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Another example of excellent advice from this forum

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MarineVietVet
Moderator Emeritus

Another example of excellent advice from this forum

Last Tuesday I answered my phone and a voice on the other end asked for my son by both his names. Uh oh I thought. I asked who was calling. He said it was "ERC". I asked "Ok, who is the world is ERC?" He said it was a collection agency. That was all he was able to tell me by law and I understand that. Since my son was not home the conversation ended.

 

I asked my son about this and he assured me (as our children often do) that he had no idea what this was about. I pulled all three of his reports and there was nothing negative on Experian but on Equifax and Transunion there was a CO that was not there less than a year ago. It turns out that back in 2003 a lady friend had added him to her Chase account as an AU.Then for whatever reason she stopped paying on the card. I believe him when he says he didn't know about the late payments.

 

I knew nothing about this until the call from the CA. I helped show him how to dispute this negative entry as not being his account with both EQ and TU. Within 24 hours the account was deleted from both agencies. That was definitely a relief. I then explained to him how being an AU can be helpful but can also hurt your credit if the primary account holder does something wrong.

 

I would not have known how to dispute that if not for the information I have gained here. I would not have known LOTS of things!!!  I have pretty good scores now but much of that is actually because of ignorance on my part. Until I found this forum I had never heard of DV, PFD, GW, etc. All my negatives dropped off simply from old age; not by any effort on my part to get them deleted early. I will take some credit for having a clean payment record for many years but as hindsight is 20/20 my scores would have recovered much faster if I'd known about myfico. (Water under bridge)

 

Since the CA has not contacted my son as of today we have not gotten a dunning letter. When we finally do I will know how to handle the next step because I've learned here that an AU is not responsible for even a penny of charges on an account.

 

My advice to others? Don't give up.

 

Thanks for all the help.

 

 

(myfico)
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

 

CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

Message 1 of 6
5 REPLIES 5
haulingthescoreup
Moderator Emerita

Re: Another example of excellent advice from this forum


marinevietvet wrote:


I asked my son about this and he assured me (as our children often do) that he had no idea what this was about...




lol --Yup!

This also just goes to show how unethical many CA's are. They know that an AU isn't responsible for the debt, but if they can get money from someone, anyone, that's all that matters.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 6
MarineVietVet
Moderator Emeritus

Re: Another example of excellent advice from this forum

I have several questions about this situation.

 

1. When my son gets the dunning letter and sends back the DV does he even need to mention that this account has been deleted by both EQ and TU? Or just write a simple "Please validate this account as being mine"?

 

2. I think I know the answer to this one even as I ask it. At some point in the future can this CA sell this account to another CA that will once again report a CO to the CRA's? And will the process start anew? 

 

 

Message 3 of 6
Anonymous
Not applicable

Re: Another example of excellent advice from this forum

Another example would be that I was going to apply for two secured credit cards. I had made up my mind to apply for one of the cards with Public Savings but after reading many, many posts on this board, I learned that card would not grow with me as my credit scores improved. It  would remain secured until I closed it, which actually may have caused me to lose points upon its closure. In my present state, this could be detrimental!

 

Instead, I learned from this board that it is more beneficial to me to apply for a secured card with Navy Fed or Citibank, both of which I have applied for cards with. I am waiting for their approvals now.

 Woman Happy

Without this forum and the advice here, I would never have considered future growth because I was too focused on growing just for today.

 

Thanks to the many posters on this board who provide EXTRAORDINARILY GREAT advice. 

 

 

Message 4 of 6
armymom
Regular Contributor

Re: Another example of excellent advice from this forum


@MarineVietVet wrote:

 

I would not have known how to dispute that if not for the information I have gained here. I would not have known LOTS of things!!!  I have pretty good scores now but much of that is actually because of ignorance on my part. Until I found this forum I had never heard of DV, PFD, GW, etc.

 

All my negatives dropped off simply from old age; not by any effort on my part to get them deleted early. I will take some credit for having a clean payment record for many years but as hindsight is 20/20 my scores would have recovered much faster if I'd known about myfico. (Water under bridge)

 

 

 

 

I share te same sentiment.  I have learned so much from this forum and am so glad I found it.  Unfortunately for some of us hind sight is 20/20 and that's how we learn.

Filed BK 07/07/15 Discharged 10/07/15
Starting scores 11/2015 EQ 567 TU 487 EX 531
Current scores 02/2017 EQ 649, TU 642, EX 651

Cap 1 QS 5000 Cap 1 QS 6500, PenFed Promise 2500, NFCU GoRewards 8000 NFCU CLOC 4000
In the garden until 2018
Message 5 of 6
Phoenix-rising
Frequent Contributor

Re: Another example of excellent advice from this forum

No doubt we're all better off for having found this forum and been educated about how our credit works.  My children are definitely benefitting as well.

 

This is an incredible resource!

DH's FICOS: July '08 TU-661 / EQ-593 / EX-656 --> April '09 TU-730 / EQ-705 / EX-685

MY FICOS: July '08 TU-735 / EQ-727 / EX-767 --> April '09 TU-789 / EQ-774 / EX-767
Message 6 of 6
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