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Consumer Statement - Is it worth it?


NefertitiX
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I'm not ready to file my lawsuit against A$$et but they are the most monstrous thing left on my CR. Would it be worth adding a consumer statement asserting that I have no idea why this item is on my CR and since this company refuses to communicate, consumer initiated litigation is forthcoming?

Soon I'll be applying for a mortgage and I don't think this will be resolved by then but I'd like make it known that I don't accept this account as mine and that I'm taking action.

What's the consensus on consumer statements in general? Do you think the above statement would accomplish anything?

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Did Asset list it in dispute on your credit record? They usually do not. If that is the case send a letter to the CRAs with copies of your DV request and the green cards. Tell them since they did not list it in dispute in a timely manner and refuse to answer your DV, they must delete it.

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The purpose of a consumer statement, in my opinion, is to give a potential creditor fair notice, that a problem exists with the reported information, therefore, do not act until discussed with the consumer. It will not cause a potential to ignore the TL entirely. It just gives you an opportunity to explain the 5 "W's", and the final decision will be given from that.

But, one thing to remember when you close on your house is that many lenders want a Zero Balance or total deletion before funding on collection accounts. Sometimes you may pay at time of closing by having the Escrow Company cut the checks, or use yours, and mail the letter for you. If you do it this way, I think, ask first, you have to pay this seperate of anything else. In other words, it does not get added to your loan. I have heard, but, no proof, that some lenders will allow you to place the disputed amount in an escrow account until such time as it is resolved. You may ask them about this. They do not care about violations or any other part of the matter. Their sole concern is that no one at time of signing is a threat as to placing a lien on the property, or, that an active Judgment exists.

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