Jefferson Capital is ruining my life!

[zoe505]

Got denied a mortage loan today because it seems as if Jefferson Capital is reporting monthly on a credit card debt they purchased. It is the only current baddie I have on my report but it keeps getting reported every month to drag my score down....Are they allowed to do this?  I have tried several times to get a PFD from them but they won't budge. My LO recommended that I just settle the debt and move on...which I did.

I even called them again today and told them I would pay the debt in full for a deletion but they were stupid enough to deny this and took a lesser amount for settlement. Hopefully it will report as paid and stop updating every month. Did I do the right thing? Why is a collection agency allowed to report a debt every month? This makes the debt look current even if the last activity was in 2010.

It is really frustrating when you try to do the right thing and you keep getting shot down.

[09Lexie]

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@zoe505 wrote:

Got denied a mortage loan today because it seems as if Jefferson Capital is reporting monthly on a credit card debt they purchased. It is the only current baddie I have on my report but it keeps getting reported every month to drag my score down....Are they allowed to do this?  I have tried several times to get a PFD from them but they won't budge. My LO recommended that I just settle the debt and move on...which I did.

I even called them again today and told them I would pay the debt in full for a deletion but they were stupid enough to deny this and took a lesser amount for settlement. Hopefully it will report as paid and stop updating every month. Did I do the right thing? Why is a collection agency allowed to report a debt every month? This makes the debt look current even if the last activity was in 2010.

It is really frustrating when you try to do the right thing and you keep getting shot down.

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As long as the debt goes unpaid, it can report (assuming its within the 7-1/2yrs reporting period); paying the debt will stop the updating .  How much is the debt? 

[choppa02]

Try GW them... I had a paid CO with them I sent out GW letters once every month, a couple weeks ago I got a response saying they'll delete the tl within 30-90 days maybe about two weeks later the CO was gone

[hitch345]

I filed a complaint with the BBB cause they were reporting my debt incorrectly and they ended up deleting.  A lot of people had that same outcome by using the BBB.  Mine was an issue regarding an Aspire card I had that was included in some ruling.  Within 7 days of filing the complaint it was removed from all three bureaus.

[zoe505]

The debt was for $330 and I paid $240 to settle and they are going to send me a credit card offer to help rebuild my credit under their fresh start program. Did you mail the GW letters to the address listed on their site? Did you address the letters to anyone in particular? I would like to get it removed from my credit report if possible.

[zoe505]

Okay, I am a little excited here... I went searching for the original paperwork that I received when I got this  Visa Gold Salute card. I got this card in 2008 and it was serviced by compucredit...It had a $300 limit and they hit me right away with $150 membership fee and a $30 activation fee...So I am assuming this was included in the FTC ruling against Jefferson Capital and Compucredit.

If so then they have to remove the TL from my credit reports...I just wish I would have known this before I paid them $240 to settle.

I am sending them a letter requesting a removal under the FTC ruling and I am going to file a complaint online with the BBB. I need this gone ASAP so I can get my credit up to buy a home within the next few months. This is the main baddie that has been holding me down. There really is nothing else that is reporting currently negative on my report.

[azguy13]

Hopefully it was included in the ruling. If not, then it is reporting correctly and your only option is to GW. 

How are you going to file a BBB complaint without sufficient evidence that it was included? I would not adivse you file a complaint saying "I don't know if it was, but it could have been involved in the ruling."