PAID WITH SETTLEMENT - WHY ISNT IT GONE?

[keilitz]

I had a Target card that went to collections several years ago. In 2001 I settled with Target for less than the full balance. I have been receiving letter from a collection agency saying I owe the balance. I have sent them my letter of settlement several times and they stop contacting me for a little while then start all over again. When I receive another letter from them I always call and they tell me the same thing; they dont have any record of the letter and to fax them another copy.

I have contacted Target about this matter also, the first few times that I did they said they would contact the collection agency and take care of it. ( obviously that didnt happen)

This time however they told me that it has gone to an out side collection agency and that there isnt anything they can do. She said I would have to contact the collection agency. When I asked her why they are selling accounts that are already settled she said that she didnt have the answer for that. I then asked to talk to her sup. she said that I could leave him a voice mail. She then left me on hold for about five minutes and then came back on and asked me to fax the letter of settlement to her sup. so he could look into it.

I have been working on repairing my husband and my credit for a few years now and have been sucessfull at removing several things but I cant seem to get through to these people.

I seem to be getting the run around!

I would appreciate any help and advise anyone can provide.

[sifxpert]

What CA? You want to speak with someone in compliance. This happens all the time. Its really annoying...the "guilty until proven innocent thing".

I may have a good contact for you if you tell me the CA.

[keilitz]

The CA is Asset Acceptance LLC.

[Methuss]

Asset. Figures. Bunch of bone-heads.

First, file your complaint witht he FTC. Asset is under a consent decree not to do things like this. The more people that report violations of the consent decree, the more likely it is that the FTC will shut them down for good.

That said, you need to send the letter again two time, this time by certified mail with the first copy, and the second copy by US Postal "Proof of mailing." You do this so that if they refuse to sign for the certified one, they still get the one sent by PoM.

Tell them that the account was settled in 2001 and that they must cease and desist. Inform them that this is your x-time you have informed them to stop and that the next time, you are going to sue them for harrassment, FDCPA violations and FCRA violations. Tell them that they have 10 days to reply stating that they are permanently discontinuing contact with you, that they have removed any references from your credit report, and that they guarantee they will not attempt to pawn this off on some other 3rd party. Failure to reply will result in immediate suit.

Follow through if they ignore you. Asset doesn't play by the rules 99% of the time, and they have quite a record with the courts in nearly every jurisdiction for being sued...and loosing.

[sifxpert]

I definitely agree with Meth. If I would have known it was Asset I would have said the same. I have their attorneys info. if you want to send a letter directly to him. He's a total prick but if you follows meth's advise you will get his attention.

Let me know if you would like his contact info.

[keilitz]

I spoke with Dan (they never want to give me their last name) from Asset yesterday and he actually said that he received my fax (FINALLY!!!). He said that he showed it to his supervisor who then showed it to his supervisor and both of them said it was legit. He then said that they closed the account and would remove it from the bureau's. I then asked him for a letter stating this. (Because I am in the middle of trying to purchase a home and need proof of this for the loan officer)

He then told me that because I am currently living in Idaho he can not send me any letter. I asked him why he would be able to send me a bill if he couldnt send this letter and he said that they have never sent a bill to me while I have lived in Idaho. (moved from Colorado to Idaho in january, but am currently moving back to Colorado)

I dont have the bill that they sent me since I have been living here but I do remember getting ATLEAST one, if not more.

Is this true that they cant send me a letter stating that they are removing it or is he pulling my leg again.

By the way, they have also told me that they would remove it before and did remove it. But it always seems to come back.......

[keilitz]

I also filed my compalint with the FTC.

[Recovering Attorney]

Call the guy back and tell him the Idaho Attorney General's Office asked you to file a complaint with them because they refused to send you a confirmation letter. Say you'd rather not, and won't if they fax you something with a signature on it.

[Sarris]

Umm.. If you did not include a signed agreement that they would not come after you for the balance of the account, it is likely they sold the unpaid balance to a collection company. They may have settled, but that doesn't mean that they will not come after you.

Also be warned that any forgiven, settled, or charged off account could cost you with the IRS.

[June]

"Sarris" "Umm.. If you did not include a signed agreement that they would not come after you for the balance of the account, it is likely they sold the unpaid balance to a collection company. They may have settled, but that doesn't mean that they will not come after you.

Also be warned that any forgiven, settled, or charged off account could cost you with the IRS."

I believe that if a creditor cancels or forgives a debt that you

owe of $600 or more, the creditor must provide a 1099-C Tax Form

to you for that year. Generally, you must include the canceled

amount in your reported income. See instructions on your Tax Form.

NOTICE: This is for informational purposes only.