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Can i legally do anything

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Ok i'm really really upset over this.

And i'm ready to throw in the towel for good. Back in 2001 i had a collection account on my report it was from Kmart ---i called the collection agency (mrb-americheck national recovery) and i paid it it was returned check. As soon as they good the payment they removed it frommy report...Now the problem is it is back on my report as a paid collection under another collection agency called

americarecov. I called them today and asked why it was there that it was paid the lady said yes it has been paid and it will remain for 7 years as it is part of your credit history, I told her that i have a letter from the 1st collection agency saying that it would be removed she said well that is them we are not them --She told me that they own the other collection an it is no longer in buisness and they they now own the collection account...

She told me that the letter fromthem doesnot mean any thing.. I've disputed with T.u and they come back as verified. I had a excellent fico score with Tu of 650 on friday and today it back to 550 ....

I'm trying to get a mortgage and the places around here use all 3 reports but they base their deicssions on more then the other 2....What can i do... I need to get a mortgage by march 15 or i will have to look for other housing as our investor is puttting the house onthe market and we will need to leave when it is sold and the way that houses are selling around here it will go fast.....

I've talked with the broker and he told me that it needs to disappear from the report.....

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You have a letter saying that a previous CA THEY OWNED would delete the tradeline? You might want to sniff around that might be grounds for a lawsuit since they are re-reporting it. Hell send validation letters to the CURRENT CA in the meantime. This is a PAID collection they can get nothing more from you if you tie them up with paperwork at the very least you are wasting the CA's time/manpower/money handling your acct. Valdite and dispute..track any violations then sue..Bang! You might already have grounds for suing you might want to have a lawyers advice on that though...Did they re-age it also? They have to represent the debt honestly and correctly..The law is on YOUR side on this one.

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Tell the broker to bugger off.

You have good grounds for civil suit on this matter since the broker will not finance you, or if you do find financing you'll have a higher rate cause of it. Called 'disparity of interest rate'. I'm currently using this one against 3 CA's presently and having it verified and calculated by an Actuary.

The debt is paid and should have been removed and the debt settled. CA's do this crap all the time which is why I don't believe in CA's having any authority to report to CRAs as the original creditor.

If you have an agreement in writing that states this, contact the old CA and let them know that unless it gets removed, you will sue them for breach of contract and detrimental reliance. (look them up)

For the new CA, they have no REAL interest in this matter. Send them C&D letter, begin the validation and dispute process with CRAs. This will be necessary before filing any cause of action to court under FCRA 623 [15 USC 1681s-2(B)].

Oh by the way, were you notified by CRA that the item was reinserted?? Did new CA send you the 30 day notice? Possible violations right there to use as leverage for removal instead of lawsuit. If CRA's remove it, you may consider going after CA's.


[Edit by IronMan on Thursday, March 6, 2003 @ 02:27 AM]

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