Credence Resource Management

Anonymous · ‎03-14-2018

I have had collections, and I have a current collection on my credit report. This one, just recently popped up. I know what it is, but it also isn't my debt.

In 2016 I started an LLC, multiple owners. We opened a T-Mobile account. They would not open the account with my personally guaranteeing it due to my credit, but they opened an account for the business with no personal guarantee.

The business failed and was shut down in June of 2017.

Fast Forward to last month and this Credence Resource Management pops up. Now knowing I did not sign a personal guarantee I disputed it.

Now, today, Credence reported to at least one agency that I've missed 2 years of payments. Just to note this is the collection agency, "NOT" T-Mobile. T-Mobile never reported to my Credit Report because they knew they legally couldn't.

This has only appeared on Experian so far but I suspect the others are coming.

Other than just continually disputing it (Just to note this was a whole new report by them to bypass the one that was disputed) what are my options?

Thanks,

Larry

RobertEG · ‎03-14-2018

You have an issue of interpretation of the FCRA regarding a debt that is not primarily for your personal, family, or household purposes, even though you are indirectly, in a business capacity, involved in the debt.

I would file a formal complaint with the CFPB and attempt to get them to make an administrative interpretation.

You might cite FCRA 603(d)(1)(a), and argue that the information is not related to any "personal, family, or household purposes."

The other alternative, after a dispute, is to file your own civil action contesting the inclusion of the non-personal, non-family, non-household purposes information in your personal credit report. The court will then provide their binding interpretation of whether the information is legally reportable to the CRAs.

Anonymous · ‎03-14-2018

I have disputed them already. They popped up around the first of the month suddenly. I had received no notice, etc.... It also added the business address as one of my addresses, which was incorrect as well but I can't dispute that until I win the dispute on this.

I did address them as if they were a Corporate Account in the original disputes because they were under an LLC with a separate tax ID number.

This one, while the others were in dispute, popped on Experian today which means it will likely hit Transunion and Equifax in the next week to two weeks.

And it looks like Experian didn't like what they did. They combined the two and removed any previous payment information from the account. This was done within the last few hours as I was just notified this morning and just opened the dispute a few hours ago.

Credence Resource Management is now listed once, they were listed twice, with the same amount owing (they were both the same amount) but no longer showing over 1 1/2 years of failed payment history as it was.

And then surprisingly at the same time Experian just gave me an 8 point boost to 560.

I'm so confused. lol

Anonymous · ‎10-28-2018

Hi everyone! I have just received the same from Credence and it hit my credit hard! How do I dispute this? Help!

Anonymous · ‎04-28-2019

You have to dispute it with the credit reporting agency it's listed with and they typically list with all three.

Also, if it is directly tied to your credit you will lose the dispute. At the time I acquired T-Mobile for a business they would not allow me to co-sign but they open the account for the business itself.

Because I was not actually listed as a cosigner or a financial responsible party and it was simply the business alone it was not my debt.

As such I was not only able to dispute the debt but I was able to have it removed.

If this had been done differently and I had been a cosigner or listed as a financial responsible party for the debt I could not have done this.

Anonymous · ‎04-28-2019

And to update this again it has now been over a year and it has not reappeared nor has there been any other collection attempt on the debt against me personally. As for against the business which has been shut down was liquidated and bankruptcy was filed I haven't heard since all that was completed.