Trying to contact the original lender

If the creditor has sold the debt to the collection agency, they will not have any more hold in your account. You only need to pay to the collection agency and settle it off.

If the creditor has used an internal collection agency to work on your account, you can then approach to your creditor and seek information about your account.

Firstly, you should check the latest credit report from the three bureaus and see the latest standing of the account.

You can plan your moves accordingly.

Well I received my credit reports fron 2 of the bureaus and my debts not on there. So what you are saying is that I will need to deal with Ellis Crosby and Associates on this?

annmarie0205

I would not deal with ECA period. They are currently under investigation and on their way to court of illegal practices.

I would either wait to see who gets your account next, or find a way to get ahold of E-Payday and see about settling with them.

If the loan company sold this to ECA, then that is who you would have to pay. They would refer you to them anyway.

You mentioned that this is not on your credit report...if it's not then I wouldn't worry about paying till it appears. Or find out who's going to handle it next to avoid that all together...(it being put on there)

So, Mikey what you are saying is, that if a CA is sending you letters and calling you about a debt that is NOT on your CR, they can't do nothing about it?

It would just seem odd to me....that someone is trying to collect on something that isn't there. Sometimes errors can happen and they can be putting the mark on it later in the week.

[quote=annmarie0205]Well I received my credit reports fron 2 of the bureaus and my debts not on there[/quote]

Does this appear on your 3 credit report? It's funny how sometimes things will appear on one, but not the other. As well as credit scoring. They might all be different.

All my reports are the same, these debts are from a few years back. I don't quite understand the sol in MO.

Joe-

Are these from payday loans that you took out years ago. I was under the impression that Ellis Crosby and Associates only dealt with recovering payday loans.

There are places also that may not even report to the credit bureau and just try to collect from you personally.

But I want to make sure I'm understanding...

the letters you are receiving are for a debt concerning a payday loan?

-Mike

Old credit cards.

and this was Ellis Crosby & Associates contacting you?

Problem with old credit cards is, say for instance you had a Discover Card. The item will appear on your credit report, maybe as a charge off-- but then the new collection agency will appear and the amount will be shown.

It throws people off, especially if after a few years that collection agency sells the account again.

-Mike

No, Ellis is not contacting me, NCO is. These cards are back from 95 an 96, but they aren't on my report.

Joe-

When you say these cards are not on your report...do you mean the name of the credit card company, ie Providian, Discover...etc.

or do you mean anything pertaining to the credit card debt.

When you see that Discover Card, for instance, has been charged off...it could have also been sold to an agency.

You mentioned that there was nothing about the debt on your credit report. In any case when someone is trying to collect a debt you should ask for validation. That'll go into more detail (the letter they'll send you) about how the debt came about, where it came from, etc.

-Mike

Mike

There is no company or card on my CR, what they are calling for is an credit card debt back from 95 & 96.
There is no name of a CA on my report either.

Then I suggest you ask for validation of the debt and check about the limitations (timeframe) on collecting for debts in your state. This will be the only way to get them to stop contacting you.

-Mike

Then should I send a SOL letter or a Validation of Debt letter?

Joe,

When you send them a dispute letter, ask them to provide you the following details. These details need to be furnished as per the fdcpa law. We are talking about accounts way back in 1995 and 1996. So, I assume that a collection agency is trying to collect the debt from you.

• The details of the account.
  
  
• All the calculation should be shown of the amount that is owed.
  
  
• Any copies of the papers to be furnished that shows the payment agreement.
  
  
• Provide a verification or copy of any judgment if applicable
  
  
• The original creditor needs to be identified.
  
  
• The Statute of Limitation needs to be proven for the collection of the debt.
  
  
• The license of the collection agency applicable in the state is to be furnished along with the license numbers and Registered Agent
  
  
• Proof of the agreement that the debt collector has purchased the debt or has been hired by the creditor to collect the debt from the debtor as this is the basic contract law.
  
  
• Complete payment history showing the details of the creditors, payment history, amount of the debt, break up of fees/interest should be provided in paper.
  
  
• A copy of the original signed loan agreement between the debtor and the original creditor establishing the debt between both the parties also has to be produced.
  

First of all, I would like to thank all of you, (Roxette,Ben,Mike). Whats happening here is I'm starting to get confused, due to trying to learn to much in a short time. I think I jumped the gun on a debt. I sent a letter of Validation, instead a Dispute letter, and the CA sent the Validation letter back. What has happened here is on another forum where I put on the Transamerica and going to court deal, is I started to wonder if anything else is going on in CR. Since this has been happening I signed up for the score watch with Equifax, paying the 7.95 a month to keep a watch on my CR, and I have 2 disputes going on with Transunion still to this day.

Have you pulled your credit report from the other two bureaus also? You will be more stronger in your approach to TransUnion after the comparison with the other two reports.

Yea I buy all three every 2 weeks and sometimes every week, this has been going on for 6 weeks now.

Then I wish you all the best. Go ahead with your dispute to TransUnion. You have all the valid proof.

Ok, so lets put it this way, say you have a debt from 95 or 96 over a credit card, and you forgot about it which I did. Now they are starting to call me on the phone and not sending me letters. What do I do first, do I send them a dispute or a validation?

This debt is past the SOL period and also past the 7 years reporting time. Legally speaking, it should automatically be removed from your credit file.

Considering the fact that it is past the SOL period, you cannot be forced to pay it. Since it is past the reporting period also, it should be automatically removed from your credit file.

If it is appearing in your credit report, dispute with the bureau and get it removed from your file.

The crux of the matter is that the said entry should not appear in your credit file.

Roxette-

I've once been told that a debt will never go away until paid. I tried saying that the item I was disputing would be gone after 7 years. I had another year to go. The representative stated that they could collect up to 10 years, but even then this is debt that will not go away.

The item has since been paid...

...but I have also been told that when an account gets charged off and sold to a collection agency...it's like opening a new account. The old account does not exsist anymore (say...like Discover). They say because the new owners (say...like BillCollectInc.) are the new account holders and it's new in their system, the calander starts over. Another 7 years can be added. Is this true...

or do all items automatically fall off at 7 years, and I(we) can tell the collection agency the item no longer exsist as a valid debt?

Thanks-
Mikey

Hello
I have been recently contacted by OSI(9-22-05)-they told me they would not accept payments-and that if I did not pay the amount due either in full or a settlement amount then they are going to pursue further actions, I have been reading up on the Fair debt collection act and I understand that after the first initial contact they are required to send a letter of validation to me, they have not. They called me yesterday at work-I told them not to contact me at work and they asked when I would be able to contact them-I did tell them that I may be able to contact them today(9-27-05)-however after doing some more research I feel it may be in my best interest to wait until I receive the letter?
I have all three of my CR reports and not one of them has this credit card listed on it? I also noticed that OSI did a credit check on me, it shows them on my CR as a credit inquiry are they allowed to do that?

Any help would be greatly appreaciated.
Thankyou!

Mike,

Accurate negative information cannot stay in your credit report over 7 years. Bankruptcy stays up to 10 years.

Check the FTC site third question from the bottom.

I hope this will answer all your queries and no matter, the collection agency has purchased the debt and it might be new in their system, but it does not change the dates of your accounts.

Do let me know if further doubts are still hovering around. Anything that is stated in the FTC is legal and should be the priority.

Regards
Roxette