Says Collection but no contact and Company Closed?

When you do a dispute,they must check with the data furnisher for correctness of data.They will have thirty days to correct or remove. If you are dissatisfied,send a letter demanding the bureau's method of verification procedures which is your right under the fair credit reporting act.

Write a letter to the collection agency to validate the account. If they are reporting to the bureaus legitimately, they need to give all information of the debt as it stands now before you send any money. And they must adhere to the FDCPA rules on collections.

If they are unable to verify the status, they should have the item removed from your credit report.

I had a cable company try and pull this crap with me quit a few years ago. I switched companies, the old company sent someone to collect the box, he did. And then they tried to charge me over $300 saying I never returned the box. I had a receipt. I also have a neighbor who witnessed the technician, jumping up and down, throwing the cable box onto the road busting it up after he collected it from her. What he didn't know is that she was inside watching him out the window and on the phone with the cable company describing his actions as they happened. Cable company was not pleased and amazing how they can send somebody out who is already in the area out when they want to. Guy was busted, busting up the box. Sorry to ramble. I hate it when these companies try to pull this one on people to get money. :twisted:

I wonder if you're describing a "revenue enhancement" project. I believe HSBC had one, I think random payer's checks would be held for a day or so in order to cause late fees to occur.