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Established Member
bd1980
Posts: 16
Registered: ‎06-14-2012

Found out I had collection that credit report didnt catch, what to do?

I signed up for myfico and got my equifax score which says 580. I kept wondering why it looked bad. It states that I have a collection and the collection agency is "905YC00310" for "Firstenergy Cor", I guess its from my old house from a utility bill-bad divorce- (which would be appx middle of 2009), and that the date assigned is May 2012 .  I didn't know about this and when i ran all my credit reports, including Equifax on June 13, 2012, it has no mention of collections and its "0".  I was going through at that time and paying stuff off, trying to get my life together.  This collection is only for $157.00.  It's so frustrating that I just found out about this and I'm sure it's killing my score for 157 bucks.  I obviously want to pay it and speak to somebody on Monday.  What can I say to them when I pay it off to try to get this off my report as quickly as possible?  Also, how do I find out who "905YC00310" is?  Why didn't the equifax report I got in the middle of June catch this?

On another side note...the reason I was inquiring my actual score was because I am looking into getting a motorcycle loan. I have all bills paid off and can easily pay this.  I am wondering if a motorcycle loan is a good way of increasing my score, providing I am able to get one after getting this collection taken care of, by making timely payments every month?

Thanks everybody and sorry for all the questions.  This forum has been an unbelievably helpful tool with trying to change my financial life around.

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Found out I had collection that credit report didnt catch, what to do?

One of the primary provisions of the FDCPA is intended to prevent the very situation you now face..... a submarine collection being reported to your credit file, and thus appearing in your credit report, without your knowledge.  FDCPA 809(a) requires a debt collector, after beginning collection activity by contacting you or reporting to your CR, to send a dunning notice within 5 days therafter, informing you of their collection activity, the name of the creditor, and the amount of the asserted debt.

 

They have apparently violated that requirement.  Violation of timely dunning notice requirement is not, per se, basis for requiring deletion of their reporting, but you can file a complaint with the FTC, your BBB, etc., or bring legal action.  Meanwhile, lack of dunning notice may give you some leverage if and when you call them.

 

You might, in your discussion with them, agree to overlook their violation of FDCPA 809(a) if the agree to a PFD.  They have unclean hands in their collection activities.

Established Member
bd1980
Posts: 16
Registered: ‎06-14-2012

Re: Found out I had collection that credit report didnt catch, what to do?

Thank you for the response, I will be using that when I contact them.  Speaking of contacting them, how do I find out who they are?

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Found out I had collection that credit report didnt catch, what to do?

Pull your CRs directly from the CRAs or annualcreditreport.com.


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