CDG

Not concerned with getting into any trouble. But I am not able to pay the balance in full. I would gladly continue making the payments but suspect they will want it all at once. I have credit established in my name. The only issue is this account that we both used for convenience.

It's not a physical card but an online account. I'm not an AU but it's an account that he'd had for years that we both used as needed...so definitely with his permission. That screen has come up at least once a year since the account was opened. My concern is not being able to make the payments online. I have no problem with the credit line being rescinded. But I believe if I call them, they will tell me the balance needs to be paid in full which I am unable to do at this time. I have no problem continuing to pay over time.

It's been six years...

My apologies if there is a more specific place for this question. My late husband & I had an account that we both used but only his name is on. I have used it a few times since he passed and make the payment every month. I was deleting emails and there was one from this company, and I realized that the statement printed yesterday so I logged in to look at the new balance, interest, et. What popped up is something that comes up occasionally, asking for income & rent/mortgage amounts. I am sure I have hit cancel in the past and did so this time. Now when I log in I get the message that says I cannot make payments or changes to this account and to call an 800 #. The balance is still there but the available credit is zero. I logged out and back in again. The same screen comes up asking for that info. I type in some numbers and log in. Same message about no payments or changes. Anyone have any experience with this from ANY creditors?

I do understand that but if they paid $50 (just using that as an example) and they collect $100......they have made 100% profit. Are there any regulations as to how much interest they can charge or what fees they can add to an account? Different question.........Does the JDB have to be licensed in your state to sue and if yes, how do I find out whether or not they are licensed?

Thank you......that helps a lot. The statement about market value leads me to another question.........I know that a JDB would never reveal how much they've paid for an account but it seems to be common knowledge that it's pennies on the dollar. If they have paid, say $50 for an account, is it legal for them to try to collect the full amount and then add hundreds or even thousands to that account?

I have done a lot of reading but am still not clear on something..... Once an OC has charged off/closed/written off an account, then sells it to a JDB............can the JDB sue to collect? What obligation does someone have to a JDB since there were never any goods or services supplied by them? Please explain in layman's terms......I'm still learning. Thanks!

I just recently got a WaMu card but it is not showing any of my accounts. I just get a message that says something like "sorry, we cannot diplay your information at this time". Do you have to actually charge something before you can view your information? It's been activated but I have not charged anything.

I have but am still a little fuzzy.......maybe collection agency is not right term. On TU and Experian they are showing the account as Transfered/Closed or Charged Off with a zero balance. Only one of the two show CCB anywhere on there and that is as an inquiry. Does that make them a JDB?

Background info: In 2003 I thought I was co-signing for a van for my mother (I know...but it was my mother). She called while I was at work and they needed my signature....I could not leave right then and told her to sign my name unless the salesman said she could not. It turns out that I did not co-sign on the loan.....the loan was in my name only. I don't know to this day if my mother was aware of this at the time. Fast foward to June 2007. My mother calls me at work to say that the van had been repossessed. I knew she had made several late payments on the loan but did not know how late. Neither of us have heard a word since.....nothing, not a phone call, nothing by mail, nothing about intent to sell, etc. The only way I knew the van had been sold is because the balance on one of my credit reports dropped by about $3400.00 about two months later. ~~~~~~~~~~~~~~~~~~~~~~~~~ About a week ago I get home from work and there is a message that says this is CCB about a debt. At first I thought it was CCB bank and was concerned that maybe someone had opened an account in my name but I searched online by the telephone number and found out that CCB was a collection agency. I just received a phone call at work from someone from CCB asking me about setting up payments to clear up this debt. I told her to send me something by mail. She said they did, on June 5th. I said I would take a look at it and decide what to do next. She said I did not have a lot of time......only 90 days before "something legal happens". This is where I need help......I have read some of the validation letters but my situation is a little different in that they sent the information to my mother's address. So this collection agency does not appear to have my address on file but they do have my home and work phone numbers. Do I just send the validation letter and use my mother's address for a return address or do I just ignore it and say that I have not received any letters if she calls again? I do know that in NC that even if they were to get a judgement against me, they cannot garnish my wages for a debt such as this. Sorry it is so long but any advice will be appreciated. (One more thing.....I could say that I never signed any loan papers (and the van was not picked up from my address) which is the truth but I don't want to get my mother into any trouble......although she is not on any of the paperwork, all of the payments came from her to them by check or money order, which the original creditor would surely have copies of).

Applied for a Discover Motiva online. Not looking for any rewards......just looking for a BT. The offer was 3.9% until 2012. Approved but with amended terms.......BT only until Feb '09......not sure at what %. Just says: "Congratulations! You have been approved for Discover Motiva Card. Your card will be mailed to you shortly to the address provided on your application." Is this a sign of a low CL?

I realize that this is a FAKO score but I signed up with them in May after someone here posted a free code. I check once a week and balances are all correct. The only problem is the credit score. It has not changed once!!! I received an alert regarding a delinquent acct.....score still did not change!! Has this happened to anyone else?

No advice for you......I'm still waiting to hear on repo from 06/21/07 (tues will be 2 months). I co-signed for my my mother......but she has not received anything either. Nothing by mail.....no phone calls.......nothing about intent to sell, auction date.........absolutely NOTHING!!! It's hit my credit report first as a repossession......now it says Collection/Chargeoff on both Equifax and TU (thru TC). Does anyone know how common it would be for the OC to keep the vehicle and not sell? (don't mean to highjack, but several people here seem very knowledgable)

I have to agree with lostnjax and I speak from experience. I co-signed for my mother. I know she absolutely had no intention of letting the van get repossessed.......but it did and she's apologized several times but the damage is done to my credit. And my car is a 2000. I'm praying it'll last me another year or two but it may not. So I already now that whenever I get my next car my interest rate is going to be high, because even tho I'll use my husband's credit, his is not the best either. He doesn't have any major bad marks (bk, repossession, collections, etc) but he does have high util and a late payment or two. I'm glad it worked out with your younger sister, but sometimes things happen that we have no control over......job loss, illness, etc. You just want to think long and hard before you make that kind of commitment.

I posted a couple of days ago because my mother's van (that I co-signed) was repossessed. It first reported on my credit report as a repossession on 07/07/07. I check TrueCredit once a week. On 7/16, 7/23, & 7/30, it reported as a repossession. Today when I checked it says "Collection/Chargeoff" and we still have not heard anything on the sale of the van. Does it not report as a repossession the entire time it's on the report?