rp0029 Posted January 12, 2006 Report Share Posted January 12, 2006 Okay, if an OC lists status of debt as "chargeoff" (a debt that they report as "transferred or sold"), then how can they report the debt? I have MBNA saying that they sold the debt - yet if I don't owe them any money (because they sold the debt), how can they be on my credit report?Charge-Off Amount says 0, balance says 0, amount past due says 0, etc.I know how to go after the CA collecting on this, but once I get the CA to remove its entry, how do I deal with the OC? Link to comment Share on other sites More sharing options...
chincheck Posted January 12, 2006 Report Share Posted January 12, 2006 They have the legal right to report the tradeline on your credit reports because 1) the DOLA falls within the 7.5 year period, 2) they are asserting that you are/were responsible for paying off any balance on that account.If it's a DOLA issue, then a simple CRA dispute should take care of the problem. If you know you aren't the guy responsible, this is a case of mistaken identity. You file a police report for ID theft, and submit copies of the report along with your dispute to the OC, CA and CRA. FACTA then requires the account to be removed from your credit permanently, and prevents anyone from ever trying to collect from you.Otherwise, getting a CO removed will take a little persistence, a little patience, and a lot of luck. Link to comment Share on other sites More sharing options...
rp0029 Posted January 13, 2006 Author Report Share Posted January 13, 2006 It isn't a DOLA issue. Nor is it ID theft. I just want them off of my report - they have to be off by May. I am going to try to trip them up into violating, but if they do not by that time, I will have to negotiate PFD.Any ideas on negotiating? Link to comment Share on other sites More sharing options...
chincheck Posted January 13, 2006 Report Share Posted January 13, 2006 Since you already stated you know how to deal with the CA, I'll assume you're referring to a PFD on the CO. IMHO I don't see what leverage you have against the OC to negotiate on a $0 balance CO. So, I only see 4 chances you have.1) You dispute with the CRA. CRA somehow can't verify and the account falls off. Odds are against you, but this is your best bet. The problem is the short time frame: if the dispute gets verified, you'll have to wait 3-6 months before disputing again so it isn't deemed frivolous.2) You dispute with the CRA. CRA somehow trips up legally and opens the door for your lawsuit. Odds are against you, but it has happened before. But it won't be resolved by May.3) You dispute with the OC. OC somehow trips up legally and opens the door for your lawsuit. Odds are against you, but it's happened before. Again, it won't get resolved by May.4) You write a goodwill letter to the CEO and it gets taken off. Highly unlikely, unless the CO is within a year or two of the 7 year limit. Link to comment Share on other sites More sharing options...
rp0029 Posted January 13, 2006 Author Report Share Posted January 13, 2006 What is a goodwill letter?Can I negotiate with them to have the charge off taken off of my report? What is the best way to do this? Link to comment Share on other sites More sharing options...
rp0029 Posted January 13, 2006 Author Report Share Posted January 13, 2006 Also, a couple of the OCs ARE within a year or two of the seven year limit. Delinquency started in 2001. Link to comment Share on other sites More sharing options...
chincheck Posted January 13, 2006 Report Share Posted January 13, 2006 Here's a sample goodwill letter:http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?p=5984&highlight=goodwill#5984 Link to comment Share on other sites More sharing options...
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