Next Steps????????

[nursekb]

Situation- I sent a DV CMRR to CA TEWA for a collection amount of $1,675.00 stated to be owed for a pay day loan ( shame on me -over 2.5 yrs ago)

The CA sent back as a validation the contract that was signed between myself and the OC. I called the OC to see if they could pull the collection back and I deal directly with them and pay the original amount due of $400- they state they can not do it -it is no longer in their hands- I asked if the account had been sold/ assigned they could not answer. What should I do next? It has not been reported on any CR as of now.

My second question is I received a deletion letter from a CA that I sent a DV to . The letter for complete deletion from my CR was dated 12/30/2009. Why is it still on my CR. What should I do?

Thank You to anyone who can answer my questions

[LIGHTNIN]

1) The CA TEWA is the signed contract the only thing they sent you?    

 2) It can take up to 90 days for a CA to be deleted. 

[nursekb]

Yes the only information the CA sent back as a validation is the contract between  myself and the OC- nothing else. Is this proper validation?

[Anonymous]

Have you offered an agreement to pay in full or an agreed upon settlement amount in exchange for them not reporting to the CRA?

I would say the OC sold the debt if they can't pull it back and the CA has the original contract. 

As for the other CA not removed yet, have you updated your reports? I know it sounds like a silly question, but many people have subscription services that don't auto update reports. 

As mentioned, it can take 30-90 days. 

[nursekb]

No I have not set up anything I just got the validation a few days ago. I know we are never to call the CA, but I want to beat them before anything shows on my report. Should I call and set up something over the phone and mail a letter or just put it into writing?  I really do not have money to pay the full $1675.00. I could settle for the original amt. of $400.00 What do you think I should do?

And yes I did get an updated report and that CA still shows with a report date of 1/20/2010. But I received the notice for them to delete the account on 12/30/2009.

Thanks for the advice

[Anonymous]

If you were to call, make sure you get the agreement in writing, have the fax it or mail it.

You could also fax them a letter instead of calling. 

Is this within SOL?

[nursekb]

The contract between myself and the OC dates 10/2007 so I am not for sure about SOL. I believe for MIssouri it is 5 years. Please correct me if I am wrong? I will probaly just fax them a letter. So should I settle for the original amount or something different?

[LIGHTNIN]

Hi nursekb,

Before you send or fax a letter, Please check your private messages about Missouri payday loans.

Most states have state laws about payday loans, and how much they can add-on to your original $400.

Click on the yellow envelope upper right to see the letter.

Also if you want,and need help understanding that article,you can cut and paste information into a post here.

I hope it helps, good luck. 

ETA:Going by the DOFD,which i assume is the day the check was suppose to be pick-up.

You are still within SOL,going by you said 5yrs. I thought missouri written SOL is 10yrs.  But either way still withinSOL.

I would not offer a settlement, just make sure you have the money to PIF before sending a letter of faxing anything. 

You have the contract, check the interest plus the fees, to see if the $1275.oo  is correct. it seams huge.

You can contact the Missouri Division of Finance,concumer division   http://finance.mo.gov/cc_contact.php  about payday loans interest

Or  get a Free consult with a lawyer in your area 

Message Edited by LIGHTNIN on 02-04-2010 04:15 PM

[nursekb]

Thank you very much for doing some research for me. I will check with MO dept of finance to make sure this is correct. I will let you know what happens. I know time is of the essence, how can I keep this fom appearing on my CR. Can I send another DV  stating I dispute this amount?