Hi:

I had a lot of financial difficulties a few years ago. I am just starting the process of pulling all of my reports and trying to clear everything up. I have 2 collection accounts for old bank accounts that were closed with negative balances:

1) WAMU: $278 - it was just sold to JDB (Rjm Acq Ltd). It was assigned to them last Sept. The account was closed in early 2005.
2) Bellco Credit Union: $595. It was given to a local CA in mid-2005 (alpine credit). They still have the file i believe.

I also have a CA for a bounced check to King Soopers (kroger/grocery store)

I just ordered my ChexSystems report, so i am not sure which of these accounts is there. My guess after reading through these forums, is that WAMU is on my Chex report and Bellco probably isn't.

My question is this: what is the best way to go about resolving these?

Option A:
Contact Bellco/WAMU/Kings and settle with them first (either pfd or payment). Then once they are resolved, dispute them with the CA or CRA?

or

Option B:
since neither bank is reporting on my CR, should i just negotiate a pfd directly with the CAs.

Other questions:
1) If I pay the CA will ChexSystems recognize that as a paid account?
2) If i pay the OC then dispute with the CA, can they validate or does my settlement force them to delete the record.

At this point, I am more concerned with getting my CR cleared of these collections. I am not that worried about Chex, although i probably should be. I am in no particular hurry, so i would like to do whatever is most effective/efficient.

Thanks!

The RJM one can be PFD'd, they will remove from all your reports EXCEPT ChexSystems.
You will have to contact WAMU to make sure you get them to remove it once it is paid.
You may be able to communicate with RJM to have them notify WAMU to remove it.
I didn't know mine was in CS until after my PFD so I've been having trouble getting it
removed. I sent off a dispute letter to CS on Fri.

It is awfully suspicious that they can buy this NSF debt, yet not report to CS, huh?
I wish I had the address to the legal counsel...

Thanks for the reply.



It is suspicious. I guess that was my question. If i were to DV them, would they be able to verify or are they like the JDB - with no real access to records.

I think i will wait until i receive my Chex report and decide from there.

Does anybody else know if it is possible to challenge these kind of CAs?

Thanks!

Let me see, Wachovia sent it first to Plaza Associates and I FULL C&D'd them, then they turned it over to their affiliate RJM. I'd had enough so I paid it with a PFD and didn't find out about the Chex until after the PFD otherwise I would have included it in the PFD.

I'd suggest calling RJM and asking them if they can have WAMU remove the entry for you.

The Apline Credit one is similar to one I had with a local CA here called Merchants and Professionals Credit Bureau, they are both a CRA
AND CA, go figure...

I called them up and said that I had an account that was paid in full and politely asked them to remove the entry and they agreed.
Do a PFD with them and they will probably do it, too.