Please Help, Applied Bank Charge Off

[aubie]

This is my attempt to make a long story short...

I pulled my CR and see where there is a CO put on there by Applied Bank. Before I became a member of this forum, I did an online dispute with EQ. Of course the account was verified. I then sent Applied Bank a letter to verify the debt ( I now know OC does not have to validate). I received a letter today from them stating "We have received your request for validation...we wish to inform you, our records indicated the above cardholder applied for the Applied Bank Card through internet services...in addition the above account was charged off on Nov 2002...therefore the above account will reflect as charged-off...for this reason we are unable to remove the above account". Now I know they don't have to "validate", but what the he$@!!! Now what do I do? The SOL for my state is 4 yrs and this is due to fall off around 6/2009 (per TU Report), so this is WAAAYY pas SOL. Should I send a MOV to EQ of is it too late to do that? This is NOT mine, I have NO idea where this account came from. Or should I just send a PFD?? Please help!!!!

Thanks!!!

[Anonymous]

If you disputed the TL throught EQ..and it came back verified...they DO have to validate...in response to a OC DV letter...I would send the letter again...

[NikJ4]

not for sure if you ever had a cross country bank but that is who we had the charge off with from Applied Bank.

[aubie]

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slyhouse08 wrote:

If you disputed the TL throught EQ..and it came back verified...they DO have to validate...in response to a OC DV letter...I would send the letter again...

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Slyhouse

I did dispute w/EQ and the Tradeline came back as verified! So are saying that I should send Applied Bank another DV? How about Equifax, should I send them a MOV?

Thanks

[aubie]

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NikJ4 wrote:

not for sure if you ever had a cross country bank but that is who we had the charge off with from Applied Bank.

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NikJ4

I NEVER had a Cross Country or Applied Bank Card. This is so very frustrating! Thanks for all your help!

[Anonymous]

Not sure if you tried this already, but you could always call them at the number listed on your CR and explain the situation. Ask to speak to someone in the fraud department.

[RobertEG]

Hi, aubie.

Here is my reading.

A creditor does not usually do a CO until the account is 120-180 days past due.  If they reported the CO in 11/02, then the DOFD that led up to it was probably, at the latest, around mid-2001.  Count 7 1/2 years from that DOFD, and after that it MUST be deleted from your CR..  It is about to die anyway.

Regardless of this, the OC statement they they "verify" the validity of the delinquency is nothing more than a blanket conclusion, and not a factual showing.  You have the right under section 611 of the FCRA to file a dispute directly with the CRA (not the OC), which requries them to do a reinvestigation, and report the results to you.  Forget the OC now, and dispute wth the CRA.

The SOL has nothing to do with credit reporting.  The SOL only sets the period under which, if they bring suit, you can file a motion before the court asserting an absolute defense for dismissal of the suit based on running of the SOL. 

If the SOL has run, and it most assuredly has from mid-2001, and it is also about to drop off your your CR by the end of this later, at the latest, it seems like a lot of needless gut-wrenching!  IMHO, I think they are snowing you, big time.

[aubie]

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RobertEG wrote:

Hi, aubie.

Here is my reading.

A creditor does not usually do a CO until the account is 120-180 days past due.  If they reported the CO in 11/02, then the DOFD that led up to it was probably, at the latest, around mid-2001.  Count 7 1/2 years from that DOFD, and after that it MUST be deleted from your CR..  It is about to die anyway.

Regardless of this, the OC statement they they "verify" the validity of the delinquency is nothing more than a blanket conclusion, and not a factual showing.  You have the right under section 611 of the FCRA to file a dispute directly with the CRA (not the OC), which requries them to do a reinvestigation, and report the results to you.  Forget the OC now, and dispute wth the CRA.

The SOL has nothing to do with credit reporting.  The SOL only sets the period under which, if they bring suit, you can file a motion before the court asserting an absolute defense for dismissal of the suit based on running of the SOL. 

If the SOL has run, and it most assuredly has from mid-2001, and it is also about to drop off your your CR by the end of this later, at the latest, it seems like a lot of needless gut-wrenching!  IMHO, I think they are snowing you, big time.

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RobertEG thanks for the response and information. This is VERY helpful. When I did an initial dispute with EQ and the account came back as 'verified', my score was lowered by 8 points. I'm worried that a dispute will come back 'verified' and lower my score even more. If I dispute, do I send the CR a MOV? I agree with you, that they are "snowing" me and for that I am really ticked off!! I just want this off primarily because this is NOT MINE.

Thanks again for all your help!!!

[Anonymous]

I would call and speak with the fraud department.

Do you have any unusual addresses on your CR or names/bdates?

Make sure you pull your full disclosures from the CRA to see all this other information.

Reports got anywhere else may not include everything.

You can also file police report for ID theft and a ID theft affidavit.

[hoping2rebuild]

Definately call the Fraud dept