topic Re: Next Steps???????? in Rebuilding Your Credit

Next Steps????????

nursekb — Tue, 02 Feb 2010 20:58:16 GMT

Situation- I sent a DV CMRR to CA TEWA for a collection amount of $1,675.00 stated to be owed for a pay day loan ( shame on me -over 2.5 yrs ago)

The CA sent back as a validation the contract that was signed between myself and the OC. I called the OC to see if they could pull the collection back and I deal directly with them and pay the original amount due of $400- they state they can not do it -it is no longer in their hands- I asked if the account had been sold/ assigned they could not answer. What should I do next? It has not been reported on any CR as of now.

My second question is I received a deletion letter from a CA that I sent a DV to . The letter for complete deletion from my CR was dated 12/30/2009. Why is it still on my CR. What should I do?

Thank You to anyone who can answer my questions

Re: Next Steps????????

LIGHTNIN — Wed, 03 Feb 2010 15:51:46 GMT

1) The CA TEWA is the signed contract the only thing they sent you?

2) It can take up to 90 days for a CA to be deleted.

Re: Next Steps????????

nursekb — Wed, 03 Feb 2010 21:48:37 GMT

Yes the only information the CA sent back as a validation is the contract between myself and the OC- nothing else. Is this proper validation?

Re: Next Steps????????

Anonymous — Wed, 03 Feb 2010 21:51:47 GMT

Have you offered an agreement to pay in full or an agreed upon settlement amount in exchange for them not reporting to the CRA?

I would say the OC sold the debt if they can't pull it back and the CA has the original contract.

As for the other CA not removed yet, have you updated your reports? I know it sounds like a silly question, but many people have subscription services that don't auto update reports.

As mentioned, it can take 30-90 days.

Re: Next Steps????????

nursekb — Wed, 03 Feb 2010 22:08:58 GMT

No I have not set up anything I just got the validation a few days ago. I know we are never to call the CA, but I want to beat them before anything shows on my report. Should I call and set up something over the phone and mail a letter or just put it into writing? I really do not have money to pay the full $1675.00. I could settle for the original amt. of $400.00 What do you think I should do?

And yes I did get an updated report and that CA still shows with a report date of 1/20/2010. But I received the notice for them to delete the account on 12/30/2009.

Thanks for the advice

Re: Next Steps????????

Anonymous — Wed, 03 Feb 2010 22:11:20 GMT

If you were to call, make sure you get the agreement in writing, have the fax it or mail it.

You could also fax them a letter instead of calling.

Is this within SOL?

Re: Next Steps????????

nursekb — Wed, 03 Feb 2010 23:37:17 GMT

The contract between myself and the OC dates 10/2007 so I am not for sure about SOL. I believe for MIssouri it is 5 years. Please correct me if I am wrong? I will probaly just fax them a letter. So should I settle for the original amount or something different?

Re: Next Steps????????

LIGHTNIN — Thu, 04 Feb 2010 21:15:12 GMT

Hi nursekb,

Before you send or fax a letter, Please check your private messages about Missouri payday loans.

Most states have state laws about payday loans, and how much they can add-on to your original $400.

Click on the yellow envelope upper right to see the letter.

Also if you want,and need help understanding that article,you can cut and paste information into a post here.

I hope it helps, good luck.

ETA:Going by the DOFD,which i assume is the day the check was suppose to be pick-up.

You are still within SOL,going by you said 5yrs. I thought missouri written SOL is 10yrs. But either way still withinSOL.

I would not offer a settlement, just make sure you have the money to PIF before sending a letter of faxing anything.

You have the contract, check the interest plus the fees, to see if the $1275.oo is correct. it seams huge.

You can contact the Missouri Division of Finance,concumer division http://finance.mo.gov/cc_contact.php about payday loans interest

Or get a Free consult with a lawyer in your area

Message Edited by LIGHTNIN on 02-04-2010 04:15 PM

Re: Next Steps????????

nursekb — Fri, 05 Feb 2010 05:06:00 GMT

Thank you very much for doing some research for me. I will check with MO dept of finance to make sure this is correct. I will let you know what happens. I know time is of the essence, how can I keep this fom appearing on my CR. Can I send another DV stating I dispute this amount?