smnewcomb

I'm hoping someone here can post me a link to what I am looking for. Quite a ways back, there was some discussion on the boards about how CA's are reporting information on credit reports and how listing things such as it being a Factoring Account is illegal or information such as listing it as an installment account is false, or reporting it as Open is false. Would anyone happen to know the link to this information? I've been served and am pulling together my information for my lawyer. I pulled my credit reports for most recent activity, and the current collection agency is listing it as a Data Factoring Account, the date listed as Open is incorrect, date of first delinquency is incorrect AND its listed as a revolving credit account when it is actually an overdrawn checking account (with the total amount being all overdraft fees). I'm hoping between showing which information is listed illegally and incorrectly, plus the fact that they are the 4th collection agency to try and collect on it will help me win. Unfortunately, the account is 2 years old so I still have 2 years to go before SOL is reached. Thanks!

Okay. Here's my ordeal with SM. I have a PRIVATE student loan with them (not a government loan in any way whatsoever) for $11,000 (total due after I pay their outrageous interest rate $16,000). My loan became due for repayment with them in early 2008. I didn't have the money at the time to do so and asked for a deferral. Got it for 3 months, no problem. When the repayment was to start up again, I had just gotten notification that I was going to be laid off from my job within 30 days and told Sallie Mae such and they agreed to defer my loan again. Sent me the paperwork which I sent back to them. I get a letter a few days later telling me that I'm not qualified for "the deferral offered" and need to apply for a different type, yet the paperwork was exactly the same as before. So I sent it back to them. In the meantime, my company managed to place me in another area, so I wasn't laid off. However, I started receiving, on average, about 8 phone calls a day from Sallie Mae collections at my work number regarding my loan. Now, normally I would just ignore a phone call if I don't recognize the number on caller ID, however because of the area I was now working at, all my phone calls are routed through a security station first before being forwarded to me. Which meant a log of the number of times they called me. Supervisor got wind of it and told me to handle it - meaning the company doesn't want me getting these types of personal phone calls at work. I sent Salle Mae a C&D letter asking that they not contact me at my work number as it was putting my job in jeopardy and that all communication should be done via snailmail. I get a letter from some bigwig telling me that it is Sallie Mae's policy that they use every means at their disposal to contact a person whose loan is in default regardless of what that personal situation is. It also stated that if they stopped contacting me at work, then they would also be ceasing ALL communication with me, including sending me any paperwork regarding my loan, current billing statements. Now, by this time, my loan is in DEFAULT with them since their "consumer advocates" can't seem to process deferral paperwork. I get a letter 6 months later (in Sept) telling me that I may qualify for a forebearance and I just needed to fill out a piece of paper and send it back. I did because I was once again under the gun of a pending layoff. This was done on Sept 15th 2008 and I never heard back from Sallie Mae again. I tried calling them a few times to find out the status of my loan and all I was told was that my account has a C&D on it and they can't divulge any information to me, that I had to speak to a certain person. Several times I was transferred to that person and left a voicemail message. Never got a call back. So now, 7 months later, I get a letter from SM telling me that my loan has gone to collections and I need to be ready to repay in full or face possible legal action or garnishment of wages. Since SM was the one that cut all ties, even though I tried, can they actually do anything? I live in Texas so I don't know what the state law is on garnishment of wages. I do know that if they try to, it will force me into foreclosure on my home since at least 2 paychecks every month go towards my mortgage. Any ideas on what I can try and do?

I know a lot of people on this forum have had problems with Sallie Mae in the past and a lot of the advice given has helped me. But now I have another problem that I hope ya'll can give me some advice on. I have a PRIVATE Signature Loan through Sallie Mae (absolutely, NOT a subsizided or unsub loan - no government funding here). I graduated in June of 2007 and when Sallie Mae first contacted me on repayment, I was able to secure a deferral. Since then, because I was suffering some financial hardships, I've been able to get some 3 month deferrals on my loan with them without any problems whatsoever. The problems came in that Sallie Mae started literally hounding me at work with 4 to 5 phone calls a day while the deferral paperwork was being processed. I finally had to send a formal letter to SM asking them to stop contacting me at work at it was putting my job in jeopardy. I asked that all communication be done via the US Mail as I had to have my phone turned off so I could pay other bills and requested one last 3 month deferral, for payment to restart in March of this year. I received a rather nasty response letter from Sallie Mae stating that if I requested C&D calls at work, then they would have to stop ALL communication, including bills and statements being mailed to my home. They also stated they could not give me the deferral. So I called them back and explained that because I work in a classified area and all external phone calls are routed through a Dept of Defense Security switchboard, I cannot receive non-work related phone calls while I am at work. That is why I asked for the cease and decist at work. I DID not ask them to stop trying to reach me at home or through the mail. Their response was if I ask for one form of communication to be cut, they all must be cut. Do they have the right to do that???? I was under the impressions that a C&D letter was allowed under FCRA if the collection phone calls could put my position with the company in jeopardy. Any advice you guys can give would be appreciated. Suzanne

How do you get a 4.5% when your consolidated interest is a weighted average of what you had?? Variables havent been 4.5% for a couple of years. I don't know how I managed to get a rate that low. I know I applied for the consolidation back in April/May through Citibank and they sent all the paperwork through to the Dept of Ed. I had gotten a letter from them stating that they were holding onto my loan paperwork until after the 1st of July because they were anticipating a drop of the interest rates and it could be to my advantage to wait. So I did. When I got all my new paperwork from the Dept. of Education (Direct Loans), it showed my interest rate at 4.5% I didn't question it at all.

I just consolidated all my Stafford loans from Citibank and Wachovia with the Dept. of Education in July 2008. It worked to my advantage because I have a 4.5% Interest rate as opposed to a 7 and 8%. But here is my main question. The Citibank and Wachovia loans are all showing up on my credit report. Even though they ARE showing as consolidated and paid as agreed, I have to wonder if the number of loans showing is hurting me and if so, can I request they be removed? I had something like 12 Citibank loans and 4 Wachovia loans. They are all listed under Closed Accounts. Would Citibank and Wachovia remove them if I asked, or do I just have to deal with them being on for 7 years?

I've got a question about rehab. Basically, exactly what is it? I've been reading a lot of posts and ya'll mention rehab but I haven't found anything that explains what it is. I tried doing a search on "rehab" but since its mentioned so often the forum search feature sort of went beserk on me. Here's my situation. I have a Sallie Mae PRIVATE student loan that is about $12,000. With an extremely high interest rate (I think its about 19%) when the loan is all paid off, I'm going to be paying out almost $60K. I lost my job for about 3 months last year and got rehired in January. My loans to Sallie Mae were to start being paid back last November but with no income, I couldn't do it. I tried calling SM back in February and they were obnoxious, rude and completely unbending. They stated the best they could do was a deferral on my loan. I was thinking GREAT until I was told I could only defer 3 months and since my payments were due to start in November, they could defer Nov, Dec and Jan and would have to start payments right away. I tried to explain that I had been out of work but they refused to listen. So...I know this was a dumb move...but I just can't make any payments to them. My Stafford Loans are all currently being consolidated and I won't start repayment on them until October. I'm on a 3 month mortgage foreclosure forebearance agreement with my bank. So if everyone else is trying to help, why won't SM? I don't want this to go to collections and its about to. From what I've been reading on this site, it seems like a rehab - whatever it is - may be my next shot.

I attended school for 1 year at University of Phoenix via their online program, but left the school after they seriously screwed around with the loan disbursements I was getting from Stafford Loans. This mess up left me owning them a balance of about $4,500. Since then, the account has been transferred over and its now on its 2nd collection agency, called ACT. I just received a phone call from them asking about payment arrangments and if I did not make anything with them, they would send this to ligitation. I told the person that if I was to start paying on the loan, it would be to the original creditor only and not to a collection agency as it's my policy not to deal with them. The amount of money I owe the school is NOT any type of a loan. It is my out of pocket expenses that got doubled after the school cancelled a loan and applied the amount to my balance. So I basically have 2 questions: 1. Is there an SOL on money's owed directly to a collect for students out of pocket expenses? 2. Can the collection agency take me to court over it or should I dispute the account with them and force them to validate? Thanks

Oookay. I have WhyChat's site bookmarked, but am I being dense in seeing which one of the letters is a "nutcase" letter?

I have quite a few accounts listed on my credit that are either showing up a Charged Off, Payment after chargeoff, charged off as bad debt (w/settled for less than full balance). Some of these are not due to drop off until after 2008 and as late as 2010. Is it possible to request that they get dropped off earlier, especially the ones that were paid after collection or with a settlement? If so, does anyone have a well worded letter that could be used? I've been working on cleaning up my account for about 4 months now. Get a few little victories but have not yet won the war. Its now become a mission, especially after getting my scores the other day Equifax: 514 Experian: 551 TU: 539

Anyone hear of BKB & Associates? Phone number is 1-800-460-9345. They left a message at my aunt's house; claimed they were attorneys and were trying to contact me. I only tried to reach them to get the name of the company. Any help would be appreciated. Should I call them back and see what they want or just ignore it until I get a letter. Thanks

I have managed to get one of my MCM accounts deleted from Experian. I'm still waiting to hear back from Equifax. TransUnion however said that MCM validated the account and it was updated on my credit history to read Open Account. My question is, the oc is due to remove the account from my credit history in August 05. This has been on for 7 years since it first went into collections, which means its at least 3 years past SOL (in TX). When I disputed this in a letter to TU, I pointed this out. And yet, they still validated with MCM. Is there a letter you can send to the CRA's demanding to see the so called "validated" proof that CA's claim they have?

ncacc1 Congrats! I'm attempting to do the exact same thing with Midland. They claim they owe 2 accounts I had with household bank. I got one of them deleted off experian. Still waiting to hear on equifax. TU is giving me a hell of time with them. They keep claiming that MCM "verified" ownership of the account. I'm about to send the SOL letter out myself. Both accounts with HH are due to drop off my credit report late this year and early next year (and this, according to the previous TU report I received!!). So that makes both accounts at least 3 years past SOL. Hopefully, I'll get lucky. MCM hasn't contacted me since I sent a C&D letter and validation requests.

I have 2 accounts with Household Bank that, according to my current TransUnion report, are due to drop off my history at the end of this year and early next year. So both are basically 7 years past when the accounts were closed by Household Bank. I did owe them on the accounts ($500 and $1,000 respectively). During the course of the past 5 years, MCM got a hold of the accounts and is now claiming ownership. Using Whychat's site, I sent out cease and decist and validation letters to MCM for both accounts in October 04 and Feb 05. I have not heard one peep out of MCM, nor have I received any type of validation from them. At the end of April, I sent in dispute letters to the 3 credit bureaus disputing MCM's claims, along with copies of all my correspondence to MCM. TransUnion has responded back stating that they could not allow the dispute based on the information I sent them and they would contact MCM to validate. I've already disputed this twice already with TU and yet they are still believing MCM. Do I send a letter to TU telling them that MCM is attempting to claim ownership of the 2 Household bank accounts that are going to drop off my history within the next 12 months and that MCM CAN'T collect because both accounts are at least 3 years past SOL (state of TX)? (This is assuming Household bank closed the account after it was in collections for 120 days). Or is there another letter I can send them? thanks to anyone who can offer help.

I just managed to successfully get 3 items removed from my TU credit report and received an updated copy of my credit report from them. It includes on this version, under each item listed, a date on when it is due to be dropped off my credit history. I have a 2 fold question here: 1. Are those dates going to be the same for all 3 CRA's, or at the very least, within a month or two of the TU date? 2. If I have 2 OC (HH Bank) accounts that are going to drop off 11/05 and 3/06, is it safe to assume that they are past the SOL (for TX-4 yrs) and I can attempt to get the CA (MCM for both) to validate and/or remove their listing? I've already sent MCM validation letters for each of the accounts in 11/04. They've ceased collection activity and have had no new inquiries into my account since that time as well. I have heard nothing from them in regards to my validation letters. However, they continue to report on my history. Do I send them another one, wait for a response within 30 days and then contact the CRA myself stating they are reporting unvalidated information?