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Re-aging debt & incorrect CRA info

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Hi guys. First time poster here so please bear with me.

I have 2 entries on my CR for the same debt. One is from the OC First USA Bank. The other is the CA Sherman Acquisition. Debts listed with Sherman is $3667. First USA lists debt as $0. Original credit card debt was $2000. I haven't payed anything on it in 9 years. I was hoping someone might be able to give me some help with my problem.

The OC has its charge-off date in 1999 although I haven't paid on it since at least 1995. One CRA told me that I needed to supply a last payment date for them to verify with the OC. Another told me that I had to contact the OC myself.

Two CRA's told me that it was perfectly legal for them to have multiple entries of the same debt as it "shows a trail of debt". I thought there was only allowed one entry per debt.

I have tried to contact Sherman twice asking for a break down as to how they determined how much I owe them. They were only interested in my full payment, refused to help whatsoever and called me names on both occaions.

What should I do?


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You have the right to dispute credit entries with the OC as well. Use the same 1-2 punch procedure as you do with a CA, but DO NOT send the OC a DV letter. Instead, ask for complete account history that shows the exact date the account went delinquent as well as signed agreements, etc. Send this letter CMRRR as well

When the green card returns, dispute the account with the CRA's. You are trying to use FCRA §623 as leverage. If the OC does not note the account in dispute, you will have them on one violation per credit report ($3,000).

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Hi Sring,

I just wanted to say a big hearty "welcome" to you! These boards are all great boards and there is much to gleen from the postings/responses. I've even gone pages back to see if I could gather info and it has helped a lot.

The only multiple listings I thought they were "allowed" to do was one for the OC and one for the CA. If one CA no longer has the debt I can't imagine that it's legal for them to continue reporting it on your CR and at some point though you'd see a new entry w/ a new CA with that debt. You have the right to demand a validation from the CA that has this account though and you have the right to request how they've arrived to their final "amount." Keep in mind, the OC may have added interest and other fees and the CA may have added their costs in to--that could be why it's where it's at. (Just a thought) On the other hand, I recently had a debt change hands (CA to CA) and the amount went DOWN so go figure! LOL!

I agree w/ the other responses and I wanted to add that you shouldn't give up and you should stay on target. Also, although it may not be helpful to your predicament per se I honestly do feel you should report the CA to FTC, BBB and their state attorney general offices (as well as yours if possible). How you were treated was awful--make sure to note what happened in a journal type entry that way you can work from that when you're reporting them (have the names of who you dealt w/ if possible along w/ dates/etc) but ALSO if they're attempting to collect on a debt past SOL you may have them on something anyway.

Make sure to view the list of "statute of limitations" which is in blue writing towards the top of each page. See what your states SOL is on credit cards (revolving accounts) and go from there.

My very best wishes to you.


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it appears first usa has sold the bad debt to sherman, who is in the nefarious business of buying bad paper and then hounding the debtor hoping they will be dumb enough to pay.

sherman pays pennies on the dollar for the debt, so they can expend some time getting thier paltry investment back. do not expect them to cooperate in any way.

try using the search mode above with "sherman acquisitions" and you will find many posts on this sore subject.

if you haven't paid on this account since 1995, you really need to get documentation of that. either your cancelled check for the last payment, or your bills from firstusa showing the last time a payment was made.

with this , you can send a cmrrr letter to each of the cra's demanding deletion of the tradelines (enclosing a copy of proof).

also, with this documentation, you can gleefully send sherman a "go suck eggs" letter along with a demand to cease and desist any further communication.

of course, if you want a paper trail to use in a law suit, dv sherman. they will be happy to oblige you with multiple violations of fdcpa.

sol in az on a cc is 3 years, so you are well out of range for any kind of collection action. even with the re-aging. however, the 1995 date gets you past the 7 year reporting period.

good luck

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Steve... Welcome to the board! (I grew up in the Denver area!)

First, the first thing I learned here was never, ever talk to CA's over the phone. They will just piss you off and chances are they'll be recording your every word (makes it easy to accidently incriminate yourself or commit to something you shouldn't).

That being said... It is perfectly legal for the CRA's to list a debt that has been sold several times, BUT very old debts are easy to get deleted. Especially in this techno-age when companies don't keep hard copies of their paperwork anymore. When a debt is sold, all records of the debt are supposed to go with it, and sometimes some or all of the paperwork gets lost along the way. This is what I did in the same situation. There were three listings for the same debt on my DH's reports (the cc debt had been sold twice). I wrote the OC, (who I knew had sold the debt to a debt buyer) and very nicely said I had just gotten my first ever copies of my credit reports and their company's name was on my CR's. I didn't remember ever signing a contract with them, could they please provide proof... (essentially a toned down DV letter.) When they didn't respond, I sent the second letter, again very nicely stating that I didn't remember signing anything that obligated me to a debt with them, and could they please quit reporting this debt, or send proof that there ever was a debt between me and them.

At the same time as you are nicely DV'ing the OC, also DV the CA that is reporting the debt. If it's been in their hands for more than a couple of years, chances are, they may have "misplaced" or destroyed the hardcopies of the original debt. Follow the recommended strategies on this site and you should be quite pleased with the results. Good luck and keep us posted!

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