Not sure what to do anymore Please help

[Anonymous]

Hello Ive been dealing with a JDB over a personal loan for a bit now and I'm at wits end. Here's what Ive done/investigated:

1)I have disputed the debt with EX(only CRA it shows on). I diputed everything including DoFD as inaccurate.The account was listed as open date 3/1998, status date 12/2005, status open, DoFD as 3/2005, type of loan unsecured. They returned results today that state its been updated to a collection account as of 2/2008. Took a hit to the score because of it.

2)DV'd the JDB and received a copy of the loan contract (not everything that I asked for). Loan states it was a secured loan and included a list of the personal property used to secure it. I immediately called the OC(citifinancial). They told me the loan was charged off in 4/1999 and sold to the JDB in 2000. I asked for documentation to prove date of charge off they said I had to get that from the JDB. (Yeah right)

3)I live in IL so I know Im still within SOL I believe(depends if they see this loan as a written contract(10yr) or promissory note(6yr)).

4)I have called the state Ag's for FL and IL. I reported that the JDB's corporation status is inactive and they are not licensed for collections in either state. They both say that there isn't much they can do because JDB are not considered collection agencies and therefore are not regulated as such.

5)Filed complaint with FTC and was told until the JDB has more complaints they can not do much about it either.

6) I called a consumer lawyer and they say I can file suit for the inaccuracies that are being reported but I am afraid that will just upset this JDB into suing me for what is owed. I have no problem with paying my debts but I do have a problem paying when I am being lied to and about in order to get the money. This debt is way past CRTP and should not even be on my report.

If anyone could give me suggestions on what I should do next, I would greatly appreciate it. I am so tired of this bottomfeeding JDB.

[Junejer]

DV again asking for full media validation. If not received, then send ITS letter. I would also hound citifinancial about the information. I would escalate within the company until I got satisfaction. Once you get the charge off date of 1999, you can dispute with the devil (EX) and get it removed for past CRTP.

[Anonymous]

That is the most ridiculous thing I've ever heard. The AG's office says that this guy isn't a debt collector!? Isn't that place supposed to be RUN by ATTORNEYS!!??

15 USC 1692a

§ 803. Definitions

(6) The term “debt collector” means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another. Notwithstanding the exclusion provided by clause (F) of the last sentence of this paragraph, the term includes any creditor who, in the process of collecting his own debts, uses any name other than his own which would indicate that a third person is collecting or attempting to collect such debts. For the purpose of section 808(6), such term also includes any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the enforcement of security interests. The term does not include— (A) any officer or employee of a creditor while, in the name of the creditor, collecting debts for such creditor; (B) any person while acting as a debt collector for another person, both of whom are related by common ownership or affiliated by corporate control,

if the person acting as a debt collector does so only § 803 15 USC 1692a for persons to whom it is so related or affiliated and if the principal business of such person is not the collection of debts;

(C) any officer or employee of the United States or any State to the extent that collecting or attempting to collect any debt is in the performance of his official duties; (D) any person while serving or attempting to serve legal process on any other person in connection with the judicial enforcement of any debt;

(E) any nonprofit organization which, at the request of consumers, performs bona fide consumer credit

counseling and assists consumers in the liquidation of their debts by receiving payments from such

consumers and distributing such amounts to creditors; and (F) any person collecting or attempting to collect any debt owed or due or asserted to be owed or due another to the extent such activity

(i) is incidental to a bona fide fiduciary obligation or a bona fide escrow arrangement; (ii) concerns a debt which was originated by such person; (iii) concerns a debt which was not in default at the

time it was obtained by such person; or (iv) concerns a debt obtained by such person as a secured party in a commercial credit transaction involving the creditor.

[Anonymous]

When I called citifinancial and asked for documentation they kept refusing and when I asked for a supervisor or someone higher up at Citifinancial the lady(Tracy) said "Please hold for a supervisor" and then without my knowledge transfered me to the JDB whom I had a conversation with giving my name address and such before realizing something was off and asking a second time for his name and exactly who he was before he told me he was from the JDB. I am very cautious about calling Citifinancial after that episode.

I was floored when the Ag's office told me that. They said "JDB's essentially are the new OC's of the account and have the same rights as the OC in regards to the debt in question". I found this a little hard to believe myself because I just recently read an article about the Ag of IL passing/ammending the law in IL to include JDB in the definition of a collector due to the rise of the practice of buying debts for pennies on the dollar and IL residents not having much legal protection against the JDB's.

Message Edited by litchloath1 on 02-20-2008 11:54 AM

[Anonymous]

Sorry, but what is ITS letter?

[Anonymous]

ITS is Intend To Sue

There is  a list of common abreviations used on this site. It is very helpful in understanding what is being said.

[Anonymous]

Thank You, I do have one of the list, I guess old tho. Thank you  again

[Anonymous]

So is an unsecured loan from Citifinancial a promissory note or a written contract? 

Maryland,   3 years for written,  6 years for notes

Either way, I'm within SOL.  LVNV sent a letter today, gonna DV tomorrow.  If they validate, I will try to deal with Citifinancial to reopen the loan and make the payments.

[Anonymous]

Sorry can you please guide me on where to go for the list?

Thanks....

[Junejer]

AZravens and Naddae07, just an FYI, this is a one year old thread, so don't expect an answer out of the members who posted on this thread.

Abbreviations.

If you have specific questions, please start your own thread and you will get more responses that way.

GL