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Hi All,
I just purchased myFICO scores and my TU score dropped from 733 to 691 due to a new collection! The debt has now been sold to a new CA. The debt has been listed on my EX report for some time now. It's still not yet listed on my EQ report. As I've stated previously, this debt is bogus--from a business school that I attended briefly, and officially withdrew from once I caught onto their shady practices. The school later billed me for another semester of classes I never signed up for or attended. I have no paperwork pertaining to any of this (most likely lost in a move long ago). The school is no longer in business, so I have no idea where to begin in getting any info from the OC or who I could complain to.
My question is, What should I do now? Should I continue to wait for it to fall off? (Estimated to fall off Dec. 2011, according to Experian.) Should I dispute this debt with the CRAs and submit a statement giving my side of the dispute to be included on my reports? Should I contact the new CA reporting this debt and explain why I don't owe this debt and won't pay? (I have not received any correspondence from them as of yet.) Or should I just give in, make payment arrangements to get this thing off my back? (The bill is $3,000 and I don't have the cash to PIF. I really, really don't want to use my credit card to PIF either.) It drives me crazy to pay this bill, but I would pay it if I knew that the matter would be forever settled. It took a lot of hard work to get my scores in the 700's. And now this. I'm not so happy today.
Advice would be very much appreciated. Thanks.
@Anonymous wrote:
Hi All,
I just purchased myFICO scores and my TU score dropped from 733 to 691 due to a new collection! The debt has now been sold to a new CA. The debt has been listed on my EX report for some time now. It's still not yet listed on my EQ report. As I've stated previously, this debt is bogus--from a business school that I attended briefly, and officially withdrew from once I caught onto their shady practices. The school later billed me for another semester of classes I never signed up for or attended. I have no paperwork pertaining to any of this (most likely lost in a move long ago). The school is no longer in business, so I have no idea where to begin in getting any info from the OC or who I could complain to.
My question is, What should I do now? Should I continue to wait for it to fall off? (Estimated to fall off Dec. 2011, according to Experian.) Should I dispute this debt with the CRAs and submit a statement giving my side of the dispute to be included on my reports? Should I contact the new CA reporting this debt and explain why I don't owe this debt and won't pay? (I have not received any correspondence from them as of yet.) Or should I just give in, make payment arrangements to get this thing off my back? (The bill is $3,000 and I don't have the cash to PIF. I really, really don't want to use my credit card to PIF either.) It drives me crazy to pay this bill, but I would pay it if I knew that the matter would be forever settled. It took a lot of hard work to get my scores in the 700's. And now this. I'm not so happy today.
Advice would be very much appreciated. Thanks.
Since your questions are about fixing your credit, I'm moving your post to the rebuilding forum.
Sounds like a school I attended at one time.
Before doing anything that may cost you money, I would file complaints with the BBB, FTV and your states AG office. Tell them exactly what happened and you don't owe the debt.
I would wait for the outcome of their investigations before continuing.
Thanks guiness56. This sounds like a plan, and I'm going to get right on it!
You can probably file all of the complaints online.
They are not stingy in the amount you are able to type. Be as detailed as possible.
Good luck.