National Payday Loan on credit report

Quote:

Check out your old statements. You might be having loans from them. But, if you are unsure of the entry, dispute it with the credit bureaus.

I hope this is not a duplicate posting. I have tried to submit this post several times today but do not see it. I pulled a copy of my credit report and noticed a collection agency out of Florida is posting an outstanding debt to National Payday Loan. I have never had a loan with National Payday. Does anyone know if they have ever gone by another name? It is also for a big amount and I know I never had a loan that large.

Quote:

Quote:

National Payday Loan is also known as Ten Dollar Pay Day.

Name of collection agency is Peak Financial Services. I have never had a loan with Ten Dollar Pay Day. I know these places change names a lot but the amount is also questionable. I have never had a loan this size.

One more thing I might add is I have never heard from Peak Financial Services. This was reported on my credit last April.

I can dispute it on my credit report. Should I also send a letter to Peak?

Dispute it with the credit bureau as not yours.

Click the link below for a sample dispute letter:
http://www.debtconsolidationcare.com/letters/sample13.html

Thanks for the link Shazzers. However, the letter mentions including proof this is inaccurate information. How do I do this if I never had the loan?

Just dipute as not yours. That is for inaccurate account balances, etc. The burden of proof is on the CA.

I disputed this entry on my credit report. I received a letter from Peak Financial indicating they have advised the credit report that "verfied as reported." The letter also says they can offer a settlement. It also says it I feel this matter is not mine they would be happy to investigate and report their findings. Finally,they said every time I report it to the credit bureau, t heir answer will remain the same "verified as reported." I have never had a loan with anyplace called National Payday Loan.

How do I respond to this collection agency? If I send a debt validation letter, will they be forced to prove to me it is my loan? It is for roughyl $2k. I have never in my life had a payday loan for $2k.

I would appreciate any advice you can give. Thanks.

One more thing ... t he letter said for me to contact them to discuss but shouldn't I keep this all in writing?

This is an update to a post I put on here a few months back. Peak Financial has reported me to the credit bureau for a loan to National Payday Loan. I disputed this on my credit report as I do not believe I have ever had a loan with National Payday (although I understand on here they go by several different names). I am now getting calls from this collection agency saying they are required by law to follow up with me on my dispute. Is this true? Do they have to follow up on a dispute or is this a collection tactic? I have read about this collection agency on the web and they do not have a good reputation. I am concerned that calling them back will only result in frustration as they will insist I owe something I do not. I have not had any internet payday loans since 2003. I want to pay what I owe but I have not had a loan with these people. Any advice? Thanks.

I have never heard of a collection agency following up with you on a dispute I would assume it would be the credit reporting agency. That sounds fishy and I would file complaints and reports.