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Established Member
willuw
Posts: 63
Registered: ‎02-06-2013
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Re: Advice needed on a collected debt and interest

Yes, and I have fought with BOA to validate the debt and they were never able to - they kept pushing that it was written off and was out of their hands.

 

I had an attourney even fight with them and he did not get anywhere with them either - he was only able to get them to update with the credit bureaus to quit showing it as a current debt when BOA even admitted the account was closed in 2006 and no payments made since.

 

I am with you on BOA is the problem (I think everyone knows BOA is the problem :smileyhappy:) - and I hate to deal with the CA since they obviously are not running properly - they haven't even tried to collect on it since they took it in over a year - my feeling is because they probably know they wont get anything from me because its not a valid debt and they see I disputed it on all 3 credit reports..

Starting Score: 609 (Feb 1, 2013)
Current Score: 665 Current Debt: $2190 (23.43% Utilization)
Goal Score: 750

Updated: March 8, 2013
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
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Re: Advice needed on a collected debt and interest

Established Member
willuw
Posts: 63
Registered: ‎02-06-2013
0

Re: Advice needed on a collected debt and interest

I have sent disputes to BOA before, but how do I do it under the FCRA?

Starting Score: 609 (Feb 1, 2013)
Current Score: 665 Current Debt: $2190 (23.43% Utilization)
Goal Score: 750

Updated: March 8, 2013
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Advice needed on a collected debt and interest

I've been following the posts between you and guiness and I think there are 2 different issues here.

 

1.  The original bill with BOA and what they stated was an $8,000 debt.  You want to know where this originated from.  I totally understand that and agree with the direct dispute on that.  Now the problem with this is, they've sold the debt and don't have any claims to anything from you now so they aren't cooperating with you.  You just want to know where this debt came from and why so much.

 

2.  Calvary now owns this debt, which when they got it, was $8000 and has doubled in a year.  That's a freaking ridiculous amount, and I'm not totally sure they could even add any interest to it, much less what they are charging.

 

Now, the good news, seems like it's past the SOL, so driving it up so freaking high isn't going to do a lot of good, seems like it would discourage someone from paying.  I'd send them a DV requesting itemization for this debt.


Starting Score: 504

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Current scores after adding $81K in CLs and 2 new cars since July 2013
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Established Member
willuw
Posts: 63
Registered: ‎02-06-2013
0

Re: Advice needed on a collected debt and interest

shogun,

You pretty much nailed it spot on.

 

BOA is the opposite of cooperation.

 

Even on the CA it shows the original debt as 8K but current balance of over 15K - you would think that alone would throw up some red flags? and it has not even been a year - about 9 or 10 months since they supposedly took control of it.

 

The BOA SHOULD be past SOL but they are showing on CR of closing on Jan 2012 which I dont think is accurate but when I disputed it did not change (although on another agency it is a much earlir date)

 

The CA part is showing CURRENT as of January 2013 - is this possible if I have never made 1 payment to the CA? They have reported every month since they took over in 2012 as it being a current debt of over 15k...so no SOL with them...

Starting Score: 609 (Feb 1, 2013)
Current Score: 665 Current Debt: $2190 (23.43% Utilization)
Goal Score: 750

Updated: March 8, 2013
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Advice needed on a collected debt and interest

OK, actually, yes the SOL is still past on those.  The dates you have listed have nothing to do with setting the SOL nor the CRTP of the accounts.  This is done by the DOFD of the account and they cannot change that.

 

The details on it also say: This account is scheduled to continue on record until Jun 2014. This item was updated from our processing of your dispute in Jul 2012.

 

This should put your DOFD around 12/2006 or so.  None of the other dates matter, not when the CA lists the account open, or if they list current, DOLA or anything.  Their DOFD must match that of BOA's DOFD.

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
willuw
Posts: 63
Registered: ‎02-06-2013
0

Re: Advice needed on a collected debt and interest

So what should I do? This item listed as a $15K current debt on all 3 is killing my score.  I have had lendors deny me solely because of this one entry..

Starting Score: 609 (Feb 1, 2013)
Current Score: 665 Current Debt: $2190 (23.43% Utilization)
Goal Score: 750

Updated: March 8, 2013
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Advice needed on a collected debt and interest

Send the direct dispute to BOA and the DV to Calvary.  See what comes back.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
willuw
Posts: 63
Registered: ‎02-06-2013
0

Re: Advice needed on a collected debt and interest

I am not quite sure I completely understand what that means.  I understand if the debt is outside of SOL it can not be collected.  But they are still reporting it as current on all my CR

Starting Score: 609 (Feb 1, 2013)
Current Score: 665 Current Debt: $2190 (23.43% Utilization)
Goal Score: 750

Updated: March 8, 2013
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Advice needed on a collected debt and interest


willuw wrote:

I am not quite sure I completely understand what that means.  I understand if the debt is outside of SOL it can not be collected.  But they are still reporting it as current on all my CR


That's not true.  It can be collected, any debt that is unpaid is collectable, being past the SOL just means it's not possible to take you to court and get a judgement.  And when it passes the CRTP mark, it will be excluded from your CRs, except for the 2 circumstances I told you about earlier.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

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