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Next hurdle! Equable Ascent Financial.

Moderator Emeritus

Next hurdle! Equable Ascent Financial.

They are a CA which I paid off in November of 2010.  They show themselves as a Factoring Agent.  It shows the balance at $0 Last payment 11/2010 but now show 2 120 days lates for 2/2011 and 3/2011.   Any advice on how to tackle this one?

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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2 REPLIES
Regular Contributor

Re: Next hurdle! Equable Ascent Financial.

I would like to know the answer to this one as well.  I settled an account with them earlier this year.  I was willing to PFD but they wouldn't budge...

Closed on my 1st home on: 11/30/2011
First Guaranty Mortgage Corporation (FGMC)
Starting Score:Equifax: 490 (01/14/2011)Transunion: 498 (01/14/2011)
Current Score: Equifax: 609(07/09/2012) Transunion: 644 (10/14/2011) Experian: 593 Lender Pull (08/22/2011)

Goal Score: 700

Take the FICO Fitness Challenge


Message 2 of 3
Epic Contributor

Re: Next hurdle! Equable Ascent Financial.


Shogun wrote:

They are a CA which I paid off in November of 2010.  They show themselves as a Factoring Agent.  It shows the balance at $0 Last payment 11/2010 but now show 2 120 days lates for 2/2011 and 3/2011.   Any advice on how to tackle this one?


A real life Factoring Company is one who purchases current accounts receivables from a company at a discount.  The Factoring Company gives them the money right away so the other company can finance business.

 

A CA who claims to be a factoring company is not.  They do not buy current accounts, they buy and/or are assigned delinquent accounts to pursue for collections.  Some of them will use the term in order to get away from the rules of the FDCPA.  But, the law knows they are still a collection agency.

 

Who, by the way, cannot put lates on your CR.  Especially if it was paid off in Nov 2010.

 

I would send them a direct dispute under FCRA 623 and dispute the lates for Feb and Mar 2011.

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