Collection

[corymcd88]

Has anyone heard of Capstone Financial Management in Atlanta, GA? I got a call from them, they are closed until Monday. I pay all of my bills and I don't know. Do they report to the CRA?

[AvadaKedavra]

Any collection agency will report to CRAs if they don't get what is owed. I would find out what account they are trying to get money from and see if it's legit. There are attempts you can make to settle it without them reporting if it's a legit account. Otherwise, you don't owe them anything.

Figure out what they're trying to collect first and go from there. They won't report anything immediately, so you have time to figure it out. Once you have more info, update us and we can provide more info.

[corymcd88]

I can think of no accounts, that is what so strange.

[AvadaKedavra]

I've had this happen to me twice. The first time was collections from an AT&T account that I closed and I got a call from a CA telling me I owed $32. I had no idea that I owed this amount because AT&T sent mail to a wrong address and failed to call me to inform me that I owed them money. Turns out, after I closed my account there were charges that posted after that I wasn't aware of. I of course paid the $32 through the CA and it was settled. Not a spec on my CRAs about it.

The second time I got a letter in the mail from Williams & Fudge trying to collect from an account was that already disputed and removed from my CRs 8 months prior. I sent them a Debt Verification letter via certified mail and they never responded. Again, nothing on my CRs from them.

Point is, that first AT&T account I had no idea I owed anything and it was such a silly amount. Though AT&T didn't properly reach out to me, it was an amount I owed. So it may be something that you not even realize you owe but maybe you do. However, if you don't, then lucky you

Edited post since it was caught in spam filter re: your link. 

[dodgerslv]

maybe its an old debt from many many years ago? If you call them or talk to them make sure you request a DV (debt validation) first that way you will know more info about the collection and actually know if indeed it belongs to you. You will find much more info and help on the "rebuilding your credit" forums.

[AvadaKedavra]

(Posted this before...was it deleted?)

I've had this happen to me twice. The first time was collections from an AT&T account that I closed and I got a call from a CA telling me I owed $32. I had no idea that I owed this amount because AT&T sent mail to a wrong address and failed to call me to inform me that I owed them money. Turns out, after I closed my account there were charges that posted after that I wasn't aware of. I of course paid the $32 through the CA and it was settled. Not a spec on my CRAs about it.

The second time I got a letter in the mail from Williams & Fudge trying to collect from an account was that already disputed and removed from my CRs 8 months prior. I sent them a Debt Verificatino letter via certified mail and they never responded. Again, nothing on my CRs from them.

Point is, that first AT&T account I had no idea I owed anything and it was such a silly amount. Though AT&T didn't properly reach out to me, it was an amount I owed. So it may be something that you not even realize you owe but maybe you do. However, if you don't, then lucky you

[corymcd88]

I hope I can get this corrected before AMEX or PenFed see it if they report it.

[RobertEG]

The minute you speak with them regarding their collection, you have an initial communication with the consumer that triggers their requirement to send dunning notice within 5 days.  You dont have to request it, they are required by statute to provide it.

Thus, give them a return call, triggering their obligation to send dunning notice.

Dunning notice must identify the name of the current creditor and the amount of the asserted debt.

If the OC still owns the debt, the current creditor will be the OC, so ther dunning notice will provide that info.

However, if the debt collector has purchased the debt, dunning notice may only identify themselves, and not the OC.

In such a situation, you can include request for the name of the OC via a DV.

If you send a DV before they have reported, it will impose a cease collection bar, which will block their reporting until they have first provided validation of the debt.

Thus, it  would be prudent to get a DV in the mail ASAP, even prior to returning their call.  You need not wait for actual contact or dunning notice in order to DV.

All that is needed is their mailing address.

[corymcd88]

They are trying too tell me it is valid. They said it will be reported to the CRA. I'm just concerned about PenFed or AMEX to see that and close my accounts.