NYSWEETY01

Debts coming out of hiding

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Hi guys,

Since I've started my repair - I've had some successes and some setbacks....My setbacks include obsolete debts that are now coming out of hiding:twisted:

Are any of you experiencing this as well?

Most of these debts are out of SOL so I'm not too worried but the paperwork involved is a killer!

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Hi guys,

Since I've started my repair - I've had some successes and some setbacks....My setbacks include obsolete debts that are now coming out of hiding:twisted:

Are any of you experiencing this as well?

Most of these debts are out of SOL so I'm not too worried but the paperwork involved is a killer!

Yeah, it's normal. I guess they figure our credit is getting better, maybe we'll pay up.

-r

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With the economy heading toward recession and credit terms getting tight, you can expect a lot of companies to be digging through their dusty accounts looking for any possible funds they can get. I don't think it's that you've started trying to clean things up. It's just coincidence that it's falling at the same time as most companies are struggling to stay alive.

On that note, also start expecting more fraud to start happening.

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Is it also true that when you obtain new credit such as a car, or shop for a mortgage loan that the CRA's alert the creditors and they in turn come back at you? I recently had more than one debt try to resurface from more than 10 years ago. I obtained two new cars in March, and have been shopping mortgage loans. Coincidence??

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Is it also true that when you obtain new credit such as a car, or shop for a mortgage loan that the CRA's alert the creditors and they in turn come back at you? I recently had more than one debt try to resurface from more than 10 years ago. I obtained two new cars in March, and have been shopping mortgage loans. Coincidence??

Coincidence. It would be a violation of the FCRA for a bureau to release your information without permissible purpose; and alerting existing creditors is not pp.

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I was wondering that too. They do seem to find out as soon as there is activity. It is crazy. Oh well. Out with the old and on with the new... shall we say.

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Hi guys,

Since I've started my repair - I've had some successes and some setbacks....My setbacks include obsolete debts that are now coming out of hiding:twisted:

Are any of you experiencing this as well?

Most of these debts are out of SOL so I'm not too worried but the paperwork involved is a killer!

Also if the debt was bought by somebody else and you challenge it with XYZ the other collector becomes aware of it some how. They are called sleepers.

A lot of times people think that items reappear on their credit once deleted but it is another collection agency all together reporting the debt.

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I was wondering that too. They do seem to find out as soon as there is activity. It is crazy. Oh well. Out with the old and on with the new... shall we say.

I have an old debt that is obsolete, older than 7 years, it is not on my report anymore. But everytime I have gotten a new card I get a dunning letter from them in the mail. In looking at a copy of my reports from the bureaus this CA does a soft inquiry about every other month. I'm waiting to see if i get another dunning letter when my new car loan appears

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I have an old debt that is obsolete, older than 7 years, it is not on my report anymore. But everytime I have gotten a new card I get a dunning letter from them in the mail. In looking at a copy of my reports from the bureaus this CA does a soft inquiry about every other month. I'm waiting to see if i get another dunning letter when my new car loan appears

LOL. At least they are soft pulls. That is nice of them. :lol:

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Coincidence. It would be a violation of the FCRA for a bureau to release your information without permissible purpose; and alerting existing creditors is not pp.

I dont think this is completely true. They dont alert existing creditors, but creditors may buy lists.This is also why Opting out is important.

Look at the products that Experian is selling to creditors: http://www.experian.com/collections_industry/index.html

Locate hard-to-find debtors quickly

Stop searching and start collecting with easy-to-use skip tracing tools.

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They...the JDB's buy lists. Ok...so when we opt out of receiving offers, we are also opting out and therefore will not be on the lists the CRA's are selling to these scumbags?

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They...the JDB's buy lists. Ok...so when we opt out of receiving offers, we are also opting out and therefore will not be on the lists the CRA's are selling to these scumbags?

Yes, that's correct :)

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Then I guess it is time to go and look to see which one I missed when I did the opt out or myself. I still get lots of offers...and I have been getting several dunning letters since my disputes started. Cranky hardly ever gets a thing, so I figure I fixed his right.

Zfire, who needs to pay closer attention to details such as this.

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You should only need to opt out once for all 3. I just opted out this month but from what I hear, it takes a min of 30 days. to take effect.

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Originally Posted by zfire

They...the JDB's buy lists. Ok...so when we opt out of receiving offers, we are also opting out and therefore will not be on the lists the CRA's are selling to these scumbags?

Yes, that's correct

Is there proof of this? How can we be sure this is true before we opt out?:confused:

The following is a confirmation of your 5 year Opt-Out request. Please click here to print this confirmation for your records. Your request will be completed within 5 business days. Although your request becomes effective with Equifax, Experian, Innovis and TransUnion within five business days of your request, you may not see an immediate reduction in the amount of offers you receive. This is because your name may have already been provided to some companies that have not yet mailed their offers to you. You may continue to receive certain firm offers for several months.

While your name will be removed from the lists that Equifax, Experian, Innovis and TransUnion provide to businesses for the purpose of making you a firm offer of credit or insurance, you may continue to receive offers from sources that do not use Consumer Credit Reporting Companies to compile their lists.

https://www.optoutprescreen.com/opt_form.cgi

I found this link that opts out of all four. Is it legit and safe? It states you will be removed with in five business days also not 30 days.

Thanks for your help.

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Is there proof of this? How can we be sure this is true before we opt out?:confused:

https://www.optoutprescreen.com/opt_form.cgi

I found this link that opts out of all four. Is it legit and safe? It states you will be removed with in five business days also not 30 days.

Thanks for your help.

I know for a fact that creditors got my new information from the CRA's, just by looking at the addresses they use. I dont have any proof that it works, but its the only thing you can do and you can choose to OPT IN. The website you have is legit. You can visit the FTC to confirm this information: http://www.ftc.gov/privacy/protect.shtm .

I think this says alot :

While your name will be removed from the lists that Equifax, Experian, Innovis and TransUnion provide to businesses for the purpose of making you a firm offer of credit or insurance,

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I think this says alot :

Quote:

While your name will be removed from the lists that Equifax, Experian, Innovis and TransUnion provide to businesses for the purpose of making you a firm offer of credit or insurance.

:)++It does not say at all though; that they sell our information to creditors. Sorry, it just does not say that.

It does not say we sell information to collection agencies.

It states lists that Equifax, Experian, Innovis and TransUnion provide to businesses for the purpose of making you a firm offer of credit or insurance.

I find that you could perhaps be on to something. It would be absolutely fantastic if you are correct. I am going to OPT-OUT just in case you are correct. If you do ever find proof please e-mail me.:)

PS THANK YOU SO MUCH Charlnyc! I do think you are probably right!

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I think this says alot :

I find that you could perhaps be on to something. It would be absolutely fantastic if you are correct. I am going to OPT-OUT just in case you are correct. If you do ever find proof please e-mail me.:)

PS THANK YOU SO MUCH Charlnyc! I do think you are probably right!

You're welcome Jason!

This is proof:http://www.experian.com/collections_industry/index.html

I'm curious to know how you interpret these types of services that Experian is offering?

and isnt the press release in the other thread proof?

This is almost old news. :) I just found out myself last month by reading tons of posts on opting out

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This is proof:http://www.experian.com/collections_industry/index.html

I'm curious to know how you interpret these types of services that Experian is offering?

and isnt the press release in the other thread proof?

:)++Well I am interpreting this by exactly what it states. They are giving information that is on our Experian credit report to the collection agencies. If we are off mailing lists for "credit offers and insurance offers" that does not stop the collection agencies from collecting information from our credit reports. Now what is in question though to me is whether or not collection agencies buy our info from mailing lists or by it from looking at our credit reports. If they are buying the info from being on the mailing lists then the OPT-OUT option will help all of us. But if they are purchasing our info from other collection agencies, or our credit reports directly that is a different story; then the OPT OUT option will not help us.

I do think that you might be correct so I did file the OPT OUT for 5 years.:)

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Coincidence. It would be a violation of the FCRA for a bureau to release your information without permissible purpose; and alerting existing creditors is not pp.

That's what I thought too, however, I ran across this page ( http://www.bankruptcylawnetwork.com/2007/08/25/why-are-debt-collectors-calling-on-discharged-debts/ ) and was wondering if you could explain the second paragraph,: This new wave of debt collectors are actually quite sophisticated. They use credit scoring models and other new technologies to predict which individual will pay faster than others....

it seems to me that the more I get deleted and my score goes up, the more collectors on old debts come out of the shadows...

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That's what I thought too, however, I ran across this page ( http://www.bankruptcylawnetwork.com/2007/08/25/why-are-debt-collectors-calling-on-discharged-debts/ ) and was wondering if you could explain the second paragraph,: This new wave of debt collectors are actually quite sophisticated. They use credit scoring models and other new technologies to predict which individual will pay faster than others....

it seems to me that the more I get deleted and my score goes up, the more collectors on old debts come out of the shadows...

You are right on point! They look at several factors (including whats on your credit report) to determine if you can pay or how likely they are to get a judgment against you. The better your credit gets, the more likely they are to sue. I read a huge post discussing this in depth on another site (cant remember which one).

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Guys...it is no secret that the CRAs sell our info to the JDBs--why do u think it is so difficult to remove stuff from your file?

They also trigger alerts to JDBs whenever there is new activity on your CR. So in credit repair, u will get old CAs calling and new creditors offering credit. I have had mailings from Firts Premier(no thanks!) Tribute. Aspire..etc..

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Does anyone agree with Charlnyc that the "opt out" will prevent the CRAs selling our info to the JDBs?

I think maybe so but I am not sure.

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I did opt out...and the junk solicitations stopped...thank goodness

But I don't think they will stop selling our info thats their primary income...and some are offering special services to offer tracking for JDB to find those hiding from collectors.

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