DCSportbikes.net  
» Help Support .NET!
DCSportbikes Premier Membership for 25$ per year. Discounts! Click here for full information.

Now available in the .NET Shop:



Get your DCSBN Gear!
» Shoutbox
Sorry, only registered users have the ability to use our real-time shoutbox to chat with other members.

Register now, it's free!
» Online Users: 542
4 members and 538 guests
CrazyMotorcycleGuy, davidcycle, Scot, tonetone
Most users ever online was 4,519, September 2, 2015 at 03:26 AM.
Go Back   DCSportbikes.net > Non-Sportbike Forums > Non-Sportbike Chat

Reply
LinkBack Thread Tools
creditor issue and question
Unread
  (#1)
SPANNERWRENCHCLICKCLICK
 
Jw626's Avatar
 
Posts: 3,308
Join Date: June 28, 2011
Location: Catonsville
creditor issue and question - December 19, 2011, 07:01 PM

I checked the mail today and had an odd collection letter, Reason i say odd is because I have had no negative credit for a few years now.

Anyway I had a Kohls Card that was sent to collection YEARS ago when I say years i Mean in 2000. It went to collections however during my last deployment me and the wife PAID everything off both our credit report when i say everything i mean everything (All three bureaus) with the exception of our cars and motorcycle.

So can a company just randomly pick up/make up something owed? Im going to call tomorrow and see what its about but i thought it was weird especially them having this address.


[SIGPIC]http://www.griseldaonline.it/foto/6galleria/tradimenti/warhol%20last%20supper%201986.jpg[/SIGPIC]The tragedy of life is not that it ends so soon, but that we wait so long to begin it.

  Send a message via AIM to  
Reply With Quote
Unread
  (#2)
Your Ad Here
 
Heist's Avatar
 
Posts: 32,590
Join Date: August 25, 2008
Location: Washington, D.C.
December 19, 2011, 07:30 PM

Creditors or collections agencies can continue to make attempt to collect on outstanding debt for as long as the debt is outstanding or until they charge it off on their taxes as a loss.

What they cannot do is report it to a Credit Reporting Agency after 7 years from the date of last activity or contact WITH THE ORIGINAL ACCOUNT ISSUER.

So if Kohl's stop trying to make collections attempts (directly) in 2003 let it lay dormant, then turned this debt over to an agency or sold it off in 2006, your 7 year clock started in 2003.

Basically, take the letter - make a paper airplane and laugh as it floats in the breeze.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

- Nicolo Machiavelli 1469-1527

  Facebook Page MySpace.com Page Send a message via AIM to  
Reply With Quote
Unread
  (#3)
SPANNERWRENCHCLICKCLICK
 
Jw626's Avatar
 
Posts: 3,308
Join Date: June 28, 2011
Location: Catonsville
December 19, 2011, 07:33 PM

ok, Im sure we paid it off with another creditor, but i would have to go throw alot of paper work thats still packed up.


[SIGPIC]http://www.griseldaonline.it/foto/6galleria/tradimenti/warhol%20last%20supper%201986.jpg[/SIGPIC]The tragedy of life is not that it ends so soon, but that we wait so long to begin it.

  Send a message via AIM to  
Reply With Quote
Unread
  (#4)
SRWJTS SGT-At-Arms
 
Fitz's Avatar
 
Posts: 17,473
Join Date: October 1, 2002
Location: King George, VA
December 19, 2011, 07:33 PM

Always keep records when paying collections agencies. They are notorious for fuckin up


-Fitz

2016 Harley Softail Slim S
2012 Harley Ultra Limited in Ultra Annoying Orange Sold!
2012 V-Strom 1000 Sold!
2009 Buell 1125R Sold!
2005 Superhawk Sold!
2001 Superhawk Abandoned!
1981 CB650C Destroyed!

Brace Yourselves... the cries of "It's too cold to ride" are coming...
  Send a message via AIM to  
Reply With Quote
Unread
  (#5)
Got Any Gwapes?
 
boomboom929's Avatar
 
Posts: 2,362
Join Date: December 19, 2003
Location: Rockville
December 19, 2011, 07:39 PM

Quote:
Originally Posted by thefitzvh View Post
Always keep records when paying collections agencies. They are notorious for covering up

Fixerated


"I didn't know they gave out rings at the Holocaust"

*GODFATHER*
  Send a message via AIM to Send a message via Yahoo to boomboom929  
Reply With Quote
Unread
  (#6)
Your Ad Here
 
Heist's Avatar
 
Posts: 32,590
Join Date: August 25, 2008
Location: Washington, D.C.
December 19, 2011, 07:45 PM

Quote:
Originally Posted by Jw626 View Post
ok, Im sure we paid it off with another creditor, but i would have to go throw alot of paper work thats still packed up.
Quote:
Originally Posted by thefitzvh View Post
Always keep records when paying collections agencies. They are notorious for fuckin up
This and they are notorious for trying to double dip.
They'll buy it from company X for a 7-10 cents on the dollar. Make some attempts - if that doesn't work they'll charge it off.

Legally they're not supposed to make any further action on the debt once this has been done. But they let it "sleep" for a few years and then reopen the case and try to double dip on it.

If caught by consumer protection, they call it a clerical error - file bankruptcy to avoid fines and penalties, close the business. Then they'll re-open next month with a "new" owner and a new name, and start operations all over again often in the same building.

David Rosenberg got his hand smacked a few times doing this before he started UniFund.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

- Nicolo Machiavelli 1469-1527

  Facebook Page MySpace.com Page Send a message via AIM to  
Reply With Quote
Unread
  (#7)
EFI - 07/C2
 
bcr229's Avatar
 
Posts: 657
Join Date: August 27, 2011
Location: Eastern WV Panhandle
December 19, 2011, 07:48 PM

Read and learn: creditboards.com

What little I do know is that if the debt is old, you do not want to make a payment as that resets the statute of limitations.


http://www.ExtremeFirepower.com/ - EFI, LLC - Custom Precision Rifles, Gunsmithing, & Machine Gun Rentals

http://www.TankVest.com/ - Attach MOLLE gear to your KLR, KTM, or VStrom gas tank

Each player must accept the cards life deals him or her, but once they are in hand, he alone must decide how to play the cards in order to win the game.
- Voltaire
  Facebook Page Send a message via AIM to  
Reply With Quote
Unread
  (#8)
Your Ad Here
 
Heist's Avatar
 
Posts: 32,590
Join Date: August 25, 2008
Location: Washington, D.C.
December 19, 2011, 07:52 PM

Quote:
Originally Posted by bcr229 View Post
Read and learn: creditboards.com

What little I do know is that if the debt is old, you do not want to make a payment as that resets the statute of limitations.
This.
If you make a payment or in some cases even make contact, you reset the clock.

If you make a choice to strategically default make sure you're willing to stick it out for 7 years no matter how much they call and write.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

- Nicolo Machiavelli 1469-1527

  Facebook Page MySpace.com Page Send a message via AIM to  
Reply With Quote
Unread
  (#9)
Derpetologist
 
Posts: 6,270
Join Date: September 7, 2010
December 19, 2011, 07:54 PM

I had stupid bank fine sent to collections once. I had paid it off and a couple months later my bank sends me a letter saying I've been sent to collections, and then I started getting hassled by a collections agency. Once I verified all was good with the bank I called the collection agency back and informed them I had corrected it... all was good after.

I dunno man, I just picked up the phone and talked to them. You don't have to give them money right away (or ever). It's not like there's a swat team waiting outside while you're on the phone with them, lol.


*Not intended to be a factual statement.
  Send a message via AIM to  
Reply With Quote
Unread
  (#10)
SPANNERWRENCHCLICKCLICK
 
Jw626's Avatar
 
Posts: 3,308
Join Date: June 28, 2011
Location: Catonsville
December 19, 2011, 08:04 PM

Quote:
Originally Posted by Rail View Post
I had stupid bank fine sent to collections once. I had paid it off and a couple months later my bank sends me a letter saying I've been sent to collections, and then I started getting hassled by a collections agency. Once I verified all was good with the bank I called the collection agency back and informed them I had corrected it... all was good after.

I dunno man, I just picked up the phone and talked to them. You don't have to give them money right away (or ever). It's not like there's a swat team waiting outside while you're on the phone with them, lol.

this kind of thing happend to me with bofa, I had made the choice in 04 to convert to Usaa I set up my car payment to use my Usaa and shut my BofA account down (of course after everything cleared) I guess my Loan company at the time tried pulling out of the BofA account (which was closed) and called me saying the payment didn't go through , So i had to redo the setup one more time,My loan was paid...


About a month later I get something from BofA saying I owed 450$ to them for fees and the car payment, It took A while for me to get that dropped but I had all my transactions for my car payments, and showed them they never made "that payment" since the account was A.closed and B. i didnt have a double payment for that month.


I have all my papers its just opening the boxes to figure which its in


[SIGPIC]http://www.griseldaonline.it/foto/6galleria/tradimenti/warhol%20last%20supper%201986.jpg[/SIGPIC]The tragedy of life is not that it ends so soon, but that we wait so long to begin it.

  Send a message via AIM to  
Reply With Quote
Unread
  (#11)
GP Champ
 
nootherids's Avatar
 
Posts: 2,662
Join Date: January 12, 2011
Location: Woodbridge, VA
December 19, 2011, 08:47 PM

FYI, it's not your duty to prove to them that you paid or didn't pay. They are the ones that are required by law to have fully documented proof that they have a valid claim against you.

My girl has had amazing success getting these types of claims wiped clean. Try talking to them first and if that doesn't work then let me know and I'll give you the details of what you need to do. Btw, get the names/employee ids and dates/times of everyone you talk to. They record these conversations. Request that they be removed from ALL credit reports. And follow up like a boss. You may also want to sign up for one of those credit monitoring services which notify you you immediately when a change occurs on tour report. $15/month well spent for 6 months to make sure your credit stays clear.
  Send a message via AIM to  
Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Powered by vBadvanced CMPS v3.2.3


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.0
vBulletin Skin developed by: vBStyles.com
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest © 2002-2010 by DCSportbikes.net. DCSportbikes.net is owned by End of Time Studios, LLC.