Here is an example of how some banks like to violate the law

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MemberSince99
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Here is an example of how some banks like to violate the law

Postby MemberSince99 » Fri Jun 14, 2013 7:17 pm

It's been kind of sticking under my craw lately about the bank that continues to illegally re-age a charged off account from over 20 years ago on my EX report. As I'm sure you all know, under the law, this account should have been off my reports well before 9/11.

In looking at my Credit Secure, I saw how they reported activity in September 2008 - you see an "OK" on that month only, nothing before, nothing since. I obviously did absolutely nothing to the account, and have had no contact with them, so it's pretty obvious they are illegally re-aging it. For what purpose, who knows, that's another issue, and honestly I don't care, my point is, despite that and whatever you may feel about the charge off, they are breaking the law. And since I disputed and they "verified", they can't claim it was only a mistake, it's deliberate.

So I have filed a complaint with the new CFPB, in hopes they can convince these criminals (which they are, that's what people who break the law are) to see the light. If not, I'd really love to find a NACA attorney. Most of them seem not too interested in things like this, but I'm reaching the point I'd drop a couple of grand on a retainer. I don't want this thing still on my report 20 years from now and judging by their actions so far, that is not a stretch.

I have attached a screenshot of the relevant data from CreditSecure showing how they did it, please reference the image for details.
BS.jpg


Again, my point isn't to argue the moral issue of the charge off, but the fact this company is openly violating the law (and like most of arrogant corporate America, they fully expect to get away with it obviously) - that is a moral issue this is a legal issue. And on the legal issue, they are wrong. That isn't in dispute, what is in question here is will they get away with it.....they obviously believe they will.


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Postby MemberSince99 » Mon Jun 24, 2013 1:52 pm

So I heard from this new agency after I filed the complaint about this account being re-aged. They said the bank in question had responded and would be taking care of it within a few days. I was like yeah sure that's what they all say.

But today, I get an email from EX saying the results of my dispute are available. I checked, and the account is deleted.
So quite a shock there.

I can only figure that the banks must be leery of this new government agency as a complaint with the FTC got me nowhere.
Maybe now we consumers have the chance to fight bogus information on our reports. I'd say that is LONG overdue.

Just wanted to share this. In this particular case, at least, filing the complaint with the CFPB did get that account removed.

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Postby DavidNY » Mon Jun 24, 2013 2:42 pm

Congratulations.

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Postby djrez4 » Mon Jun 24, 2013 4:51 pm

Nice. Time to pull the scores again.
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MemberSince99
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Postby MemberSince99 » Mon Jun 24, 2013 9:25 pm

I did, and EX dropped, at least my FAKO did. Should come back when the second Amex backdated account reports.

You're probably wondering well if that's not hurting you why did you dispute it, let them re-age it for eternity if they want to. And my response to that is, what if they decide that in addition to re-aging it, they'd like to collect on it, even though it's many years past statute, so they play hard ball and make it a collections account?
Before you think well that's absurd, they actually did that back when my credit was trashed. It was still past statute then, and the account should not have been on my account, but I got a letter from them about my "new" account, and how I should start making payments on it, and I saw they had put it back on my report. Then I didn't care because my credit was already so destroyed they literally couldn't make it worse. But now that would put a world of hurt on me, and would probably drop my score at least 100 points just like that.

I'd rather just pull the plug on their games and move on.

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Postby flan » Mon Jun 24, 2013 10:23 pm

MemberSince99 wrote:You're probably wondering well if that's not hurting you why did you dispute it, let them re-age it for eternity if they want to. And my response to that is, what if they decide that in addition to re-aging it, they'd like to collect on it, even though it's many years past statute, so they play hard ball and make it a collections account?


They can collect on it for ever. The state statute of limitation over suing you to collect it has expired; that doesn't mean they can't send you a bill, or call you, and ask you to pay the debt because they want you to. You're, of course, entitled to tell them to do creative things with a toilet brush. You both have the same standing to demand they be done...

That's separate issue from re-aging the account, which is illegal.

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Postby rockyrock » Tue Jun 25, 2013 4:18 am

MemberSince99 wrote:I'd rather just pull the plug on their games and move on.


Yes, I agree, every once in a while they need to be put in their place.
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Postby MemberSince99 » Tue Jun 25, 2013 6:12 am

Yeah, I know they can "ask", I can also "ask" them for a million dollars too, but they'd laugh at me.

My response would simply be to send them a letter to not contact me again. If they violate that, it's against the law from my understanding. At that point their option is to sue me, and since the debt is long since time barred (past statute) well good luck with that.

I'm just wanting to avoid them turning that into a collection account on my report and single handedly destroying my credit. I couldn't really care less if they ask me to come and mow the grass of the CEO's mansion every weekend - they can ask, and I can tell them to kiss my behind.

I'm kind of surprised no one has said you have the moral obligation to repay them every penny. Perhaps, but they have the moral and legal obligation to follow the law as well. They did that about as well as I followed my moral obligation, I'd say. So I guess we are even. From what I've read of the law, I had as much right to sue them for this as they had to sue me years ago. Neither happened, time to move on.



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