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Contributor
tebs78
Posts: 126
Registered: ‎05-29-2007
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how do you know if they are collecting on behalf or bought the debt?

Okay, maybe this is a dumb question, but I have a few collection accounts on my file and I am blue in the face trying to dispute them. I think they are from my ex (whom I was never married too, but some how his stuff ended up on my credit file). Now how do you know if a debt collector has bought the account for pennies on the dollar or is just simply collecting on behalf of the origional debtor?
 
I don't understand how a company can write off a debt on thier taxes and get credit for it at the end of the year as a loss, but stil sell the debt and take money for the account?
 
Anyway, I am considering using one of those letters offering a settlement. How much should I offer if they have bought the debt?
 
THanks!
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Beacon 5.0 Equifax- 695
Fair Isaac- Experian 01- 0718
Fico Risk Score, Classic 726
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WhatzUrPlan
Posts: 407
Registered: ‎07-03-2008
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Re: how do you know if they are collecting on behalf or bought the debt?

Ok, where did you get your reports?  Directly from the CRA or from a monitoring service such as CCT (Credit Check Total)? 
 
Were these joint accounts?  If not, then they shouldn't be on your report and thus, theoretically, easier to get removed. 
 
The amount you should offer in a PFD (Pay for Delete) can be addressed once you know more information.
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
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tebs78
Posts: 126
Registered: ‎05-29-2007
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Re: how do you know if they are collecting on behalf or bought the debt?

The collections are from medical bills for our daughter, which were set up in his name, because our parenting plan/court order, said he was responsible for them. They were never set up in my name, but when he got married, he had his wife call into the hospital and pretend to be me and "authorized" them to put the bill in my name.  They wouldn't put the bill back in his name unless he authorized it, which he wouldn't. I showed them the court order, etc, but it didn't matter. I have had no luck in getting it off directly from the CRA.
 
I looked at my reports through annualcreditreports.com and through myfico.
 
The collecting agencies are cbu collections and cbo collections. They are nasty a--h---s. My huband and I would like to buy a house and the mortgage company wants them either off or paid.
 
And in general I just would like to know are all collection agencies debt buyers? Have they bought the debt? Or are they simply collecting for the hospital, or credit card company?
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Beacon 5.0 Equifax- 695
Fair Isaac- Experian 01- 0718
Fico Risk Score, Classic 726
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WhatzUrPlan
Posts: 407
Registered: ‎07-03-2008
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Re: how do you know if they are collecting on behalf or bought the debt?

The one thing I can tell you for sure is this is Happy Days' department!  I think I remember her saying they can't sell medical collections to JDBs, but could very well be mistaken about that.
 
You might PM her and give her a link to this thread...ask her to read it.
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Frequent Contributor
WhatzUrPlan
Posts: 407
Registered: ‎07-03-2008
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Re: how do you know if they are collecting on behalf or bought the debt?

I would *think* a court order supercedes a simple phone call from some random female.  Regardless of what they're supposed to do, the CRAs don't always adhere to the FCRA and sometimes need to be "nudged" in that direction.
 
Happy, sidewinder and several others have a great deal of knowledge about medical collections, especially as some of them work in the medical field.
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Frequent Contributor
WhatzUrPlan
Posts: 407
Registered: ‎07-03-2008
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Re: how do you know if they are collecting on behalf or bought the debt?

 
Do those reports give you the option of looking at account details?  If the OC is reporting a 0 balance but the CA is reporting an actual balance, then that usually means they've charged it off, sold it, etc., but I'm not positive whether they can actually sell medical collections.
 
No, all CAs aren't JDBs but some of the "big boys" definitely are.
 
While waiting to hear back from Happy or somebody else more knowledgeable than I, you could search the forum for "medical collections" ~ you'll find a TON of info!

 
I looked at my reports through annualcreditreports.com and through myfico.
 
And in general I just would like to know are all collection agencies debt buyers? Have they bought the debt? Or are they simply collecting for the hospital, or credit card company?



I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
0

Re: how do you know if they are collecting on behalf or bought the debt?

Its simple, really (okay, not THAT simple).

He's in violation of a court order. It's called "Contempt." And NO judge likes that. Not a single one.

Take him back to court and let the judge have at him. And do remember to bring popcorn. You simply can't have a good "beat'em up" movie without popcorn. :smileywink:

Seriously, take him back to court and let the judge deal with him. He'll find that life is MUCH easier when it's spent outside of 4 cinderblock walls.

More than likely, if it's his first offense (and you don't mention his putting his wife up to identity fraud), he'll end up with a few fines, perhaps an evening spent on the county's dime (AKA a nice holding cell for the night), and a serious smack on the bottom.

Which, Darlin', sounds like what he needs. :/

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

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cw81
Posts: 273
Registered: ‎06-30-2008
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Re: how do you know if they are collecting on behalf or bought the debt?

[ Edited ]
Follow the Hipaa process first start out by opting out and deleting your old addresses to the best of your ability then send the pre hipaa letter to the CRA they will have to get all the information required from the OC when you receive the necessary information from the CRA then you send the second hipaa letter TO to the OC either with insert A with bank money orderr to pay it off if its unpaid or insert B if it is paid.


This link explains it more in detail

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=19972

Message Edited by cw81 on 08-05-2008 09:19 PM
Senior Contributor
Wonderin
Posts: 3,494
Registered: ‎05-25-2008
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Re: how do you know if they are collecting on behalf or bought the debt?



WhatzUrPlan wrote:
I would *think* a court order supercedes a simple phone call from some random female.  Regardless of what they're supposed to do, the CRAs don't always adhere to the FCRA and sometimes need to be "nudged" in that direction.
 
Happy, sidewinder and several others have a great deal of knowledge about medical collections, especially as some of them work in the medical field.





Well, yes and no. It's really up to the judge who gave the order to enforce. And trust me, the judge WILL enforce the order.

If she takes him back to court (filing a motion of contempt, I believe, but don't quote me), he will get his butt spanked, but GOOD.

Then HE WILL find it within the "goodness of his heart" to authorize the account to be put under his name.

You'd be surprised what most people will do once they realize exactly how much it sucks to spend the night behind bars. Really.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Frequent Contributor
WhatzUrPlan
Posts: 407
Registered: ‎07-03-2008
0

Re: how do you know if they are collecting on behalf or bought the debt?

and Wonderin' would DEFINITELY be one of the "several others" I was referring to!  What I should have said "one of the resident rock stars will be along shortly to give you some words of wisdom"  :smileyvery-happy:
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato

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