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OLD PHONE BILL 1998 - CFC FINANCIAL LLC


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Hi Guys,

I need your help. I applied to get my mortgage refinanced and much to my surprise I was denied by Eloan due to a report pulled from Equifax Mortgage Services out of New Jersey (not Atlanta). Upon looking at my report, I noticed the following tradeline:

CFC Financial Open 08/2003 Amount 2300 original creditor SBC Michigan

I haven't lived in the state of Mi since 03/98. I'm thinking this is an old phone bill that finally caught up with me. The company then was named Ameritech, but Ameritech has since been bought out by SBC.

My question is two fold. Why is CFC Financial reporting this as a new debt (date opened: 08/2003) when this indeed is an old debt and when does the SOL start ticking on this account? I tried contacting SBC collection on this and was transferred to SBC final collections..which referred me to the collection agency. I'm currently living in GA, but the SOL for GA and MI for accounts of this type is 6 years.

This past Tuesday I sent off a debt validation to CFC Financial asking them to submit proof this debt is indeed mine and to prove they are to owners of this debt by submitting a sign contract with my signature that states the original credit (in this case Ameritech) can legally transfer/sell (not assign) this debt to a third party. Is this possible since Ameritech has been bought out by SBC and Ameritech no longer exisits?

In a parallel effort, I disputed this debt with all the major credit bureaus and the odd one - Equifax Mortgage Services out of Jersey. I'm hoping for good results. Any feedback is appreciated.

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I had(still have with TU & EQ) the same problem. I lived in Indiana back in 1998. I got it deleted from EX btw. I have also filed a complaint with the BBB since the are still reporting this debt but have yet to verify. Good luck. They cannot collect a debt that is out of SOL. Sounds like re-aging you want to ask Swede about this one..

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Technically I never opened an account with SBC Michigan, but the former company Ameritech (bought out by SBC). Pulling my EQUIFAX credit report, they are showing the last activity date of 07/1998. Can they collect since Ameritech was bought out by SBC? I have since validated with City Financial, anxiously awaiting their reply! I have a feeling they are going to try to stall on this one. I finally had my credit paid off..no negs.. and then here they come out of the blue!

What is the SOL for something like this? This site is reporting 6 years for the State of MI and GA, but I keep hearing people saying the account will stay on your report for up to 7 years? Can I write the Bureau say after 6 years if the SOL is indeed 6 years for GA (where I currently reside) and MI (where the account originated from). Please help!

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Check out this site www.creditinfocenter.com and you should find the SOL for the state your reside in currently and also when you had the phone with Ameritech. SOL simply means that they have a certain amount of time that they can legally collect this debt. For the most part all of these debts are out of SOL so if you must pay make sure you negotiate low and ask for complete deletion of this entry from your reports. AS far as the cRA's they will still report even if it is out of SOL. TRy sending a DV letter and then wait 30 days. If no response file complaint with the BBB, FTC and AG in their state. Good luck . I am still fighting this one.

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Ok.. CFC signed off on my registered mail as of 12/08/03. I have disputed with the bureaus they report to as well. Hopefully I can get this entry off my reports.

I'm really mad because my report is listening this account with DATE OPEN 08/2003. Can they do this? Do they have to report the last activity date? The last activity date (last payment missed + 6 months) is 07/1998.

If they bureaus come back and say they have verified everything (I have a feeling Experian will do this), can I dispute the "date opened" on the account? This is making creditors think I have missed a payment or I have a deliquent account in the past 6 months (not good). This is also affecting my FICO scores since the date opened is recent..

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Hey Guys,

They sent me a letter today dated 12/11/03 (3 days after they signed off on my original DV letter). Basically they state, "If it your intent to deny repsonsibility of this debt, please sumbit us one of the following documents dated at or around 10/28/1998 (the date this debt was created). They want me to submit any of the documents from 10/1998 - utility bill, tax return, or any other document stating my current residence during this time. They go on to demand a copy of my driver license and or social security number also as part of proof this debt is not mine. A computerize accounting of this debt was included from the original creditor as well (yeah right).

What do I do next? Send one last DV asking them to validate this debt (with legal contract bearing my signature) as well as official documents from the OC stating Asset is now the legal owner of this debt (not merely assignee to this debt?) If they do not respond to DV with proper valdation or delete the TL, send ITS?

Please advise.

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  • 3 weeks later...

Good News-

Removed from Equifax (no longer showing on pg since 12/30/03)..just now noticing

Removed from Experian (yeah baby!)

However, original credit place entry on Transunion (scumbags) and I disputed with Transunion the day it showed up on my report 12/19/03 .. only a few more days

I basically don't them to prove what they are reporting or let a judge decide.

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CFC are debt buyers , when they buy your debt you have no more obligation to SBC you now owe them or so they will claim. Most collection agencies are assigned debt thats the difference CFC may have bought your debt which and I'm not certain but may be the reason for the re-aging of the account. The same thing happened to me EXACTLY.

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You see they want you to send them documents to prove this debt isn't yours, see they know thats incorrect but thats how they operate smoke and mirrors next they will send you some improper validation I know this crew trust me! Save yourself some drama and file a complaint with the MI Attorney General.

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Much to my surprise I received a letter from Experian yesterday stating they verfied this debt with CFC Fiancial/Asset. Keep in mind I'm currently in debt validation with CFC and they have yet to validate this debt with me. This is what I did.

1) Sent off debt validation to CFC on 12/02/03

2) Sent off dispute with credit bureaus on 12/05/03

3) CFC signed off on the dv on 12/08 (green card in hand)

4) Received an invoice from CFC (improper validation), my personal information (birthday) was wrong on this invoice

5) Sent another request for DV telling them to send me nothing other than a SIGNED CONTRACT bearing my signature on 12/14/03

6) They signed off on this second DV 12/19

7) Received a letter from them on 12/24/03 stating they are waiting on documents (contracts, etc) to arrive from original creditor

8) I hear back from Experian yesterday 01/08/03 (barely beating the 30 day time frame) that they verified this debt with CFC

Question:

1) How did Experian validate this debt? Isn't it illegal for CFC to validate this debt with Experian if I'm in DV with them regarding this debt?

2) If CFC did validate this debt, isn't that a $1000 violation?

3) How can I get Experian to budge on this? They are known to investigate an item once and sit on it (refuse to investigatge again)! Should I send them all the correspondence between CFC and myself and point out the fact this company still can't prove they legally own this debt or the debt is mine, yet they are reporting it?

NOTE:

Although I received this notice from Experian, CFC is still not showing up on my PG report this morning. I have no entry from CFC Financial on my report. I noticed also my Equifax score yesterday was 644.. now it has gone up to 670 (I disputed a ton of inquiries yesterday)

What is the best approach?

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Unfortunately, there is no time limit for validation - it can take months.. or never ! They STILL have to cease collection activity and that includes reporting to the CRA's.

Yes, they are in violation by verfiying with the CRA when they have not validated to you. Send the CRA another letter, along with the DV letters you sent CFC and copies of the green cards they signed. They cannot verify with they have not validated.

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Thank you Lady. It going on 1 month now and they continue with the smoke and mirrors. I'm writing them another letter asking them to provide the contract bearing my signature within 15 days or I will file a formal complaint with the FTC, BBB, MI Attorney General, and the ACA.

In the meantime, I will take the sample letter provided her and included all correspondence with CFC to see if I can get Experian to budge. Experian always been a pain in the you know what..

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CFC is also a thorn in my side... they were originally listed on my EQ report, so I sent them a val. request. I have heard nothing back since then, but now they have added this account to my TU and EX report, with the notation of a dispute.

I believe this is a violation in itself, as per the CASS letter, could someone correct me if I'm wrong?

I contacted the consumer protection division in MI. They are not a liscenced CA in MI, but the lady said if they purchased the debt, they are now the OC...Bull. They are still a CA.

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  • 6 months later...
Guest KARENMW67

I looked on law dog and I thoguht that they were licensed in Michigan. My DH ha s a bill with them from MichCon (DTE ) and they sent us a computer printout. I sent them DV by CC and they sent a computer printout again. Now what? ITS letter ? I sent them the Wollman Letter and they just state that it doesn't exactely state that the computer printout isn't validating,that it goes around the issue. Now what ? How can I get them in a loop?

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CFC is also a thorn in my side... they were originally listed on my EQ report, so I sent them a val. request. I have heard nothing back since then, but now they have added this account to my TU and EX report, with the notation of a dispute.

I believe this is a violation in itself, as per the CASS letter, could someone correct me if I'm wrong?

I contacted the consumer protection division in MI. They are not a liscenced CA in MI, but the lady said if they purchased the debt, they are now the OC...Bull. They are still a CA.

Yes that is a violation. They cannot add trade-lines after receiving your DV letter until they provide validation. Go get 'em.

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I looked on law dog and I thoguht that they were licensed in Michigan. My DH ha s a bill with them from MichCon (DTE ) and they sent us a computer printout. I sent them DV by CC and they sent a computer printout again. Now what? ITS letter ? I sent them the Wollman Letter and they just state that it doesn't exactely state that the computer printout isn't validating,that it goes around the issue. Now what ? How can I get them in a loop?

Here's a great resource for Michiganders:

http://www.cis.state.mi.us/bcs_free/default.asp?profession=practice

Just select "Collection Agency/Agent" under Profession and you can look at their licensure.

Michigan has a clause, however, that allows a CA to pursue a collection if they have no clients in Michigan. How they figure anyone can find out that information is a complete mystery.

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Hi there

I have an almost identical situation with an old PacBell account. It's only showing up on TU. It's orignially from 04/98. TU reports two collection accounts, one from CBA from 06/98 for $198 and one from American Agencies for $369 from 12/03!!!

Obviously I want to get rid of this, but I don't want them to report it on the other CRAs.

Any thoughts?

Thanks

ed

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