AboveAverage

OC doesn't own my account--yet always verifies on CR

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Ok guys, here's the scoop.

I used the BBB for a variety of negatives on my CRs. I finally got my response from this OC and will type out what it says

Dear Ms. BBB rep,

This is to request that the above listed case be re-assigned to the appropriate party. Our investigation has determined that this complaint is about service received from JDB1, who is the owner of this account. Please contact JDB1 with the information provided below in an attempt to reach a mutually acceptable resolution for all parties involved.

JDB1 and address

If yo should have any questions or concerns regarding this matter please contact our office at 555-555-1212, Monday through Friday between the hours of 7:00 am and 4:00 pm

Sincerely,

Head D-Bag of OC

Now it sounds cut and dry, but this is where it gets interesting. This "alleged" debt is the same debt from this other I asked about a few months ago thread.

http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=285159

This the JDB was NOT the JDB that was in the BBB letter. OC sold it to JDB1 which then got sold to JDB2 (the JDB in the aforementioned thread). JDB1 isn't even on my CR reports, it's just the OC.

So now I ask the CIC...what is the best response to deal with this? I can actually go pro se if I need to. The OC sold this account but is still on my reports (and the reports reflect that fact). Do I need to dispute the CRAs with this new information and then 623 it? OR Do I attack the OC directly?

To be clear, this debt can never come back...ever. But the OC will not let it go from my report.

This will die on it's own in a year, but if I can get rid of it now, it'd be so appreciated. :D

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I think I'd try 623. But that's just a little bump for you, 'cause I'm not sure. I'd be going all out at this point: AG, more BBB, and 623ing.

A year's a long time to wait when you know you've got something.

Someone needs to prove who owns this thing.

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Perhaps I'm missing smething here but I believe it's accurate to say that the OC retains the right to report their experience with you as a customer (good or bad) through the allowable reporting period (the 7 1/2 years) and so long as they report accurately.

And, as far as I know, their right to report doesn't change because they sell the debt to a JDB (or no matter how many different JDBs own the debt at one time or another).

My point being, unless there is something inaccurate with the tradeline, I don't see the problem (I understand of course, that you would prefer the tradeline not be there).

Or are you saing that this isn't your debt at all???

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Robert,

I wholeheartedly agree with the creditor's rights.

But I would also assert that the OP has the right to be a nuisance as well.

Even if they are reporting accurately, AA has the right to continue to ask for total verification to his heart's content.

And if his pain in the butthole factor is larger than the patience that the OC has, then he wins.

Whether that's ethical or not, is a matter of debate. But some of us (self condemned I'll admit to it), have less than rigid moral standards.

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Listen, I'm going to be completely straight up with you both, Robert and LUEser...

There is pretty much nothing wrong with me asking the OC to prove this debt was mine, and I refuse to debate whether or not this debt is mine or not. You can take that any which way you want. All I can say is that this debt is dead. Finito, Gone, Done. I moved on and pretty much want the OC to move on too.

Believe me, contrary to what you might believe, I would love to go back in time and stop myself from being fiscally irresponsible. I would love to stop myself from taking a cash advance from my Discover card so I could pay for a fake ID that I would enjoy for 3 years and not even pay the bill, hence would have my wages garnished for about 1 year and a half. But, I can't. I can pretty much just deal with the here and now. I have said it many times--I was young and stupid.

I understand where you're coming from, and I'm not going to be a hypocrite. I was a scumbag...I have paid my penance in one way or the other and I am not going to debate with you about this. I am pretty much looking for proper strategy on how to deal with this with OC. I have less than a year but as Leslie said, if I can get rid of this sooner, the better for me. I humbly and respectfully ask that you try not to make me feel any worse because I want to get rid of this from my CRs before the 7.5 year period like many before me have done. That's it...

There is no pain with this....if I have to wait out the year, I will. But if I can get rid of this sooner, I will do that too. :)

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...

There is no “right” given in the law (which is where our attention should be focused) to dispute accurate information simply because we don’t like the information. Yes...I know...people do it all the time...people are even encouraged to do it by most posters on this board (including the mods) and they are free to hold their opinion.

Yes, in a broader sense, every individual has the “right” to be a complete horse’s a$$ but that just because a person “can” doesn’t mean the person “should” or even that it’s a good idea for their specific situation.

There is also a broader practical matter that most tend to conveniently overlook in their holy quest to “repair” their credit report…every time a consumer “disputes” information on his/her CR that is accurate and that he knows is accurate, it is handing the bureaus and the data furnishers one more example of why Congress should reign in the consumer protections they enacted not all that long ago and, perhaps more importantly, it makes it just “that much” more difficult for legitimate disputes to get the attention they deserve.

Why do you think the data furnishers/bureaus/creditors/collectors almost completely ignore claims of “it’s not my debt”, even when it isn’t the consumer’s debt - it’s because they hear that claim hundreds if not thousands of times every day from people who know it’s their debt…they assume people are lying to them because the vast majority of the time, they are lying.

By they way, from my perspective, having “less than ridged” moral standards is a bit like trying to say “my head’s been severed from my body but 95% of me (from the neck down) is just fine”.

::leaving::

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Trying to answer the original question...

If the OC's TL says "Sold to another lender" and their balance is set to $0...then their reporting is 100% accurate and can continue for the full 7 years post DOFD.

The good news is...this probably has very, very little effect on any of the various scoring models you may be concerned with. It's a done debt. Any negative effect it might have diminished over time. If its like six years now, it might cost you a point or two...

Leave it alone.

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Trying to answer the original question...

If the OC's TL says "Sold to another lender" and their balance is set to $0...then their reporting is 100% accurate and can continue for the full 7 years post DOFD.

The good news is...this probably has very, very little effect on any of the various scoring models you may be concerned with. It's a done debt. Any negative effect it might have diminished over time. If its like six years now, it might cost you a point or two...

Leave it alone.

Fair enough. This is an answer I can live with. I can even prove to any lenders that this debt is done, but I just wanted to see if I had any recourse.

We may never agree on bumpage, but I can definitely agree with you on this. Thanks WTC. I think I will leave this be. I just got excited when the OC sent that letter back. I really thought I might have something positive (for me!).

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You do realize that many debt collectors collect their debts illegally, right? A friend of mine was talking about credit in general and asked me about my repo. I told him it was tell held by the OC and that it was set to die either next year or 2010. He then proceeded that it could go to collections and start the 7 year process again. I then told him that happens a lot and that reaging is illegal. What he thought he knew about credit he didn't. He is not alone though...he's with about 90% of debtors in this country who don't know better.

Point being? Debt collectors get a good portion of their debts from illegal practices from people who don't know better. We ARE THE MINORITY. Seriously....it's one thing if you messed up in life and clean yourself up only to mess up again. Those folks I will never have respect for. But when you messed up in life and just want a second chance at a blank slate...why is that wrong? I don't think it is, and folks should be afforded a second chance. Just like rehabbing a student loan. You should rehab a debt. I think that would benefit both debtors and creditors instead of playing these games that both of us play. But that's just me.

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Yes...I do realize that debt collectors do illegal things however I don't see how that applies??? I also wasn’t talking about disputing inaccurate tradelines, which seems to be where you are starting with your post, so I’m not quite sure where you are coming from???

Collectors need to be held accountable for their illegal actions...of course, inaccurate tradelines ought to be disputed and the data furnisher forced to either correct or remove.

I just don’t see how a creditor (particularly an original creditor) is denying anyone a “second chance” just because they are accurately reporting the experience they had with a consumer. I would suggest that the “second chance” starts at the point in time the consumer stops doing dumb things with their money and moves forward from that point – rewriting a credit history is not a “second chance”; it’s pretending that there was no need for a second chance.

It is also true that potential creditors have a steak in this…they have a right to know the accurate credit history (as much as the law allows them to) of the consumer asking them for new credit.

If having an accurate, albeit negative, tradeline on a credit history keeps that consumer from getting an extension of credit from a lender; that’s probably a good thing.

Lenders who lend money to people who, for whatever reason, don’t pay it back, ends up costing everybody money (look no further than the mortgage crisis we are in although I’ll grant you there is plenty of opportunity for blame on that one).

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It is also true that potential creditors have a steak in this…they have a right to know the accurate credit history (as much as the law allows them to) of the consumer asking them for new credit.

If having an accurate, albeit negative, tradeline on a credit history keeps that consumer from getting an extension of credit from a lender; that’s probably a good thing.

.

My point was that if companies in general can do whatever they can to get their money back, why can't the debtor do whatever they can to clean their report up.Prior to 2007 I had ZERO credit. I paid back debts in 2007 (only because they were government debts and I had NO choice....). PERSONALLY speaking, I did my time in credit hell. Now I'm looking for parole. I'm starting to not live my paycheck to paycheck lifestyle that I was sooo used to, but that's only because I leverage my credit that way. I could not say two years ago "I'm not broke". Now I can and I still acknowledge I have more work to do.

BTW this steak that the creditors have that you mentioned....I like mine medium well. :D (Wanted it quoted before you fixed it... 8-) )

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\BTW this steak that the creditors have that you mentioned....I like mine medium well. :D (Wanted it quoted before you fixed it... 8-) )

Awww, c'mon AA, I thought you were above grammar smack

Grammar-Police.png

But I lol'ed.

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My point was that if companies in general can do whatever they can to get their money back, why can't the debtor do whatever they can to clean their report up.Prior to 2007 I had ZERO credit. I paid back debts in 2007 (only because they were government debts and I had NO choice....). PERSONALLY speaking, I did my time in credit hell. Now I'm looking for parole. I'm starting to not live my paycheck to paycheck lifestyle that I was sooo used to, but that's only because I leverage my credit that way. I could not say two years ago "I'm not broke". Now I can and I still acknowledge I have more work to do.

BTW this steak that the creditors have that you mentioned....I like mine medium well. :D (Wanted it quoted before you fixed it... 8-) )

Two wrong's never do make a right but even so, companies, either in general or specifically, can't do "whatever they can" to get their money back; they are allowed to do what the law says they are allowed to do and when they don't follow the law they can (and should) be held accountable.

Now I'm hungry...haven't had lunch yet...dam. :)

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Awww, c'mon AA, I thought you were above grammar smack

Grammar-Police.png

But I lol'ed.

I lol'ed at your lol....lol.

LMAO. I have typos around here myself. Just in good fun plus I was hungry for some stake.

:lol::lol::lol::lol::lol:

(intentional)

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Two wrong's never do make a right but even so, companies, either in general or specifically, can't do "whatever they can" to get their money back; they are allowed to do what the law says they are allowed to do and when they don't follow the law they can (and should) be held accountable.

Exactly...which is why I thought I had something with my original post. Just because the debt "allegedly" is mine, doesn't mean I don't have rights...even if I might be culpable.

But there are many people unfortunately who don't know their rights. Which is why these companies prevail.

As that relates to me, I'm just saying maybe I have something and was looking for what that might be, if anything.

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I still don't know what complete and accurate is. I have been told and have read so many different opinions on this. I have called the CRA's and they do not seem to know or care. I know the CDIA has set a standard but the standard is not law and none of the CRA's will delete based on this standard not being met.

So in my opinion until we know what is is We must dispute every TL based on we do not know what is complete and accurate.

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I have also heard that to much disputing get you put on the cra's fraud list. Now I do not know if that exists.

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I don't know about the "fraud list", Gunny, but I do believe that disputing "everything" just because you can is not only not a benefit to the person doing the disputing but ultimatley negatively impacts everyone else's chance of successfully disputing for substantive reasons.

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It's good to see you posting in the Credit Repair forum. :)%

Thanks but I didn't say I wouldn't post; just that you won't see me offering advice to people very often if at all.

However, discussions about the finer points of devt/colelction/finances, etc. are another matter. :)

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What is always overlooked is the main fact of a clean slate which the Supreme court ruled.I don't have the case,but it said in order for the consumer to have a frsh start it must have a clean slate.Well if your debt's are still being reported it's not a fresh start.A clean slate should be a blank slate.I'm disputing a bk7 on the statement.You know bk is a last resort when you owe $500,000 dollars after insurance.Lets face it your not going to pay that off in your lifetime.

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What is always overlooked is the main fact of a clean slate which the Supreme court ruled.I don't have the case,but it said in order for the consumer to have a frsh start it must have a clean slate.Well if your debt's are still being reported it's not a fresh start.A clean slate should be a blank slate.I'm disputing a bk7 on the statement.You know bk is a last resort when you owe $500,000 dollars after insurance.Lets face it your not going to pay that off in your lifetime.

The law simply doesn't agree with you (in fact the law about how long a BK can be on your credit history is very specific).

Frankly, a consumer doesn't have a right to hide their true credit past...were I a lender and someone came to me asking for money, I'd sure as hell want to know if he filed a half-million $ bankruptcy!

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While we are on whats fair and not. Is it fair to consumers that the same debt is reported 3 times on your CR?

1 debt should = 1 TL

I had the same debt reported by the OC and 2 JDB.

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While we are on whats fair and not. Is it fair to consumers that the same debt is reported 3 times on your CR?

1 debt should = 1 TL

I had the same debt reported by the OC and 2 JDB.

It's fair if it's accurate data IMAHO.

Obviously, howerver, there can be only one debt owner at a time so, if two JDBs are reporting; one has to be reporting data they have no right to report.

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