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Old charge offs/collections monthly updating! Cap 1 woes! Midland leeches..HELP NEEDED!

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Zorasmiles
Established Contributor

Old charge offs/collections monthly updating! Cap 1 woes! Midland leeches..HELP NEEDED!

Thank you in advance for all replies in reaching a resolution.  I have an old CC(USAA) that was charged off in 01/2008.  During this time I was going through a relocation and kept in contact with the CC holder(USAA) but a deceitful representative took the payments although they had already transferred the account to their "internal collections department".  Once I thought I was catching up and getting a handle on the situation I was informed that it was in collections Smiley Mad  I tried everything in my powers to explain and get it removed from collections without success.  Now for the last 8 months or so, they have been updating the account as "delinquent" and increasing the "amount owed"--although the account has been listed as a "charge off/collections status".  The SOL for Texas is 4 years and has been exceeded.  I was willing to satisfy my debt but after dealing with deceitful practices I decided to let it run it's course....BUT NOW--they are intentionally suppressing my credit score!!!  Researching has not yielded me anything that can help stop the bleeding as they take one final gasp of air before they drop from my credit reportSmiley Sad  I would like to know how to proceed...should I file a complaint through the CPFB???  Or, perhaps there is another avenue to stop the pain??  Since they retain the account to their internal department are they legal in the monthly updating of delinquent and the constant reporting of 30, 60, 90, 120 days late ( I would think not but if I was credit wise I'd not be in this situation)??

 

I am suffering a similar situation with Midland on 2 accounts subject to fall off in 03/2015 and 8/2015.  I have recently sent DV letters (referenced the FCRA and Texas CFR for CC debt) to them as they have been rude and down right deceitful in reporting to the CRA's!!  The clock on those letters are ticking and I sent the DV by CFRRR snail mail.  Midland reports monthly with a $6 or more increase as an update monthly on both accounts.  On one account they reported in the remarks "placed for collection" and the other account they listed in the remarks "Account information disputed by consumer, meets FCRA requirements" after I disputed through the CRA's.   How legal is this tactic to suppress my credit score??  How should I proceed in addressing this if they meet the time frame required by federal and state law?

 

Last but not least, is Capitol 1.  I had a charge off account with them for which was purchased by Midland. I contacted them by phone to verify the DLA.  I was transferred three times, which I assume was an escalation of the call.  I was informed by the first 2 representatives that they could not give me the DLA as all their information was transferred to Midland.  I asked: "How can you list a DLA on my credit reports, if you do not have the information in your system that can be validated?".  The last person I spoke with informed me that they would further research and send out a letter.  A few days later I checked my credit reports and I noticed that they had updated the files as status: charge off  condition:  derogatory  remarks: Charged off as bad debt|Purchased by another lender....but on Equifax and Experian they reported--no late payments but listed as a charge off.    SHOULD I---send a DV letter to them knowing they currently don't have the information??

 

If you've read this completely and can contribute in helping me to resolve my credit dilemma please do.  I might add that I have not been late or missed any payments in the last 4 1/2 years.  Thanks in advance.  These are the accounts that are preventing me from moving forward in a truly positive credit direction.

FICO scores are your calling card to the business world. Build a negative reputation and those doors are hard to open, find that perfect balance of credit responsibility and those doors open when you desire them.
Message 1 of 3
2 REPLIES 2
gdale6
Moderator Emeritus

Re: Old charge offs/collections monthly updating! Cap 1 woes! Midland leeches..HELP NEEDED!


@Zorasmiles wrote:

Thank you in advance for all replies in reaching a resolution.  I have an old CC(USAA) that was charged off in 01/2008.  During this time I was going through a relocation and kept in contact with the CC holder(USAA) but a deceitful representative took the payments although they had already transferred the account to their "internal collections department".  Once I thought I was catching up and getting a handle on the situation I was informed that it was in collections Smiley Mad  I tried everything in my powers to explain and get it removed from collections without success.  Now for the last 8 months or so, they have been updating the account as "delinquent" and increasing the "amount owed"--although the account has been listed as a "charge off/collections status".  The SOL for Texas is 4 years and has been exceeded.  I was willing to satisfy my debt but after dealing with deceitful practices I decided to let it run it's course....BUT NOW--they are intentionally suppressing my credit score!!!  Researching has not yielded me anything that can help stop the bleeding as they take one final gasp of air before they drop from my credit reportSmiley Sad  I would like to know how to proceed...should I file a complaint through the CPFB???  Or, perhaps there is another avenue to stop the pain??  Since they retain the account to their internal department are they legal in the monthly updating of delinquent and the constant reporting of 30, 60, 90, 120 days late ( I would think not but if I was credit wise I'd not be in this situation)?? If you have made those payments recently I would check and make sure TX law does not allow a restart of the SOL in a lot of states making a payment does. If its unpaid they have the right to continue to update it every month until its either settled or CRTP is reached. Filing a complaint will most likely not result in deletion but since they actually deceived you might be able to file one on that basis and get lucky.

 

I am suffering a similar situation with Midland on 2 accounts subject to fall off in 03/2015 and 8/2015.  I have recently sent DV letters (referenced the FCRA and Texas CFR for CC debt) to them as they have been rude and down right deceitful in reporting to the CRA's!!  The clock on those letters are ticking and I sent the DV by CFRRR snail mail.  Midland reports monthly with a $6 or more increase as an update monthly on both accounts.  On one account they reported in the remarks "placed for collection" and the other account they listed in the remarks "Account information disputed by consumer, meets FCRA requirements" after I disputed through the CRA's.   How legal is this tactic to suppress my credit score??  How should I proceed in addressing this if they meet the time frame required by federal and state law? Its legal and nothing you can do about it, its one of the industries most potent weapons to stop you from getting new credit until they are addressed. Now since you are in TX and are using the TX Finance Dept law they must respond to your DV in 30 days if they dont they must delete according to the law. If they fail to reply to your DV and do not delete you would file a complaint with the your states enforcement division of the AGs office.

 

Last but not least, is Capitol 1.  I had a charge off account with them for which was purchased by Midland. I contacted them by phone to verify the DLA.  I was transferred three times, which I assume was an escalation of the call.  I was informed by the first 2 representatives that they could not give me the DLA as all their information was transferred to Midland.  I asked: "How can you list a DLA on my credit reports, if you do not have the information in your system that can be validated?".  The last person I spoke with informed me that they would further research and send out a letter.  A few days later I checked my credit reports and I noticed that they had updated the files as status: charge off  condition:  derogatory  remarks: Charged off as bad debt|Purchased by another lender....but on Equifax and Experian they reported--no late payments but listed as a charge off.    SHOULD I---send a DV letter to them knowing they currently don't have the information?? You do not use a DV with an OC they are only sent to CAs & JDBs. What gets sent to an OC is a direct dispute AKA a Section 623 Dispute. I will let you know that the DoFD is the key date, it sets the clock running on states SOL & CRTP, the DLA is really an irrelevant date.

 

If you've read this completely and can contribute in helping me to resolve my credit dilemma please do.  I might add that I have not been late or missed any payments in the last 4 1/2 years.  Thanks in advance.  These are the accounts that are preventing me from moving forward in a truly positive credit direction.


 

Message 2 of 3
Zorasmiles
Established Contributor

Re: Old charge offs/collections monthly updating! Cap 1 woes! Midland leeches..HELP NEEDED!


@gdale6 wrote:

@Zorasmiles wrote:

Thank you in advance for all replies in reaching a resolution.  I have an old CC(USAA) that was charged off in 01/2008.  During this time I was going through a relocation and kept in contact with the CC holder(USAA) but a deceitful representative took the payments although they had already transferred the account to their "internal collections department".  Once I thought I was catching up and getting a handle on the situation I was informed that it was in collections Smiley Mad  I tried everything in my powers to explain and get it removed from collections without success.  Now for the last 8 months or so, they have been updating the account as "delinquent" and increasing the "amount owed"--although the account has been listed as a "charge off/collections status".  The SOL for Texas is 4 years and has been exceeded.  I was willing to satisfy my debt but after dealing with deceitful practices I decided to let it run it's course....BUT NOW--they are intentionally suppressing my credit score!!!  Researching has not yielded me anything that can help stop the bleeding as they take one final gasp of air before they drop from my credit reportSmiley Sad  I would like to know how to proceed...should I file a complaint through the CPFB???  Or, perhaps there is another avenue to stop the pain??  Since they retain the account to their internal department are they legal in the monthly updating of delinquent and the constant reporting of 30, 60, 90, 120 days late ( I would think not but if I was credit wise I'd not be in this situation)?? If you have made those payments recently I would check and make sure TX law does not allow a restart of the SOL in a lot of states making a payment does. If its unpaid they have the right to continue to update it every month until its either settled or CRTP is reached. Filing a complaint will most likely not result in deletion but since they actually deceived you might be able to file one on that basis and get lucky.

 

I am suffering a similar situation with Midland on 2 accounts subject to fall off in 03/2015 and 8/2015.  I have recently sent DV letters (referenced the FCRA and Texas CFR for CC debt) to them as they have been rude and down right deceitful in reporting to the CRA's!!  The clock on those letters are ticking and I sent the DV by CFRRR snail mail.  Midland reports monthly with a $6 or more increase as an update monthly on both accounts.  On one account they reported in the remarks "placed for collection" and the other account they listed in the remarks "Account information disputed by consumer, meets FCRA requirements" after I disputed through the CRA's.   How legal is this tactic to suppress my credit score??  How should I proceed in addressing this if they meet the time frame required by federal and state law? Its legal and nothing you can do about it, its one of the industries most potent weapons to stop you from getting new credit until they are addressed. Now since you are in TX and are using the TX Finance Dept law they must respond to your DV in 30 days if they dont they must delete according to the law. If they fail to reply to your DV and do not delete you would file a complaint with the your states enforcement division of the AGs office.

 

Last but not least, is Capitol 1.  I had a charge off account with them for which was purchased by Midland. I contacted them by phone to verify the DLA.  I was transferred three times, which I assume was an escalation of the call.  I was informed by the first 2 representatives that they could not give me the DLA as all their information was transferred to Midland.  I asked: "How can you list a DLA on my credit reports, if you do not have the information in your system that can be validated?".  The last person I spoke with informed me that they would further research and send out a letter.  A few days later I checked my credit reports and I noticed that they had updated the files as status: charge off  condition:  derogatory  remarks: Charged off as bad debt|Purchased by another lender....but on Equifax and Experian they reported--no late payments but listed as a charge off.    SHOULD I---send a DV letter to them knowing they currently don't have the information?? You do not use a DV with an OC they are only sent to CAs & JDBs. What gets sent to an OC is a direct dispute AKA a Section 623 Dispute. I will let you know that the DoFD is the key date, it sets the clock running on states SOL & CRTP, the DLA is really an irrelevant date.

 

If you've read this completely and can contribute in helping me to resolve my credit dilemma please do.  I might add that I have not been late or missed any payments in the last 4 1/2 years.  Thanks in advance.  These are the accounts that are preventing me from moving forward in a truly positive credit direction.


 


Thanks Gdale6 for taking the time to respond with solid information.  Sometimes I kind of wish that I've missed something in all the information I've read here on the forums.  Patience, time and rebuilding will be my focus based on the information you've provided.  Thanks again for taking the time to read through my long post and reply.  Definitely happy to move forward with the recovery process.

FICO scores are your calling card to the business world. Build a negative reputation and those doors are hard to open, find that perfect balance of credit responsibility and those doors open when you desire them.
Message 3 of 3
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