wannabuyahouse Posted July 18, 2008 Report Share Posted July 18, 2008 I have a few tradelines that are listed as collections, they are not activley trying to collect from me, at least not in the past few months, and my husband has a few medical collections the same way-I would really like to just PFD since I know they are mine and are all relatively small amounts, $250, $209, $88, and $121...So should I be dealing with the CA or the OC? I read somwhere on one of these threads that if you can talk to the OC to settle, then they can "pull it back from collections". How is that possible if the Ca bought the debt? does this only work this way if they didnt buy it and were just assigned the debt? Sorry if this is a stupid question but I've been reading and rereading all over this site and on the "5 ways to remove a neg listing" article it says that you are only dealing with the CA at this ppoint and the OC is out of the pic, so now I'm confused...Rather not give money to any CA's if I dont have to, rather it go to the person who originally lent me the money I never paid them!thanks! Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted July 18, 2008 Report Share Posted July 18, 2008 Before you pay anybody anything, you first need to know who does own the debt and who has the right to collect it.You can tell some things by who is reporting and how it's being reported...if the original creditor is reporting and showing a balance due, they likely still own the debt. However, if they've sold the debt, the tradeline should indicate that and reflect a ZERO balance owed to the Original Creditor.Obtaining that type of information is part of what the Dispute/Validation (DV) process if for.I'd suggest you get current copies of all three major bureaus (if you don't already have them) and start the DV process based on what you learn from the credit reports.Generally, CAs don't buy debts; they simply collect debts for whoever owns the debt. Sometimes, the "CA" is simply a different "division" of either the original creditor or a debt buyer so it can be difficult to tell; again, the DV process and your own research will help you figure out who you are really (and should be) dealing with.With that said, don't ever pay a debt out of fear or ignorance; do your "due diligence" first so that when you are ready to pay, you are paying what you really owe and to whom you really owe it and make sure any "agreement" is in writing...if it isn't in writing it didn't happen. Link to comment Share on other sites More sharing options...
wannabuyahouse Posted July 19, 2008 Author Report Share Posted July 19, 2008 well heres the thing, afer getting our credit reports, i sent disputes to the CRA's, they sent me the info they had, saying it was validated-so I immediatly sent the DV's to the CA's reporting it on the CR's...What one sent me was very very basic, minimal info, only the name of the OC, date they aquired it and balance, nothing about if they own it or not-but I know it's my debtTwo of my DH'd med collections, they actually sent something that I believed to be pretty good medical billing and shows where they "paid" the bill. So those I have to say I believe, and I'm pretty sure are his actual debts anyway...The other is different, long story short, its being reported by RJM Aquisitions with wash mutual as OC (an old joint checking acct from Ex that was let go, I'm just hearing about it 5 years later) Though I called MAMU and they did have the info on file there....anyway I recognize all of these debts and just want them to go away...like I said the balances aren't that high so I thought I'd just do the right thing and pay for them instead of trying to act like they're not mine or something. But besides the two medical ones, the DV didnt really say anything about how they aquired the debts or if they even own them-thats why I asked WHO i should be dealing with...Should I be more persistant on demanding they send more info, or just PFD since I know the actual debts themselves are ours? Link to comment Share on other sites More sharing options...
wannabuyahouse Posted July 19, 2008 Author Report Share Posted July 19, 2008 I just reread that and realized how ignorant I sound-As if I havent learned anything from this site at all!! what I was trying to get at and never really made the point was-as long as you cover your a** in your settlement letter and make sure to include that they can never re-insert it or sell it again or anything, does it really matter who I pay? can't I use the leverage of the signed settlement form for anyone/everyone who reports it to take it off since it will show "paid in full"?just need some clarification plz!... ps thanks for your prompt responses! really appreciate it! Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted July 19, 2008 Report Share Posted July 19, 2008 The best I can tell you at the moment (as I have to run and feed my little girl [the one in the picture]) is that the DV process is a process meaning that it isn't just a one-time letter (usually).So...you need to keep asking for the information you need to make a rational decision about who to pay and how much.You can also always start with the OCs; often the'll tell you outirght if they still own the deb and/or who they sold it to or who their CA is...if the OC tells you it's likely true (at least with most OC's).I'm sure others will chime in here too. Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted July 19, 2008 Report Share Posted July 19, 2008 I just reread that and realized how ignorant I sound-As if I havent learned anything from this site at all!! what I was trying to get at and never really made the point was-as long as you cover your a** in your settlement letter and make sure to include that they can never re-insert it or sell it again or anything, does it really matter who I pay? can't I use the leverage of the signed settlement form for anyone/everyone who reports it to take it off since it will show "paid in full"?just need some clarification plz!... ps thanks for your prompt responses! really appreciate it!Yes it matters because CAs have this funny habit of not always being completely honest and truthful (I would say they are lying scumbags but I’m trying to be just a little bit “nicer” and not quite so blunt and outspoken).That means that if you don't properly vet the CA and really know you are paying the entity that has the legal authority to collect, your payment (and any agreement, written or otherwise) will be worthless. Without knowing for sure who owns the debt and/or who has the authority to collect it, you could wind up paying a CA that doesn't even hold the account anymore (good luck trying to get that back; you might succeed but not without a lot of effort).These things are matters of business and law; shortcuts often result in very undesirable unintentional consequences and there are plenty of threads on this site to confirm that. Link to comment Share on other sites More sharing options...
wannabuyahouse Posted July 19, 2008 Author Report Share Posted July 19, 2008 OK, I Got it...thanks again for the clairification and inputI know you probably get kinda tired of answering questions that seem so obvious to you, but we all have to start somwhere! There's just SO much information, here (and everywhere for that matter) it can be hard to distinguish what applies sometimesI see your point and will work on another round (or two or three) of the dv process before I make any hasty decisions; I guess I was just jumping the gun!btw, beautiful hound you have there Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted July 19, 2008 Report Share Posted July 19, 2008 No problem and thanks for the kind words about my girl...I know I get a lot more positive comments with her picture up there than I would if I had my own there! Link to comment Share on other sites More sharing options...
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