HELP! Some credit questions!

[Saffyreblue]

Currently living in New Jersey: #1. Company charged off debt in Oct. 2003. Still shows on credit report. Collection agency shows SAME debt opened as of Oct. 2006. Is this legal? Can a company charge off and 3 years later a CA open and collect on it?

#2. In 2001 opened an account for equipment through LeaseComm, haven't paid on it since 2002. It was charged off in 12/2007 for $12,617, but the credit report shows no history before that. Not sure if this amount is correct. What should I do first? DV this creditor? Also, does the SOL go by Florida where it was opened or NJ where I currently live? Anyone know the SOL for these states?

#3. Judgement filed 6/2004 in NJ for a motorcycle. Grandfather cosigned. Got into accident in 1999 and bike totalled. Only liability insurance. Grandfather told me he paid it off. Called to find out about judgement from Asset Acceptance Corp. Court said originally filed against me and grandfather, but dropped against grandfather and only reported for me. Grandfather died last year so I can't ask him what happened. I thought this was paid. Address on file was where I lived 5 years ago. Never got any notice of lawsuit. The court gave me the name and address of the attorney. What can I do? THIS ONE'S SERIOUS!

THANKS SO MUCH FOR ANY HELP ANYONE CAN OFFER!!

Message Edited by Saffyreblue on 02-29-2008 07:49 AM

Message Edited by Saffyreblue on 02-29-2008 07:50 AM

[Anonymous]

Saffyreblue wrote:
Currently living in New Jersey: #1. Company charged off debt in Oct. 2003. Still shows on credit report. Collection agency shows SAME debt opened as of Oct. 2006. Is this legal? Can a company charge off and 3 years later a CA open and collect on it?

The date they are reporting as open date is more than likely the date they acquired the account and "opened" it with their company. Date opened doesn't affect anything. Yes they can try to collect on it as long as they are following the FCRA and FDCPA.

#2. In 2001 opened an account for equipment through LeaseComm, haven't paid on it since 2002. It was charged off in 12/2007 for $12,617, but the credit report shows no history before that. Not sure if this amount is correct. What should I do first? DV this creditor?

Can't DV the OC, only a CA. Can't properly answer if you should DV until know for sure SOL and what one to use.

Also, does the SOL go by Florida where it was opened or NJ where I currently live?

I've seen this asked and answered, but can't remember for certain, someone else will answer it tho, I'm sure.

Anyone know the SOL for these states?

http://www.bankrate.com/brm/news/cc/20040116b2.asp#mo

Florida SOL is out if it goes from the date in 2002. NJ is 6 years.

 #3. Judgement filed 6/2004 in NJ for a motorcycle. Grandfather cosigned. Got into accident in 1999 and bike totalled. Only liability insurance. Grandfather told me he paid it off. Called to find out about judgement from Asset Acceptance Corp. Court said originally filed against me and grandfather, but dropped against grandfather and only reported for me. Grandfather died last year so I can't ask him what happened. I thought this was paid. Address on file was where I lived 5 years ago. Never got any notice of lawsuit. The court gave me the name and address of the attorney. What can I do? THIS ONE'S SERIOUS! THANKS SO MUCH FOR ANY HELP ANYONE CAN OFFER!!

Sorry, no experience with judgements, except they are major baddies, remain for 7 years from date of filing and if upaid they can be renewed in some places.

Message Edited by Saffyreblue on 02-29-2008 07:49 AM

[Anonymous]

Saffyreblue wrote:
Currently living in New Jersey:

 #1. Company charged off debt in Oct. 2003. Still shows on credit report. Collection agency shows SAME debt opened as of Oct. 2006. Is this legal? Can a company charge off and 3 years later a CA open and collect on it?

YES

#2. In 2001 opened an account for equipment through LeaseComm, haven't paid on it since 2002. It was charged off in 12/2007 for $12,617, but the credit report shows no history before that. Not sure if this amount is correct. What should I do first? DV this creditor? Also, does the SOL go by Florida where it was opened or NJ where I currently live? Anyone know the SOL for these states?

Either SOL can apply http://www.fair-debt-collection.com/statue-limitations.html 

Who is reporting - an OC or a CA?  This may fall under UCC

#3. Judgement filed 6/2004 in NJ for a motorcycle. Grandfather cosigned. Got into accident in 1999 and bike totalled. Only liability insurance. Grandfather told me he paid it off. Called to find out about judgement from Asset Acceptance Corp. Court said originally filed against me and grandfather, but dropped against grandfather and only reported for me. Grandfather died last year so I can't ask him what happened. I thought this was paid. Address on file was where I lived 5 years ago. Never got any notice of lawsuit. The court gave me the name and address of the attorney. What can I do? THIS ONE'S SERIOUS!

Can you dig thru granfather's records?  Need to check court records for 'service' and was it properly served? If not - it can be vacated.  Don't contact that attorney yet - do some digigng first on the service issue.

THANKS SO MUCH FOR ANY HELP ANYONE CAN OFFER!!

Message Edited by Saffyreblue on 02-29-2008 07:49 AM

Message Edited by Saffyreblue on 02-29-2008 07:50 AM

[Saffyreblue]

Thanks so much for the help! THIS IS A MESS!

Another question......#2 is the OC. If I can't DV the OC what can I do? It wasn't sent to a CA.

Also for #1, can a CA and the OC both report the same debt? If not, what can I do?

Does anyone know if the reporting SOL goes by state debt originated or state where I currently reside?

For #3, does the COURT have to prove service? Or does that attorney have to prove service. I don't have access to grandfather's records

[Anonymous]

Saffyreblue wrote:
Thanks so much for the help! THIS IS A MESS!

Another question......#2 is the OC. If I can't DV the OC what can I do? It wasn't sent to a CA.

Dispute with CRAs and once 'verified' - demand an investigation from the OC

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=66302#M66302

Also for #1, can a CA and the OC both report the same debt? If not, what can I do?

Yes, they both can - and you can do nothing to stop it - perfectly legal.

Does anyone know if the reporting SOL goes by state debt originated or state where I currently reside?

You're referring to CRTP which goes by DOFD (DOLA on EQ).  This date is set by the OC - and should not change no matter who is reporting the account.

For #3, does the COURT have to prove service? Or does that attorney have to prove service. I don't have access to grandfather's records

No, the court does not have to 'prove' service.  They do have the records and you can use those records to investigate whether service was proper.  Most judges will check for proper service before granting a default judgement - however what appears 'proper' on the surface can be incorrect.  Proper service can be as simple as notifying you at your last known address - but is is one of the easier ways (if inproper) to have a judgement vacated.  Get copies of the court record and have an attorney review them.

[iltph]

GOOD NEWS FOR YOU!!!!!!!

Leasecomm reported that I made over 8 late payments on my lease with them back in 2005. I did some Googling and found they are no longer in business and lost in court to the FTC. Check this out: http://www.ftc.gov/ro/leasecomm/index.shtm

The FTC said they prepared a letter that anybody whose CR has been damaged by this fradulant company can send to the credit bureaus to have it removed. I couldn't find the letter so I emailed the FTC asking if they could send/link it to me.

When I started my business back in 1999, I agreed to a five year contract with them through my merchant account provider. When the five years was up I called and told them to stop charging me, but they said I had to pay as long as I kept my merchant account which was a lie. I stupidly kept paying the $40/month fee so it didn't affect my merchant account. Then I closed my merchant account in 2005 and a few months later they started reporting to my CR. When I called to ask them why they did this they said I had to call them to cancel my agreement with them in addition to the merchant account. (even though I never even contacted them when I initally signed up for the MA) WHAT CROOKS!

Send me a private message if you'd like to keep in touch so we can monitor each other's progress on getting this removed from each of our CRAs.

Message Edited by iltph on 03-04-2008 05:11 PM