topic Re: Old accounts trying to collect when your rebuilding in Rebuilding Your Credit

Old accounts trying to collect when your rebuilding

Anonymous — Sun, 10 Mar 2013 16:10:20 GMT

has anyone noticed that after you start paying off collection accounts and old accounts and paying off alot of your debts that older accounts ( school account ) they are trying to collect too. I am in the process of paying off all my charge offs and school loans and old credit cards and now i seem to be getting more letters from old accounts from 2009 that I have a balance with them and they will settle..... This is the first I heard that I owe a shool account when I did not go there for 4 years and I have student loans with them. Seems like every old account is coming back because they want my money now lol Im in the gardening stage now. I have an old walmart charge off from 2008 and they wont settle for some reason, the people I spoke too are pretty aggressive, I asked to settle for 50% or more since its old and the guy told me no and to clal them back when i want to pay in full and hung up. Its SOL expires June 2016 so I think ill just wait it off to make it not show current on my credit report. Unless when im applying for mortgage they make me pay it.

Re: Old accounts trying to collect when your rebuilding

Anonymous — Sun, 10 Mar 2013 16:12:29 GMT

Yes, it does seem as soon as you start rebuilding your credit, old CAs and OCs start coming out of the woodwork.

Re: Old accounts trying to collect when your rebuilding

Anonymous — Sun, 10 Mar 2013 16:20:05 GMT

Yes! I'm going through that now too. This breed of collectors seems to be particularly aggressive.

Re: Old accounts trying to collect when your rebuilding

chasmith — Sun, 10 Mar 2013 16:37:49 GMT

There's a simple reason. The CRAs sell lists of people applying for mortgages, for all I know they sell lists of customers paying off COs or collections too. That tells the other collectors you're trying to clean up and encourages them...

You may be able to cut this down by "opting out" for offers through the CRAs.

Re: Old accounts trying to collect when your rebuilding

RobertEG — Sun, 10 Mar 2013 17:02:18 GMT

The reason is that debt collectors, provided they have collection authority, have an express permissible purpose under FCRA 604(a)(3)(A) to receive a credit report if they intend to use the information to collect on an account. If you owe a debt, they have the right to take legitimate actions to further its collection, of which CR access in one.

They are not relying on the separate authority of section 604(c) to receive a list of names and addresses of consumers who have not intitiated a request for credit or insurance, for the purpose of making an unsolicited offer for credit or insurance. That is the only list that the opt-out provision of section 604(c) applies to. Opting-out wont prevent a legitimate debt collector from receiving your credit report.

Re: Old accounts trying to collect when your rebuilding

Annjilique — Sun, 10 Mar 2013 23:07:02 GMT

How often are they allowed to pull your report, and is there other requirements they have to follow after contact with you

Re: Old accounts trying to collect when your rebuilding

Anonymous — Mon, 11 Mar 2013 00:31:45 GMT

As long as the CA has permissible purpose there really is nothing that says how many times they can. I would imagine that once a day would be extreme and maybe not allowed.

After their initial contact they have 5 days to send you a dunning notice.