Help in Texas...Citi Auto Account to Santander now Main Street

[Buyahouse]

I had an account with Citi Auto some years ago that was apparently charged off and sold to Santander.

 

I live in Texas and utilized the debt validation under the Texas Finance Code with Santander, they could not provide validation and the account was removed. They have since sold it to Main Street Acquisition who is now reporting. Santander was not to sell the account but obviously did. I have all the original documents to Santander, the removals from the credit bureaus and the green cards from the post office.

 

How do I proceed from here? Do I take this up with Santander for selling the account? Also, they have since provided the original validation documentation from Citi after about 90 days. Do I go after Main Street since they are reporting and claiming to have purchased the account directly from Citi and NOT Santander (which is why all credit disputes come back verified when we dispute). I would also assume (but can't be sure) that Santander provided the validation information to Main Street when they sold the account to them so I'm not sure if I should take the validation approach with them as well. Or do I contact the credit bureaus for being to lazy (of stupid) to realize that this is the SAME account that has already been removed especially since it has the SAME account number as the Santander.

 

Any advise would be greatly appreciated. I'm at a loss as to how to proceed concerning this account.

 

THANKS!

[Sandscrit]

Why can't Santander sell the account to a junk debt buyer? Main Street Acquisitions is the successor of the alleged debt unless you prove otherwise. Santander is out of the picture; moreover, Mainstreet Acquisitions has verified the debt unless you have errors in their reporting.

[western]

It may be possible that Citi never sold the debt, but referred it to a CA('s), yet still owns the debt. Amex does this.

[Clydesmom]

It may be possible that Citi never sold the debt, but referred it to a CA('s), yet still owns the debt. Amex does this.

 

Not on this one. Santander bought a LOT of consumer loans for autos in the past 5 years. My perfect loan with another company was sold to them and they delayed processing payments then reported me as late! Furious at their terrible business practices and poor customer service I paid the loan off early just to be rid of them. There are several class action firms suing them that are canvassing for clients.

 

 

I had an account with Citi Auto some years ago that was apparently charged off and sold to Santander.

 

I live in Texas and utilized the debt validation under the Texas Finance Code with Santander, they could not provide validation and the account was removed. They have since sold it to Main Street Acquisition who is now reporting. Santander was not to sell the account but obviously did. I have all the original documents to Santander, the removals from the credit bureaus and the green cards from the post office.

 

Unless you reached an settlement as part of a court case I am not certain they can be held to agreeing not to sell the account. They typically sell blocks of uncollected/uncollectable debt in one portfolio. This is why debt buyers have a statement from the seller stating that there is no warranty on collectability of the account and that verifying this before pursuing an account is recommended.

 

I would DV Main Street and start the process over.

[mendelssohn]

Santander is not a CA, although they may act like one at times. Santander bought a lot of Citi loans and therefore became the owner of your loan. If they charged it off, wouldn't there be a repo for your car?

[Buyahouse]

Why can't Santander sell the account to a junk debt buyer? Main Street Acquisitions is the successor of the alleged debt unless you prove otherwise. Santander is out of the picture; moreover, Mainstreet Acquisitions has verified the debt unless you have errors in their reporting.

I live in Texas and went through the DV process I discovered on the creditboard. In TX DV if the CA cannot validate a debt, it is to be removed and they cannot sell or report again (at least that this what I was finding in my research). Since Santander could not validate in over 60 days, they removed the account from my credit report, but sold the account to Main Street. The account is still reporting with the exact same account number. I have disputed the account with the collection agencies and they always come back verified because Main Street denies buying the account from Santander and claims to have purchased it from Citi. After contacting them forever, I spoke with a manager from Equifax who said if I could prove that it came from Santander that it could be removed. I sent Main Street a brief fax asking for this information and received it in writing from someone who I'm sure was not suppose to provide it to me. Once I got this info, Equifax removed it, but I am not having any luck with Transunion and Experian.

 

Now, my new questions is, am I incorrect in regards to my thinking concerning DV is TX and a collection agency's right to sell once DV can not be verified?

[Buyahouse]

It may be possible that Citi never sold the debt, but referred it to a CA('s), yet still owns the debt. Amex does this.

 

I contacted Citi and they do not still own the debt.

[Buyahouse]

 

It may be possible that Citi never sold the debt, but referred it to a CA('s), yet still owns the debt. Amex does this.

 

Not on this one. Santander bought a LOT of consumer loans for autos in the past 5 years. My perfect loan with another company was sold to them and they delayed processing payments then reported me as late! Furious at their terrible business practices and poor customer service I paid the loan off early just to be rid of them. There are several class action firms suing them that are canvassing for clients.

 

 

> I had an account with Citi Auto some years ago that was apparently charged off and sold to Santander.

 

I live in Texas and utilized the debt validation under the Texas Finance Code with Santander, they could not provide validation and the account was removed. They have since sold it to Main Street Acquisition who is now reporting. Santander was not to sell the account but obviously did. I have all the original documents to Santander, the removals from the credit bureaus and the green cards from the post office.

 

Unless you reached an settlement as part of a court case I am not certain they can be held to agreeing not to sell the account. They typically sell blocks of uncollected/uncollectable debt in one portfolio. This is why debt buyers have a statement from the seller stating that there is no warranty on collectability of the account and that verifying this before pursuing an account is recommended.

 

I would DV Main Street and start the process over.

 

I was thinking this, but assumed that Santander would have provided any information they received from Citi to Main Street. I guess I give the CAs to much credit. Thanks!

[mendelssohn]

/>

 

Why can't Santander sell the account to a junk debt buyer? Main Street Acquisitions is the successor of the alleged debt unless you prove otherwise. Santander is out of the picture; moreover, Mainstreet Acquisitions has verified the debt unless you have errors in their reporting.

I live in Texas and went through the DV process I discovered on the creditboard. In TX DV if the CA cannot validate a debt, it is to be removed and they cannot sell or report again (at least that this what I was finding in my research). Since Santander could not validate in over 60 days, they removed the account from my credit report, but sold the account to Main Street. The account is still reporting with the exact same account number. I have disputed the account with the collection agencies and they always come back verified because Main Street denies buying the account from Santander and claims to have purchased it from Citi. After contacting them forever, I spoke with a manager from Equifax who said if I could prove that it came from Santander that it could be removed. I sent Main Street a brief fax asking for this information and received it in writing from someone who I'm sure was not suppose to provide it to me. Once I got this info, Equifax removed it, but I am not having any luck with Transunion and Experian.

 

Now, my new questions is, am I incorrect in regards to my thinking concerning DV is TX and a collection agency's right to sell once DV can not be verified?

Santander is not a CA, and they do not have to respond to a DV.