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Pinnacle Credit "Factoring" Account Suddenly Appears, 45 Points GONE!


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I'm new here & apologize in advance for any errors/Mis-Postings. I've also been perusing for a few days & now it is time I chime in.

First, I APPRECIATE all your hard work and information available on this site. I'm quite impressed & grateful that there are so many people willing to take the time to help others. THANK YOU ALL FOR THE GREAT JOB :) :)

Anyway, I've rebuilt myself up after my "7-10 year penalty" due to becoming disabled & after a house fire in 2007. Long story short, it took alot of hard work and A LOT MORE PATIENCE/TIME!!! After re-establishing to the point I am in the midper (mid & a tad North of the700's :) ), on 02/15/2014 I got an alert that a "New Collection Account has posted to my CR". About an hour later, I got another one from CK for the same thing. So I log in, I see I've LOST 45 points, and I immediately do a CR pull to find out more on this "Pinnacle" place. I've done alot of searching on this "Factoring Company" nonsense, as well as Pinnacle, as well as what letters to write but again, and PLEASE do not be irritated, however I just have NO idea how to even begin to tackle this. I've never seen it happen before and I have NO CLUE who the OC would even be (or who they bought this from if Pinnacle is the OC).

No letters, no nothing - just an IQ from 12/27/13 from Pinnacle, then it hit on 02/16. None of this makes sense & I am in a COMPLETE panic over what my creditors will do to me as a result of the score dropping due to, of all things, a BRAND NEW collection account that has been RE-AGED from the looks of things. I know that's an FCRA no-no, and I know the lack of ANY correspondence is also a no-no. This could not have come at a worse time as well as I'm in the midst of a mortgage process & when the lender catches wind of it, I GUARANTEE all deals will be off. Given the intensity of the situation, and before I send off my 3-page Validation to Pinnacle (based on § 807(11) - lack of required disclosure from a debt collector, § 807(8) communicating info which is known to be false, § 809 - standard stuff, and § 623 - reporting w/knowledge of errors et.al., and finally a § 623 dispute w/the CRA's. I am using that § 807(11) since even though there has been no "communication", they have now "communicated" via a third party, i.e. the CRA's,

Certainly I am no expert however I have had my fair share of all this too - and knowledge is power - but this whole "Factoring Company" nonsense has thrown me for a loop. Looking through these forums, they're a JDB/CA, but apparently utilizing the "Factoring" aspect allows em' to report a WHOLE lot more - to which they are - as a revolving account impacting my AAOA, Util, and history. I'm at a total loss and again, I apologize for all this as I admit I'm STUCK!!!

The TL appears as follows:

PINNACLE CREDIT SERVICES L
PO Box 640
Hopkins, MN 55343-0640
(952) 939-8100
Account Number: OK05XXXX Current Status: At least 120 Days or More Than Four Payments Past Due
Account Owner: Individual Account. High Credit: $1,253
Type of Account : Revolving Credit Limit: N/A
Terms Duration: Terms Frequency: Monthly
Date Opened: 12/20/2013 Balance: $1,253
Date Reported: 02/15/2014 Amount Past Due: $1,253
Date of Last Payment: Actual Payment Amount: $0
Scheduled Payment Amount: $0 Date of Last Activity: N/A
Date Major Delinquency First Reported: 02/2014 Months Reviewed: 3
Creditor Classification: Factoring Company Activity Description: N/A
Charge Off Amount: $0 Deferred Payment Start Date:
Balloon Payment Amount: $0 Balloon Payment Date:
Date Closed: Type of Loan: yes
Date of First Delinquency: 12/2013
Comments: Collection account
81-Month Payment History
No 81-Month Payment Data available for display.
I really appreciate it in advance, I honestly do not know what else to say/do at this point, but I want to utilize the rest of the weekend to attack this come Monday morning.
Thanks again everyone & I hate to even ask for help but I've tried & tried only to start getting more confused. Take care :):)

 

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I assume you already pre-apped for the mortgage?

 

that's why this showed up. they know you're going to have to deal with it in order to close.

 

you always want to do a pre-app 6 months before you actually want to get the mortgage to get these gutter dwellers to show up so you can handle them.

 

I would bet you'll hear something from them soon as they want to get paid.

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Junk Debt Buyers often use the term 'Factoring Company" on credit reports and it is, unfortunately, perfectly legal.The problem is the account has not passed the state SOL. Doing any kind of disputing may cause Pinnacle to file a lawsuit. Either wait out the state SOL or try to get a discounted settlement in writing only. Debt buyers pay only a few cents on the dollar for old debts so there is room to haggle. I would say offer 10-15% for starters.

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Do a lot of research on the " factoring " stuff. Read up on all you need to know about LVNV Funding for starters.

 

** Current Status: At least 120 Days or More Than Four Payments Past Due / Terms Frequency: Monthly ** Have you ever had an agreement with these dead beats to pay them on a monthly term?

 

**** Type of Loan: yes *** REALLY?

 

What state are you in and do you remember the DOFD?

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It's bogus on it's face since it is self contradictory.

 

This:

Current Status: At least 120 Days or More Than Four Payments Past Due

 

And this:

Date of First Delinquency: 12/2013

 

Even if it was delinquent on Dec 1, 2013, the earliest possible date, there is no way it could be 120 days late as of now. You have to love it when a JDB shoots themselves in the foot like that. OTOH, you have to truly hate them for the collateral damage to the innocent.

 

BTW, for other readers DOFD stands for Date Of First Delinquency not Default. I often see this misstated and probably have done so myself but it is an important distinction.

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It seems OP is saying that the dates are wrong and that this would be from 2007? If that is the case, OP is probably out of SOlL.

 

Am I reading wrong?

You are correct that if anything, this account (whomever the OC is), is WELL beyond SOL. I cannot even confirm nor figure out who it is either.

 

Thanks Freedom - you're not reading wrong at all....

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Do a lot of research on the " factoring " stuff. Read up on all you need to know about LVNV Funding for starters. It's confused the heck outta me! About all I'm finding a consensus on is they buy NON-DELINQUENT debt to get cash-flow for a business & do not buy "bad debt". Yet, upon further reading, it shows they are "Debt Buyers". That makes no sense either! However, after looking at the State's licensing, there is not ONE SINGLE PINNACLE entity in the State of Indiana licensed to do business here as a CA. I've gone through my call logs, spam-call-logs, etc. and there are NO odd 800 #'s nor other numbers I do not recognize.

 

** Current Status: At least 120 Days or More Than Four Payments Past Due / Terms Frequency: Monthly ** Have you ever had an agreement with these dead beats to pay them on a monthly term? Never had an account with them, have NO clue who they are/who the OC is either since I can't get an answer out of these salamanders. Also, never received ANY letter demanding some sort of payment.

 

**** Type of Loan: yes *** REALLY? Yep - that is ALL it says right there in that spot.

 

What state are you in and do you remember the DOFD? Indiana, SOL is 6 years, DOFD would be somewhere in early-mid 2005 if not earlier yet, as you see, it is showing 12/2013.. Despite the disputes through CRA's, they've verified but cannot "verify" with me since I (get ready) "cannot find an account with [you] since you do not have the full account number". Asked for a letter or ANYTHING to provide such, said she cannot send me anything if "she cannot find me".....

I've replied within your quote to help it make sense:

 

Thanks Texan :)

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Junk Debt Buyers often use the term 'Factoring Company" on credit reports and it is, unfortunately, perfectly legal.The problem is the account has not passed the state SOL. Doing any kind of disputing may cause Pinnacle to file a lawsuit. Either wait out the state SOL or try to get a discounted settlement in writing only. Debt buyers pay only a few cents on the dollar for old debts so there is room to haggle. I would say offer 10-15% for starters.

I do not mean to disagree whatsoever, but I KNOW for a fact that whatever this account is, it is WELL beyond the SOL for IN (6 years). The more important thing is I need to get it off the CR's ASAP due to the score plummet, the fact the mortgage co has already rescinded the pre-app, and the LO has, herself, attempted to contact these folks in order to ascertain who/what/why this is on here. I'm doing a cash-out refi instead of a HELOC due to the rates, might as well take advantage of it, and now something from NO further than 2005 (SOL ran in 2011) has literally "come out of the woodwork". How in the HECK did they even "find" me?

 

Why would I WANT to settle it if this is beyond both the CRTP & SOL dates? I suppose I will not object if that is what it takes to make em go away & DELETE THE TL COMPLETELY - and then go after them AFTER the fact for the vio's. if it doesn't work that way, I understand - I just MUST get this deleted off the CR's ASAP & the avenue to do this, along with the window of opportunity, is more important than anything. I'll do a PFD to get rid of em as well - but if doing such "voids" my rights to recover after-the-fact (i.e. I paid it in good faith, not knowing any better, only to find they never had a right to the $$ in the first place). Whichever way I can get it deleted is the way it must be. LO stated that even paying it will NOT help the scores as the damage is done; only way I'll be able to move forward is resolving it & the scores back up to where they were. Otherwise, I cannot do a Conventional & will be forced into an FHA and/or higher interest, etc. etc.

 

I should also say, since I apparently omitted this, that they did HP's on 12/27/2013 - MORE than enough time to get me a letter or "something". On the CR's, the address & phone is accurate & has been accurate since 2008 (post house fire). If I look at my SP's, there are a SLEW of other names that if I google, are also CA's/ATTY's/etc. and appear to be on a fishing expedition.

 

Besides the mortgage refi, the score plummet further puts me at risk of having CLD's, closures, etc. on my otherwise re-established & not ONE dinged CR's. I used that phrase of "paid my 7 year dues" as I truly did - and with the AAOA aspect, all my good "old stuff" from back in the day combining with the 3+years of "new good", the scores across the board were at LEAST mid-700's.

 

Scores, prior to this nonsense: January 2014: EX 779 (Lender); TU 762 (Lender); EQ 773 (Lender)

Scores, Post-this nonsense: Feb 19, 2014: EX: 722 (Lender); TU 684 (Lender); EQ: 725 (Lender)

(I guess I was wrong about just how much it nose-dived now that I looked at her email on the current scores. Plus, the score-drops were not direct/lender pulls either).

 

That being said, and given it is out of SOL, and given I cannot get the dang thing removed via "traditional" disputes, should I pull out the big guns?

 

Last item: In my dispute letters I'm about 3/4 done with, I'm citing several of the FDCPA statutes (I won't re-post as to not confuse) that me finding/seeing this on the CR's is and of itself an "Initial Communication" & they've failed to comply with the requirements of the dunning letter (not sending it at all to allow me the 30 day window of "dispute" timeframe). I may be wrong, generally I am, but if THEY can bend the law, doesn't hurt for me to as well. With the CRA disputes, they came back VERY quick with "verified" (2-days - no joke) so I've definitely got the proof to show it's well beyond the SOL and well beyond the CRTP dates. That's the "re-aging" aspect correct?

 

It is just paramount I get this removed ASAP or I'm screwed. I am also 100% exempt income, permanently disabled, SSDI only, & the # of & amount of modifications to my house is needed ASAP or I won't be able to get in/out/around the place. As much as I would LOVE to go after them on the VIO's, particularly for having no interest other than destroying my credit, first things first is to get them GONE or I cannot close. Then i will be more than happy to haul them into court as I did with Portfolio Recovery (4 account, judgment in my favor, something about incorrect affidavits & no bills to support, etc.).

Thank you again for your time on this - and I REALLY do apologize for bothering with this. Never in a million years would I think I would be dealing with this again but alas, HERE WE ARE!! The fact they are NOT reporting the OC either along with the other bogus info has lit a huge fire under my crippled-behind! If you need anything else, just let me know.

 

Thank you VERY much again!!

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It's bogus on it's face since it is self contradictory.

 

This:

Current Status: At least 120 Days or More Than Four Payments Past Due

 

And this:

Date of First Delinquency: 12/2013 AGREED! That was my first indication as if anything, max could/would be 60 days.

 

Even if it was delinquent on Dec 1, 2013, the earliest possible date, there is no way it could be 120 days late as of now. You have to love it when a JDB shoots themselves in the foot like that. OTOH, you have to truly hate them for the collateral damage to the innocent. And that is exactly what has happened here, just as with so many others. They think we're salamanders, and those who DO know their rights & try to fight em, it's a 50/50 of what will happen next. Since it is WAY out of SOL, I'm not worried plus I'm 100% exempt income (SSDI - permanently disabled), and if they end up serving me, GO FOR IT - whatever it may be that they're wanting $$ for or to whom (the OC), I'm not only "judgment proof" but the better & firm Affirmative Defense of outside the SOL by 3+ years at least.

 

BTW, for other readers DOFD stands for Date Of First Delinquency not Default. I often see this misstated and probably have done so myself but it is an important distinction. I apologize if I used this incorrectly - I was utilizing this for Delinquency, not default. My apologies again - I'm so "out there" over this that I'm losing sleep & can't even think straight!!

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Not only do I want to SINCERELY THANK YOU ALL FOR RESPONDING, I want to correct myself on the DOFD's on all this stuff.

 

While I mentioned becoming disabled and/or my house burning to ashes, the DOFD's on ANY account will not be past mid-2005. This SHOULD have read as "....AFTER BECOMING DISABLED AND A HOUSE FIRE IN 2007"...

 

I cannot figure out how to edit my Original in order to make the corrections.

 

Furthermore, I've pulled my old CR's from 2008, 2009, 2010 - Present in an attempt to ascertain who/what this could possibly be. Back when i was in the rebuilding phase, I had a TON of debt and went from making 6 figures to my wonderful fixed-income of Social Security Disability. My debts were ALL well above $5K minimum including the deficiency on the house when it burned. I was insured, but under-insured, and I sued the Insurance Co. for failure to provide the proper amount of coverage requested. Since there was undisputed evidence about this, court found in my favor & the deficiency was removed.

 

After that, one-by-one, I attacked the CA's and old accounts. Some I PIF'd to delete, some I settled, some I said screw it, I did all the negotiating/paying/settling AFTER I ascertained DOFD's/SOL's & got those deleted or they auto-purged via CRTP.

 

When one is in a hospital bed for 2 years almost, the last thing I gave a hoot about was this stuff. I had no house, I had no belongings, and my life prior to 2007 was GONE in 30 minutes when the thing burned to the ground. MANY of the creditors actually were receptive & helped - I will not say they were all a pain, but I also dealt with the OC's as much as possible. Those who wouldn't budge, I pushed the system to work for me as we all have. I did the right things, I negotiated/settled/paid as I could, and FINALLY got where I am today (well, as of 12 Feb 2014 when I last checked the scores).

 

Looking through ALL the CR's and documents all night long, there is not ONE account that is around this amount stated above. Yet, it's coming back "verified". I just don't understand HOW they can come back this quick as "verified" (EQ/EX) but TU is still pending. LITERALLY ONE DAY (I'll post the email and post the "verified" answer to prove I'm not just saying this!). Obviously, they're not doing their jobs at the CRA's & this is why I am also asking about the DD's and/or Validation aspects. If someone lets me know how, I will show anything needed to help you out in order to help me out.

 

Some way, some how, I WILL find a way to re-pay you all for those that have helped me!!!! :) I'm just in a frenzy, justifiably so, & I cannot stop thinking about this nor stop worrying/stressing. Anyone would be under the circumstances. The MAIN thing is I already have contractors lined up, I already have the permits, the list goes on as to why I need to get this resolved ASAP. Otherwise, no funds = no modifications for my crippled-wheelchair-bound behind to get ANYWHERE.

 

I just cannot believe there are laws to prevent this stuff yet somehow they circumvent it ALL THE TIME & walk away scott free.... I'm honestly tempted to PFD it - just to get it done - but then that means a CC will have VERY high util which, of course, is also going to hurt.. It won't hurt as bad as a RECENT collection/default, but that bad-boy can be paid down once I close - IF I CLOSE that is. Sighhhhhhhhh.............

Sorry again everyone - just panicked, flipping out, and ready to dig a hole & live in the ground

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Junk Debt Buyers often use the term 'Factoring Company" on credit reports and it is, unfortunately, perfectly legal.The problem is the account has not passed the state SOL. Doing any kind of disputing may cause Pinnacle to file a lawsuit. Either wait out the state SOL or try to get a discounted settlement in writing only. Debt buyers pay only a few cents on the dollar for old debts so there is room to haggle. I would say offer 10-15% for starters.

I do not mean to disagree whatsoever, but I KNOW for a fact that whatever this account is, it is WELL beyond the SOL for IN (6 years). The more important thing is I need to get it off the CR's ASAP due to the score plummet, the fact the mortgage co has already rescinded the pre-app, and the LO has, herself, attempted to contact these folks in order to ascertain who/what/why this is on here. I'm doing a cash-out refi instead of a HELOC due to the rates, might as well take advantage of it, and now something from NO further than 2005 (SOL ran in 2011) has literally "come out of the woodwork". How in the HECK did they even "find" me?

 

Why would I WANT to settle it if this is beyond both the CRTP & SOL dates? I suppose I will not object if that is what it takes to make em go away & DELETE THE TL COMPLETELY - and then go after them AFTER the fact for the vio's. if it doesn't work that way, I understand - I just MUST get this deleted off the CR's ASAP & the avenue to do this, along with the window of opportunity, is more important than anything. I'll do a PFD to get rid of em as well - but if doing such "voids" my rights to recover after-the-fact (i.e. I paid it in good faith, not knowing any better, only to find they never had a right to the $$ in the first place). Whichever way I can get it deleted is the way it must be. LO stated that even paying it will NOT help the scores as the damage is done; only way I'll be able to move forward is resolving it & the scores back up to where they were. Otherwise, I cannot do a Conventional & will be forced into an FHA and/or higher interest, etc. etc.

 

I should also say, since I apparently omitted this, that they did HP's on 12/27/2013 - MORE than enough time to get me a letter or "something". On the CR's, the address & phone is accurate & has been accurate since 2008 (post house fire). If I look at my SP's, there are a SLEW of other names that if I google, are also CA's/ATTY's/etc. and appear to be on a fishing expedition.

 

Besides the mortgage refi, the score plummet further puts me at risk of having CLD's, closures, etc. on my otherwise re-established & not ONE dinged CR's. I used that phrase of "paid my 7 year dues" as I truly did - and with the AAOA aspect, all my good "old stuff" from back in the day combining with the 3+years of "new good", the scores across the board were at LEAST mid-700's.

 

Scores, prior to this nonsense: January 2014: EX 779 (Lender); TU 762 (Lender); EQ 773 (Lender)

Scores, Post-this nonsense: Feb 19, 2014: EX: 722 (Lender); TU 684 (Lender); EQ: 725 (Lender)

(I guess I was wrong about just how much it nose-dived now that I looked at her email on the current scores. Plus, the score-drops were not direct/lender pulls either).

 

That being said, and given it is out of SOL, and given I cannot get the dang thing removed via "traditional" disputes, should I pull out the big guns?

 

Last item: In my dispute letters I'm about 3/4 done with, I'm citing several of the FDCPA statutes (I won't re-post as to not confuse) that me finding/seeing this on the CR's is and of itself an "Initial Communication" & they've failed to comply with the requirements of the dunning letter (not sending it at all to allow me the 30 day window of "dispute" timeframe). I may be wrong, generally I am, but if THEY can bend the law, doesn't hurt for me to as well. With the CRA disputes, they came back VERY quick with "verified" (2-days - no joke) so I've definitely got the proof to show it's well beyond the SOL and well beyond the CRTP dates. That's the "re-aging" aspect correct?

 

It is just paramount I get this removed ASAP or I'm screwed. I am also 100% exempt income, permanently disabled, SSDI only, & the # of & amount of modifications to my house is needed ASAP or I won't be able to get in/out/around the place. As much as I would LOVE to go after them on the VIO's, particularly for having no interest other than destroying my credit, first things first is to get them GONE or I cannot close. Then i will be more than happy to haul them into court as I did with Portfolio Recovery (4 account, judgment in my favor, something about incorrect affidavits & no bills to support, etc.).

Thank you again for your time on this - and I REALLY do apologize for bothering with this. Never in a million years would I think I would be dealing with this again but alas, HERE WE ARE!! The fact they are NOT reporting the OC either along with the other bogus info has lit a huge fire under my crippled-behind! If you need anything else, just let me know.

 

Thank you VERY much again!!

 

 

 

You don't want to settle. Start by sending Pinnacle a DV, CMRRR. Do not sign the letter. Do not give them your SSN. With any luck, they'll end up paying YOU before this is all over.

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Not only do I want to SINCERELY THANK YOU ALL FOR RESPONDING, I want to correct myself on the DOFD's on all this stuff.

 

While I mentioned becoming disabled and/or my house burning to ashes, the DOFD's on ANY account will not be past mid-2005. This SHOULD have read as "....AFTER BECOMING DISABLED AND A HOUSE FIRE IN 2007"...

 

I cannot figure out how to edit my Original in order to make the corrections.

 

Furthermore, I've pulled my old CR's from 2008, 2009, 2010 - Present in an attempt to ascertain who/what this could possibly be. Back when i was in the rebuilding phase, I had a TON of debt and went from making 6 figures to my wonderful fixed-income of Social Security Disability. My debts were ALL well above $5K minimum including the deficiency on the house when it burned. I was insured, but under-insured, and I sued the Insurance Co. for failure to provide the proper amount of coverage requested. Since there was undisputed evidence about this, court found in my favor & the deficiency was removed.

 

After that, one-by-one, I attacked the CA's and old accounts. Some I PIF'd to delete, some I settled, some I said screw it, I did all the negotiating/paying/settling AFTER I ascertained DOFD's/SOL's & got those deleted or they auto-purged via CRTP.

 

When one is in a hospital bed for 2 years almost, the last thing I gave a hoot about was this stuff. I had no house, I had no belongings, and my life prior to 2007 was GONE in 30 minutes when the thing burned to the ground. MANY of the creditors actually were receptive & helped - I will not say they were all a pain, but I also dealt with the OC's as much as possible. Those who wouldn't budge, I pushed the system to work for me as we all have. I did the right things, I negotiated/settled/paid as I could, and FINALLY got where I am today (well, as of 12 Feb 2014 when I last checked the scores).

 

Looking through ALL the CR's and documents all night long, there is not ONE account that is around this amount stated above. Yet, it's coming back "verified". I just don't understand HOW they can come back this quick as "verified" (EQ/EX) but TU is still pending. LITERALLY ONE DAY (I'll post the email and post the "verified" answer to prove I'm not just saying this!). Obviously, they're not doing their jobs at the CRA's & this is why I am also asking about the DD's and/or Validation aspects. If someone lets me know how, I will show anything needed to help you out in order to help me out.

 

Some way, some how, I WILL find a way to re-pay you all for those that have helped me!!!! :) I'm just in a frenzy, justifiably so, & I cannot stop thinking about this nor stop worrying/stressing. Anyone would be under the circumstances. The MAIN thing is I already have contractors lined up, I already have the permits, the list goes on as to why I need to get this resolved ASAP. Otherwise, no funds = no modifications for my crippled-wheelchair-bound behind to get ANYWHERE.

 

I just cannot believe there are laws to prevent this stuff yet somehow they circumvent it ALL THE TIME & walk away scott free.... I'm honestly tempted to PFD it - just to get it done - but then that means a CC will have VERY high util which, of course, is also going to hurt.. It won't hurt as bad as a RECENT collection/default, but that bad-boy can be paid down once I close - IF I CLOSE that is. Sighhhhhhhhh.............

Sorry again everyone - just panicked, flipping out, and ready to dig a hole & live in the ground

 

 

Paying penalties are like paying parking tickets to these guys. Just a cost of doing business.

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You don't want to settle. Start by sending Pinnacle a DV, CMRRR. Do not sign the letter. Do not give them your SSN. With any luck, they'll end up paying YOU before this is all over.

 

And by doing this, from what I understand, will not result in the TL being deleted - which, unfortunately, is the root of the issue. I'm kinda in a Catch-22 here; if I DON'T get it removed, 1) I'll end up in breach of contract for the mods (cancellation penalty), lose the deposit, and who knows what else by not being able to continue closing on the loan. If I go the DV route, 2) it is going to stay on the CR's, I'll end up not getting the loan, and I'll end up in the same boat as in scenario #1. If I settle it, then I'll be paying an outside of SOL debt, JUST to get the thing removed, as the far more importance here is the loss of the Loan (and the $10K deposit already submitted), another lawsuit for cancelling (breach of contract) since it's all a custom-made deal for the house.

 

Good lorddddddddd...... There is literally NO way to get around this in the timeframe allotted.

 

How is it even allowable for a CA or whatever the heck this Pinnacle place is ("Factoring" or "Debt Collector" since the definitions are the same as far as FCRA or FDCPA is concerned) to haphazardly tack this nonsense on my reports NOW - not in December, not in January, but NOW AND WITHOUT a notice first, allowing me the 30-days under the FDCPA to dispute the validity of the debt before it is considered "valid"? I've read that excerpt about 30 times now - and unless my brain has gone moreso than it already has, they can't "do" anything (other than notify) until that 30-day window elapses.

 

Don't take this the wrong way I'm NOT, by any means, screaming at you - I'm justifiably BEYOND infuriated that my livelihood - literally my ability to live & retain my home - is being taken from me in ONE single TL??? I'm not playing the "crippled-card" either; I MUST have this done or I cannot live in my home & will be forced out since the mods are necessary for me to get around the house, in my wheelchair, & without assistance. I do not mean to downplay ANY other person's situations on how/why they got where they were either - but this is, without exaggeration, the difference between a roof over my head & no roof over my head. Something just isn't adding up AT ALL & getting the TL gone is the only option.

 

Maybe the better question/comment is "Retro-violations" (settling it & disputing it later as the damages, actual & consequential, are by FAR more than this BS so-called debt that's out of SOL & for all I know not even mine) as I had to do what I had to do in order to avoid FURTHER financial and literal damages.. Wow Wow Wow Wow WOW! This is unbelievable....

 

I'm sorry again - by your screename alone, you may have a "cousin" by the time all is said & done with these (can't say it I'm sure)... I apologize again for all of this/bothering you - but as you can tell, this WILL cost me my livelihood as described above!

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the other thing is most property contracts have a stipulation about them being contingent upon securing financing. so if the deal falls through for now because you're unable to secure financing because of this, you should be able to get your earnest money back.

 

also, if it does fall through because of this, you can sue the JDB, not only for the incorrect reporting, but also for the damages that it caused you.

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Wow!

 

This is a classic story about a fast and loose, if not downright criminal bill collector sticking a bogus-on-it's-face debt to an undeserving victim. Said victim has the consequences of this magnified because their disabilities required special contracts, the fulfillment of which the bill collector has impaired.

 

This is an attractive media story. If I were in your position I would:

 

1. Rather than the normal approach of avoiding contact with them I would actively solicit it. Read them the riot act. Tell them exactly what this is potentially going to do to your contracts. You will hold them accountable and it will cost them money. Do it verbally and state the claims in writing.

 

2. Further, that if they don't get a move on and quickly delete this bogus account you will go to the appropriate govt. agencies and elected officials and, with any luck, they could have their very own DVD recording where they got grilled before a congressional committee.

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the other thing is most property contracts have a stipulation about them being contingent upon securing financing. so if the deal falls through for now because you're unable to secure financing because of this, you should be able to get your earnest money back.

 

also, if it does fall through because of this, you can sue the JDB, not only for the incorrect reporting, but also for the damages that it caused you.

 

Most do. That was also going to be my response until I read the details that he had to contract to have special access mods to the house. You can elect to contract a sale that is not contingent on financing. I am in the process of selling a property where I required the buyer to remove that contingency. It appears that due to his circumstance he doesn't have the usual walkaway capability.

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the other thing is most property contracts have a stipulation about them being contingent upon securing financing. so if the deal falls through for now because you're unable to secure financing because of this, you should be able to get your earnest money back.

 

also, if it does fall through because of this, you can sue the JDB, not only for the incorrect reporting, but also for the damages that it caused you.

I don't know how to add on others (so they're all being replied to at once) so I'm going to "reply to all" at the end of this & just mention your names. Thanks again shifter.

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the other thing is most property contracts have a stipulation about them being contingent upon securing financing. so if the deal falls through for now because you're unable to secure financing because of this, you should be able to get your earnest money back.

 

also, if it does fall through because of this, you can sue the JDB, not only for the incorrect reporting, but also for the damages that it caused you.

 

Most do. That was also going to be my response until I read the details that he had to contract to have special access mods to the house. You can elect to contract a sale that is not contingent on financing. I am in the process of selling a property where I required the buyer to remove that contingency. It appears that due to his circumstance he doesn't have the usual walkaway capability.

 

Shifter, Cashnocredit -

 

You are both amazing in the responses & I will give you my contract's details & hopefully stay "in order"

 

Since I'm disabled, and cannot walk, the modifications are for just that reason - the ability to get around the house and so forth. With the $10K I have already put down, that was, as whomever stated, the "Earnest Money" that I paid was directly to the contractors to get the job started (materials, building of the mods, permitting, etc.). The remaining portion of the contract, since it is not financed through THEM, is not contingent upon financing & it clearly states that I will be liable for all costs incurred. Cancelling this contract, even though this is a "valid" dispute, is hurting me not only financially, but physically!!

 

This doesn't include the other $15K I've already shelled out of my IRA I cashed in to have them start the rough-in & for me to cover my OWN costs of the plans/blueprints/City Costs/Permits for the work I've done myself (more on that below). The house is basically gutted right now in certain areas, my driveway has been torn up, front steps are next, landscaping, grading - you might as well consider it a "Flip This House" type situation.

 

I also already have the house; I am not purchasing another house. I'm modifying my own house and the way I am funding it is via a cash-out refi on my equity. I don't even know if that is the right term or not as it was F&C prior to this so it's actually a "First Mortgage" for home improvement purposes. This isn't a HELOC either - it's a straight up tapping into my equity which, as a result of this, has unsealed the deal.

 

Not only am I not even 2 weeks away from getting this started, anything that is being built "off-site" and/or materials for the mods are WELL into play. They have further started to tear into the house already in preparation for the installations, i.e. my cabinets have been yanked off the walls, doors have been taken down, walls taken down, electrical, plumbing, etc. have ALL already been in the "Roughing in" phase. BTW: I was a Mechanical Engineer before I was disabled so what they are doing is stuff that I actually "drew up" most of the plans for (with the exception of some of the structural that was outside my scope of work). I have my licenses still so I was able to save ALOT of money on the architectural aspects & planning aspects by completing the plans, submitting the blueprints, etc. etc. myself. Least my 2 arms still work for now so I put that to good use & saved the $$ on ALOT of the planning/permitting/approval phases. This is basically the same as you gutting your house to remodel - the only difference is everything is "lower" and "wider". Couldn't wait for the stair-chair so I could get up/down the stairs going into the bedroom floor as well (I have a tri-level) as it "wrapped" around to the other set of stairs that have been yanked, along with walls/electrical/ceilings/you name it to make the stairs going to the lower "main" level accessible via the stair-chair. If you walked into this place, you'd look at it and think "WOW how could anyone live like that" as, again, all this is the "rough" phase so of course it is going to look torn to pieces.

 

There is NO fun at all in being crippled & wouldn't wish this on my worst enemy - especially those that are young(er) like myself (34 years old). I went from making 6 figures to now living on a fixed-income via Social Security Disability. Least that is EXEMPT from anyone taking it but that sure doesn't help a credit situation AT ALL.......

 

By cancelling this now, due to the financing "falling through" over this BS, there is NO stipulation whatsoever for any means of "backing out". I would have had to cancel back in December (prior to Xmas) to get out of the contract, get the $10K back, and not be sued by these folks for backing out at, literally, the last moment. So yeah - this is QUITE INTENSE.

 

That's why I've mentioned the whole "can I just pay it to get rid of them & recover from them later" aspect since, again, I'm DEFINITELY going to be in a world of hurt here not just financially, but I will have NO ability to even get around my own house! I was not wheel-chair bound until fairly recently, ergo getting the mods setup, and as MS progresses, the loss of the use of limbs (in my case walking at ALL) has now come. This means I'll have to hire & keep on the full-time in-home care again which is VERY costly & will be all out-of-pocket since Medicare does not cover it. They will only cover visits, so if I end up needing to go to the bathroom, I have no way to get into the bathroom unless I fall to the ground, pull myself into the bathroom, pull myself onto the toilet, do my business, flop off the toilet, pull myself all the way back to the wheelchair, get into the wheelchair, and get back into the couch. I won't even go there about how I am going to get upstairs and into my bed; I can only lay in it and sleep in it whenever it is a weekend & the neighbor is not working. It's pretty intense and I'm not writing all this for some sob-story, I'm writing this to show just how BAD THIS REALLY IS FOR ME TO LIVE!

 

Heck once the State catches wind that a disabled man is "stuck" in his home, or worse what if I get hurt trying to get from point A to B, and no one was here, I'm going to be hauled off to a nursing home. I'm ONLY 34 - and nope - I have NO ONE else in my life either since my "personal ATM" ran out back in the day prior to disability status. The only reason I'm even able to STAY IN MY HOME is because of the mods being done to this place - and as I'm looking around right now, all I can do is think "This is it, might as well start packing"............

 

It just doesn't appear, at all, that there is some "quick fix" to this - and I cannot "prove" to the lender that I don't owe the debt, disputing the debt isn't sufficient, and in the few days I've had to deal with this, the lender has already stated the deal is off unless it's gone. Even if I pay it, the fact the reporting date is as of December or February (can't remember which one & I can't scroll up enough), I'll basically be BIG TIME screwed blued & tattooed. SO, my only "hope" is to pay it & get it deleted, try to go after them after-the-fact, all to avoid the upcoming damages but even THAT is not a for-sure thing either. I don't even know WHO the OC is much less what to do in order to ensure I can stay on track.

 

I've contacted a few FDCPA/FCRA attorneys as well and I have to await their replies, hopefully tomorrow. Pretty f'ing ridiculous that THIS is what it has come to, in a torn up house, about to be thrown into a nursing home now, & I can't achieve a DANG THING through this Pinnacle place. Rest assured, out of ANYTHING I do first thing tomorrow, will be this Pinnacle place getting BOTH BARRELS come tomorrow morning at 8:00AM CST (according to their VM at the number I'm calling).. ONE SINGLE TL HAS SINGLE-HANDILY DESTROYED ME OVERNIGHT.

 

Thank you both again... Guess it's the end of the road for me... So much for "Fair" within that F of the FDCPA/FCRA!!!

Edited by nma851
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UPDATE AFTER THE 20+ CALLS TODAY:

 

Well, what has gone from bad to worse just keeps getting better...

 

First, I contacted Pinnacle, who stated they have no idea who I am, but suddenly "found" me via my captured phone number. Yeah... You read correctly so....

 

I explained everything, said no idea what this is, never had an account, etc. etc., & was told I had to hold on while I was transferred. I ended up being transferred to a place called "Stephens & Michaels" which, now that my # was captured, was found to be another CA and thought great - what have I done?!?!?. Apparently "Pinnacle" is TRYING (emphasis added) to act as an OC while S&M is acting as the CA - or so I think. Explained the same to them - and were surprisingly quite nice for a CA - and then told me they, too, have "no idea" who I am. I was told I needed to call a place called "MRS Associates" & by now i'm already getting irritated but kept my cool. Before I let them disconnect, I asked the S&M people (gosh that's a bad way to abbreviate but it is what it is LOLOL) if they can even tell me WHO this is all for as it is showing $1,253 as of Dec 2013 & there is no OC listed. They told me that I only owe $530.31 & this is for Verizon. OK - interesting - I haven't had Verizon since 2005/2006. I asked if THEY have anything more than just this alleged debt & they did - but they wouldn't collect on it since I am exempt income. What do ya know - a CA with a heart?? Nahhh - something has to be going on...

 

Call the MRS place - said they no longer have the account when it went out of SOL - was given to Pinnacle. SERIOUSLY? A man's house is on the line here & y'all cannot tell me who the heck has what, how much, & WHY yet Pinnacle can haphazardly post TL's - derog TL's at that - to my CR's? OH wait - did I just hear that someone admitted is is out of the SOL & that is why they let go of it? Hmmmmm.

 

Now I call Verizon directly. Enough with the nonsense, let's go to the source. Come to find out, I somehow "restarted the clock" when I was called about changing my service from AT&T to Verizon last year!!!!! I demanded & demanded & demanded how this is even possible, I never initiated a transaction, never established service, never did ANYTHING but (literally) compare their pricing to mine whenever my AT&T contracts were up. You're all asking how - I know - and apparently, the mere fact that I posed an interest in their services was enough to trigger "something" that restarted the clock. I don't buy it for a second - not at all - since I never discussed a bill from "back in the day" nor was it brought up on my end. Needless to say, I went off - which did no good - and even if I DID somehow "restart" the clock, 2012 is the end of the SOL and I talked w/Verizon about the service, on a chat, in 2013.

 

Called Pinnacle back - again getting nowhere, demanding the removal of the TL, who directly transfer me right back to S&M who started the WHOLE process over once again about the $530 being owed, it's outside SOL, and they're returning it to Pinnacle as such with "CLOSED/PAID". I asked about the TL getting deleted since it's not only outside the SOL but beyond CRTP as well, and told they have nothing to do with it except Pinnacle who won't talk to anyone. They tried to conference Pinnacle in and they refused but my battles with Pinnacle have just begun. What does it tell ya when a CA won't take your $$ since it's BEYOND the SOL & they refuse to attempt to collect??? Either a quasi-decent CA or a humane person that chose to abide by the law as well as TRY & help a crippled man out by sending the file back as a "CLOSED/PAID" account... We shall see if I get a fax within the next few hours...

 

Lessons learned of the last 3.75 hours: Trust NO ONE, be grateful SOMEONE actually gave a hoot, & have a lawyer on standby as this is NOT going to go away without an attorney intervening. Validated/restarted SOL via an inquiry that I didn't even initiate from a chat that popped up on my computer while perusing Verizon's site? COME ON!!!!!!

 

As for the lender and my torn up house - once I show I have representation, they WILL ALLOW THE FUNDS!!!!!!!!! While I SURE as heck do not need attorney's fees, at least I know some way, some how, this will get worked out. As for now, with the file being sent back as "PAID/CLOSED", this may not remove the collection account just yet but at least it won't show I have an outstanding balance and anyone will see that it was a 1 month old collection account. I'm working my angles on how to dispute it and may just go ape-**-crazy on Pinnacle & the CRA's over this. I think I'll have some more leverage once this "paid/closed" is showing & I have an attorney backing me eventually.

 

Still think I should DV them from the FDCPA angle or should I just attack from the FCRA angles (or both)?? Thank you all again, as always, and sorry for the long post. Completely NUTS as to how this just gets better & better & better by the minute.

 

Take care everyone & HOPE you have a better start to this week than I have!!!

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Actually, I think getting a lawyer on it is the absolute best thing to do as this type of situation can vary dramatically depending on your state laws. (As always, I think a good legal plan can be a good investment if you've got collectors hanging out there.)

 

I have noticed a new type of lawsuit springing up at my local courthouse recently that arises from this type of situation. A "peace" payment is made to a collector, the mortgage gets closed, and the debtor promptly turns around and files suit for return of the peace payment, damages, and civil penalties for violations of the state Consumer Protection Act.

 

From what I can tell, these suits seem to be successful--although I can't say I know that for sure. The cases I've followed ended up under seal so I can't see exactly how they've turned out, but I'm guessing not good for the collector.

 

I'm sorry I don't really know anything that can help you, but I empathize with your frustration and I wish you the best...

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Actually, I think getting a lawyer on it is the absolute best thing to do as this type of situation can vary dramatically depending on your state laws. (As always, I think a good legal plan can be a good investment if you've got collectors hanging out there.)

 

I have noticed a new type of lawsuit springing up at my local courthouse recently that arises from this type of situation. A "peace" payment is made to a collector, the mortgage gets closed, and the debtor promptly turns around and files suit for return of the peace payment, damages, and civil penalties for violations of the state Consumer Protection Act.

 

From what I can tell, these suits seem to be successful--although I can't say I know that for sure. The cases I've followed ended up under seal so I can't see exactly how they've turned out, but I'm guessing not good for the collector.

 

I'm sorry I don't really know anything that can help you, but I empathize with your frustration and I wish you the best...

You're fine! No need to apologize whatsoever. This entire situation has QUICKLY cascaded so far out of control the only way I can possibly protect myself, despite successfully getting through the court system in the past, is through representation. I don't know enough about nor do I have the time to familiarize myself with enough caselaw on FDCPA/FCRA. The basics are one thing, but given the intensity of this nonsense, I cannot even begin the pleadings!!

 

As for what you've commented about, this "peace" payment - if that's a "good faith" type payment, I cannot see how that would work out well in the debtors favor. I suppose this is just me reading your remark on its face value & not considering anything else, but up until today, I thought I read/heard everything.

 

Getting this house COMPLETED is the only goal I care about - I cannot wheel around nor get inside/outside unless I do what I've been advised to do. Luckily I own the place F&C as-is, have exempt income, and hate that I even have to take a mortgage out on an otherwise F&C property. IT's my only option though to stay out of a nursing home at age 34! :):) . All I know is I've tried - and in the meantime, while I await whatever attorney is doing, I'm crafting up the letters to Pinheads and the CRA's based on "the basics"..

 

The circumvention of the laws in just my example alone are likely enough to make MANY heads spin. Let's report as an OC, deny liability on the reporting I'm doing, say it's the 3rd party's fault, & then the third/fourth/fifth/sixth/seventh parties involved, then resurrect/re-age, I mean come the hallll on already!! 100 different circles? FORGET THAT! It all boils down to A) FCRA says the person furnishing the info better make sure it's accurate and B) the person collecting better follow the laws. While cut & dry, I've got to paint that picture for a judge - and that's a MURAL for me!!!

 

If it is allowed, I'll post the letter, citations, and caselaw I've found. I would just be interested in seeing what the opinions are based upon the facts of today. Thank you, however, for your remarks. All it takes is one case to set some sort of "precedent" and regarding the issues with me, I will NOT mind one bit if this means eventually helping others down the road over OC's claiming they're NOT debt collectors while throwing the liability on a third party. Heck now you've got me going - maybe I'll start drafting a complaint for the attorney & see what he thinks; I'll post it here too - if that is allowed and in the appropriate areas. This HAS to be stopped & I'll die (literally) trying. If MS doesn't take me down first, at least I went out doing my best & with my good name!! Would be nice to take a nap in my bed right about now but OOPS - forgot - gotta "wait" longer now since everyone walked off the job thanks to this BS!

 

Sorry for the venting at the end here; never in a million years did I anticipate the kinda phone calls I've had today. While I can't use as evidence either in my State, if anyone heard the audio of just how round & round this went - they would be 100% lost as I am. We all know, however, who will come out smelling like a rose once all is said & done! :aggressive::aggressive:

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