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Any advie for my situation would be helpful


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I just found this site a couple of days ago, seems like it should be helpful (haven't tried any of the tips yet). Thanks in advance for any help that anyone can give. My questions are above the line, my story is below the line. Sorry if any questions are repeats, if so let me know.

Does it matter that this debt dates back to a credit card machine lease from a business that no longer exists? That is, do I have less protection Under the law?

Based upon the information below did the Collection Agency give satisfactory debt validation?

I believe that the collection agency now owns the debt, based on the info. below am I right? If that is true, does that mean that in the settlement process I won't be able to negotiate tho OC's Item on my credit report? That is the impression I have gotten from reading on this site.

Does this section of the FDCPA: § 812. Furnishing certain deceptive forms [15 USC 1692j] due me any good as described below.


The OC (Lease Finance Grouop) wrote off/charged off the debt july 2006 (aprox 6 months pass due). The debt has been with Metropolitan Adjustment Bureau (Woodland Hills, CA) since August 2006. All of the following occured before finding this site:

-Recieved collection notice from CA dated 08/01/2006.

-Sent letter by regular mail on 08/14/2006 to Collection Agency for a signed copy of the Lease Contract (which I was not furnished after the signing of the lease as I was promised) that would show how they arrived at the amount of $1126.55

being due as well as an itemized explanation of the aditional fees of $281.18.

-They sent me letter on 09/26/06 saying they had verified the debt and accompanied it with a copy of the signature page of the lease contract (which did not include any of the terms of the contract, it should have been four pages long).

-I found this unsatisfactory and sent another letter on 10/02/2006 requesting everything again as well as the rest of the contract.

-They put it on my credit report around 08/31/2006 and sent a letter telling me so, the OC had also reported it in july.

-on 10/09/2006 the CA sent me the same exact thing as they had the last time.

-The only other thing I have recieved from them was an offer to settle for 65% of the amount the CA said was due. They also stated that "OUR CLIENT HAS INSTRUCTED US TO OFFER TO YOU THE OPPORTUNITY..." would that statement be in violation of FDCPA:

§ 812. Furnishing certain deceptive forms [15 USC 1692j]

(a) It is unlawful to design, compile, and furnish any form knowing that such form would be used to create the false belief in a consumer that a person other than the creditor of such consumer is participating in the collection of or in an attempt to collect a debt such consumer allegedly owes such creditor, when in fact such person is not so participating

-I have pretty much ignored them since they didn't give me a copy of the contract but now I have recieved money from former business partner that I should be able to use to settle this debt.

Sorry it was so long.

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Welcome...although this forum is primarily about PERSONAL debt, there are some of us who got into personal debt because of business problems...and will help if we can.

First...the really bad news...the FDCPA does not apply to business debt. I did have some success delaying collection agencies by claiming that once they reported a debt on my personal credit reports, it became a personal debt, but I'm pretty sure that wouldn't hold up in court...

So...what to do? Is the original creditor on your reports? If so, and if its been sold to a JDB, then their tradeline should say "sold to another lender" or something of the sort. If it hasn't been sold, and if you have money to work with, and you're pretty sure you really owe them something....then I'd suggest you give the OC a call and see what you can work out. (Dealing with a CA is almost never a good idea...and dealing with a JDB is flat out wrong).

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Thanks willingtocope. On my credit report it states that the OC "Staus: Account charged off. 1126 written off." Also on my creditreport under the CA it says "Original Creditor: Lease Finance Group," 'Type: Collection," "Status: Collection Account. $1408 past due." Does this mean that the CA agency owns the debt? or Do I need to call the OC to make sure? Thanks.

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Does this mean that the CA agency owns the debt? or Do I need to call the OC to make sure? Thanks.

Maybe not. If it was sold, it shoulld say something like "sold to another lender" (charge off is just an accounting term...it really doens't mean anything to us) and the OC's balance should be $0.

I'd say you should call the OC (...be sure and give them the "...oh gee, forgot all about this, wow, gee whiz, can I just pay you guys now? (and will you fix my credit report?))

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I had the same situation. Since, I knew it was my account. I went on and called the agency because they were able to verify it with my electronic signature. I was just charged fees though. Anyway, the agency would not settle for a lower amount and I was stuck to pay the bill. They did setup payments and agreed to delete it off of my credit report. I told them I could not send them a payment until I got the letter in my hand stating that it would be deleted per agreement over the phone. The young lady understood and I should be receiving the letter anyday now.

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