Pinnacle & Factoring Company Account

[hguyton1]

Hello All,

I recently recieved a collection letter from Pinnacle Credit Services, LLC stating that they were attempting to collect a B of A credit card account. The credit card account was charged off by B of A April 2007 and has since been through CACH and now Pinnacle. The original charge off amount by B of A was $6246. Pinnacle is reporting to the CA's as:

- original amount of $6247

- a current amount due of $9432.52

-showing it as a "factoring company account"

-as a open account

-and re-aging the account

I will be sending out the DV and C&D letter today. What other actions or steps should I be taking? Thanks people!!!!

[debtorshusband]

I will be sending out the DV and C&D letter today.

These are contradictory. A DV letter says you want them to send you information. A C&D says they are not to communicate with you anymore. So what are you trying to do? Which action do you want them to take?

Regards,

DH

[hguyton1]

I guess just DV for now.

Why are they saying $9000 plus dollars? I know fees and stuff.

Why the factoring account note?

How can they re-age?

SOL will be reached a the end of this month.

[LUEser]

They're not supposed to re-age. You may get some FCRA violations on that. Unfortunately, there is some bad caselaw that says that a JDB can report as a factoring company if the Credit Reporting Guidelines say that's how they should report. It's only controlling in one circuit so far though, so there is room to challenge it if it's not your circuit. I'll have to wait for DB to come back up before I can give you the cite and federal circuit.