billyg35

Security Credit Services

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This just showed up on my Equifax account... I believe  it is for an older Citi Credit Card that the SOL will be up in Aug of this year.

 

On the report it has this information

 

Security Credit Services

Date opened 12/2/2013

Date reported 01/16/14

Date of First Major Delinquency 

Date of first Delinquency 08/2008

 

I have never received any letters or communication from them??

Not sure where to start??? 

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You wait for the SOL for a lawsuit to expire before you stir the hornet's nest.  They do not have to dun you before reporting.  You want to avoid a lawsuit if you can.  After August you can start DVing and disputing to get it removed.  Anything you do right now is likely to stir a hornet's nest.

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Ha, one small look into the Google magic mirror shows these guys are already on a short leash from the Feds. This is from the BBB. also, was part of the Jacob Law Group.  Personally, in this case I Would send a strongly worded DV one of the nutcase versions.

 

http://www.ftc.gov/news-events/press-releases/2013/03/settlement-ftc-debt-collectors-agree-stop-deceiving-consumers-and 

 

Government Actions

Federal Trade Commission, Plaintiff, v. Security Credit Services, LLC, and Jacob Law Group, PLLC, Defendants
Date of Action: 3/13/2013
On March 13, 2013 the Federal Trade Commission alleged the company violated the FTC Act and Fair Debt Collection Practices Act by falsely threatening to sue consumers as a means of getting them to pay.  The FTC filed the complaint in the U.S. District Court for the Northern District of Georgia, Atlanta division and has submitted the proposed consent decree to the court for approval.

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I don't know hwere your from, but what is your sol? How do you know it will be up in aug?

I would not start anywhere, just let it sit like clydesmom said, after the sol has passed, you can dispute it, and send them a FOAD letter.

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Six year old debt now belonging to a JDB. I'd DV them with a demand for everything (even though knowing the threshold is low). Make threats. They will go away. Of course I like aggravating a JDB.

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I live in Michigan SOL 7 years 

I'm guessing Aug 2008. due to the statement of   Date of first Delinquency 08/2008 on the report

 

Michigan SOL on credit cards is 6 years not 7.  If the DOFD is August then this summer the SOL on suit will expire.

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Six year old debt now belonging to a JDB. I'd DV them with a demand for everything (even though knowing the threshold is low). Make threats. They will go away. Of course I like aggravating a JDB.

 

Making threats on a debt they can sue over is REALLY risky.  

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Glad I'm not you. A Citi card that has probably been passed around several times? A JDB who is now leery of the law? I'd let them know out of the gate I was going to defend against a suit.

 

Now, I really don't want to argue with Clydesmom, personally can't stand the woman.

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Glad I'm not you. A Citi card that has probably been passed around several times? A JDB who is now leery of the law? I'd let them know out of the gate I was going to defend against a suit.

 

Now, I really don't want to argue with Clydesmom, personally can't stand the woman.

I seriously doubt that being sued once makes a JDB leery of the law, even when the FTC hits them with a large penalty.  If that were the case, Midland, PRA etc would all be gone.  Also, OP is in Michigan which, from what I can understand, is not a debtor-friendly state.  If you dig a little deeper into Security Credit Services, you find that they are, indeed, actively filing suits on debts.

 

While it's no guarantee that you won't be sued on this, OP, I would definitely lay low until the SOL expires before poking the bear.

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Now, I really don't want to argue with Clydesmom, personally can't stand the woman.

 

You don't even KNOW me.  ANY opinion you have is not based upon meeting me, knowing me personally, or ever having any contact with me professionally.  

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@Credithis

 

 

Six year old debt now belonging to a JDB. I'd DV them with a demand for everything (even though knowing the threshold is low). Make threats. They will go away. Of course I like aggravating a JDB.

 

Whether or not a threat works can depend upon the JDB.  If it's a JDB that never files suit, it could work.  But that's not necessarily the case with major JDBs such as Midland, Portfolio, Cavalry, etc. 

 

You can imagine that those companies receive threats all the time.  More than likely, unless a threat is valid, they toss them. 

 

Also, I would never make a threat unless it's valid, and I will follow through.  While you and I might follow through, many people will not.  That's one of the reasons some JDBs might not take threats seriously.

 

In any case, the OP's debt is within the SOL for both collection and reporting.  What could the OP threaten?

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Personally, I try to assume that anyone who offers advice FOR FREE in a self-help forum such as this, and does so frequently and pleasantly, is a decent human being.

 

OTOH, telling the OP to threaten a JDB, when s/he's only 6 months from SOL is, IMO, irresponsible, and likely to end in, if not sorrow, at least a lot more work for that OP.

 

It stinks to have a new collections TL on your report. But with a DOFD of 8/2008, it's not all that damaging, really.

 

I assume you have a lot of more recent and better looking TLs, right? Potential lenders and credit card companies are more interested in what you have done with your credit in the past 24 months than what you did 5 and a half years ago.

 

Hard as it is, just sit tight. 

 

I co signed on a loan with a subsidiary of Sallie Mae for my son, back in 2004. I was paying the interest for him, then he dropped out of school, and they accelerated it. The last payment was in 12/2006. I bit my tongue all through 2012 (SOL in MN is also 6 years), and so VERY much enjoyed telling a CA scumbag to FOAD when he called me last summer. OK, not in so many words, but still...

 

You'll have your chance, but you don't want to wake sleeping dogs. IF they send you a dunning letter, just send a standard DV. Otherwise, you never knew they were there, right?

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