Life My credit score

Mosbonian · 06-10-2009, 10:06 PM

Quote:

Originally Posted by Dunit35

They said if I didn't do something by the end of the day they were going to do something about it...what were they going to do?

They made it sound like if I paid it off now it wouldn't hurt my credit but obviously it already did. The date on it said 10-1-08

Wow...a rogue agency.

First of all, depending on their verbage, that could be construed as threatening, which is not allowed under the FDCPA.

Second, advising you that it wouldn't hurt your credit rating if you paid it off now, by some standards could be considered extortion. (You couldn't get 2 attorney's to agree on that interpretation though)

mmaddog
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**Dunit35** · 06-10-2009, 10:10 PM

Quote:

Originally Posted by mmaddog

Wow...a rogue agency.

First of all, depending on their verbage, that could be construed as threatening, which is not allowed under the FDCPA.

Second, advising you that it wouldn't hurt your credit rating if you paid it off now, by some standards could be considered extortion. (You couldn't get 2 attorney's to agree on that interpretation though)

mmaddog
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So...I am clueless on this stuff. What do you recommend I do?

The first lady that called me was very nice but did say it wouldn't hurt my credit if I paid now. The second dude was a dickhead and was the one saying I had to do it now or else...I asked for the lady the third time I called them.

Mosbonian · 06-10-2009, 10:17 PM

Quote:

Originally Posted by Dunit35

So...I am clueless on this stuff. What do you recommend I do?

The first lady that called me was very nice but did say it wouldn't hurt my credit if I paid now. The second dude was a dickhead and was the one saying I had to do it now or else...I asked for the lady the third time I called them.

Ask them the questions about the Right to Cure letter...also ask them to send you supporting documentation for the debt. Let them know that until they substantiate the balance to your satisfaction, then they need to report this as a disputed balance.

mmaddog
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**Dunit35** · 06-10-2009, 10:21 PM

Quote:

Originally Posted by mmaddog

Ask them the questions about the Right to Cure letter...also ask them to send you supporting documentation for the debt. Let them know that until they substantiate the balance to your satisfaction, then they need to report this as a disputed balance.

mmaddog
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They did say something about sending something in the mail about paying it off.

What kind of supporting documentation are you referring too?

I'm lost about this stuff obviously. Sustantiate the balance and what not has me clueless.

Mosbonian · 06-10-2009, 10:32 PM

Quote:

Originally Posted by Dunit35

They did say something about sending something in the mail about paying it off.

What kind of supporting documentation are you referring too?

I'm lost about this stuff obviously. Sustantiate the balance and what not has me clueless.

They are required to send you information that tells you about the balance they are trying to collect. If it's for a gym membership, then there should be a statement they can send you for the balance owed. Make them prove to you that you owe the balance...it's something they are required to do.

Once they have proven that you legitimately owe it...then do as Mr. Flopnuts says, and use that knowledge as a bargaining chip to gain the erasure of the mark on your credit report. And if they agree..GET IT IN WRITING!

Mr. Flopnuts advice is spot-on....all they care about is getting the money. If they have to farm it out to an Attorney their cut goes from 18-25% to more like 10%.

mmaddog
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**Dunit35** · 06-10-2009, 10:36 PM

Quote:

Originally Posted by mmaddog

They are required to send you information that tells you about the balance they are trying to collect. If it's for a gym membership, then there should be a statement they can send you for the balance owed. Make them prove to you that you owe the balance...it's something they are required to do.

Once they have proven that you legitimately owe it...then do as Mr. Flopnuts says, and use that knowledge as a bargaining chip to gain the erasure of the mark on your credit report. And if they agree..GET IT IN WRITING!

Mr. Flopnuts advice is spot-on....all they care about is getting the money. If they have to farm it out to an Attorney their cut goes from 18-25% to more like 10%.

mmaddog
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The problem is that it's automatically being taken out of my debit card tomorrow at some point.

I didn't know what to say to them since it was my first issue with credit problems.

Mosbonian · 06-10-2009, 10:41 PM

Quote:

Originally Posted by Dunit35

The problem is that it's automatically being taken out of my debit card tomorrow at some point.

I didn't know what to say to them since it was my first issue with credit problems.

Since you have given them your debit card and the approval, there's not much you can do at this time...but now you are better prepared in case something like this happens again.

mmaddog
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**Mr. Flopnuts** · 06-10-2009, 10:46 PM

Quote:

Originally Posted by Dunit35

The problem is that it's automatically being taken out of my debit card tomorrow at some point.

I didn't know what to say to them since it was my first issue with credit problems.

You'll have to jump through some major hoops at this point. If they record their calls, and you confirmed that you recognized the debt, told them where you work, and gave them your bank information (Yes your account number can be obtained with your debit card) then you're pretty much stuck. It's going to be on your credit, but it will be reported as paid. It hurts your score, and will be there for 7 years.

If you didn't confirm those things, I'll check this thread in the morning and we can take it from there. You still have options.