bookreader1975 Posted April 21, 2008 Report Posted April 21, 2008 Good morning:I have another question about CA's and my credit report.If a CA owns a debt and then sells it to another CA, shouldn't the first CA's entry on my credit report be removed if they no longer own it and aren't collecting on it?I would assume the answer is yes?Thanks in advance,Keith
willingtocope Posted April 21, 2008 Report Posted April 21, 2008 Semantics.CAs don't buy debts. Junk debt buyers (JDBs) buy debts. Most use CAs to try to collect for them.Its important to keep them straight because you can have an OC, a JDB that they sold it to, and one or more CAs all reporting on the same debt.But, if one JDB sells to another then you probably could argue that the first JDB has no reason to report..."I never had an account with those people".
Krash Posted April 21, 2008 Report Posted April 21, 2008 I think the GOV should do something against this crap! I mean if u owe u owe but they shouldn't be able to SELL OUT BAD DEBT, I am so tired of how the gov has gotten on this crap, besides if this keeps up we all will be BK'd! Esp with the fuel prices going up! <<<-- Off topic I know but i had to say it!
musiqdefunk Posted April 21, 2008 Report Posted April 21, 2008 I agree with you to Krash, there has been one account that they say is mine that keeps getting sold or assigned to another CA. Every time they try to collect I call and say do you realize the CA you got this from tried already and failed, what makes you any different, none of you can prove this is my account. So they go ahead and send it to some one else. I mean this debt must be worth about 20 dollars for all the scum buckets who have tried to collect on this.Oh and about the gas thing, yeah it's getting bad specially that I have an SUV but I guess were just going to have to live with in our means now....something this country has done in 30 years.....
Krash Posted April 21, 2008 Report Posted April 21, 2008 I know mus, I haul gasoline and it is the only thing that i can make some money at but I still have to pay the high prices, I CAN"T STAND THE GOV, and i hope that one day we all will never have to worry about this!
betam4x Posted April 21, 2008 Report Posted April 21, 2008 Simple: If its sold to a JDB and they start pawning it out to CAs in an attempt to collect, send a DV to the JDB AND CA. The CA sends it back to the JDB, JDB can't send it out without validating, you win.
Krash Posted April 23, 2008 Report Posted April 23, 2008 it just makes me sick! I have a old debt that fell off my files but i am sure i will see it back! I don't think it is fair!
magician2020 Posted April 23, 2008 Report Posted April 23, 2008 Simple: If its sold to a JDB and they start pawning it out to CAs in an attempt to collect, send a DV to the JDB AND CA. The CA sends it back to the JDB, JDB can't send it out without validating, you win.Do you treat the JDB as an OC or a CA?
looksbothways Posted April 23, 2008 Report Posted April 23, 2008 it just makes me sick! I have a old debt that fell off my files but i am sure i will see it back! I don't think it is fair!Did you pay the old debt? If not, is it outside the reporting period? If not, what's unfair?
Krash Posted April 23, 2008 Report Posted April 23, 2008 i tryed to pay it, they wanted more than what i could pay,so they don't get nothing, the JDB's TL came off from age! Who knows....... It isn't fair that they can sell and resell the debt, they should just be able to try to collect and that's it!
looksbothways Posted April 23, 2008 Report Posted April 23, 2008 i tryed to pay it, they wanted more than what i could pay,so they don't get nothing, the JDB's TL came off from age! Who knows....... It isn't fair that they can sell and resell the debt, they should just be able to try to collect and that's it!You tried to short pay it, they refused to take less, so that relieves you of the debt altogether? Interesting stance. I'm still not clear on how it's not fair that they keep trying to collect money you owe them, but I guess we'll just have to agree to disagree on that one.If the JDBs TL aged off, then you shouldn't see it on your credit report again unless they illegally reage the account. Of course, that doesn't stop them from trying to collect from you. The only way to ensure they won't keep trying is to pay the debt
TTigggers Posted April 23, 2008 Report Posted April 23, 2008 Of course, that doesn't stop them from trying to collect from you. The only way to ensure they won't keep trying is to pay the debt Not TrueThere have been many cases where a debt has been paid and another CA comes after you for it again and is is a real pain to get it resolved.If you settle for less than full balance they can sell the remainder of the balance and have another CA come after you for that as well.Either way it is a catch 22
flacorps Posted April 24, 2008 Report Posted April 24, 2008 Not TrueThere have been many cases where a debt has been paid and another CA comes after you for it again and is is a real pain to get it resolved.If you settle for less than full balance they can sell the remainder of the balance and have another CA come after you for that as well.Either way it is a catch 22If you are going to pay something, get airtight release documentation.
TTigggers Posted April 25, 2008 Report Posted April 25, 2008 If you are going to pay something, get airtight release documentation.That is correct "If it isn't in writing it didn't happen"Even then you may still have a CA try to collect on it again but you will have the paperwork to back up your claim.
saint al Posted April 25, 2008 Report Posted April 25, 2008 I'm a newbe so be gentle. I've just realized I did something stupid by making a partial payment on an old account without knowing I could have ask for verification. I sent 2 payments, there's been no reply or acknowledgement but the checks been cash and this is an sol account(stupid I know now). What can I do now, any advise is welcome. Also hello everybody!!
Ahntara Posted April 25, 2008 Report Posted April 25, 2008 Yes, I have some advice...Read your state's statute(s). In some states, making a payment resets SOL. You need to know.
TTigggers Posted April 26, 2008 Report Posted April 26, 2008 Yes, I have some advice...Read your state's statute(s). In some states, making a payment resets SOL. You need to know.That would be a great place to start!!
LoveToGod Posted April 27, 2008 Report Posted April 27, 2008 i tryed to pay it, they wanted more than what i could pay,so they don't get nothing, the JDB's TL came off from age! Who knows....... It isn't fair that they can sell and resell the debt, they should just be able to try to collect and that's it!Even if it does happen the JDB is not allowed to reage the account. Just keep your old reports and sent the JDB a DV along with indicating that the debt is too old to report.Then call the CRA and tell them they have no business posting that when its too old.The if they don't after 30 days send the FCRA 623 letter.
flacorps Posted April 28, 2008 Report Posted April 28, 2008 Even if it does happen the JDB is not allowed to reage the account. Just keep your old reports and sent the JDB a DV along with indicating that the debt is too old to report.Then call the CRA and tell them they have no business posting that when its too old.The if they don't after 30 days send the FCRA 623 letter.If you read Krash's other posts, he's got a JDB after him that has an actual judgment against him ... also, the JDB has been trying to garnish ... an old bank or old employer, I can't remember which. Close but no cigar. That may put 'em off the scent (sour grapes, good money after bad, and all that), or they may dig in with further investigation. I kind of think the former rather than the latter, since Krash hasn't been back here saying that anything happened.That being the case, contacting the JDB would be a really, really, really bad idea for Krash.
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