Jump to content

collection on closed acct?


mmm9955
 Share

Recommended Posts

Dear all,

I have a car lease account with Chrysler from 2006 that is now closed, and listed on my credit report as closed and paid. The car in question was traded in and everything supposedly paid off by the new car dealer.

I've just gotten a letter from a collection agency about an outstanding debt on this account; I fully plan on sending a DV letter, but was wondering if the fact that the account has "closed & paid" status mattered--in other words, is this a bogus claim they're making?

Many thanks for your advice!

Link to comment
Share on other sites

Dear all,

I have a car lease account with Chrysler from 2006 that is now closed, and listed on my credit report as closed and paid. The car in question was traded in and everything supposedly paid off by the new car dealer.

I've just gotten a letter from a collection agency about an outstanding debt on this account; I fully plan on sending a DV letter, but was wondering if the fact that the account has "closed & paid" status mattered--in other words, is this a bogus claim they're making?

Many thanks for your advice!

I would guess its bogus as most JDBS look for anything to see if they can collect some money its worse then ever before.

((I am pretty knew here this is just my guess and a DV I believe is the right course, but you may want to wait for some others to back my assessment or pummel me in the ground :p. ))

Link to comment
Share on other sites

I would guess its bogus as most JDBS look for anything to see if they can collect some money its worse then ever before.

((I am pretty knew here this is just my guess and a DV I believe is the right course, but you may want to wait for some others to back my assessment or pummel me in the ground :p. ))

The only way to find out is to dispute it and demand Validation.

Link to comment
Share on other sites

I would follow up with OC to make sure the dealer paid correctly. I worked for an auto finance company for many years and have seen where a dealer doesn't send the loan payoff within the payoff time frame. Meaning the dealer had a payoff amount good thru a certain date & they paid later (for whatever reason) causing the account to be underpaid. This doesn't however, explain why it would show paid/closed.

Link to comment
Share on other sites

I'm with "flyingifr" on this one.

I would also do something else. Most times a lender will send you a copy of the contract stamped "PAID", with a date and authroized signature. Hopefully, you still have it. If not, contact them and ask for a copy. If they refuse, due to this alleged claim, so be it. Just contact the new lender and ask for copies of anything they can share as to the transaction, such as date of payoff, amount paid, etc. Also assure they did receive title from other lender, and when.

On your CR, note the TL and see what it says. If it shows "closed by consumer" with a zero balance, and no negatives, you can assume all is well. Most important here is to note the dates, such as last date reported. This should conincide within at least 45 days from the transaction. If any negative is reported, note dates and by whom. Then recall if you were notified in writing, within 30 days, prior to or after, that they may report. This you can sue against them. More on this if it applies.

Not sure if it applies, "flyingifr", please jump in, but, look up your state's repo laws and see what they say as to your being notified within certain parameters regarding unpaid balances.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.