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Newbie seeking advice


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Ok, a little background before I get into the detailed stuff:

Current CR =

Shows 3 accounts total

1. My car loan - all good, all on time - all 3 bureaus

2. A CC with a 1500 limit with appx 200 free - all 3 bureaus, all current

3. The account in question ( an account with a nationwide mall chain store )

For this account, I opened it in late 2000 or so 6/00 to 10/00 somewhere around there.

I got into an dispute over the quality of the item, and it never went anywhere - despite calls to companies home office/ managers, etc...

Last payment was in early 2001 3/00 - 4/00 or thereabouts, no later than 7/00.

I've done nothing with the account since, as I was a bit stupid/un-educated

It was apparantly reported to all 3 as a charge off, I will enclose a picture at the bottom, I merely edited out the amounts/name as it does'nt pertain to my questions.

I've recently signed up for PG, and am showing scores from all 3 in the low low 500 range.

My other two acounts, the car loan and the CC are in perfect standing. Car loan is 3.5 years old, CC is about 2 or so.

I did have one other account, which was not mine, and was removed some time ago with the help of a friend who pointed me in this direction in the first place :D

Here's the pic to illustrate and hopefully clarify as I know that ^ was a bit convuluted above.

Also - this from the OC, has not been reported to a CA

Ok, questions

1. What would be the best route to go, in terms of having this removed.

2. EQ shows it as being open, when down below it shows charge off/bad debt etc... ???? wt??? :?:

3. Under the history, I'd seen my buddies CR, and was'nt aware that they reported it every 30 days? Is that right, or is something off?

4. If I do get it deleted, what are the odds of keeping it that way / any tips on achieving a permanent deletion?

Thanks for any/all advice, this board's been a wealth of information thus far.

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Also wanted to add that I have spoken with them once in the past two years and there is ZERO chance of having it removed. I would'nt want to do the settlement they offered anyhow due to the 7 year stuff (they would not delete).

See I learned something :D

EDIT:

Also, I know the last payment I made was sometime in 2001, yet it's being reported as 2002, Even with the 180 days, there's no way at all that 2002 was the DOLA.

EDIT 2:

I dont think it would do me any good to disupte as not mine - as the few payments I made on it before the disagreement, were paid with a check card - that would sink my ship right there correct?

Thanks

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I was under the impression that using the debt validation procedure with this particular account the only way I would possibly get what I need for a deletion is

1. They did'nt respond

2. They did'nt have any proof /records

In my particular scenario, and based on prior stuff with this company, these seem highly unlikely.

I was moreso interested in wether anything in that picture, such as it being reported open on EQ would be enough to secure a perm deletion?

Also, something I'm confused about and need a clarification on, from the How long do negative items stay on my credit report section:

"The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account. Some collection agencies update their reporting status on you to keep the account active with the bureaus to extend the time the account appears on your report."

Regarding the agencies updating their reporting status on you to keep the account active? Is that what they're doing with the 30 day marks/updates or is that perfectly normal and acceptable.??

I have read the sections, I'm just new to this and it's a bit to take in - just looking for a few clarifications

Sorry if I came across as having not read or tried to do any of the work myself

Thanks

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Answers to your questions:

1. Wait on this one for now.

2. You could dispute with EQ as they are reporting incorrect information.

But, due to the way you describe this outfit, they more than likely will

respond and update to the correct status.

3. Some companies report monthly by electronic tape. This is legal and

is why your CR shows a current "Last Reported" date.

4. This one is a tricky. You may get it deleted if the company fails to

respond in the 30 day period, but, if they report monthly, it will more

than likely show up the next month, which means you must rely on

the CRA NOT sending you a letter of "Reinsertion", which, if they did

fail to do, will cause the TL to be deleted permanently. Then again,

the company may just let it go.

Your mention about DV will not work unless your State says so. If your State says the OC is liable under the FDCPA, then it will work. If not, it won't. They do not have to validate. If you sent them a verification letter, they MAY respond, but, you and I both know they can prove the account.

As to your problem, you mentioned it was from a chain of stores found in Malls. If this is true, your best bet is to send a very stern, professional letter to the Corporate Office. It does not matter if "your" store is Franchised or not. Call Corporate and find out who you should address it to by telling them you have a complaint as one of their stores is selling defective items and refuses to replace, or whatever fits your situation. Then send it CMRR with a Restriction to this person only. Explain everything exactly as it happened, including the dates, names, and whether it was by mail, phone, or personal visit. Then state what you wish to occur for this to be settled amicably between both parties. Also tell them you will await their response before filing your complaints with the BBB.

Your intent is for them to honor their product, either offer a replacement, or void the sale. Most of all, they must delete in it's entirety their negative information from all CRA's. If this is a service, such as a 2 yr contract for them to perform certain duties for you, then you would want the contract voided, account closed, and all negative information deleted. Ask for a full refund, but, if they balk, tell them they may keep what you have already paid because all you want is for them to be out of your life. By saying this, they will usually cede because they do not want you out there badmouthing their company. And, yes, you do have the right to tell anyone about your business dealings with this company. In fact, you can stand on Public Property right in front of the store and wave a banner. The numbers used to be that only 4 people will spread "Good" while 7 will spread "Bad". Those numbers for "Bad" are now around 10. Remember, you are the cheapest advertising they will ever pay for. And this means even bad experiences that they stood up to and corrected. Do not threaten to spread "Bad" word in your letter, just make them aware you will file a complaint with the BBB. Mind you, the BBB can not force them to do anything. All that happens is a letter of complaint is sent to the company for them to respond to within 30 days, and should include how the situation was resolved and was the consumer happy with the results. If the company fails, they get a "unsatisfactory" mark in their file. If they come through, they get a "Satisfactory" mark. I am just letting you know these things so you can compose your letter to demonstrate your professionalism and desire to settle this matter amicably for both parties.

If Corporate does not assist you in this matter, then you can send a "nasty" to them, which would include the verbiage as to writing an aritcle in the "Public Forum" of your local newspaper and all other newspaper in the State. In short, you start pushing.

Now for the finale. Before you sit down and compose your letter, you need to check your State's Laws as to "Lemon Laws" or Bad Services and the like to see what they are and how long you have to act on them. Due to the time you have mentioned, any recourse probably has already expired, but, check anyway to see what there is.

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Thanks a million retmar

I have a few more q's for retmar or whomever wants to offer advice:

1. Regarding wether or not my state says the OC is liable under the FDCPA, I lived in Maryland at the time the acct was opened and initially reported - however I now reside in North Carolina - which would be applicable.

2. Thoughts on waiting till the holidays to do a DV.

Thanks again

EDIT:

Was just looking through some papers, and came across a bill dated

March 30, 2004 - I noticed my balance on this bill is about 50 dollars higher than what it is on my reports, dont suppose that's enough to help on any deletions, especially since it's Higher :/

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Use the one where you now reside as their reporting negative information monthly keeps any violations within the SOL for you. Remember, if they wanted to sue you, they must sue in the county you live in.

As to the Holiday period. From Thanksgiving to Christmas, all CA's, CRA's, and many other companies and corporations have personnel off on Vacation, Sick Time, Early Out, or whatever causing them to be short of staff. You would mail your disputes within a couple days of thanksgiving, which means they must have the investigation completed and update sent out by the week between Christmas and New Years. Since they are short of staff, many disputes do not get verified, or, the CRA may not even dispute and delete the TL. It is not a gaurantee of deletion of all you dispute, it is just putting the odds in your favor, so to speak. Some have had good results while others have had limited, or no result.

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