? That just doesn't seem quite right.
If not, what actions should I take? I would like to take care of it myself, but if I must, I will hire an attorney.
I also asked the man who called me to never call my phone or place of work, and only communicate in writing. He told me I had to write a formal letter in order for that to apply. Is this accurate?
I haven't even recieved a debt collection notice in the mail yet and they are calling me!!! As soon as I do, I'm writing a letter back!!! Grrrr........
Send them this letter, tailored to your individual situation, im
Send them this letter, tailored to your individual situation, immediately. Send it certified mail, return receipt requested, and remember to include the enclosure [FTC opinion letter].
Thanks! After I do that, what should my next step of action be?
Thanks!
After I do that, what should my next step of action be? I want to make sure this does not end up back on my report!
Sounds like they re aged the account to put it back on your cred
Sounds like they re aged the account to put it back on your credit report. That is illegal by the way.
Isn't it also illegal to put an entry on a credit report before
Isn't it also illegal to put an entry on a credit report before contacting a debtor in writing and giving them 30 days to dispute the debt? Seems like overshadowing to me.
You could try paying it. Just a suggestion though.
You could try paying it. Just a suggestion though.
What if the debt isn't mine? Or what if I paid it 6 years ago an
What if the debt isn't mine? Or what if I paid it 6 years ago and was irresponsible enough not to keep any of that info?
This is the ***only*** negative thing on my credit report, and I am almost certain this is not legit- if it is, I'll pay.
This comapny has definitley re-aged the debt- I have only recieved ONE phone call, and I just checked my credit reports yesterday- no negative entry (thank goodness)
How do I fight I collection agency that has re-aged a debt? I guess thats my biggest question. If I ever get a letter, I will send off a validation letter that day, I can promise that much! :x
Quote:You could try paying it. Just a suggestion though. FYI,
Quote:
You could try paying it. Just a suggestion though. |
FYI, you know that usually I agree with your great advice. however, this time I couldnt disagree more. When you send a DV request to a CA and they dont ever answer it, I do not recommend sending them one penny, regardless of if you know the debt is legit or not. Remember, it isnt only the debt that we need to be concerned about verifying--its also whether or not the collector has the legal right to collect it. Its happened more than once where the CA didnt have any right to collect and ended up stealing money from consumers. If a CA is legit, they should have no problem living up to what the law requires, period. And until they do, I wouldnt pay them one red penny.
If they re age it then dispute it, call the number at the bottom
If they re age it then dispute it, call the number at the bottom of your credit report and let them know that it's been re aged and is past the 7 year, 180 day reporting period. You can also file complaints against the collection agency through your state Attorney General's office and the Federal Trade Commission.
Quote:I just received a phone call from a collection agency who
Quote:
I just received a phone call from a collection agency who claims that I owe for a Providian account opened in 1999. |
The year you opened the account is irrelevant. What matters is the year that the debt was charged off.
Quote:
Isn't it also illegal to put an entry on a credit report before contacting a debtor in writing and giving them 30 days to dispute the debt? Seems like overshadowing to me. |
No.
Quote:
Can this "new" collection agency now put another posting on my credit report for another 7 years???? That just doesn't seem quite right. |
Seven years from date of charge off, not seven years from the date an entity placed the tradeline on your credit report.
Quote:
I also asked the man who called me to never call my phone or place of work, and only communicate in writing. He told me I had to write a formal letter in order for that to apply. Is this accurate? |
Accurate enough.
Thank you very much! The collection letter came today- It is fro
Thank you very much! The collection letter came today- It is from Capital Management Services, LP, and it says that they are collecting on behalf of arrow financial services, who must have bought it from Credigy, who bought it from Providian, or something like that.
I am sending the validation letter today, and will be watching my credit reports like a hawk. Are the credit reporting agencies going to be on my side when it comes to "re-aging" a debt?
I dont have a lot of proof, except maybe for old credit reports with the entry from Credigy showing the charge-off date. Is that pretty much all they will need from me?
Where can I find the law that says collectors cannot re-age a debt? I will probably have to cite it as well if it apprears on my credit report.
Thanks again!
Wrong!
7 year reporting period begins with Date of First Default...not....Date of Charge..charge off is an accounting term that means charge against income only and is a non-event for reporting purposes