what does this term mean, "purchased by another lender&

[juliedealer]

This remark is made on a charge account (Bank of America) I filed bankruptcy on. It is also the only account that shows me 30 days late, but by my records I paid right up to the date of filing.

 

Thanks Julie

[Manequinne]

Another place has purchased the account.

 

I had these on my report, and lo and behold, a collection agency was the one that had purchased it.

I hadn't filed BK....and my stuff was old.

 

This might not be the thing that happened in your case since you say BK.

 

Let me bow out gracefully from this post now....

[juliedealer]

should I request detailed records from Bank of America? I disputed the late payment online and it came back "remains".

 

This is an account I made my first mistake with, I disputed that I made a late payment.

 

Julie

[nickd23]

I've had this happen to a couple my credit cards, my Younkers and Menards, both purchased by Household Bank who have now taken over my accounts. And SINCE these were taken over by Household Bank, they made their way to the trashcan, I REFUSE to do business with Household since they suck so much

[Manequinne]

I just thought of something.....couldn't you call your lawyer and ask him to look into it? (if you are bothered by the 'sold' notation)

 

I mean if you think they sold it....?

 

I have no idea about how BK stuff works

 

That is the first and only thing I can think of.

 

I know someone else will come along and offer a suggestion.

[juliedealer]

well I found out, "purchased by another lender" does mean sold to a collection agency. This was done AFTER I filed for bankruptcy. After an automatic stay is received they are supposed to suspend any action to collect.

 

I feel like I'm being setup here for something, perhaps an attempt to "poisin" my credit report with inquiries from collection agencies, or even an outright collection attempt.

 

Any thoughts ?

[SassyinAz]

Julie,

 

Send them a letter, CRRR, telling them they bought a debt that was discharged in bankruptcy and are attempting to collect in violation of the discharge injunction. Remove it chop chop.

 

Debt buyers are the lowest of the low and buy and sell in batches of debt with usually limited identifying information and no backup documentation. It's auctioned off even to the highest bidder!!!!!!!! A lot of it is not screened, so the dummies bought a worthless piece of paper. Take joy in letting them know, lol.

 

Dispute the other away too, as they have no interest even in updating if sold and you've likely been purged or archived, as reported now, it too is a collection attempt on a discharged debt. If it doesn't go away with a dispute, send them the same letter.

 

Sassy

 

EDITED to add: I just noticed you didn't say discharged, change the wording to violating the stay.

[juliedealer]

Sassy,

thanks for the help here. The BK was discharged in Aug that year. When you say "send them a letter, do you mean the CRA, Bank One? I don't know who it was sold to neither does the CRA I called about an explanation of the term.

 

Julie

[juliedealer]

shameful bump hoping someone is around...

[SassyinAz]

Sassy,

thanks for the help here. The BK was discharged in Aug that year. When you say "send them a letter, do you mean the CRA, Bank One? I don't know who it was sold to neither does the CRA I called about an explanation of the term.

 

Julie

 

Oh GOOD, Julie,

 

Hopefully, they squished your paper up and played garbage can basketball with it, knowing they couldn't collect.

 

I've had Bank One removed from my own reports for something similar that was included in BK.

 

Dispute that with the CRA's, as they've no reason or interest in updating, AND it's not their account anyway since. If it doesn't go away via disputing, send Bank One the letter. If they are reporting a balance, they're still attempting to collect.

 

You've already disputed, I noted, and it came back remains. That makes the ball yours. I think I'd go for a letter to BOA first, and then, dispute again. I'm guessing you want the TL deleted altogether than to reflect a 0 balance with an included in BK notation.

 

If you don't want to contact BOA via letter, just keep picking at that TL and re-disputing. You didn't screw up saying it was never late, that history shouldn't be there.

 

Did you ask the CRA that came back as "remains" for the specific procedures they followed???? They should give you a name, address, phone number. Then you'd have a better shot in communicating with BOA.

 

Sassy

[Reniece20]

I've had this happen to a couple my credit cards, my Younkers and Menards, both purchased by Household Bank who have now taken over my accounts. And SINCE these were taken over by Household Bank, they made their way to the trashcan, I REFUSE to do business with Household since they suck so much

 

Uh oh...what's wrong with Household Bank? I'm doing my auto refinance through them.

[juliedealer]

ok, I called the CRA and asked for details. Their answer, well we contacted them and they say it is correct. They don't know who they talked to or how they proved it.

 

NOW WHAT !!

 

Julie

[SassyinAz]

LOL Julie,

 

Gotta love that!!!!!!!!

 

You can make a specific procedural request in writing and they either have to commit to what they told you on the phone in writing or do better than that, within 15 days. If you restate your dispute along with a procedural request, a lot of times it gets deleted.

 

There should be a sample letter out front in the database section, if not, post back and I'll find one for you, if this is how you want to go.

 

Sassy

[juliedealer]

ok Sassy...

I've been doing a bit of research. "purchased by another lender" does indeed mean sold to someone else for collection. My "Automatic stay" and my BK protects me from further collection. As I see it selling to a collection agencey is an attempt to collect.

 

I also looked up estoppel and found this http://www.lectlaw.com/def/e040.htm

 

 

Problem: how do I find out who they sold it to and how do I document when they sold it ? Is there a certain type of letter that can demand this information from BOA?

 

Julie

[NanaSi]

Julie, Did you have a BK lawyer-the one who handled your BK originally? Have you informed them of this?

[juliedealer]

Nansi,

 

thank you for responding. my BK lawyer ( actually the secretary) said call them if somebody tried to collect.

 

My concern is that is shows up on my report; a potential lender sees this and thinks somebody is gonna come after me. Even if BOA never does have it acted on. This may be BOA's actual intent, just let it LOOK like that.

 

Julie

[NanaSi]

I'd insist on talking to the lawyer.....they should deal with this, IMHO...and in my experience!

[juliedealer]

Nansi,

 

my lawyer is pretty useless. wish I had known wht to look for when filing but oh well.

 

I finally got the nerve to call BOA and ask to whom and when this account was sold, they tell me B Line in december 2002... 14 months after BK. BOA has always acknowledged my BK. So I call B LIne turns out it is a law firm, I ask "was this account sold to you for purposes of collection?" they say no.

 

Why would they want to buy an account they can't collect on?

 

 

Julie

[juliedealer]

NanaSi,

 

My lawyer is pretty useless he has and will always drop the ball, Ilearned this from exprience.

 

Here is what I found out BOA sold the account to Weinstein Treiger & Riley, (associated with B-Line creditor bankruptcy services)

 

Sequence of events

 

4/26 I pay BOA bill due 5/18/2001( I seldom waited for a statement always paid right after the billing cycle ended)

I file for BK on 5/1 and receive an automatic Stay on 5/11/2001, (court issued 5/11)

5/20 I mail copy of stay to BOA just as caution( court has already notified them)

This is what BOA reports

May

30 Days Late

Jun

Coll Chargeoff

 

Then in december2002 BOA sells to Weinstein, 14 months after discharge (Aug 2001)

 

Think I can sue for this?

 

Julie

[SassyinAz]

Hmmmm Julie, ok, thinking....

 

Nana is right, the BK lawyer should take care of it, but they don't and yours reads as useful as mine. Seems the filing through discharge is all they practically provide services for. DO include your attorney's name and title as a cc on any correspondence!!!!!!!

 

BOA, I really hate them did I mention that previously? LOL

 

Our tradelines from them went away via disputes, a letter, and another dispute. That was my preferred cycle, though I'm not sure anybody ever actually read any letter I sent because few to none ever responded. But, I was being and good consumer and trying by the only means available and should I have needed to use that papertrail, I could have, it was solid.

 

You were discharged = no debt, adios. Read the words on your discharge paper, the court makes it very clear. The power of that order and the words themselves never really sunk in for me until I began repairing, then I more fully understood the order.

 

Here's the BK Code and effect of discharge, hold everyone to it: http://www4.law.cornell.edu/uscode/11/524.html

1, 2, and 3 are mighty powerful. BOA like the others who sell worthless paper know what they are doing is wrong and in violation of the discharge, they damn sure do, they bank on making a few bucks and not being held accountable -- DITTO for the dummies that buy it, their tactics of collection are torture and intimidation of the unknowing, grrrrrrrrrr, I REALLY hate that!

 

Forget about the BK for a second, if BOA is not reporting accurate and complete; updated and verifiable information, they are in violation of the reporting requirements. Focus on the reporting to make them go away. Most BK TL's are so wrong that it is easier to delete them than to figure out how to make them correct. AND, the debt is gone, there is no debt, they've no motivation to do anything but delete unless, as you stated, they WANT to make you look bad, work hard, and keep your credit damaged -- like it's your personal punishment for having dared to file something you are legally allowed to file. The sad truth is they get away with this, dare I say, most of the time -- that is why it's there, they are counting on either you not knowing or having the stamina to challenge and keep challenging them on it -- prove them wrong!

 

Ditto for the attorneys that purchased you -- if they did so knowingly, well shame on them, they can't collect and they know it. If they didn't know it, they were banking on you not being discharged or in the case of Chapter 13's not completing the plan, seems most C-13 filers don't, though I have no idea why. Either way, they loose, they bought a worthless piece of paper. That they told you they didn't purchase it to collect is hooooooooey, pure hooey and CONFIRMED hooey if they have reported you to the CRA's. It's my understanding from your posts that they haven't reported, yes? If so, they'd be subject to the FDCPA and validation requirements, so they are easily zappable, BK violations aside.

 

See this thread, you could sue for the selling but it's not so cut and dry:

http://www.creditboards.com/phpBB2/viewtop...ight=sassy+sino

 

Firstly dispute with the CRA's as not mine -- you want the included TL's gone. If you have to dispute further, pick apart the listing, I was never late on xx/xx/xx -- delete; The status is incorrect -- delete; The commencement of delinquency and length of reporting is inaccurate -- delete.

 

If not gone, send some version of the letter cut and pasted below, CRRR, once the green card is received, dispute again with the CRA's, giving them overlapping requirements within the 30 days and maximum further violation potential.

 

If that doesn't work, then start using their own information against them, as well as the additional violations they will no doubt rack up, sold after discharge for BOA and convo with the attorney. CRRR, green card, letter, dispute

 

You can try to sending copies of your correspondence to the CRA's and asking them to delete based on a non-response or lack of verifiable information to support the reporting. Be careful here though, you may just want to give them a summary of your actions because it will be forwarded to the information furnisher and acknowledge your having filed for BK for the CRA's -- don't make their jobs any easier, I say.

 

I'm sorry this response is so long (I'm starting to having wordy posting guilt), it's just not an easy question.

 

Sassy

[SassyinAz]

xx/xx/xx

 

 

 

Dummy OC

 

Dumber CA/Worthless scum of the earth debt buyer

 

CERTIFIED MAIL RETURN RECEIPT REQUESTED #

RE: Account #

 

 

NOTICE -- Validity dispute of information provided to CRA's for reporting

 

Dear Sir or Madam:

 

This letter is being sent to you after having reviewed my credit files. Please be advised, I hereby dispute the validity of these alleged debts, referenced above by your reporting account number, and their inclusion and reporting on my credit files, in their entirety.

 

This is a request for validation made pursuant to the Fair Debt Collection Practices Act (FDCPA), Section 809 and Arizona law and verification made pursuant to the Fair Credit Reporting Act (FCRA), Section 623.

 

I have had no communications with you regarding this matter and further the alleged debts/tradelines DO NOT EXIST pursuant to the filing and subsequent chapter 13 discharge constituting a permanent statutory injunction of which you were notified by the Trustee.

 

Your reporting is in contempt of the U.S. Code, Title 11, Bankruptcy, Section 524, Effect of Discharge. You are knowingly, fraudulently, and inaccurately reporting in violation of the Fair Debt Collection Practices Act (FDCPA); in violation of the Fair Credit Reporting Act (FCRA); in violation of Federal and State Unfair and Deceptive Practices Acts, and in violation of Arizona law.

 

Your responsibilities and duties to consumers as an information furnishers are clearly detailed in these laws. Each of which provide severe penalties for non-compliance, including monetary damages of $1,000.00 per violation; court costs and attorney's fees; as well as federal, administrative, state and criminal penalties.

 

FCRA, Section 1681s-2(, creates a cause of action for a consumer against a furnisher of erroneous credit information (Nelson v. Chase, 2002).

 

The FDCPA Opinion letter, LeFevre-Douglass, clearly establishes the responsibility of the original creditor with regards to the actions of 3rd party collectors.

 

You have both been knowingly willful and negligent in your sale, purchase, re-aging, and continued inaccurate and incomplete reporting of these non-existing debt/tradelines; therefore, to cure these violations, I request you both immediately request the full deletion of all information regarding these accounts, from each of the consumer reporting agencies that each of you report to, and provide me with documentation showing the same within 30 days. Be clear, I am not requesting an investigation or re-investigation, I am requesting deletion to cure your documented violations.

 

Should your records be in disagreement with mine, please send complete evidentiary documentation to substantiate the information your are furnishing for reporting as verification and validation of these alleged debts/tradeline entries, including the commencement of delinquency dates, pursuant to the FCRA, FDCPA, and Arizona law within 30 days.

 

Be advised you do not have my permission to pull my reports in response to this dispute, should you do so, you will have violated additional provisions of the FCRA for which you will be held accountable.

 

Sincerely,

 

cc:

 

US Bankruptcy Court, wherever usa

Bankruptcy attorney

[juliedealer]

Sassy,

first, I will say Novenas for you and your family for 30 days for such a detailed response. I'm not contesting I had a debt before the BK. I disputed the late payment they showed and it was removed.. so now I can't contest I ever had a debt! But that "sold to another lender" really disturbs me.

 

As I understand it I can't now validate because I earlier contested the late payment and it was corrected.

 

Do I understand correctly I can call BOA on the carpet for selling the debt 14 months later by quoting how I am protected by the BK laws?

 

Can I demand they remove the entry entirely?

 

Julie

[SassyinAz]

Sassy,

first, I will say Novenas for you and your family for 30 days for such a detailed response. I'm not contesting I had a debt before the BK. I disputed the late payment they showed and it was removed.. so now I can't contest I ever had a debt! But that "sold to another lender" really disturbs me.

Oh very cool, thank you, we'll take it!!!!!!!!!

 

The debt is gone, Julie, you have no debt! So then, pick apart the other pieces of their information.

 

Dispute that charge-off as inaccurate. Hmmmmmm, no don't do that, he he he, dispute the "sold to another lender" notation -- they sold something that shouldn't have been sold, it didn't exist, was discharged.

 

The never having had a debt would be for the attorney who bought it, should he ever report it.

 

Just because you disputed the late payment and it was deleted doesn't mean you still can't dispute.

 

It was sold after your discharge and reported after your discharge. That's the point, what is reporting if not an attempted collection, with no money due, they have no reason to report -- none!

 

Is this appearing on all of your reports or just the 1? And if it is, is it reported exactly the same?

 

As I understand it I can't now validate because I earlier contested the late payment and it was corrected.

Oh heck no, you can validate whenever you want to. You can ask for verification whenever you want to as well.

 

If you change the wording of the letter and make it to BOA only, tell them you want documentation to substantiate what they are reporting as verification, that's per the FCRA, they don't fall under the FDCPA (the attorney who bought you does).

 

Leave out the parts about it not being yours. Focus on the reporting being inaccurate, incomplete and/or not updated. They have previously updated information, but that was the date only, they are responsible for all of it, not just the date.

 

Do I understand correctly I can call BOA on the carpet for selling the debt 14 months later by quoting how I am protected by the BK laws?

Yes, exactly. Use the information from the phone conversation against them too!

 

Can I demand they remove the entry entirely?

 

Yes. Tell them there is nothing that requires them to report at all, your previous relationship is closed and you owe them no money; you previously disputed and the information was incorrectly and incompletely updated, they are responsible for that information as long as it remains AND their reporting and the sale of your discharged debt is in violation of the discharge injunction; to cure their violations please delete or not to respond the next time you dispute with the CRA's.

 

If you want to do just the violation of the discharge injunction, go ahead, that carries more severe penalties anyway -- and contempt proceedings are no small matter.

 

You sold my discharged debt on xx/xx/xx per whoever you talked to and continue to report inaccurate and incomplete negative information regarding our previous relationship to the CRA's in violation of the discharge injunction, please delete. Include the effect of discharge text or not, depending on what you are comfortable with.

 

Sassy

[juliedealer]

Sassy,

Anything wrong with inserting the following in your letter?

 

When I saw that the account was "purchased by another lender" I called your bank and spoke to Tracy somebody( I have real name), she informed me that yes you had sold this account to B Line a collection agency in December 2002. My bankruptcy was filed May 2001 and discharged Aug 2001 as you well know.

You incorrectly reported my account 30 days late in May, when you had received an Automatic Stay by May 15.

 

Julie

[SassyinAz]

Sassy,

Anything wrong with inserting the following in your letter?

 

When I saw that the account was "purchased by another lender" I called your bank and spoke to Tracy somebody( I have real name), she informed me that yes you had sold this account to B Line a collection agency in December 2002. My bankruptcy was filed May 2001 and discharged Aug 2001 as you well know.

You incorrectly reported my account 30 days late in May, when you had received an Automatic Stay by May 15.

 

Julie

 

Change the last sentence to something like, you've continued to inaccurately report information to the CRA's since the filing -- don't give them the specific dates or tell them exactly what is wrong.

 

Re-stating your conversation is good because that confirms it was sold after you discharged.

 

The reason why is, this is a discharged debt, beyond the discharge it's closed. They have no relationship with you and CAN'T pull your reports to see how or what they are reporting -- they have no permissable purpose. They have to know what they are reporting and have the records to back it up (that's the verification part).

 

Neither does that attorney that bought it, should they decide to get snoopy.

 

That's one of the FCRA responsibilities of an information furnisher, to maintain the records that verify what is being reported. If they don't keep the records, it can't be reported.

 

Don't help them. You don't owe them any money, make them waste their employee's time and energy (company resources) in digging your records out of the archives.

 

Hopefully they'll decide it costs too much for a debt that has been discharged -- they'll never see any money as a result of anyone's time.

 

OR, if someone digs it up, they will see that their own records only hurt them, better to delete and divorce the responsibility and liability for a zero return on their time and effort.

 

Sassy