Account using your social

[Comet21]

I always enjoy coming to this board and getting great advice. I wanted to know if anyone could give me some options on how to resolve fraudulant accounts on your credit report. These accounts were opened under my name using my social, and to the creditors my responsibility. I was told by the creditors that my only option was to either pay the balances or prosecute the guilty person (My Mom).

True this is a horrible thing my mom has done, but it is really hard for me to send my mom to jail. I have the ability to pay off the balances BOA is $1300, and Discover $3000 but I told them I would not do so unless they remove the deregatory remarks and they told me they could not do this unles it was there fault.

Side note, I was not even 18 when the BOA account was open, I work for the company and I have had all of my accounts there since 1999. But they keep telling me there is nothing they can do.

Does anyone have any suggestions?

[SmartCookie]

When did the 2 accounts default, and how long until they drop from the CBRs?  Was the PFD denial in response to a written PFD offer, or you just asked over the phone?

[Anonymous]

And what is your SOL?  If they get pissy and decide to sue (especially since you work for BofA) yiu may haave to go the fraud route (I know that would be very hard doing this to 'mom').  Not necessarily the best, but perhaps a compromise, would be to wait out the 7-7.5 years.  And tell mom that if it ever happens again she is going to jail - she has had one free ride, there will not be a second.

[Anonymous]

The $1300 is a relatively small amount, and you say you do have the ability to pay it. I would pay it, keeping in mind the creditor is my employer, the guilty party is my mother, and that you have had this  account (presumably in good standing) for 7 years.  You want to keep it. Ditto for Discover.

I'd pay them both - let the dust settle for awhile (3-6 months) and then attempt to GW them both off.

Nobody's perfect, at one time or another most of us probably have done things we are not proud of. We don't know what was going through your Mom's mind. BUT.........in my book........Mom ALWAYS gets a free pass. But, that's just me. 

Can you possibly obtain a new SS number?

[Comet21]

I made the request over the phone. Both of the accounts were opened in 1999 but they are still reporting to two of the agencies.

[Comet21]

That is the problem they are charge off and not in good standing, so even if I paid them off, they have tons of late payments,.

[Anonymous]

Comet - since you know who the OC's are, (no CA's involved yet?) I would pay them off.  In 3-6 months I would send both BoA and Discover a GW explaining again the circumstances that led to this unfortunate issue in the first place.  

The damage is done......however, BoA and Discover are both prime cards. Your relationship with them both is temporarily damaged. Perhaps you can regain their favor in the future.

Time is your friend.

[SmartCookie]

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Comet21 wrote:

I made the request over the phone. Both of the accounts were opened in 1999 but they are still reporting to two of the agencies.

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You will have more luck with a written PFD.  Before that though find out what the DOFD or DOLA is for both and what your state's SOL is... they might be dropping soon without you doing anything... but that's why those dates are needed.