FMCC profit and loss write off reporting every oth... - myFICO® Forums

dlbomber1 · ‎01-30-2011

So I have a debt that I am considering making a settlement offer yet I am noticing they keep updating my report every other month or so increasing the amount so it looks like a new account. It started off as 10k now its 15k over a period of time. The balance keeps increasing randomly as reported.I have tried to dispute this yet it continues to remain. I have asked for it to be validated yet I never receive paperwork it just continues to remain.

A delinquency has appeared on your credit report. Here are the details of this delinquency:

	Reported By:	TransUnion
	Reported On:	01/30/2011
	Account Number:	4105****
	Amount Delinquent:	15570
	Payment Status/Method of Payment:	Collection/Chargeoff
	Creditor's Name:	Profit and loss write-off
	Industry Type:	Automobile Financing Company
	Address:	POB 542000
		OMAHA, NE 68154

1. - Is this a violation of the fair credit act?

2. - Is there something i can do ?

3. - The amounts are reported differently across all 3 reporting agencies.

Any help on this is totally appreciated.

llecs · ‎01-30-2011

@dlbomber1 wrote:
1. - Is this a violation of the fair credit act?
2. - Is there something i can do ?
3. - The amounts are reported differently across all 3 reporting agencies.

Any help on this is totally appreciated.

1 - Even when CO'd, the lender can continue to update new lates and added interest to the loan balance each month. When they do that, the dates will change on the TL reflecting that a change was made. It doesn't make it report any longer than what it is now and will still fall off as planned. The date that cannot change is DOFD.

2 - I would save up and offer a PFD. Make sure you are past SOL or, if not, make sure you have the $$$ saved to the side before doing anything.

3 - The amounts might be different because the CRAs may be slow at updating. Score-wise, it doesn't matter...add $10k or slash by $10k, the score wouldn't change. I wouldn't fret about that. I'd focus on getting it removed though.

RobertEG · ‎01-30-2011

+1

I would be concerned with a coillection referral by the OC after the CO, thus adding a new CA to your CR.

llecs · ‎01-30-2011

@RobertEG wrote:
+1
I would be concerned with a coillection referral by the OC after the CO, thus adding a new CA to your CR.

...or a judgment.

dlbomber1 · ‎02-12-2012

They have already placed the judgement as well........ Yet I am about to offer a settlement PFD.

FMCC profit and loss write off reporting every other month , amount increasing each time.

FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

FMCC profit and loss write off reporting every other month , amount increasing each time.

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FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

Re: FMCC profit and loss write off reporting every other month , amount increasing each time.

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