topic Re: Chase/Pride Acquisitions/Baker Sanders help! in Rebuilding Your Credit

Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Wed, 01 Feb 2012 01:38:13 GMT

Hello out there- I'm like a lot of everyone on here in that a few years ago, things were all peachy-keen, I had ZERO debt and then suddenly, boom-the woman I bought my house with ran away with a dude, my self-employed income went down the crapper in an atomic death spiral and I went from carrying zero balances to living off my cards. As time went on, I made some bad decisions about how I handled things. Lesson learned. The only thing I have left to tackle is a chargeoff with a Chase visa from a couple of years back to the tune of 26k. The good news is, I have the money and can offer a PFD now and get this taken care of immediately, by writing everyone's friend Jamie at Chase. The bad news is, it seems these Pride Acquisions/Baker, Sanders, et al people have either bought or taken over the debt. For the heck of it, I went to their pay portal and whaddya know, they want a substantial amount more payable through their wwwsite (even though if they did buy the debt, they paid pennies on the dollar for it) What should my course of action be? Write Chase first and offer a PFD? And if so, will it remove these Baker Sanders people off of everything, too? Sorry if this is repetitive, just overwhelmed by all the options. Thanks for your help. I'm ready to get this done.

Re: Chase/Pride Acquisitions/Baker Sanders help!

RobertEG — Wed, 01 Feb 2012 02:17:44 GMT

First take a peek at the last reporting by the OC. If they are now reporting $0 balance, it is a pretty sure sign that they have sold the debt.

If sold, they can no longer accept any payment against the debt, PFD or otherwise. If they still own it and have assigned collection authority to a debt collector, they cannot block the debt collector from reporting their collection to the CRA. If they can and do accept payment, the best they can do is to request the debt collector not to report, or delete their collection if already reported.

Similarly, if you pay the debt collector, they cannot agree to remove any reporting done by the OC.

How old is the DOFD on the OC account, and has the SOL expired?

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Wed, 01 Feb 2012 02:37:17 GMT

EQ has it listed as charged off account transferred or sold. There is a balance date listed as 1/11. Says it's in collection, last reported delinquency 11/10. Past due amt: $0. EX has it listed as 180 days past due, purchased by another lender 12/10, last paid 1/09. TU has nothing listed. Like I said, I'm back on my feet, I'd like to get everything back and up and running and this is the only mar left on my report (other than not having a very active credit file). Just kinda sick to my stomach wondering what these a-holes are gonna try to do...and how I can fight back. As I said, I'm ok with paying the original balance, but these guys are trying to stick another 20k onto it.

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Wed, 01 Feb 2012 09:49:19 GMT

Shamelessly bumping...

Re: Chase/Pride Acquisitions/Baker Sanders help!

pizzadude — Wed, 01 Feb 2012 14:34:47 GMT

Sorry to hear about your situation, but I think you are in better shape than you realize.

Chase has been much better than other companies lately about GW. So I think the opportunity to get their negatives deleted from your CRs are good.

But first you need to deal with the CA, and starting the negociating process. I would start low. Very low.

What is the SOL for credit card debt in your state ? If this debt is out of SOL then your negotiating position is much better.

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Wed, 01 Feb 2012 15:06:11 GMT

I'm in California, so that'd be four years. Not sure where to reach first, whether it's Chase, or to the CA, if I should get a debt collection lawyer...ugh...

Re: Chase/Pride Acquisitions/Baker Sanders help!

pizzadude — Wed, 01 Feb 2012 16:04:19 GMT

Ok what is the DOFD for this debt ? 4 years ago from now is February 2008, is it before or after this date ?

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Wed, 01 Feb 2012 18:13:32 GMT

It's after that. The only data I have is what I wrote earlier in the thread from the 3-in-1 I downloaded from EQ (couldn't download one from MyFico).

Re: Chase/Pride Acquisitions/Baker Sanders help!

pizzadude — Wed, 01 Feb 2012 20:10:47 GMT

Well unless you want to ride it out until the end of SOL ( and hope that they won't sue ), you should probably make some sort of offer to settle the debt. Again, I would recommend starting very low.

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Thu, 02 Feb 2012 17:59:01 GMT

I have no problem doing that whatsoever, I'm just not sure if I should call the CA myself solo, get a debt defense attorney or what...I know I did wrong, I know I handled it wrong, the lesson's been learned and I'm able to make it right and everyone can move on. If I could pay it back to the OC/Chase as 100%, I would, but it seems like that ship has sailed. As a %, how much do people offer for a PFD, generally? Any idea?

Re: Chase/Pride Acquisitions/Baker Sanders help!

pizzadude — Fri, 03 Feb 2012 01:38:24 GMT

@Anonymous wrote:
I have no problem doing that whatsoever, I'm just not sure if I should call the CA myself solo, get a debt defense attorney or what...I know I did wrong, I know I handled it wrong, the lesson's been learned and I'm able to make it right and everyone can move on. If I could pay it back to the OC/Chase as 100%, I would, but it seems like that ship has sailed. As a %, how much do people offer for a PFD, generally? Any idea?

I don't think that you need to get an attorney involved unless there is a court action pending. Have they filed suit ?

You could certainly negotiate a PFD by yourself, but first ~ what correspondance has the CA sent to you regarding this debt ? Have you even sent them a DV letter ?

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Mon, 06 Feb 2012 16:42:00 GMT

The only thing I've gotten from them is a standard "hey, you're in luck, we can negotiate at a substantial savings!" sort of letter. I did call Chase to see if I could pay them directly, but they said they turned it over to these guys. Is there even any point in doing a DV then, if Chase already verified it? I want to do the right thing, but, if I can saw money and get a PFD, then I am all in. That said, should I call them and get things started?

Re: Chase/Pride Acquisitions/Baker Sanders help!

pizzadude — Mon, 06 Feb 2012 17:57:08 GMT

I would start with a DV; sometimes companies can't verify and will pack up and leave your alone for a while. Probably an outside chance in this case, but you have nothing to lose by sending a DV.

If they can validate the debt then you can start the process of negotiating with a PFD request; the CAs "substantial savings" may only be a small discount off the nearly doubled amount that you said they now say you owe, but hopefully you can save some $$$.

Re: Chase/Pride Acquisitions/Baker Sanders help!

Anonymous — Tue, 18 Dec 2012 05:39:51 GMT

I'm bumping this because it's been awhile.

Chase removed the tradeline and so did Baker Sanders, but then suddenly Baker Sanders slapped it back on there and now these folks at BS have started harrassing me again. They also said they won't do a PFD. Not sure what to do now.