Who own's this debt-Unifund or UNVL/CITI?

[smurfette in nyc]

I can't figure this one out by myself? Perhaps someone here on the forum can help me clarify who owns this debt:

Experian UNVL/CITI

Condition: Derogatory

Balance: $12773

Type: Credit Card

Pay Status: Collection/Chargeoff

Comments: Account in dispute - reported by subscriber (FCRA)

Equifax UNIFUND

Condition: Derogatory

Balance: $18721

Type: Collection

Pay Status: Late 120 Days

TransUnion UNIFUND

Condition: Derogatory

Balance: $18721

Type: Factoring company account

Pay Status: Collection/Chargeoff

Comments: Collateral: CITIBANK UNIVERSAL

I just sent a DV letter to Unifund about this account last week; I only found out about this when I pulled my credit report-I never received a dunning letter from Unifund about this.

Anyway, I can't comprehend whether or not Unifund actually bought this account, or are simply trying to collect on Citi's behalf? If anyone here can explain this to me, I'd very much appreciate it-thanks a lot!

[willingtocope]

Technically, if the OC sold it, thier TL should say "sold to another lender" and their balance should be $0.

[Northern Lights]

Sounds like citi sold it to unifund and unifund has the account plus interest. Usually Citi handles these amounts by themselves, but it looks like it was sold. How old is this account and when did it go into collections?

[smurfette in nyc]

Technically, if the OC sold it, thier TL should say "sold to another lender" and their balance should be $0.

Thanks willingtocope--I thought that as well. Interestingly enough, the CITI TL only shows up on EX, so I've got to wonder if it's just a matter of time before it drops off, assuming CITI sold it.

[smurfette in nyc]

Sounds like citi sold it to unifund and unifund has the account plus interest. Usually Citi handles these amounts by themselves, but it looks like it was sold. How old is this account and when did it go into collections?

Thanks Northern Lights-According to EX, the UNVL/CITI account was opened in 1999, and charged off 2 years ago. I read somewhere that Unifund bought up a ton of the AT&T Universal charged off debt, but I'm not completely sure that is true. I do know CITI acquired AT&T Universal, but perhaps the records that came with that acquisition weren't up to CITI standards?

I guess I will have to wait and see what kind of response I get from Unifund, since I sent them a DV last week.

[Fizzle1979]

Thanks Northern Lights-According to EX, the UNVL/CITI account was opened in 1999, and charged off 2 years ago. I read somewhere that Unifund bought up a ton of the AT&T Universal charged off debt, but I'm not completely sure that is true. I do know CITI acquired AT&T Universal, but perhaps the records that came with that acquisition weren't up to CITI standards?

I guess I will have to wait and see what kind of response I get from Unifund, since I sent them a DV last week.

You DV'ed a $18K debt and you are still within the SOL? You got some BIG ONES my friend! I do wish you the best luck.

[smurfette in nyc]

You DV'ed a $18K debt and you are still within the SOL? You got some BIG ONES my friend! I do wish you the best luck.

::devillaugh::LOL, Fizzle! The truth is, as soon as I saw Unifund TL's on my CR's, I got scared because I've read here that they are very prone to sue without warning. I figured it would be better for me to just DV them, and figure out if I even truly owe them anything or not, before finding a summons on my door.

[Fizzle1979]

::devillaugh::LOL, Fizzle! The truth is, as soon as I saw Unifund TL's on my CR's, I got scared because I've read here that they are very prone to sue without warning. I figured it would be better for me to just DV them, and figure out if I even truly owe them anything or not, before finding a summons on my door.

Understandable. But if you do find that Unifund screws up and doesn't dot an i or cross a t. Please file complaints with your AG their OH AG Marc Dann and the BBB and the ACA. Provide a detailed outline of what happened with a timeline. In my opinion, complaints that are well organized get the best results.

I went to war with Unifund and the ACA got them off my credit reports.

[Debt Guy]

My understanding is that the old Universal records were "fair". Exactly what Citi got -- who knows? But that acquisition was back about 2000 or so -- right? Citi records since the acquisition would be very good.

I can tell you that the Unifund business plan is almost purely a litigation strategy. They really don't have an internal collection staff and I have not heard of them using a 3rd party collection agency. They assign these accounts out to a law firm in your state. From what I know, the law firm will usually make a couple of collection attempts before filing -- but sometimes the first you hear is when the summons arrives.

If you contact Unifund before they assign it out, you can settle the account. It won't be cheap as they don't negotiate very much.

I agree with Fizz that sending the DV on a large balance in SOL debt was a bad idea. But, given Unifund's business plan, it probably did not make much difference in the big picture. Their practice seems to pretty much be to follow their plan no matter what.