I'm sure you guys get these a lot, and I have read a lot of old messages and have learned a lot, but before I proceed with anything I wanted to get some advice about my situation.
I have an unpaid debt with Bank of America. The account was opened on 2001, and the last payment received was in 8-19-2003. I live in California, where the SOL is 4 years. I tried to apply for a loan in May and was declined. The lady gave me a copy of my credit report. In it, the Bank of America debt shows up, as well as the same debt, but several hundred dollars more and under Midland Credit Management. I really didn't know what that means, I didn't think much about it so just let it be.
About a month or so ago I get a phone call from MCM. They claim they bought the debt off Bank of America and now I owe them money. The guy was very insistent and really sounded like he was reading from a script. He tried to get me to agree to set up a payment plan. I told him I didn't want to agree to anything. I didn't know anything about the company and I wasn't about to send money to people I don't know. I told him to give me a week to do some research, make sure the company is legit, and that I would call him a week later. He said that was fine. We hung up.
I came online and did a lot of research and learned this company loves to scam on people. So I never called back. A week later he called and I didn't answer. He's been calling every single day since then. I also received a letter from them saying I agreed to pay them the money and that my first payment was due at the end of the month. I NEVER AGREED TO PAY THIS DEBT. In fact, I told the guy several times not to do ANYTHING until I gave him the okay that I would pay them. I never agreed to pay them. Never. But the letter says I did. The letter is also dated before the phone call was placed, though I received it after the call (however, I don't have any paperwork to prove this except the letter itself).
So I've been reading about them a lot, and learning a little bit about the law, etc. If the last payment on the original debt was 08-19-2003, wouldn't that mean the four years are up? I guess this is the part I'm most confused about. That was the last day of payment, and from what I understand the SOL period starts 30 days after the last payment. Is this correct? It also says that the "Date Rep" is 07-28-2006. What does this mean? And if the four years are up, why is this debt still on my credit report? Right now it's showing up TWICE, once under Bank of America and again under MCM. No wonder I couldn't get that loan.
I guess what I'm most confused about is I don't know if the four years are up or not. The last payment was in 2003, but "Date Rep" (whatever that means) is 2006. Are the four years up or not?
I know I have to mail these people a letter asking them for all the documentation, etc, and it seems they leave people alone after that. But what if I mail that letter and I do in fact owe this money? I'll be screwed. I don't make enough money right now to pay these people. Also, for some reason the original debt was $1,500, but MCM wants me to pay them $1,777.
I want these people off my back. I want my credit to be fixed. I need desperately to move and no one will rent me an apartment because of them.
Any advice you guys can give me will be greatly appreciated.
Message Edited by gobanana on 09-04-2008 03:13 PM
