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Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
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When do CA begin to put things on your credit report?

[ Edited ]
Hi All,
 
So I have a new issue and am looking for some advice.  Basically, I messed up.  I had tax troubles and sought out the help of JK Harris.  I didn't think my tax assessments were fair o right--for instance one tax levy was the result of a debt being forgiven.  The government wanted me to pay taxes on it.  Here's the gotcha:  I never heard of the company that forgave my debt, and told JK Harris this.  The person I spoke to in my face to face evaluation said they could help me, so I forked over my down payment on the service.  The only thing is they didn't do what they said they'd do.  All they did was redo the taxes to include what the forgiven debt.  I was told they would fight this for me.  I got very upset and stopped making payments on the remaining balance.  I was simply upset with the service and don't think I should pay them anymore money.  They didn't do what they told me they would do. 
 
Now NCO has apparently bought the debt from JK Harris.  I've receivd two letters from NCO regarding this debt, but I've only just opened them.  Because the envelope said NCO, I just assumed it was in regards to another debt I have with them that I was also fighting and knew would be taken off my credit report.  This other debt has in fact been removed.  But now I see the letters were about JK Harris.  Here's the thing:  the JK Harris debt is not listed on my credit report as a collection.  It's not there at all, and NCO has had the account for quite a while.  At this point, I just want the whole thing to go away, and wonder if it's just better to settle before they put the collection on my report.  But then I wonder if paying the collection will cause them to put it on my report anyway.  I can't really do a PFD b/c there's nothing to delete.  Can I do it pre-emptively?  Is NCO even PFD friendly? 
 
The second account in collections that isn't showing up on my credit report is an old Chase account--overdraft fees about $400.  I'd als like to PFD.  The account is currently with Capital Management I believe, but the last letter I got was from a company called Leading Edge back in November.  I thik it's with Capital Management now b/c I get phone messages from them regarding my Chase account.  Anyone ever had any experience with Capital Management?  Know if they're PFD friendly?  But as with the NCO situation above, there's nothing yet to delete? 
 
Any help, advice, comments are welcome.
 
Thanks,
 
Almost_there


Message Edited by almost_there on 07-04-2008 09:40 AM
11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
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Re: When do CA begin to put things on your credit report?

When you want to do a PFD but nothing has reported yet, you just revise your letter to negotiate a Pay for no reporting. You agree to pay the debt in full if they agree to not report the account.
 
I want to say I've read that Capital Management is PFD friendly, you might want to search for them on the forum.
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Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
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Re: When do CA begin to put things on your credit report?

okay, great.  Thanks sidewinder. 
11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)
New Contributor
SDDave
Posts: 65
Registered: ‎03-30-2008
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Re: When do CA begin to put things on your credit report?

Well aside from going to JK Harris in the first place, and thinking that forgiveness of debt income is automatically exempt from taxation, what you should have done is light a fire under JK Harris's butt about the fee and the work they did. Professional services are sometimes negotiable.
TU 709
EQ 708
EX 703
Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
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Re: When do CA begin to put things on your credit report?

Thanks. Though I didn't think forgiveness of debt is automatically expempt from taxation.  This was not my debt in the first place. I had never heard of the company, and never did they try to contact me with any sort of paperwork.  I have a tax lawyer now who is trying to work it out for me with the government, but in the interim, it may start reporting on my credit report, and I don't want that to happen. 
 
I also certainly did express my displeasure with JK Harrs and tried the negotiation route, but it got me nowhere.  Now, I'm just trying to figure out how to prevent them from reporting to the credit bureau and damaging my scores.  But I appreciate your input. 
11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)
Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
0

Re: When do CA begin to put things on your credit report?

Sidewinder are you around?  or anyone else who might be able to help? 

 

Here's the PFD letter I revised to ask for no reporting.  Can someone with experience doing this take a look for me and let me know if I'm missing anything? 


Thanks. I appreciate it. 


Almost_there

 

Re: Collection Account for JK Harris

Amount: $150.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number.

In the spirit of compromise, I am willing to settle this account if you agree to not report this account to any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

 

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($150.00) will be sent to NCO in exchange for no reporting of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

 

NCO agrees to not report any information regarding this account to the credit reporting agencies and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, NCO will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

 

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of NCO. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

 

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

 

Please address all correspondence regarding this account to:

 

You
123 Any Street
City, State Zip

11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
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Re: When do CA begin to put things on your credit report?



almost_there wrote:

Sidewinder are you around?  or anyone else who might be able to help? 

 

Here's the PFD letter I revised to ask for no reporting.  Can someone with experience doing this take a look for me and let me know if I'm missing anything? 


Thanks. I appreciate it. 


Almost_there

 

Re: Collection Account for JK Harris

Amount: $150.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number.

In the spirit of compromise, I am willing to settle this account if you agree to not report this account to any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

 

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($150.00) will be sent to NCO in exchange for no reporting of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

 

NCO agrees to not report any information regarding this account to the credit reporting agencies and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, NCO will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

 

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of NCO. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

 

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

 

Please address all correspondence regarding this account to:

 

You
123 Any Street
City, State Zip



The above in RED should agree.  Other than that, it looks like a pretty standard PFD letter.  Remember not to sign the letter, just type your name.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
0

Re: When do CA begin to put things on your credit report?

Great.  Thanks ByrdMan. 
11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)
Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
0

Re: When do CA begin to put things on your credit report?

[ Edited ]
Be careful about the first sentence in your letter (the fragment containing the "validity of this debt is disputed" ). I used that in a PFD and they responded to it as if it were a DV I'd sent rather than a PFD!!

I REALLY hope YMMV!!!

Good luck!!!

Message Edited by Wonderin on 07-06-2008 09:52 PM

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Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
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Regular Contributor
almost_there
Posts: 231
Registered: ‎04-26-2008
0

Re: When do CA begin to put things on your credit report?

Good point. I'll bold the I am willing to settle part and hopefully that will jump out at them, but I do still want to lead with the validity is disputed.  Thanks!
11/2013 FICO: 517 (TU), 560 (EX), 539 (EQ)
11/2013 FAKO: 593 (TU), 591 (EX), 595 (EQ)

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