01-21-2013 04:42 PM
01-21-2013 05:47 PM
I am hoping they return the debt back to Bank of America. If this happens, do they have to delete their tradeline?
01-21-2013 05:51 PM
If they said they are going to cease collection, that may mean hey will delete. Give it a few days then maybe dispute CRA or have them send letter stating they are no longer collecting on debt and send that letter to CRA's?
01-21-2013 06:32 PM - edited 01-21-2013 06:33 PM
Done! I have disputed all bureaus and filed complaints with BBB and Michigan Attorney General for violation of FCRA for reporting a debt and not accepting payment. I told them to delete all tradelines and return debt to the original creditor!
Keep in mind I did this before with a DV so I have the documentation to prove to them they are reporting the debt. This will blow up in their face now since they wont accept payment! We will see
01-22-2013 07:40 AM - edited 01-22-2013 07:41 AM
Spoke with the supervisor again, they can no longer collect on the debt according North Carolina Statute of limitations nor can they accept payment on the debt? The tradelines will be deleted. So basically now I am stuck with Bank of America reporting a chargeoff debt that was sold to Asset Acceptance. What do I do here with OC since I cant make a payment? Can they buy it back??
Also, if they can no longer collect or report... Then why do I have medical debt that is 6 years old still being collected and reported! Shouldn't they have to remove as well???? According to the Statute? I dont understand their response to this collection. So now I have the BBB involved to help
01-22-2013 07:53 AM
I would ask for something in writing from AA stating they cannot accept payment, are deleting reporting and will not resell the debt.
BOA must report a zero balance and a status date no later than the date of sale to AA. You'll have a CO that will impact your score but it will slowly age off.
Since BOA sold the debt they cannot "take it back". I would send a letter, CMRRR to their CEO asking that since they sold this to a buyer who refuse to take payment they delete their reporting as a GW.
If BOA won't delete make complaints to the Comptroller of Currency and CFPB.
01-22-2013 10:03 AM
Thats the advice I was looking for! Thanks Chasmith. Thanks for looking out for me
01-22-2013 10:18 AM
If my GW doesn't work what would my complaints be to to the Comptroller of Currency and CFPB?
01-24-2013 01:55 PM
Asset Acceptance Deleted all tradelines! In response to BBB they stated that they closed the above mentioned account pursuant to North Carolina Law!
Now all I have is the OC which Bank of America... This will be difficult.
01-24-2013 03:15 PM