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Asset reporting "disputed by consumer" but I never did.


PayCutHurtMe
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Asset sued me on three accounts back in April 2013. They sent a local lawyer to try to settle and when I wouldn't, he withdrew the complaints. They report every month like clockwork and apparently, they have been reporting it as "disputed by consumer."

I never DV'd them and I've never disputed any of the accounts with them or the CRA's. I have old EQ and EX reports from May 2012 and the disputed by consumer comment is not there.

I don't know if a disputed by consumer comment is good, bad or indifferent. All I know is I've never disputed the trade lines.
Here are the CRA entries for one of the accounts.

Also, the balance due goes up every month. The OC charged off $5726. On my May 2012 report the balance due was $6090 and now it is $7035. Obviously, they are adding post CO interest at the statutory rate.

Do I have any kind of leverage here for getting them off my reports?

EQ

ASSET ACCEPTANCE CORP
Asset Acceptance,Llc PO Box 2036
Warren, MI 480902036
(844) 2361959
Account Number: WELLS FAR11234XXXX
Current Status:
Account Owner: Individual Account.
High Credit: $5,726
Type of Account : Open
Credit Limit: N/A
Terms Duration:
Terms Frequency:
Date Opened: 04/29/2011
Balance: $7,035
Date Reported: 03/04/2015
Amount Past Due: $7,035
Date of Last Payment:
Actual Payment Amount: $0
Scheduled Payment Amount: $0
Date of Last Activity: N/A
Date Major Delinquency First Reported:05/2011
Months Reviewed: 46
Creditor Classification: Retail Activity
Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed:
Type of Loan:
Date of First Delinquency: 12/2009
Comments: Consumer disputes this account information, Collection account

TU

ASSET ACCEPTANCE LLC #11234****
PO BOX 1630
WARREN, MI 480901630
(800) 5459931
Placed for Collection:04/29/2011
Responsibility: Individual Account
Account Type: Open Account
Loan Type: FACTORING COMPANY ACCOUNT
Balance: $7,035
Date Updated: 04/03/2015
Original Amount: $5,726
Original Creditor: WELLS FARGO RAYMOUR FLANIGA (Retail)
Past Due: >$7,035<
Pay Status: >In Collection<
Remarks: ACCT INFO DISPUTED BY CONSUMR; >PLACED FOR COLLECTION<
Estimated month and year that this item will be removed: 11/2016

EX

ASSET ACCEPTANCE 11234....
PO BOX 1630
WARREN MI 48090
800 614 4730
Recent balance: $7,035 as of 03/04/2015
Date opened 04/2011
Status: Collection account. $7,035 past due as of Mar 2015.
Address identification number: 0658903301
Original creditor: WELLS FARGO/ RAYMOUR FLANIGA
Type: Debt Buyer
Terms: 1 Months
On record until: Sep 2016
Credit limit or original amount: $5,726
High balance: $0
Monthly payment: $0
Recent payment: $0
Date of status: 09/2011
First reported: 08/2011
Responsibility: Individual
Comment: Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).
 
 

 

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@PayCutHurtMe

 

Did you deny the debt in the lawsuit? 

 

What does Wells show as the charge-off amount?   Also, what amount does Wells show at the time the account was sold?

 

@BV80

 

When I went to court, the lawyer tried to get me to settle. When I wouldn't, he withdrew. We never went in front of the magistrate.

 

Wells shows the charge off amount as $5726 as of April 2011, the same month they sold it to Asset. Wells hasn't updated since.

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@PayCutHurtMe

 

Some courts have ruled that if an OC stops charging contractual interest after charging off an account, then the OC has waived the right to charge that interest.  As a result, that waiver would apply to a JDB who purchases the debt, and the JDB wouldn't be able to charge contractual interest.   It's obvious that Asset is charging interest.

 

I don't know if your courts have made that same ruling or not, but you could dispute the balance on your CR.    If they verify it, then dispute directly with the JDB, or speak to a consumer attorney.  He may know if your courts have made a ruling on the issue.

 

BTW, what's the SOL in PA?

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@PayCutHurtMe

 

Some courts have ruled that if an OC stops charging contractual interest after charging off an account, then the OC has waived the right to charge that interest.  As a result, that waiver would apply to a JDB who purchases the debt, and the JDB wouldn't be able to charge contractual interest.   It's obvious that Asset is charging interest.

 

I don't know if your courts have made that same ruling or not, but you could dispute the balance on your CR.    If they verify it, then dispute directly with the JDB, or speak to a consumer attorney.  He may know if your courts have made a ruling on the issue.

 

BTW, what's the SOL in PA?

 

@BV80

 

SOL in PA is 4 years. I'm in that limbo state now. All my derogs are 5 to 5 1/2 years old. I figured instead of just sitting around waiting for stuff to age off, I might as well try to get stuff deleted.

 

The only case law I found for PA is a ruling where the court found it was an FDCPA violation for a debt buyer to add interest and not disclose it in their collection letters. I have 3 sets of letters from Asset, each subsequent letter showing a higher balance, and no mention of interest in any of them.

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@PayCutHurtMe

 

In Lukawski, the judge ruled that if a first letter discloses that interest will accrue, then subsequent letters must also do so.

 

I'd dispute the amount with the CRAs.  If it comes back verified, then you could dispute it directly with Asset. 

 

Do you still have the paperwork from the lawsuit?  Did it include credit card statements from WF?

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@PayCutHurtMe

 

In Lukawski, the judge ruled that if a first letter discloses that interest will accrue, then subsequent letters must also do so.

 

I'd dispute the amount with the CRAs.  If it comes back verified, then you could dispute it directly with Asset. 

 

Do you still have the paperwork from the lawsuit?  Did it include credit card statements from WF?

 

@BV80

 

It was in Magisterial District Court (small claims). There was absolutely nothing attached to the complaint.

Their lawyer didn't even have anything except a one page printout of Asset's account info screen for each of the 3 accounts.

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