oreoman Posted November 14, 2018 Report Share Posted November 14, 2018 Hey all, So dealing with my report and want to know if the original Creditor can still post on my CR, even after selling debt to CA. Can I write the CRA and ask to remove since debt has been sold?? how can I limit amount of negative since its the sae one? Thanks, Oreoman Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 14, 2018 Report Share Posted November 14, 2018 16 minutes ago, oreoman said: Hey all, So dealing with my report and want to know if the original Creditor can still post on my CR, even after selling debt to CA. Can I write the CRA and ask to remove since debt has been sold?? how can I limit amount of negative since its the sae one? Thanks, Oreoman Once an account has been sold, the OC’s entry still remains. Does the OC’s entry show that the account was “sold”, “transferred”, or purchased by another lender”? Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 14, 2018 Author Report Share Posted November 14, 2018 Hey BV80, No, just pulled my credit a week ago, and it still shows only Bank of America on my record not National Enterprise Systems...who sent me the CA letter. It still shows a balance of 4,xxx on my report under BofA. Can I write the CRA and ask it to be removed, due to this violation? Quote Link to comment Share on other sites More sharing options...
Harry Seaward Posted November 14, 2018 Report Share Posted November 14, 2018 7 minutes ago, oreoman said: Can I write the CRA and ask it to be removed, due to this violation? No because it's not a violation until they know it's inaccurate. When you let them know, they simply correct it and then it's business as usual. How long ago was it sold? I'm wondering if it just hasn't updated yet. Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 14, 2018 Report Share Posted November 14, 2018 27 minutes ago, oreoman said: Hey BV80, No, just pulled my credit a week ago, and it still shows only Bank of America on my record not National Enterprise Systems...who sent me the CA letter. It still shows a balance of 4,xxx on my report under BofA. Can I write the CRA and ask it to be removed, due to this violation? It’s possible it hasn’t been sold. The CA may be collecting for the OC. In the CA’s letter, who does it name as the current creditor? Quote Link to comment Share on other sites More sharing options...
Clydesmom Posted November 15, 2018 Report Share Posted November 15, 2018 According to Google National Enterprise is a collection agency not a debt buyer. Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 3 hours ago, BV80 said: It’s possible it hasn’t been sold. The CA may be collecting for the OC. In the CA’s letter, who does it name as the current creditor? It names B of A as the creditor. So basically no way to get this removed??? been searching the internet for ways to get a few items removed. Found a bunch of info on finding inaccuracies and sending letter to CRA's for deletion. Any good action plans you guys have on that???? Also, just got new CA letter in the 30 day window, and going to send validation letter. What exactly do they have to send me to properly verify it???? So if they don't I can respond and get it removed due to improper verification. I read up, and it has to show signed contract, last payment, etc....correct? Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 3 hours ago, Harry Seaward said: No because it's not a violation until they know it's inaccurate. When you let them know, they simply correct it and then it's business as usual. How long ago was it sold? I'm wondering if it just hasn't updated yet. It was sold about 5 months ago. So do you have any ways to get items removed from CRA's due to inaccuracies, wrong info, etc. found a good Youtube talking about using incorrect balances, missing info, violations etc. Is there a list somewhere of what violations are grounds for removal? I have looked and think I might just have to read the FCRA,lol Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 15, 2018 Report Share Posted November 15, 2018 20 minutes ago, oreoman said: It was sold about 5 months ago. So do you have any ways to get items removed from CRA's due to inaccuracies, wrong info, etc. found a good Youtube talking about using incorrect balances, missing info, violations etc. Is there a list somewhere of what violations are grounds for removal? I have looked and think I might just have to read the FCRA,lol The collection letter names Bank of America as the current creditor. Your credit report does not show that B of A sold the account. The account has not been sold. Why do you think it was sold 5 months ago? Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 2 minutes ago, BV80 said: The collection letter names Bank of America as the current creditor. Your credit report does not show that B of A sold the account. The account has not been sold. Why do you think it as sold 5 months ago? First, just wanna say thank you for the quick and helpful responses!!! Such a huge help. The credit I pulled last week had nothing saying it was sold, but the reason I said 5 months was it was the date of the letter I received from national enterprise systems. So if they are collecting then they bought the debt right?? Or are they just an agent for BofA? Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 15, 2018 Report Share Posted November 15, 2018 1 minute ago, oreoman said: First, just wanna say thank you for the quick and helpful responses!!! Such a huge help. The credit I pulled last week had nothing saying it was sold, but the reason I said 5 months was it was the date of the letter I received from national enterprise systems. So if they are collecting then they bought the debt right?? Or are they just an agent for BofA? Not all collection agencies purchase defaulted accounts. Some collection agencies are merely hired by OCs to collect debts for the OC. Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 2 minutes ago, BV80 said: Not all collection agencies purchase defaulted accounts. Some collection agencies are merely hired by OCs to collect debts for the OC. The account has been a charge off since 7/2018, and they closed my ability to use the credit 4/2017........so its still with BofA not sold? What action can I take to try and get it removed pay for delete?? dispute with CRA's first? Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 15, 2018 Report Share Posted November 15, 2018 27 minutes ago, oreoman said: The account has been a charge off since 7/2018, and they closed my ability to use the credit 4/2017........so its still with BofA not sold? What action can I take to try and get it removed pay for delete?? dispute with CRA's first? You must have a valid reason for a dispute. The creditor can verify that the information in the entry is correct. If there are inaccuracies, they merely must to be corrected. In the event inaccuracies are not corrected, it does not necessarily result in a deletion of the entry. It may only result in a deletion of inaccurate information. You could offer a PFD, but the OC does not have to agree. Just a note: if the OC were to sell the account to a debt buyer, the OC’s entry would still remain on your credit report. The OC would report that the account has been sold or transferred and would show a zero balance. After that, the OC would no longer update each month. At some point, the debt buyer could start reporting. However the debt buyer’s entry would fall off at the same time the OC’s entry falls off. The date an account falls off of your credit report is based upon the date of first delinquency provided by the OC. Negative information falls off about seven years after that date of first delinquency. Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 13 minutes ago, BV80 said: You must have a valid reason for a dispute. The creditor can verify that the information in the entry is correct. If there are inaccuracies, they merely must to be corrected. In the event inaccuracies are not corrected, it does not necessarily result in a deletion of the entry. It may only result in a deletion of inaccurate information. You could offer a PFD, but the OC does not have to agree. Just a note: if the OC were to sell the account to a debt buyer, the OC’s entry would still remain on your credit report. The OC would report that the account has been sold or transferred and would show a zero balance. After that, the OC would no longer update each month. At some point, the debt buyer could start reporting. However the debt buyers entry would fall off at the same time the OC’s entry falls off. The date an accounts falls off of your credit report is based upon the date of first delinquency provided by the OC. Negative information falls off about seven years after that date of first delinquency. So the CA can't add additional negative item on my credit, only if debt is sold? another question.....If I have another debt in the 30 day validation period, and send the letter and they respond what info qualifies as validation??? do they have to prove with actual contracts and hard proof? is there a difference between validation and verification? Quote Link to comment Share on other sites More sharing options...
BV80 Posted November 15, 2018 Report Share Posted November 15, 2018 Just now, oreoman said: So the CA can't add additional negative item on my credit, only if debt is sold? another question.....If I have another debt in the 30 day validation period, and send the letter and they respond what info qualifies as validation??? do they have to prove with actual contracts and hard proof? is there a difference between validation and verification? Yes, the CA can report. The threshold for validation is fairly low. For credit card debt, a contract is not necessary. The debt collector merely must confirm that you are the correct consumer and that the amount being claimed is the amount that is owed. A credit card statement would be sufficient. Courts do not differentiate between verification and validation. Read the following thread https://www.creditinfocenter.com/community/topic/328187-fdcpa-debt-validation-myths/ Quote Link to comment Share on other sites More sharing options...
oreoman Posted November 15, 2018 Author Report Share Posted November 15, 2018 21 minutes ago, BV80 said: Yes, the CA can report. The threshold for validation is fairly low. For credit card debt, a contract is not necessary. The debt collector merely must confirm that you are the correct consumer and that the amount being claimed is the amount that is owed. A credit card statement would be sufficient. Courts do not differentiate between verification and validation. Read the following thread https://www.creditinfocenter.com/community/topic/328187-fdcpa-debt-validation-myths/ BV80 I'm gonna give my questions a rest for now! Thank you for all the insights, and good information! Have a good one. 1 Quote Link to comment Share on other sites More sharing options...
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