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FCNB Question from a newbie


servantswife
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As some of you may know, FCNB decided to get out of the CC business. EQ is still reporting it as open with a high balance of $2424 and a limit of N/A. EX and TU show it closed by consumer with $2400 outstanding and limits of $3750 and $3800 respectively.

Is that a good thing?

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As some of you may know, FCNB decided to get out of the CC business. EQ is still reporting it as open with a high balance of $2424 and a limit of N/A. EX and TU show it closed by consumer with $2400 outstanding and limits of $3750 and $3800 respectively.

Is that a good thing?

No, it is never a good thing to have closed accounts, still reflecting balances, you want to dispute these, as paid as agreed. :? See, if you can get lucky that they update to make positive. If they are not showing status of course of collection or charge off, then if that is the case, dispute as Not Mine.

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Guess I wasn't clear. When I call up, the automated service says I have $0 available credit and still owe $2400 (which I am slowly paying off). I didn't actually close the account, they just told all us cardholders they won't allow us to use our cards anymore.

If I owe money, don't CRAs consider that an open account? I had a $3500 limit before they decided I can't use the card. Shouldn't FCNB be reporting it as such?

Do I dispute with CRAs or send a GW letter to FCNB? Or what?

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No, they don't have to report open, in this case since you say, they are no longer offering credit. This is was their choice to close the account. Actually is better that they are reporting that you closed the account - rather then reflecting that they closed the account.

Would of been nice if they would of left reflecting open statas as the one though.

May try good will, to see if at least on paper they will show this to be open until you get to pay it down completely.

But then again - I don't know all the particulars of this company, why are they no longer extending credit? If in furture tense if they will be able to follow through with all of their reporting. Are they going bankrupt?

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They may not be in a position to accomidate the consumers in this matter, unfortunately.

Sometimes when a creditor goes out of business, and accounts are still open good or bad - they might all get removed if they had been opened.

The ones closed can stay, but this is not good for anyone still holding a balance, if they shut down their reporting department before the balance is paid, it might just get frozen as such - balance / closed!

I suggest in this case, to move the debt elsewhere, before the reporting comes to a stop.

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As part of the judgement for this bank, the account receivables was placed in receivorship by the guaranteer(excuse spelling) and cardholders services of Old Bethpage, NY got the contract to collect these acct to satisfy the outstanding debt of the stores creditors. They changed the acct. numbers to accomodate their system; and you pay your bills through them. :roll:

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I have seen a few creditors do this, I am not sure why they should have this right to hide behind another creditors subscriber number but they have, this is misleading.

But on the other hand if they did do this right, then you would now be faced with the OC reporting transferred to another lender, and then a new tradeline by this company showing the new payment history with them.

Think that some hide on purpose, like collection agencies - that want to skip trace, but not give themselves away until the consumer makes the mistake of disputing the OC tradeline - that links instead back to them.

If a consumer is delinquent and trying to not pay, or be found they would not dispute the account, if they thought the collection agency was there watching for them, but if they don't see a collection agency and they think this is a done deal - then they will go for the bait in disputing the OC reporting. And boom, out of the wood work comes the collection agency.

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FCNB handled alot of other accounts. They did the same thing to my wife. They were very rude and shut down any consumer contact, would only accept mail, then never responded. Card Processing has now purchased these accounts. They are also very rude and have CSR's who don't know what they are saying, therefore, confusing consumers and causing unnecessary problems. Everyone needs to watch this company and their CR's very closely if they are being handled by Card Processing Center.

If everyone who is being handled by CPC will keep this thread going by sharing their experiences could possibly help all of the others. I will try and keep this going as my wife's account progresses, whether it is good or bad info.

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