topic Re: Cortrust Card/Pinnacle Collections in Rebuilding Your Credit

Cortrust Card/Pinnacle Collections

Anonymous — Thu, 31 Jan 2013 04:55:19 GMT

I received a collection letter from Pinnacle Financial Group. I had stopped paying Cortrust card when my husband was out of work because we needed the money elsewhere. After checking out the credit report, right now it looks like it is just listed as a Charge Off. Pinnacle isn't on there yet. What is the best way to take care of this? I would love to have this not go on my credit report. My credit really got hurt when he was out of work. Can Pinnacle remove the payments to Cortrust? Thanks so much,

Re: Cortrust Card/Pinnacle Collections

Shogun — Thu, 31 Jan 2013 07:20:25 GMT

You need to get a DV out to Pinnacle. Right now you just have the OC reporting, and NO, the CA cannot change the OC's reporting.

Re: Cortrust Card/Pinnacle Collections

Anonymous — Wed, 06 Feb 2013 18:04:11 GMT

@Shogun wrote:
You need to get a DV out to Pinnacle. Right now you just have the OC reporting, and NO, the CA cannot change the OC's reporting.

Why do I need a DV if I know she owes the money? Should we not just pay it and save that step?

Is there anything I can do about what Cortrust has put ont he report?

Re: Cortrust Card/Pinnacle Collections

Shogun — Wed, 06 Feb 2013 18:09:16 GMT

By sending Pinnacle a DV now, it would be considered timely and would bar them from any collection activity which would include posting to CRs. This would give you time to contact Contrust and see if they are willing to accept payment, and ask for a PFD.

Re: Cortrust Card/Pinnacle Collections

Anonymous — Wed, 06 Feb 2013 18:37:26 GMT

OK, I get it now. So basically a DV to Pinnacle and a PFD to Cortrust?

I will get cracking on both right now. Can I post my PFD here for you to check when I am done?

Re: Cortrust Card/Pinnacle Collections

Shogun — Wed, 06 Feb 2013 18:46:49 GMT

Absolutely, just leave off any personal information.

Re: Cortrust Card/Pinnacle Collections

Anonymous — Wed, 06 Feb 2013 18:52:49 GMT

@Shogun wrote:
Absolutely, just leave off any personal information.

Thanks so much for your help. Is something like this good???

Cortrust Bank 

500 E 50th Street N 

Sioux Falls, SD 57104

Re: Account #: ....
Amount: $xx.xx 
To Whom It May Concern:

This letter is about an account listed on Experian Credit Report. The account number I have is the one listed on my Experian credit report – which omits the last few digits.

I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediate deletion of this account from 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.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of hundred and dollars ($xxx00) will be sent to CCS/Cortrust Bank in exchange for full deletion 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.

CCS/Cortrust Bank agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above 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, you 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 CCS/Cortrust Bank. 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:

xxxxx

Re: Cortrust Card/Pinnacle Collections

Anonymous — Wed, 06 Feb 2013 19:03:58 GMT

Just realized my letter from the CA includes everything that the FDCPA requires? Do I still send the DV?

PS Just ralized my printer is out of ink, ugh. Gotta go to Staples tonight!

Re: Cortrust Card/Pinnacle Collections

Shogun — Wed, 06 Feb 2013 19:27:14 GMT

@Anonymous wrote:
@Shogun wrote:
Absolutely, just leave off any personal information.
Thanks so much for your help. Is something like this good???

Cortrust Bank 
500 E 50th Street N 
Sioux Falls, SD 57104

Re: Account #: ....
Amount: $xx.xx 
To Whom It May Concern:

This letter is about an account listed on Experian Credit Report. The account number I have is the one listed on my Experian credit report – which omits the last few digits.

I am requesting that this information be removed from my credit reports following payment of this account. I hope that you will find it in your heart to grant this request. I will provide the amount listed above as considered full payment of this debt if you are willing to delete all information concerning this account to the credit reporting agencies. I thank you for your time and understanding and you may reach me at the address listed above.

Thank you,

Lucky'sMom

A PFD is a type of GW letter and I've always fealt it should be treated as such. Don't be demanding, you can even throw in a sentence or two about how tough the economy or such has been on you. But keep it in a friendly, inviting tone. Just my take on it though.

xxxxx

Re: Cortrust Card/Pinnacle Collections

Anonymous — Wed, 06 Feb 2013 20:46:13 GMT

I am still so confused about the DV letter to the collection agency. The letter they sent me had all the proper information on it that they are suppose to send. Do I sitll send it?

Is the hope that by the time they get the DV letter that the OC has agreed to our terms? I just don't want to pay off the OC and then owe the Collection agency as well.

Again, thanks so much for your help.

Re: Cortrust Card/Pinnacle Collections

Shogun — Wed, 06 Feb 2013 23:44:01 GMT

Yes, send it anyway. If you pay the OC, then the CA has no authority to collect anymore, there would be no debt with them.

Re: Cortrust Card/Pinnacle Collections

Anonymous — Fri, 08 Feb 2013 00:17:35 GMT

Thanks!

Re: Cortrust Card/Pinnacle Collections

Anonymous — Fri, 08 Feb 2013 00:26:56 GMT

@Shogun wrote:
Yes, send it anyway. If you pay the OC, then the CA has no authority to collect anymore, there would be no debt with them.

One more question as I prepare the letter. Does it matter its been a couple of months since they first sent the original letter?

Thanks

Re: Cortrust Card/Pinnacle Collections

Anonymous — Fri, 08 Feb 2013 17:56:43 GMT

Mailed the PFD letter, still waiting on my last question about the DV.

Re: Cortrust Card/Pinnacle Collections

Anonymous — Thu, 18 Apr 2013 14:50:22 GMT

Did you ever hear back from Cortrust? If so, did they end up deleting the file? I have one with them I'm trying to get removed as well.

Thanks!