topic Re: CA wants tax return info in Rebuilding Your Credit

CA wants tax return info

Anonymous — Sun, 25 Apr 2010 13:50:45 GMT

I sent out a DV letter to a company that bought my second mortgage. They bought it 2/08 and didnt inform me until 10/09. Instead of proving they own the loan, they sent back a letter and a form to fill out about my last two tax returns and household financials. I honestly owe this debt, want to pay and be done, but this seems sketchy. I never had anyone ask for kind of info before. Do you think this is b/c Im dealing with a mortgage and not a traditional charge off acct? Also would be a good idea to ask for a PFD if I decide to accept thier offer?

Re: CA wants tax return info

jeffery581 — Sun, 25 Apr 2010 14:10:08 GMT

"They bought it 2/08 and didnt inform me until 10/09"

That is not right. That should be illegal.

Re: CA wants tax return info

Anonymous — Sun, 25 Apr 2010 15:23:36 GMT

@Anonymous wrote:
I sent out a DV letter to a company that bought my second mortgage. They bought it 2/08 and didnt inform me until 10/09. Instead of proving they own the loan, they sent back a letter and a form to fill out about my last two tax returns and household financials. I honestly owe this debt, want to pay and be done, but this seems sketchy. I never had anyone ask for kind of info before. Do you think this is b/c Im dealing with a mortgage and not a traditional charge off acct? Also would be a good idea to ask for a PFD if I decide to accept thier offer?

It makes no difference when a CA buys, then places an account on your CR. Yes, there should be some guidelines but there isn't.

CAs ask for information all of the time. 99% of that time, it means they cannot validate the debt because they do not have enough information on you. DO NOT send them anything. They also want to see how much you earn to make a decision on how much you will need to pay them. Or they plan on a law suit.

I would send them a second DV letter, clearly addressing that what they sent you was not validation of the debt. They have no time line in which to respond but cannot continue collection activity until they do.

Do you have the money to pay this? When is the actual DoFD?

Re: CA wants tax return info

Anonymous — Sun, 25 Apr 2010 16:05:27 GMT

Im sorry 12/08...my mistake

Re: CA wants tax return info

Anonymous — Sun, 25 Apr 2010 16:18:23 GMT

The DOFD is 9/07, they are reporting me 120+ days past due, but they got ahold of untiil a year later. can they still report this info since they recieved the DV?

I dont have the original 32k...but i have at least 5k. 5k was the amount the origninal holder (lItton) offered before it was sold. If they send back the same info then what? Should I send a stipulation that they will not seek legal action?

I sent out a DV in November (signed for two days later) recieved a letter dated 1/22/10 that they are still processing my request...and still today nothing recieved.

Re: CA wants tax return info

laz98 — Sun, 25 Apr 2010 18:32:39 GMT

don't send them a thing!!!

Re: CA wants tax return info

Anonymous — Sun, 25 Apr 2010 22:13:24 GMT

@Anonymous wrote:

The DOFD is 9/07, they are reporting me 120+ days past due, but they got ahold of untiil a year later. can they still report this info since they recieved the DV?
I dont have the original 32k...but i have at least 5k. 5k was the amount the origninal holder (lItton) offered before it was sold. If they send back the same info then what? Should I send a stipulation that they will not seek legal action?

I sent out a DV in November (signed for two days later) recieved a letter dated 1/22/10 that they are still processing my request...and still today nothing recieved.

Without providing debt validation, they cannot continue collection activity. It does not mean they have to delete the TL. Since it was already on your CR they can update but it can not overshadow your DV request.

The 120 days is the worst delinquency and yes they can report that.

Re: CA wants tax return info

Anonymous — Mon, 26 Apr 2010 00:08:29 GMT

they began reporting to my CR after they were DV'd. How should I settle this?

Re: CA wants tax return info

Anonymous — Mon, 26 Apr 2010 00:09:23 GMT

how should i settle this out, if this is the only way they will come up with an offer. I dont have the 32 in full to pay it.

Re: CA wants tax return info

Anonymous — Mon, 26 Apr 2010 01:11:30 GMT

@Anonymous wrote:
I sent out a DV letter to a company that bought my second mortgage. They bought it 2/08 and didnt inform me until 10/09. Instead of proving they own the loan, they sent back a letter and a form to fill out about my last two tax returns and household financials. I honestly owe this debt, want to pay and be done, but this seems sketchy. I never had anyone ask for kind of info before. Do you think this is b/c Im dealing with a mortgage and not a traditional charge off acct? Also would be a good idea to ask for a PFD if I decide to accept thier offer?

Wait a sec. Is this even a derogatory TL on your CR? Is this company even a CA as you titled it?

Mortgages are notes and notes are a commodity that is activly traded.

If you took a 2nd mortgage with A and it sold it to B, than A will report 0 balance or drop it all together from your CR and B will start to report.

There is nothing wrong with it.

Re: CA wants tax return info

Anonymous — Mon, 26 Apr 2010 01:51:58 GMT

Litton is reporting a 0 balance. Oneal has taken over the loan, reporting to my CR since 1/2010, which is after I sent the DV. I legally owe on this but I dont want to be penalized (pointwise) when we had no agreement to be 120+ days on. I was late with litton, how can Oneal report the same info? And how should I settle this out without sending tax information. Its SOL is 2014, three more years of headache?

Re: CA wants tax return info

Anonymous — Mon, 26 Apr 2010 02:04:05 GMT

@Anonymous wrote:
Litton is reporting a 0 balance. Oneal has taken over the loan, reporting to my CR since 1/2010, which is after I sent the DV. I legally owe on this but I dont want to be penalized (pointwise) when we had no agreement to be 120+ days on. I was late with litton, how can Oneal report the same info? And how should I settle this out without sending tax information. Its SOL is 2014, three more years of headache?

They have taken over the note. It's a closed end loan under the same terms, so, in essence it has the same history.

Not sure, but under the same argument, they are the OC and DV is not in place. However, I would get on the phone and asked them why they are asking for tax info?

Re: CA wants tax return info

RobertEG — Mon, 26 Apr 2010 07:55:55 GMT

I agree with Gordon.

You have Mortgage1 who sold to Mortgage2. No collection reported

Mortgage1 reported a prior 120 late, with a DOFD of 9/2007.

Mortgage2 now owns the debt, and has transferred the 120 day late to their account. Their right.

Mortgage companies selll loans all the time.

They jsut have to provide you notice of who now to send payments to.

There has apparently been no debt collector or posting a CO of CA, so DOFD is totally irrelevant for credit reporting purposes.

You can only DV a debt collector/CA, not an original or assigned holder of the legal terms of the account.

So I see no authority for asserting any lack of FDCPA compliance under the FDCPA as it relates to theri response, or lack therof, to any DV request.]

Having said all that, no, there is no reason to compel you to provide tax returns to them. But they are now your legal mortgage lendor. They are not a CA.

You walk a tightrope. Having prior delinquencies on payment history, you may want to reconsider your cooperation.