Wierd Proposition from CA, how to proceed with PFD? Can an OC report me AFTER I settle with a CA?

[Anonymous]

A quick background........

-I had an old Sprint account, balance on it is ~600

-I C Systems (CA) is reporting it on my CR (Sprint is not)

-I sent a PFD to CA, they declined

-I got this bright idea to pay off Sprint directly and then DV IC and I'm told it should get it off (Called Sprint yesterday and they can accept payment)

-I check the mail today and there is a letter from another CA (Allied Interstate)

-They're offering me a settlement amount of ~300, in exchange for which they will not report

What does this all mean?

In my head I'm thinking.......

-Allied has just bought this account and hasn't reported it yet

-If I pay them and they hold their end of the bargain (don't report), I can turn around and DV I C

-Is this correct?

-Or could this be some sort of trick between Allied and I C (Same company?)


.........Again I have the option of paying this in full with the OC for twice the amount and then DV'ing the current CA listed on my CR

What would you do?

Message Edited by bobgr on 02-25-2008 03:58 PM

[Anonymous]

oh and here is the exact wording of the paragraph I'm referring to in their letter

...."On behalf of our client SPRINT PCS, we may report information about your account to the credit bureaus. Late payments, missed payments or other defaults on your account may be reflected in your credit report on or after 40 days from the date of this letter. However if the above-referenced amount is paid within 40 days from the date of this letter we will not report this debt"

Any loopholes/warning flags stand out to anyone?

[Anonymous]

#1  never PFD a CA  until after you get an answer from them on a DV!!!!

I C  sent me a letter stating that they would keep reporting no matter what!  Most of these cell or phone bills reporting by CAs  do not even have a phone #........they are bought past CRTP and may only have a name on it.....the OC does not always turn over any other info.

DV  them & keep after them!

ALSO    they have re-aged on my kids report!!!  watch for that!

Also check to see if they are licensed in your state

Message Edited by HappyDays on 02-12-2008 11:49 AM

[Anonymous]

Thanks Happydays, what does "Re-aging" mean?

Thanks again

[Anonymous]

Re-aging

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2175

[LuvsRetro]

Hi Bobgr:

Do you know the Date of Last Activity or the last paid on account date and/or date of first delinquency?  Is this too old to be reporting?

[Anonymous]

The same thing pretty much happened to me. I had an account with Bank of America that NCO Financial reported and they just sold it to another CA. I called them and told them that this account was on my credit report listing with their info and that if they could remove it because they no longer have the account and I'm making payment arrangements with the other CA. They totally removed it from all 3 agencies! So I would call IC Systems and tell them that they need to remove because it's no longer their account.

[Anonymous]

Another question:

Just spoke with the CA and they are saying that if I pay them the settlement amount ($293), they will not report the debt to my CR as promised BUT there is a possibility that Sprint might turn around around report it as a "Settled Account" on my CR.

Is this even possible?

Sprint is not currently reporting this on my CR to begin with and I don't think they would turn around and report me AFTER I made a payment but I don't know much about Credit reporting practices at these corps..............has anyone ever had an OC report AFTER you settled with a CA?


The CA is saying the only way to ensure this does not happen is to pay what he calls a discounted amount (430) which he claims is not a settlement (He has apparently been authorized by sprint to accept this amount so it would not count as a settlement)

Help appreciated

[Anonymous]

you MUST know who owns this account!!!!  you stated before that Allied bought the account......IF that is correct then IF the OC collects it is illegal!

I C Systems can be very nasty!!!!!!!!   Know your DOFD  DOLA and SOL!!!

Message Edited by HappyDays on 02-25-2008 04:21 PM

[Anonymous]

How do I find out who owns it? I honestly do not know.

Thanks again