Cygnet Financial Service aka Reliance Acceptance Corp:

[roni1116]

Cygnet Financial Service aka Reliance Acceptance Corp:

Is anyone familiar with these two companies? Back in 1995 my car was financed with Reliance Acceptance Corp. And then on January 11, 1999 I received a letter from Cygnet Financial Service advising me they have retained Reliance Acceptance Corp and that I will now make payment to Cygnet Financial Service.

During the spring of 2000 I had some financial challenges and I was three months late on my car payment. Cygnet was in the process of repossessing my car. I only owed them less than $2,000. I was able to gather the $1,859.09 I owed them. By doing this my car would be paid off for good. Cygnet advised me I would need to do a Quick Collect via Western Union. I did as they told me. Two weeks later I received the title to my car. I have not heard from them since. Of course this past March I decided to check my credit report and Cygnet is reporting the following:

Status Details:

Status: Account charged off/Past Due 90 days. $1,627 written off.

Charge Off as of 6-1999.

Date Last Reported: 6-1999

This is incorrect. The last activity should so sometime in 2000. I am looking at my Western Union receipt and it shows I made a payment as of 5/02/2000. I don’t understand. Experian is the only one coming back verified. TU and EQ deleted the account. Now that Experian has come back on 4/14/2003. I tried to dispute online again, however I am unable to process my dispute. Is this because I have already disputed and they have verified or do I need to wait 30 days after the investigation? Should I contact Cygnet and advise them on their mistake. Should my correspondences with Cygnet strictly be via mail? This is the only account that is being such a pain.

Thanks

Roni