topic Re: Goodwill Pay For Delete Letter Reported As Dispute?? in Rebuilding Your Credit

Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 11:27:42 GMT

I have a charged off Milestone credit card issued by Mid America Bank and Trust. They charged it off in April and sold it to LTD Financial. LTD sent me a letter and I responded to them asking to validate before reporting anything to the credit bureaus and also cease and desist. They responded saying they will contact the original creditor to get the information to validate it. In the meantime, I sent a goodwill letter to MidAmerica asking them to recall the charge off collection and allow me to settle the debt directly with them for payment in full if they agree to remove the tradeline from my credit report. I also sent the check for payment along with my letter. I get a notice from Equifax this morning that the account has been updated to reflect customer disputes as well as them removing all of the payment history but updating the "date reported" to 7/20/2017. So this now looks like it's a brand new charge off. What do I do now?

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 14:32:17 GMT

@Anonymous wrote:
I have a charged off Milestone credit card issued by Mid America Bank and Trust. They charged it off in April and sold it to LTD Financial. LTD sent me a letter and I responded to them asking to validate before reporting anything to the credit bureaus and also cease and desist. They responded saying they will contact the original creditor to get the information to validate it. In the meantime, I sent a goodwill letter to MidAmerica asking them to recall the charge off collection and allow me to settle the debt directly with them for payment in full if they agree to remove the tradeline from my credit report. I also sent the check for payment along with my letter. I get a notice from Equifax this morning that the account has been updated to reflect customer disputes as well as them removing all of the payment history but updating the "date reported" to 7/20/2017. So this now looks like it's a brand new charge off. What do I do now?

Why did you send the payment with the GW letter? Shouldn't you have waited until they agreed to do that before paying them?

I'm goiing to have to do this with one of mine, not looking forward to this.

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 14:34:33 GMT

What I've learned. Never admit it's your debt. Never send a chck. Always dispute get them to send letter that it is indeed your debt. Also you have the right to now what was the process of authorization on their part. If they cant provide this. They have to remove it from your file.

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 14:59:43 GMT

@Anonymous wrote:
What I've learned. Never admit it's your debt. Never send a chck. Always dispute get them to send letter that it is indeed your debt. Also you have the right to now what was the process of authorization on their part. If they cant provide this. They have to remove it from your file.

Good Advice! I am going to do this with the one I have. It's a complicated mess :\

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 15:35:45 GMT

I sent it to the original creditor not the collection agency and put a note on the check that if they cashed it, they will consider my account with them as settled and removed the tradeline from all three credit bureaus. I haven't sent anything back to the collection agency. They're not on my credit report (as of now).

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 16:02:09 GMT

I don't think a restrictive endorsement on a check is legally binding.

Checks can be stamped for deposit or deposited by a clerk without the authority to accept a partial as payment in full.

Re: Goodwill Pay For Delete Letter Reported As Dispute??

Anonymous — Fri, 21 Jul 2017 18:43:06 GMT

I sent the check for full balance of what I owed with the hopes that in goodwill they will recall the charge off and allow me to settle it with them instead of the collection agency

Re: Goodwill Pay For Delete Letter Reported As Dispute??

RobertEG — Sat, 22 Jul 2017 19:24:01 GMT

You are likely to either have a conditional endorsement found to be an unenforceble contract under state law, and if not covered under a specific provision in your state, you are still likely to at least face a prolonged legal battle over the enforceability of any conditional endorsement.

General advice is not to take that tact. Make the offer, and only send payment if/when they have made a firm contract offer of acceptance.

In the posted scenario, it is stated that the debt was sold to the debt collector.

If they sold the debt then the collection authority is not assigned by the creditor, it is based on ownership of the debt.

As such, the creditor has no assignment of collection authority to terminate//recall, and can no longer accept any payment, period.

As for the issue of a reported dispute, they treated your letter as a direct dispute. Contact the creditor and request that they remove notification to the CRA that you filed a direct dispute with them, clarifying that it was only intended as a good-will request.