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4 years, never been contacted


missxkatie
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I'm trying to figure out my options for this collection debt from IQ Data International.

 

In December of 2008, I signed a one year apartment lease with my mother. I ended up hating that part of town, and moved out in April 2009. During those few months, her business closed, so she had no income to pay rent. She broke the lease in June of 2009. The apartment complex quickly sold of the debt to a collection agency. The mail started coming for collections, but never anything in my name, only hers. In 2010 my mother filed bankruptcy on all debts pertaining to her business, which to my knowledge, included the remaining due balance of the apartment for 6 months. It's now 2014, and I still have not received any communication from the collection agency wanting me to pay the debt. They just keep raising the debt amount and tanking my credit score.

 

My credit report has 2 different dates for date opened on it. One from June 2009, and another from February 2010. I'm not sure what date means what.

 

I'm getting married this year, and we have been considering our housing options. Right now we rent, but we don't want to rent forever. I've had a broker tell me that to qualify for a mortgage, I have to get that debt off of my credit, obviously, but he says I have to settle with them and pay something, which honestly I'm not thrilled about the possibility.

 

I have also had other people tell me that the agency can no longer try to collect that debt because of my mothers bankruptcy.

 

I've tried to do some research on SOL, and found that written contracts for Arizona have a 6 year life span, but I'm not sure if that pertains to me either.

 

Contacting IQ after reading horror stories of the company is out of the question, and don't want to start my SOL over if I am close to being able to get it off my credit.

 

The thought of filing bankruptcy has also crossed my mind as an option.

 

Any advice would be fantastic.

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I'm trying to figure out my options for this collection debt from IQ Data International.

 

In December of 2008, I signed a one year apartment lease with my mother. I ended up hating that part of town, and moved out in June 2009. During those 6 months, her business closed, so she had no income to pay rent. She broke the lease in July of 2009. The apartment complex quickly sold of the debt to a collection agency. The mail started coming for collections, but never anything in my name, only hers. In 2010 my mother filed bankruptcy on all debts pertaining to her business, which to my knowledge, included the remaining due balance of the apartment for 6 months. It's now 2014, and I still have not received any communication from the collection agency wanting me to pay the debt. They just keep raising the debt amount and tanking my credit score.

 

I'm getting married this year, and we have been considering our housing options. Right now we rent, but we don't want to rent forever. I've had a broker tell me that to qualify for a mortgage, I have to get that debt off of my credit, obviously, but he says I have to settle with them and pay something, which honestly I'm not thrilled about the possibility.

 

I have also had other people tell me that the agency can no longer try to collect that debt because of my mothers bankruptcy.

 

I've tried to do some research on SOL, and found that written contracts for Arizona have a 6 year life span, but I'm not sure if that pertains to me either.

 

Well, the broker is wrong in that paying the debt to settle it is not the only way to get it off your credit report.  It will automatically drop off in 2016 but that is a long time to wait if you want to buy a house and not start a new marriage with credit in the toilet.

 

"Other people" are also wrong about your mother's BK.  Her filing absolves HER of the obligation to pay the debt it does absolutely NOTHING for you as a co-signor/co-tenant.  You remain obligated.

 

That is the bad news.  Now for the good news.  Apparently this is the third or fourth business name for this company and they have been shut down by the AG in the past for their business practices.  It also appears they are illegally adding interest and fees to your balance that they are not entitled to do.  I have yet to see an apartment lease that allows for this.  

 

I would start with a dispute to the CRAs as "not mine" and see if they validate.  If they do then I would DV them.  The next step would also be a complaint to the CFPB, BBB, and AG in their state.  

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