I had a creditcard debt charged off. The debt was then sold to a debt collector.?
A short time later, they sold the debt to ANOTHER debt collector. When I dispute this with the three bureaus, it goes off of my credit report, and then it reappears a few months later. The amount is getting out of hand! How do I get this item removed from my credit report? I have my canceled check of the exact amount they asked for over the phone, but now this debt is in the hands of another creditor. What do I do? Thank you!
Answers:
You need to get it in writing before you send them any money. Everthing has to be in writing. Send a cashiers check and no electronic access to you bank account. You have to save everything for the rest of you life too. Because years later it could come back up.
Check out daveramsey.com and listen to his radio show or find a radio station near you to listen to. He has lots of good advice on money and debt.
that's why you have to get them to discharge the debt, in writing, before you pay them off.
you can get it fixed on your credit report again - since it' the same debt.
but don't pay off another creditor - threaten to sue them, and they'll back off.
I hope you have a receipt of that transaction of payoff. You may have to send that in with the highlighted portion of your credit report of that debt.
Call the original creditor and tell them to cancel, because of the debt paid. When you dispute again, be sure to note that this account was cleared with the original creditor.
Send that in writing to both the collections and the original debtor and also to the Fair Trade Commission, and let them know to stop harassing you and your family.
Go to this website and complete online.
Good Luck
Oh dang! You'll need more than a canceled check to prove that you paid the debt. Contact the previous collection agency (the one you paid the money to) and ask them for a letter stating that the debt has been settled. That way, you will have a copy for your records and it will reference the account number, the amount and so on. That is the info you will need to dispute it with the three bureaus.
In the meantime, you can try to send a copy of the canceled check to the bureaus and see if they will update the debt to state that it was settled or paid. I'm not sure if they'll accept it or not. If the credit bureaus correct the error, you can send a copy of them to the current collections agency as proof that the debt does not exist. No one will fight with credit bureaus. ;-)
Good luck!
This is exactly why I have been here posting for many months..I've warned people many times about this exact stuff!
I sure wish you had been here sooner. Now you are in for a fight, but you will win if you follow these instructions.
From now on, you do everything in writing. Get names, dates and details of everyone you talk to. Because as of now you have nothing to prove your case.
Sure, you have a canceled check, but I'm going to bet it was for a "settled" amount less then what you owed, right? Unless you can prove that there was such an agreement, the new collection agency will continue to hound you for the rest of it.
So contact the first collection agency and get a letter form them stating that the amount was "payment in full". Once you have that, send copies off to the credit bureau and the second collection agency demanding validation. If they still report it, you now have grounds to sue them for $1000.
You need to read the Fair Debt Collections Act and the Fair Credit Reporting Act and learn your rights!
If you need further help contact me.
This is actually very common. However, there are ways of handling them. We represent a national attorney network that returns the favor by suing the debt collector. Why? They routinely break Federal Law such as the Fair Debt Collection Practices Act and Fair Credit Reporting Act. We find that in 99% of the cases, the penalties for those violations completely off set the debt. We also assist in removing any unsubstantiated negatives off of your credit file. If you would like to find out more please do take the time to visit www.DebtorAid.net . We offer a free no obligation consultation with one of our attorneys.
dispute it consult attorneey
Unless your original payment was balance in full, then you only paid a settlement amount. It doesn't seem fair, but they then in turn sold the unsettled amount to another company. Your first right is to ask the next company to prove the amount you owe. You have 30 days to do this. However, it will show that you only paid a settled amount. Unless the one you paid off, agrees to send you a paid in full letter, then you still owe. I've seen students denied education loans for this reason. even though you paid the settled amount, it will also still show on your credit report for the unpaid portion of your debt. How unfair is that.
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