New collection agency

[girlegirl7101]

My husband has been doing the waiting game for all his bad debt to fall off and the time has come or so I thought. I signed up for myfico which showed a fico for him of 756 and equifax showed NO bad debt. Just 3 months ago I checked trans and there were 4 bad ones which had a estimated date this item will be removed for 8/09, 10/09, 9/09.. the forth is a 30 day late that is still currently on his report. So on 11/10 is when i check his credit with equifax and his mother got a letter from capital management services on 11/07stating they have been engaged by arrow financial services to resolve his delinquent debt. I need to print out the other two reports to see what all is on them. The kicker is we just applied for a new card and sent in bank statements and paystubs just yesterday. What is the worse that can happen? Can this new collection agency put a new neg on his report. Can they get out bank account info? What I dont get is they are sending the mail to his moms which he hasent lived there in almost 7 years. The letter states they will obtain verification of the debt or obtain a copy of a judgment and mail us a copy of such verificaion or judgment. The funny thing is they want just 15% of the debt..LOLOLOLOL What to do??

[RacerX780]

Send a DV ASAP. If it is not reporting, that should keep them from reporting it to the CRAs. And if they do, after they get the DV, you'd have them on continued collection prior to validating.

 

If the debt is old and shouldn't even be reported, then they shouldn't be albe to report it unless they reage it, which would be another violation.

[beli]

Have your Husband pick up that letter ASAP and dv them ASaP.

 

Yes, they can put it on his credit report, but dving them SHOULD keep them off. However, Arrow has been known not to play by the "rules" do a search for Arrow Financial and you'll find lots of useful information.

Edited November 20, 2009 by beli

[girlegirl7101]

annn man that sucks.... I avoid this for two years just to not have to deal with it. Well when I get back for stone soup at my boys school I will start looking into doing a dv and pulling my other reports.

[girlegirl7101]

experian came up with no neg on it. Would you really send the letter considering its pass the time for the to be able to report it.

[beli]

experian came up with no neg on it. Would you really send the letter considering its pass the time for the to be able to report it.

With t his being Arrow YES.

 

Or any other CA for that matter. If you do not send the letter, it could go on your report after 30days and would be much harder to get off.

[girlegirl7101]

So send this...

copied for the newbie area...

Credit Reporting Agency

12345 XXXXX street

Wherever, USA

 

 

Dear Credit Reporting Agency,

 

Please provide evidence that the following account belongs on my report and that my rights have not been abrogated.

In the event that none exists, please delete this damaging account.

 

Account Name, Account #######

 

Your Name,

Your Address

Your report or confirmation number if availaible

[beli]

So send this...

copied for the newbie area...

Credit Reporting Agency

12345 XXXXX street

Wherever, USA

 

 

Dear Credit Reporting Agency,

 

Please provide evidence that the following account belongs on my report and that my rights have not been abrogated.

In the event that none exists, please delete this damaging account.

 

Account Name, Account #######

 

Your Name,

Your Address

Your report or confirmation number if availaible

 

Don't confuse Cra (credit reporting agency) with CA (collection agency). I'd write up something edited like:

 

Please provide evidence that the account you are trying to collect on is valid.

 

I'd also send along a LC&D with it. Something along the lines of "I would also like to request that no phone calls be placed to my home, work, relatives or any other number that you may have for me as it is inconvenient for me to accept phone calls at any time. All communication must be in the form of writing and done through USPS. At any time should this show up on my credit report while this is being disputed, I will not hesitate to seek legal action.

 

If you know your states legal SOL on the debt they are trying to collect as well as the date of first delinquency I'd throw that in there, if your sure this debt is beyond reporting Sol. as well that way you leave no room for error and they can't say they weren't notified.

Edited November 20, 2009 by beli

[girlegirl7101]

How about this..

(My Name)

November 20th 2009

 

Re Account:

 

Dear Capital management services,

 

I dispute your claims in their entirety and request validation pursuant to the FDCPA. I would also request all communication be done though USPS in written form. I do not want any calls to my home, employment or relatives as it is inconvenient for me to accept phone calls at any time. At anytime should this show up on my credit report while it is being disputed I will not hesitate to seek legal action.

 

 

 

Sincerely,

 

Me

 

 

I am so torn on this... I have never sent these letters...

 

the account was 120 days late in 4/03

date of last payment was 11/02

 

Now what does date of major delinquency mean??

that date was 02/2004

Its a charge off account that arrow now has yet they got this other place to mail this to us.

 

The arrow account fell of last month I believe.

[beli]

What was the date of first delinquency? That's usually what Cra's go by for SOL (statue of limitations)

[girlegirl7101]

What was the date of first delinquency? That's usually what Cra's go by for SOL (statue of limitations)

 

 

I am confused where do I find this?

My guess would be jan 03 for a 30 day late...

 

on the calender that one of the cra has is says jan30, feb60, march90, april 120.

 

is that letter fine?

Edited November 20, 2009 by girlegirl7101

[beli]

What was the date of first delinquency? That's usually what Cra's go by for SOL (statue of limitations)

 

 

I am confused where do I find this?

My guess would be jan 03 for a 30 day late...

 

on the calender that one of the cra has is says jan30, feb60, march90, april 120.

 

is that letter fine?

It would be on your hard copies of your credit reports. So by the looks of it January would be your DOFD. Personally I think Arrow is really pushing it. But I'd still send them a DV so they won't report. (or at least shouldn't anyway).

 

Alot of times Cra's will remove accounts that are about to fall off early. Sounds okay I wouldn't mention Sol just yet because techincally they are still within (at least two months) of reporting SOL do you happen to know your states Legal sol? (meaning the amount of time they have before they can attempt to sue you?)

[girlegirl7101]

What was the date of first delinquency? That's usually what Cra's go by for SOL (statue of limitations)

 

 

I am confused where do I find this?

My guess would be jan 03 for a 30 day late...

 

on the calender that one of the cra has is says jan30, feb60, march90, april 120.

 

is that letter fine?

It would be on your hard copies of your credit reports. So by the looks of it January would be your DOFD. Personally I think Arrow is really pushing it. But I'd still send them a DV so they won't report. (or at least shouldn't anyway).

 

Alot of times Cra's will remove accounts that are about to fall off early. Sounds okay I wouldn't mention Sol just yet because techincally they are still within (at least two months) of reporting SOL do you happen to know your states Legal sol? (meaning the amount of time they have before they can attempt to sue you?)

 

4 years. is that letter ok... or do u think they will report it and it will fall of in jan due to the time frame.

[mahler444]

The letter looks fine. You want to send it. If they do start reporting, your scores will drop a lot, and it will be a fight to get them off there. A lot of people have to eventually take them to court and sue them to make it right. Send the letter, it will save you lots of trouble.

[girlegirl7101]

The letter looks fine. You want to send it. If they do start reporting, your scores will drop a lot, and it will be a fight to get them off there. A lot of people have to eventually take them to court and sue them to make it right. Send the letter, it will save you lots of trouble.

Thanks Alot! I am sure this will not be the end of this.. but I hope it is. I will send it today. ONE last thing... Should I give them our current address or let the send stuff to my mother inlaws... Its only down the street..LOL

[beli]

The letter looks fine. You want to send it. If they do start reporting, your scores will drop a lot, and it will be a fight to get them off there. A lot of people have to eventually take them to court and sue them to make it right. Send the letter, it will save you lots of trouble.

Thanks Alot! I am sure this will not be the end of this.. but I hope it is. I will send it today. ONE last thing... Should I give them our current address or let the send stuff to my mother inlaws... Its only down the street..LOL

I would give them your current address, that way that leaves no room for error.

 

Also send this CMRR so you have copies that they received it.

[girlegirl7101]

The letter looks fine. You want to send it. If they do start reporting, your scores will drop a lot, and it will be a fight to get them off there. A lot of people have to eventually take them to court and sue them to make it right. Send the letter, it will save you lots of trouble.

Thanks Alot! I am sure this will not be the end of this.. but I hope it is. I will send it today. ONE last thing... Should I give them our current address or let the send stuff to my mother inlaws... Its only down the street..LOL

I would give them your current address, that way that leaves no room for error.

 

Also send this CMRR so you have copies that they received it.

Ceritifed mail whats the RR?

[beli]

The letter looks fine. You want to send it. If they do start reporting, your scores will drop a lot, and it will be a fight to get them off there. A lot of people have to eventually take them to court and sue them to make it right. Send the letter, it will save you lots of trouble.

Thanks Alot! I am sure this will not be the end of this.. but I hope it is. I will send it today. ONE last thing... Should I give them our current address or let the send stuff to my mother inlaws... Its only down the street..LOL

I would give them your current address, that way that leaves no room for error.

 

Also send this CMRR so you have copies that they received it.

Ceritifed mail whats the RR?

 

Return receipt (Green card)