CREDIT RUINED BY NCO FINANCIAL
Date: Sat, 03/14/2009 - 00:26
I'm new to the collection agency trap and need advice.
I received a collection letter from NCO Financial Systems in September 2008, demanding payment of $120 for an unpaid debt I had absolutely nothing to do with. I called them the same day and tried explaining myself, but, of course, they refused to listen and hung up on me. To my surprise, in February 2009, I discovered they erroneously placed the collection on my credit report which was a problem when my husband and I applied to refinance our home. As a result, the house was refinanced under my husband's name only due to my new bad credit. It would have cost us approx. $5k more in fees if my name/credit was included in the refi. paperwork.
After investigating the matter, I discovered my stepmother was actually responsible for the debt. Unfortunately for credit purposes, we both have the same first name and her current last name, is of course, my maiden name. I haven't used my maiden name in over 10 years.
Fortunately for me, she realized the debt was hers and she paid the CA right away. I have a copy of her credit card payment as proof containing the account number related to the debt. The account number is the same account number on my collection letter that I kept.
I'm in the process of writing a letter of deletion to the CA and will included copies of proof supporting my position. Any information anyone can provide me ranging from how to handle my situation to the proper way of handling any violations, including law suits if applicable, will be greatly appreciated!
Thank You in advance!
I received a collection letter from NCO Financial Systems in September 2008, demanding payment of $120 for an unpaid debt I had absolutely nothing to do with. I called them the same day and tried explaining myself, but, of course, they refused to listen and hung up on me. To my surprise, in February 2009, I discovered they erroneously placed the collection on my credit report which was a problem when my husband and I applied to refinance our home. As a result, the house was refinanced under my husband's name only due to my new bad credit. It would have cost us approx. $5k more in fees if my name/credit was included in the refi. paperwork.
After investigating the matter, I discovered my stepmother was actually responsible for the debt. Unfortunately for credit purposes, we both have the same first name and her current last name, is of course, my maiden name. I haven't used my maiden name in over 10 years.
Fortunately for me, she realized the debt was hers and she paid the CA right away. I have a copy of her credit card payment as proof containing the account number related to the debt. The account number is the same account number on my collection letter that I kept.
I'm in the process of writing a letter of deletion to the CA and will included copies of proof supporting my position. Any information anyone can provide me ranging from how to handle my situation to the proper way of handling any violations, including law suits if applicable, will be greatly appreciated!
Thank You in advance!
Hi JV09, Send all that info to the credit reporting agencies
Hi JV09,
Send all that info to the credit reporting agencies and request them to remove the offending mark from your credit reports, by filing a dispute.
Here is a good thread: Dispute Process.
Here are the dispute links to the CRA's:
"http://www.experian.com/disputes/"
"http://www.transunion.com/corporate/personal/creditDisputes.page"
"http://www.equifax.com/answers/correct-credit-report-errors/en_cp"
Hope this helps, please keep us posted.
chrys
