Shady collections agency

Anonymous · ‎10-02-2014

I have recently been trying to build my credit. I havent really had any except for an old auto loan, and a current auto loan. No missed or late payments. I do have a collection account showing on my transunion report which is from Nov 2011. I was going to be contacting them soon to discuss getting it paid off. Now I am unsure what to do. I woke up this morning and had an alert on my myfico account. I thought it was just updating, and showing that I had recently received an unsecured credit card. Boy was I wrong! I guess the collection agency decided to repost that old collections account to experian as well. It had only been on transunion previously. My credit report now shows the same listing twice. One on TU from Nov 11. The exact same thing on experian except it say it is from todays date. What can I do? Anything?

From my understanding, if I were to pay them now, the new account that is now on there would stay on there for 7.5 years. If I dont pay them, they will have to remove it in 4.5 years, since three have passed. Is this correct? Or I am wrong? And is the collection agency even allowed to do what they did legally? It seems really messed up that they can do that

Anonymous · ‎10-02-2014

Sounds like you hot a collection trigger with the new credit card. The CA can report to any of the CRA's they want. The CA will stay on until they remove it or 7.5 years from the date of first delinquency. Reporting twice? Is the CA reporting the same info twice on the same CRA? Or is it the OC and the CA?

Anonymous · ‎10-02-2014

It is just the collections agency only. The original creditor never reported anything. The same collection agency reported it once to transunion in november 2011, and just now reported the exact same account, same dollar amount and all, to experian, except it says date reported is today, on the experian onr

Anonymous · ‎10-02-2014

And is it true that if I now pay them, the new mark will stay there for 7.5 years? Since ny paying, I am saying the debt is valid? Or is that wrong

Anonymous · ‎10-02-2014

@Anonymous wrote:
And is it true that if I now pay them, the new mark will stay there for 7.5 years? Since ny paying, I am saying the debt is valid? Or is that wrong

No. It will only stay on for 7.5 years from the time it went delinquent. Paying it will not change that. Making a partial payment will reset your state's Statute of Limitations, which ONLY affects whether you can successfully be sued for the debt.

Contact the CA and try to negotiate a Pay for Delete agreement. Don't accept the debt is yours, just say you are willing to pay to make it go away completely, and ask for written confirmation of any agreement before paying it. If they balk the first time you ask, try again in a few days - sometimes it takes many tries before getting someone willing to do it.

Anonymous · ‎10-02-2014

The collection account is for only $550. Do you think i would be at all successful trying to get Pay for Delete for such a small amount? Considering they would now have to do it for 2 of the credit reporting agencies.

Thank you people for replying. Much appreciated.

MrCrabs · ‎10-02-2014

I got a PFD for $694, I think they'll be glad to do it just to get the money.

Anonymous · ‎10-02-2014

@Anonymous wrote:
The collection account is for only $550. Do you think i would be at all successful trying to get Pay for Delete for such a small amount? Considering they would now have to do it for 2 of the credit reporting agencies.

Thank you people for replying. Much appreciated.

i would try it. The worst they can say is no. More than likely they will be willing to work with you. Make sure to get everything in writing before you pay anything. You might want to check the third CRA to make sure they didn't put it on there too.

Anonymous · ‎10-02-2014

PFD works on any $$ amount. Doesn't matter $20,$100,$25000.
Search thus forum for success stories with this particular CA. Offer PFDm trying different contacts (email, phone, mail)
Good luck