Getting screwed

[jarablue]

I had a credit card, well two credit cards vervant and milestone. And I'm trying to get the 2016 and 2017 entries that are derogatory removed. After all the work that I have done they eventually contacted me this morning stating oh by the way we actually reported your status wrong to the credit reporting agencies and we're going to be updating that today. Currently it was shown is closed and they noticed that and they're going to now change it to charge off. And the debt collector they sent the debt to does not have the debt. So basically I did all of this work for them to call me and say oh we're sorry we incorrectly was reporting your debt to the credit reporting agencies and now since you contacted us in good faith to pay off your debt we're going to hurt you even more by correctly reporting your debt in a more negative manner. I am not sure what to do oh, I am trying my best to fix my credit and after all is said and done they are now changing the report status to something even more hurtful than before. Basically Genesis card systems is now changing it from closed zero balance to charge off with the current balance. But yet they don't own that debt and they told me that that belongs to Windy City Capital Management and the number that they give me goes directly to Plaza Associates who tells me I don't they do not own the debt. What can I do here? The original debtor is now updating the status to something more hurtful but yet they don't own the debt? And they're going to refresh this entry currently on my credit report so it stays for another seven years? ***Mod Cut - Not here*** Consumers in this country who are trying to repair their financial damage are getting screwed.

[jarablue]

Is this legal that they can do this? I should not even have attempted to try and fix my credit if they were going to refresh the score to the current date with a new status of charge off. ***Mod Cut - Not here***  Instead of the Charges dropping off from 2016 and 17, now the entry is going to be refreshed at 2022 with a new status of charge off instead of closed. Is this is how the credit industry and Corporate America help people that want to fix their Financial Health? All I'm trying to do is pay off the debt and what Genesis card systems people are doing is refreshing it with the new status starting at 2022. What can I do here? ***Mod Cut - Not here***  It's unbelievable. When all I'm trying to do is pay my debt in full. The funny thing is they're refreshing their status to what their original debt closed at but are giving me false information as to who owns the debt, how I could pay it off or where it even exists? The debt collectors that they gave me, does not own the debt. Which is Windy City Capital Management / Plaza Associates. So basically I started this whole journey to get these two entries removed and all that happened was they realized they need to update their entry to a even worse status than what was being reported currently and then they're telling me Oh we sold your debt to Windy City Capital Management / Plaza Associates when I reach out to them they have no clue about that debt. So am I in limbo here what am I supposed to do?

[jarablue]

Thanks for the help!

[OmarGB9]

No it wouldn't restart the 7 year clock. It'll still fall off 7 year from original DOFD. And yes it's legal for them to update and report correctly. It's unfortunate that they had been reporting incorrectly all this time, and while it was benefitting you, it was still incorrect. It's also unfortunate that you inadvertently brought that fact to their attention by trying to pay off your debt. I applaud you for trying to do so, but unfortunately there isn't much to be done here other than pay and put it behind you. At least it won't keep updating after it's paid, and your score will eventually recover somewhat.

[pizzadude]

Hi @jarablue , I've edited your posts above for language.   Going forward please keep it "G" rated here at MyFICO. 

[jarablue]

Sorry for the language, thanks for the help. So basically I shot myself in the foot by trying to be a good person and pay them the money I owe them. Now the messed up part is I have no clue who owns the debt. Because the debt collector that they said they sent it to doesn't own the debt. I can totally see how trying to repair your credit can shoot you in the foot. I think this will be a lesson learned. I didn't know by trying to pay someone money I owe them it would turn a backfire on me. Oh well that's the financial burden We Carry in the world today.

[jarablue]

Well the thing is I would like to pay my debts for my emotional benefit knowing that I'm clean and a Brennan always pays his debts even though I never starred in the show Game of Thrones. Is there anyway I could find out who owns the debt? Because Genesis card systems is telling me Windy City Capital Management owns the debt but yet when I call them they tell me we don't own the debt.

[Ceewin]

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@jarablue wrote:

Well the thing is I would like to pay my debts for my emotional benefit knowing that I'm clean and a Brennan always pays his debts even though I never starred in the show Game of Thrones. Is there anyway I could find out who owns the debt? Because Genesis card systems is telling me Windy City Capital Management owns the debt but yet when I call them they tell me we don't own the debt.

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Hi!  WOW your situation truly is unfortunate.  Based on what I've read, all credit reports contain names and addresses of the CA who adds info to your report.  I think it's time to callback and either (1) ask to speak to a Supervisor -OR- (2)send a letter ( via CMRR-Certified Mail Return Receipt) requesting that information to the CA's name and address listed.  It might be good to include that you're in a position to pay. Be sure to include a copy of your credit report (just the section that applies to this situation-Not the entire report).

Those are two options I would try.  Hopefully, this will get you somewhere and not in circles again.   If you choose to send a letter, don't be surprised if you get a return letter stating the same as what was told to you over the phone or no response at all...but it couldn't hurt to try....especially since you're only trying to find out whom to pay.

[FireMedic1]

The old poke the bear thing. Its great you wanted to pay your debts. You werent s____. Victum of the oops update. This is why we say dont dispute accurate things. Comes back verified and ouch. Stay calm. You could dispute the CA. If they dont own it or no longer have collection authority. They have to delete it. Then you'll know that the OC still owns the debt and go from there.

[jarablue]

Can they be held accountable for reporting the incorrect status for 5 plus years? I heard I can sue them for not correctly reporting my status. It's unreal that I reached out to them, wanting to pay them and they basically said, no, but thanks and by the way you made us realized that we were incorrectly reporting your status, now we are going to hurt you more.

I checked my credit reports. And yes, now there is a collection/charge off entry starting from last month.

So your telling me they can legally incorrecty report something for years? And then, reset the clock and fix their mistake, starting fresh? **bleep**?????!!!

Well well well. I am actually protected from this under the fair credit reporting act. I am contacting my lawyer and resolving this. When honest people get screwed by dishonest people.....no.