Valkyrine Posted February 6, 2005 Report Share Posted February 6, 2005 I needed to settle a JC Penney account; I called JC Penney and they referred me directly to the CA Arrow. I called (I know, just slap me now!!) and spoke with collector dude. I talked him down to the original amount I owed JCP, not the amout Arrow wanted ($100 more). Here's my question: we argued back and forth about deleting this account from my CR. Arrow is NOT currently on any of my CRs; he didnt know that. He told me I could send a letter to all three CRAs with his contact info, and he would have it removed for me. IS THIS POSSIBLE? Or did he just blow smoke up my a$$ to get my money??At any rate, I agreed and made payment; this debt is mine and I wanted to settle it. I figured once it was paid I could dispute with "wrong amount" or something along those lines if and when it did show up on my CRs.Grrrr... did I just set myself up??Any help/advice/suggestions?? Thanks guys!!!V. Link to comment Share on other sites More sharing options...
DocDon Posted February 6, 2005 Report Share Posted February 6, 2005 I needed to settle a JC Penney account; I called JC Penney and they referred me directly to the CA Arrow. I called (I know, just slap me now!!) and spoke with collector dude. I talked him down to the original amount I owed JCP, not the amout Arrow wanted ($100 more).Are you sure Arrow doesn't now own the debt? Arrow buys bad debts. And like all JDB (Junk Debt Buyers) probably paid pennies on the dollar for the debt.If this is the case, you got no deal at all, and he's probably laughing his rear off because you think he did you a favor.Here's my question: we argued back and forth about deleting this account from my CR. Arrow is NOT currently on any of my CRs; he didnt know that. He told me I could send a letter to all three CRAs with his contact info, and he would have it removed for me. IS THIS POSSIBLE? Or did he just blow smoke up my a$$ to get my money??If that's how it worked, it would be great. Sadly, it's not. His contact info means nothing to the CRA.At any rate, I agreed and made payment; this debt is mine and I wanted to settle it. I figured once it was paid I could dispute with "wrong amount" or something along those lines if and when it did show up on my CRs.Grrrr... did I just set myself up??Any help/advice/suggestions?? Thanks guys!!!V.You can ask Arrow for the amount they paid for it, and all sorts of good information. This case has their name on it:Coppola v. Arrow Financial Services, 302CV577, 2002 WL 32173704(D.Conn., Oct. 29, 2002) – Information relating to the purchase of a bad debt is not proprietary or burdensome. Debtor must phrase their request clearly to obtain: The source of a debt and the amount a bad debt buyer paid for plaintiff’s debt, how amount sought was calculated, where in issue a list of reports to credit bureaus, and documents conferring authority on defendant to collect debt. Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 6, 2005 Report Share Posted February 6, 2005 yep ur rite u should have not call them. theyll tell u anything dealing with the credit bureaus they want the company letter head and the letter signed. next time have them to sent the letter first then send the payment. Link to comment Share on other sites More sharing options...
Valkyrine Posted February 6, 2005 Author Report Share Posted February 6, 2005 OK, can I still DV them? Payment will not go through until Wed., Feb. 9. Can I salvage this or should I just let it go??Chalking up "life lessons" left and right,V. Link to comment Share on other sites More sharing options...
DocDon Posted February 6, 2005 Report Share Posted February 6, 2005 In order to make that work, you'd have to put a stop payment on the funds you're sending them.Did you check the SOL on this account? Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 6, 2005 Report Share Posted February 6, 2005 OK, can I still DV them? Payment will not go through until Wed., Feb. 9. Can I salvage this or should I just let it go??Chalking up "life lessons" left and right,V.how did u make the payment? Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 6, 2005 Report Share Posted February 6, 2005 yes u still can u should try to get it deleted can u stop the payment Link to comment Share on other sites More sharing options...
DocDon Posted February 6, 2005 Report Share Posted February 6, 2005 When did you last make a payment to JC Penny? If the SOL has expired, or you specifically request what's in Copolla, you can either tell them to go fly a kite, or put some money back in your pocket.It's up to you. If it's not reporting, and you need to get this cleared up (ie: for a mortgage), then let it fly. Link to comment Share on other sites More sharing options...
Valkyrine Posted February 6, 2005 Author Report Share Posted February 6, 2005 Yeah I can stop the payment; used a check by phone. SOL is nowhere near up... I will check the threads for an address for Arrow to send DV.Thanks DocDon and michigangirl530, I appreciate your help.V. Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 6, 2005 Report Share Posted February 6, 2005 It's not reporting.my bad Link to comment Share on other sites More sharing options...
DocDon Posted February 6, 2005 Report Share Posted February 6, 2005 I confused myself right out of a couple answers too michigangirl. No harm, no foul. Link to comment Share on other sites More sharing options...
Valkyrine Posted February 6, 2005 Author Report Share Posted February 6, 2005 I'm trying to fix my credit, I'm not applying for anything special. Just trying to get stuff in order for the future.I was hoping to catch them and pay before they reported to the CRAs, thinking it just might never show up if I did. Wishful thinking, I know. Thats what I get for thinking!! LOL.V. Link to comment Share on other sites More sharing options...
DocDon Posted February 6, 2005 Report Share Posted February 6, 2005 O.k. well, there's no guarantee then if you stop payment that they won't report it then...Ever been between a rock and hard place before? Link to comment Share on other sites More sharing options...
Valkyrine Posted February 6, 2005 Author Report Share Posted February 6, 2005 LMAO Doc. You said it.I've spent most of my adult life between a rock and a hard place. You would think I'd be thinner for it.I need to think about how to handle this one. To stop payment or not to stop payment? Hmmmm. I'll keep you posted.Thanks again. V. Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 6, 2005 Report Share Posted February 6, 2005 O.k. well, there's no guarantee then if you stop payment that they won't report it then...Ever been between a rock and hard place before? docdon the dv should stop collection activity in case they checked the reports after payment and find out its not on there? Link to comment Share on other sites More sharing options...
DocDon Posted February 7, 2005 Report Share Posted February 7, 2005 Correct.... but since they may now own the debt, they could turn that information over to the poster and then list the account after validation was provided. Kinda a step backwards I would think..... Link to comment Share on other sites More sharing options...
michigangirl530 Posted February 7, 2005 Report Share Posted February 7, 2005 Correct.... but since they may now own the debt, they could turn that information over to the poster and then list the account after validation was provided. Kinda a step backwards I would think.....u no i was thinking i had an account in collections and paid it first not knowing then sent dv they deleted it was sherman guess i was lucky Link to comment Share on other sites More sharing options...
DocDon Posted February 7, 2005 Report Share Posted February 7, 2005 If it were me, I'd put a stop payment on the check and DV them per Coppola v. Arrow. There's nothing to say they won't report this as a settled account after receiving payment.If it's found they in fact paid mere pennies on the dollar for the account, I just saved myself some $ to put toward other debts.That's my personal thought.... Link to comment Share on other sites More sharing options...
Valkyrine Posted February 7, 2005 Author Report Share Posted February 7, 2005 Thats pretty much what I had decided to do, DocDon. I have already stopped payment and plan to send out DV in the next couple of days. Thanks again. V. Link to comment Share on other sites More sharing options...
Valkyrine Posted March 9, 2005 Author Report Share Posted March 9, 2005 Just an update on this situation for anyone that might benefit...I did stop payment. I called the collector dude and told him what I had done, and when he asked why, I told him it was because he had lied to me.We went back and forth for a while; apparently, Arrow had owned this account since Nov. 2004. And never reported. Never sent me anything. So... I talked him down to a lower dollar amount, certainly more than Arrow paid for it but less than the original amount of the debt. I received a statement showing this as paid in full. The payment went through and has not reported to any CRA as yet. If I had done things differently, I could have paid a far less amount and not had to worry about it possibly being reported to the CRAs. If it shows up now, I assume I can get them on failure to notify reporting. I feel better for having paid this debt; that was my intention when I set out on my credit repair. I wanted pay-for-deletes. Now, I realize how difficult that can be with certain CAs. I backed myself into a corner on this one. For anyone that's new at this, the moral of the story is don't call a CA. Do and get everything in writing - upfront. Val Link to comment Share on other sites More sharing options...
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