tamubh Posted June 21, 2005 Report Share Posted June 21, 2005 I just had some blasted moron from Global Acceptance Credit Corporation tell me that I have been consistently disputing a valid debt and this can cause my credit score to go down 7 pts. everytime I do that. Is she for real? Link to comment Share on other sites More sharing options...
nevermore Posted June 21, 2005 Report Share Posted June 21, 2005 Not exactly, usually a dispute won't cause your score to go down. I have seen scores go down though when the status date or date reported changes.......... this would only be the case for an acct that wasn't updated monthly and the score drop would depend on the length of time between the changed dates. This is because FICO and some other scoring models read it as new. Link to comment Share on other sites More sharing options...
divemedic Posted June 21, 2005 Report Share Posted June 21, 2005 Record that. It is most probably a violation. They arent allowed to threaten you for executing your right to dispute. Link to comment Share on other sites More sharing options...
Alexander Posted June 28, 2005 Report Share Posted June 28, 2005 Global Acceptance Credit Corp is a Collection Agency (CA). So you probably should not be talking to them on the phone in the first place. http://www.fortworth.bbb.org/commonreport.html?compid=A1070167If disputing the debt causes the date of status or the date of last activity to change, then that could lower your score. How have you been doing the dispute? What type of item are you disputing? And how many times have you disputed it?When I loose a dispute they usually just add "verified no change" and the date of verification. All the other dates stay the same so there is no effect on my credit score. Link to comment Share on other sites More sharing options...
tamubh Posted June 29, 2005 Author Report Share Posted June 29, 2005 They called me. I am not going to run from them. The debt they claim is for $735. I offered them $350 and they said the lowest they will go is $512 or payments of $30 or more. Link to comment Share on other sites More sharing options...
Alexander Posted June 29, 2005 Report Share Posted June 29, 2005 It's not a mater of running from debt. It's just that no good usually comes from talking to CA's on the phone. The offer they gave you is 69.66% of the total debt. That's not bad. If it is your debt and you want to pay it and you want to skip the validation process you could send them a debt settlement offer. You should not sign the letter. You need them to sign it and then you send them a money order for 100% of the debt. Are you sure that the CA owns the debt? If not, call the original creditor and ask if they still own that account or if they sold it and to who did they sell it to.Payment plans with CA's are a big no no. That's not an option. And never ever give a CA you bank account (transit) numbers.If you wanted to offer 80% or 100% they might go for deleting the account off of your credit reports. Link to comment Share on other sites More sharing options...
Recommended Posts