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surfnspy
Posts: 84
Registered: ‎06-17-2012
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I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

I noticed a hard inquiry on my Equifax for a company called "DYNAMIC RECOVERY SOLUTIONS."

 

Not knowing what it was about I called them and was told they are collecting a debt from 1992 for an Amex account. Problem is I was 20 years old and did NOT have an Amex account. I still don't and never have.

 

I did some research and learned that they can perform a hard inquiry based on it being a "debt collection." He proceded to tell me to call EX, EQ and TU and take it up with them. He then told me to have a nice day (in a smug voice) and hung up.

 

My guess is I showed up on some outdated or incorrect list and to get my attention they have placed a hard inquiry on my EQ to strong-arm me into paying the debt. 

 

I refuse to take this lying down. I need my saavy peeps from MyFico to help me deal with this nonsense.

 

This just doesn't seem right. Oh, and by the way, I'm applying for auto-financing this weekend (I kid you not).

 

Thanks to anyone who has any idea how to deal with this.

 

Mike


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Valued Contributor
nicholasyud
Posts: 1,737
Registered: ‎08-13-2012
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Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

Did you get the person name phone number day time that you place your call to them ?

Sent the request to Credit Bureau and ask them to remove un-authorize inquiry that you not authorize......Sent it by 1 days express mail. Wait a few days then call them and explain the situation. You might get them remove but nowhere around 2 to 4 weeks.


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Valued Contributor
madmann26
Posts: 1,459
Registered: ‎08-30-2012
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Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

The company is bs'ing you into thinking the CRA's will do something about it.

Best thing you can do is file a complaint with the FTC and the BBB to get them to remove the inquiry and answer to the FTC as to why they pulled you.

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surfnspy
Posts: 84
Registered: ‎06-17-2012
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Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

Thanks madmann,

 

If what I've read is true, there is something called "permissable purpose." Without it, anyone doing a hard on your CR can be charged $1,000. The problem is, if done in the name of "debt collection" it's permissable. 

 

To me, it's disgusting. Let's say I did have an Amex account from 1992 and bailed on it. Isn't that past the statute of limitations??? It's bad enough Amex would probably blacklist you for life.

 

I know it's only a hard inquiry at this point and I might sound like a whiner but, I'm pissed. Especially since I was basically told by some numbskull to buzz off and hung up on me. I'd be willing to spend $1,000 on an attorney to make dynamic recovery have to pay $1,000.


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Valued Contributor
GregB
Posts: 1,669
Registered: ‎05-24-2007
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Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

[ Edited ]

It is very possible that they could do a hard inquiry on your credit to collect a debt from 1992. You would need to look at the laws to see if there is something that stops that. SOL varies a bunch and there are many things that can reset SOL so you can't just assume it is past SOL.

 

You are saying that you never had an Amex account, right? I think that is where you should go to get this fixed. If the account isn't yours, then they will have to fix it. If you can prove damages, go for it. I would work on getting the information on the account. I would put them on the defensive by determining damages like a possible $1000 penalty according to law and sue them for it. BUT, be sure it wasn't your debt first.

 

Once you have done some research, PM me and I will send you where you can look for further info.

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

you don't need to authorize anything if they have an account with your name attached to it. Personally I would request debt validation on the account, and if somehow it was in your name I would send the OC a 623 letter as well. I would also dispute with the CRA as account is "Not mine" and dispute permissible purpose.

 

Hey depending on the amount they claim you owe if Amex verifies it's your account it could get interesting cause if it gets resolved in the end small possible chance at getting an Amex backdated to 1992 as a reward lol jk small chance in hell but hey =)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
diabla
Posts: 230
Registered: ‎10-01-2012
0

Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

I would love to know what could possibly reset the SOL on a debt from 20 years ago!  Especially if the OP is claiming no knowledge of it, then its safe to assume they haven't made any payments on it to reset the clock.  I havne't seen any state's SOL for credit card or contract debt that ran longer than 7-10 years max.  So this is very suspicious!  I would love to follow this just because I love a good horror story!   I bet this company just bought a ton of old debt is trying desperately to collect on it.  Google their name and see if you can find similar stories.

Contributor
diabla
Posts: 230
Registered: ‎10-01-2012
0

Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

Ugh, I just did a quick google of them and they're everywhere with horrific ratings and reviews!  I'm going to take a leap and say the debt probably isn't even valid.  Plenty of advice here on how to deal with the devil.  Good luck.

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somnipotent
Posts: 367
Registered: ‎06-02-2008
0

Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!

not to be nitpicky.... but why is this in the credit card forum?  wouldn't this be more appropriate in the rebuilding credit forum? 


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Regular Contributor
alboto
Posts: 211
Registered: ‎08-23-2012
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Re: I'M FURIOUS SOMEONE PLEASE CALM ME DOWN!


diabla wrote:

Ugh, I just did a quick google of them and they're everywhere with horrific ratings and reviews!  I'm going to take a leap and say the debt probably isn't even valid.  Plenty of advice here on how to deal with the devil.  Good luck.


said by the devil herself.


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