collection?

[samz693]

Months and months ago I received a letter from a CA about a debt, I sent a DV letter CMRR and never heard a word. They have not called, not sent a letter, other than the very first letter that I responded to within the 30day time frame.

Today I check my credit report and see this:

Creditor Name: FINANCIAL ASSISTANCE

Account No.: XXXX

Original Creditor: WF

Responsibility: Individual

Condition: Derogatory

Original Balance: $XXamount

Balance: $XXXXamount

Date Opened: 1/08

Date Reported: 04/01/2008

what in the world!?? first of all I never ever opened an account with these people, certainly not in January of this year so that is false. if anything wouldn't it be the date opened with WF which was years ago? and shouldn't it be date of first deliqency?

Account number, wrong.. don't know original balance, and balance now, what is that? They are adding to it? is this allowed?

I am guessing WF sold this last year while I was going through my divorce and just could not keep up with things.

It is showing under "collections".

I have read this site for hours today trying to find what my steps are now and am lost.

Anyone?

thank you for any help. I appreciate it.

[lovebug5]

If they weren't reporting this account on your CR's until after they received your initial letter (and you have proof of this), it's a flagrant violation of the FDCPA (§ 809. Validation of debts [15 USC 1692g]). If I'm wrong with that, someone will correct me - but I'm pretty sure that I'm not, and therefore not retarded.

[willingtocope]

Are these the same people you DV'd? If so, their tradeline should be marked "in dispute".

Is Wellsfargo still reporting? If its been sold, their TL will say "sold to another lender" and their balance would be $0.

Date opened doesn't mean anything. Its the DOFD that matters...and that should be the same as wells...

[samz693]

funny, WF isn't on my reports at all. Not on a single one! So there isn't a DOFD to go by, only this new one that this place put on.

yes, these are the same people I DV'd. I do have proof, have my receipt from the POffice, with proof of receipt. After that, never received anything from them. They have never reported on my reports before today or at least it only showed up today when I checked TCredit.

So, I need to dispute right now with Experian? I am going to assume it will soon show up on the other two. Do I send them the letter I sent, copy of the original letter from Financial Assistance, and copies of the CMRR as well as the delivery receipt? I've never had to do this so am unsure what they've even violated at this point. But how they can just appear without even contacting me blows my mind.

[willingtocope]

If their TL is marked "in dispute", then they haven't violated anything...

You can dispute the TL with the CRAs as "obsolete", but, its unlikely that they'll take any "proof" you may have. What they'll do is ask the CA to verify their TL....which might cause them to disappear, or it might reawaken them.

If Wells is no longer there, its possible that the "date of first delinquency" is more than 7 years ago. If that's the case, then the CA/JCB shouldn't be reporting. So, you could also call the CRAs and ask for the DOFD for that TL...

[samz693]

wells fargo would be only from last year so its not beyond the 7year mark. it does not say in dispute, it doesn't say anything except this. No original DOFD, nothing except "their date opened"

all it has it what is shown:

Creditor Name: FINANCIAL ASSISTANCE

Account No.: XXXXX

Original Creditor: WELLS FARGO BANK

Responsibility: Individual

Condition: Derogatory

Original Balance: $1XXXXamount

Balance: $XXamount

Date Opened: 01/08

Date Reported: 04/01/2008

I had 4-5 months late/non payment, WF charged off and sold. when I had my divorce setteled, wells would not even talk to me, told me they didn't even have my account. in jan. I received the letter from financial assistance. dv'd them, never heard a thing from them until this appeared.

so in reading now I can only find the violation FDCPA (§ 809. on the ftc.gov website.

So do I dispute this for them not responding to my DV per the FDCPA 809?

I am so confused with all of this. I just went through getting some other things corrected/removed, thought I was moving forward, then this...

thanks for the help and advice/support it truly is appreciated.

[willingtocope]

Like I said, the CRAs are unlikely to take your word for anything. Probably your best bet is another DV to the CA...include a copy of your original...and point out that by not responding to the original, and inserting themselves on your report, they have violated the "continuing collection" prohibition of the FDCPA. This will probably get their attention...its hard to tell whether it will be good or bad.

Was this a CC or car loan or what? Its unusual for a bank to sell a debt that's less than a year or two past due...

[samz693]

It was a credit card, those few months behind. and bam, off to collections.

amex did the same thing, two/maybe three late payments and off to collections-AND I had actually caught up payments in the third month and still sent to collections anyways and they wouldn't work with me .. Prior to that, perfect credit history. I called, and couldn't get anywhere. My sister on the other hand had almost a year of non payment on a ccard before being sold to a CA. me, slammed all at once.

all this during my divorce proceedings which were not pleasant to say the least. life is a funny thing...

thank you for your help It is appreciated..

[willingtocope]

Well...CAs don't buy debts. Junk debt buyers buy debts. Its not unusual that 3 to 6 months after you miss a payment, the OC stops trying to collect with their internal collection departments, and turns it over to a CA to hassle you. That doesn't mean that the OC sold the debt.

In fact, Wells Fargo telling you that "they no longer have the account" doesn't even mean they sold it. It could just mean that they've hired a CA...and their contract with the CA says all contact will be through them.

So...if you haven't actually gone to like www.annualcreditreport.com and ordered all three of your reports...and those reports have a tradeline for wells...and it says "sold to another lender" with a balance of $0...then you can't be sure its sold. Same for AMEX.

Anyway...DV the CA(JDB) who showed up on your reports, and see where that leads.

[debtorshusband]

In fact, Wells Fargo telling you that "they no longer have the account" doesn't even mean they sold it. It could just mean that they've hired a CA...and their contract with the CA says all contact will be through them.

The OP's credit report reads:

Creditor Name: FINANCIAL ASSISTANCE

Account No.: H795***

Original Creditor: WELLS FARGO BANK

Isn't this enough to conclude that "Financial Assistance" has purchased the account?

DH

[willingtocope]

The OP's credit report reads:

Creditor Name: FINANCIAL ASSISTANCE

Account No.: H795***

Original Creditor: WELLS FARGO BANK

Isn't this enough to conclude that "Financial Assistance" has purchased the account?

DH

Not neccesarily. The only definite proof you could get off a CR would be if Wells were reporting and their TL said "sold to another lender" and their balance was $0.

The only reasons I can think of for wells NOT reporting is 1.) its past the 7 year reporting period, or . this was actually a "business" card or loan, and the OP personally guranteed it. In the latter case, its possible that WF sold it before reporting.

[barblong]

Was this an account you co-signed for? If you were simply an authorized user that might explain why the OC wasn't on your CR. CA's will try to get whoever they can to pay the debt even if you have no legal obligation if you were simply an AU.

[samz693]

thanks for all the responses, i do appreciate it.

I have recent reports direct from all three CRA's. No Well's anywhere. Matter of fact, they never called me either which I find strange. the whole thing doesn't make sense to me at all. It is definately not past the 7 year. It is from last year, and I would say only late last year somewhere between july on would be my best guess, considering then was the worst of the divorce / x husband issues.

This financial assistance place never called or contacted me other than one letter. the first letter they sent, which states all it should, that if I dispute or wish validation of debt, etc. etc. to respond within 30 days, which I did. They have never responded. (it is mine but I am not 100% sure of the balance)

Until now. Now they just insert themselves on my credit report. Wells fargo is not on there anywhere. Just this collection agency who never responded to my DV.

I am at a loss. I did not ask them not to contact me, matter of fact my DV letter states that I did want them to validate and contact me via USPS mail with proof of debt, etc. etc.

From what I read (which I have done every chance I get trying to figure this out) I read that it is a violation what they have done, but then I read that it maybe it isn't,,,,,I don't know which it is and am more confused then ever.

[samz693]

the other question/ or thing I don't understand is, they are listing this as date opened of January 2008. This is not the date this was opened with wells. if anything shouldn't this date be the date the card was opened with wells, AND shouldn't they have a date of default or somehting which is last year?

they have everything listed from when they took over as if the account is their account and never wells to begin with which is completely confusing me as well, none of this is correct.

also, are they allowed to add to the balance? for instance interest etc? the original balance and balance owed is different.

I hate the idea of calling them but am thinking I may have no choice at this point, but am drafting a letter as a second DV, as well as asking them to remove this as they have never responded nor contacted me other than one letter to me, with no response to my first DV at all.

Is this correct. I am so afraid of causing more harm after getting other baddies removed/corrected, only to mess this one up or do it wrong.

thank you again, I have gotten alot of help and info here and I really do appreciate it.

[willingtocope]

The date opened is not important...its the "date of first delinquency" from wells fargo that would control the reporting period.

If wells is not on your reports anywhere, then barblong has a point. Is it possible this was your EX's account? If so, and you were not a co-signor, then its not your responsibility. You might try another letter to them saying "I never had an account with you people. You must be looking for my EX. Here's his address. Leave me alone, and get off my credit reports."

DON"T CALL THEM. They're trained to panic you into doing something you might not have to.

[samz693]

Wells is definately not on my reports. I check them constantly, and have recent hard copies from the 3 CRAs.

I believe its mine, "i think"... as far as I know any accounts with x were closed and do show closed on my reports.

there is absolutely no date of first delinquency shown.

this is it, this is all they reported, nothing more:

Creditor Name: FINANCIAL ASSISTANCE

Account No.: XXXX

Original Creditor: WELLS FARGO BANK

Responsibility: Individual

Condition: Derogatory

Original Balance: $1XXX

Balance: $1XXX

Date Opened: 01/08

Date Reported: 04/01/2008

thank you again. (as you can tell I am completely and uterly at a loss)

[willingtocope]

If wellls is not at least listed on your reports, then I'd suggest you take the attitude that its not yours...at least until they provide proof that it is.

Send them another letter, CMRRR. Tell them you never had an account with them and have no records of an account with wells fargo. Tell them to get off your credit reports or you'll be forced to pursue your legal options.

[samz693]

thank you willingtocope, I am writing up a letter,, hopefully they will remove themselves.

appreciate the help!