I don't know who to beleive or what direction to go...

[cdoll]

What is the name of your state? Illinois.

Hi,
I am so confussed.
Quick background, my credit went back when I got pregnant and the father dissapeared. Prior to 1998 I ripped up all my credit cards because I knew I was getting in to deep. Its now 2005, I have worked VERY VERY hard on repairing my credit, paying back old debts, even ones that I knew would come off my report in a few months. And I did it. I did wonderfully. I am on top of my credit report it all looks good and tomorrow i meet with a bank to finally talk about buying a home. My son is going to be 12 . We need a home of our own.

So what happens next? Yeterday I get a collections letter saying my account was sold to them and I owe 1250. I called, and they were actually very nice. She said it was from a capital one crdit card, opened in 1994, last used in 2000! I didnt have any credit cards after 1998 (until now, which by the way happens to be capital one). I explained that not one of the 3 bureaus even lists a credit card from them from back then. She told me not to sweat it, that they cant put it on the credit report now. and to call capital one.

I did. sure enough i opened a card in 1994, it was charged off in 1997. they have no record of me making any purchase after that. Obviously since the card was charged off.

What do I do? Do I just say "ok, ill pay the collection agency so they don't put on my report?" its not like my situation has changed and i have an extra 1250.00 sitting around. I am in tears because i worked so hard, and now the day before I meet about me and my 11 year old getting our first home, this happens? I dont know what to do.

Can the collection agency put it on my report? please please help. and thanks

 

[Vote4Pedro]

Maybe this will help?

Hello.
I also live in Illinois and seem to be in a very similar situation to yours. Single mother, no father around to help, financial problems many years ago that I have fought to take care of. I'm also looking at buying a house so I've been dealing with clearing up my credit.

The bad news is that they CAN and probably already have put this on your credit report (maybe with one agency, maybe with all 3). The GOOD news is that this account should not be on your credit report at all if it was charged off in 1997.

These are the steps I would take today (or ASAP):
1. Check all three credit bureaus (or go online) and get your credit reports. The 3 bureaus are TransUnion, Equifax, and Experian. You can get one free at "www.annualcreditreport.com". I chose TransUnion and it gave me the most information of all three. Then purchase the other two. You will have instant access to your credit reports and can also dispute any incorrect entries online. If this Collection account is on any of them, dispute it immediately.
2. Call the collection agency (who are they?) and tell them that the debt is past the statute of limitations (5 years from last payment for Credit Cards in Illinois). Let them know that you've spoken to the Credit Card company and you know that the last date of activity on the account was 1997 and that if they have reported this to your credit bureau, they are in violation of the Fair Debt Collection Act (not sure if that's the exact name for the Act).
3. WRITE a letter to the collection agency and send it Certified Return Receipt. You can simply tell them that the debt is past the SOL and is not legally collectible; but I would request a validation of the debt. You can get these letters at www.creditinfocenter.com. If you'd like a sample letter, you can email me at HelenT70@aol.com. I'll give you the one I've recently used for a very similar issue. Also let them know that if they have reported outdated information to a bureau, they are breaking the law. Tell them that if they have reported it to have it deleted immediately. They might tell you it takes 30 days or more, but it doesn't. They can EMAIL a deletion request to all of the credit bureaus THAT DAY. The most it should take is 5 days.

Make sure you make and keep copies of EVERYTHING.

4. If you haven't already, contact the original creditor (capital one) and make sure that the account the collection agency is trying to collect is the same as the one that was charged off in 1997. Get the dates from capital one if you can. If you can have them get it to you in writing, that's even better; but I doubt that they will.

If you need more information, just let me know.

Good Luck,
HT

 

[cdoll]

Thank you for some direction on this.

I had all 3 of my current reports in my hand when I called the collections and that card is not on there. And they said "dont sweat it, its beyond the SOL". But my concern is the collection agnecy will put it on there if is don't pay THEM

I spoke with capital one today, they said it was charged off in 1997. they said i have only had 3 accounts with them. that 1994 one and the two current ones.

ok, I will check out the link you gave me for the letters and if you don't mind i will email you for your sample letter. I will do it now from my aol account. Thanks

 

[Vote4Pedro]

Email

Cdoll,
I'm having trouble accessing my AOL email right now. If you want to post your email, I can send to you from my work account. I just don't want to post my work account on this thread.
Thanks,
HT

 

[cdoll]

ill put my work one to. theres going to be spaces. I just don't want it indexed in any searches.

it is (with no spaces):

(removed email because suddenly I am getting debt stopper spam in that email address that i put here... never received spam to this address before putting it here)


yes, there is a dash in there just no spaces. thanks!

 

[hbreen]

If it is past the SOL they can NOT put it on your credit report and they can try all they want to collect, but they can't put it on your report. They also know that since it is past SOL they can not force you to pay on it.

 

[Ladynred]

Dry your tears, HBreen is right They can NOT put this dinosaur debt on your reports and if they try it, YOU can sue THEM for violating the FCRA in more ways than one !!

The statute of limitations in IL for credit cards is FIVE years. Send CRAP1 a cease and desist letter telling them to get stuffed - the debt is time-barred per IL statute.

 

[Vote4Pedro]

Lady is right, BUT

They cannot legally put it on your credit report, but that doesn't mean they won't. It happens every day. Just keep an eye out and make sure you write that letter.
Good luck,
HT

 

[cdoll]

hi everyone! Thanks!
Man it was a long day yesterday. after I got home i was so mentally exhausted i was so upset by this...

today, in better spirits I called back the collection agency. they verified this time what capital one told me, it was charged of in 97. the 2000 is when they sold it to Portfolio collection Associates. Then recently it was given to this FBCS to collect on it, who is who I am calling.

she suggested if I truly have credit reports that dont show this, to send them in to the collection agency and hopefully that will make it so they wont try to collect on it. (in am on the phone with experian right now cuz i cant log into my account to print my report....grrr)

she told me to fax it and blank out any person numbers like social security. so i will do that. she said put a cover letter.

now I wonder what letter i Use to send along with my credit reports. Do i state they are beyond statute of limitations?

 

[Ladynred]

The thing is, they can still TRY to COLLECT an out-of-statute debt, but the absolutely can NOT put it back on your reports. I would just send FBCS a cease and desist letter and tell them to get lost, the debt is time-barred.

 

[cdoll]

thank you I will fight them.

I feel a little guilty because I suppose if its money i owe, i should pay it back. but this is just such bad timing. i am trying to get a house and tonight I was prequalifed from my bank.