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Got a question, hope someone can answer... Is there a CATCH to the 'pre pay cash gold Discover Card'? Many thanks for any response. Second question.. I do have one last letter to CEO, but I feel it will net the same type of letter I just got (Link provided). |
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Ye, but... you might wanna make sure and wait for another member to confirm my answer as I am not completely sure. Better yet, why don't you call the Discover Card guys because they can answer your Discover Card question better...
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Here's the thing, tho, The way it looks on Ex is it will stay there forever since they do not list DOFD as required nor do they list when the account would fall off...
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That does not mean that EX does not have it in their system though. What I would do is call EX and ask them what the DOFD is on that account. I know EX is not usually helpful but it is worth a shot. Moreover, if that does not work report them to the AG and EX will probably list it after they send it out for dispute..
When I sued EX for the third time we made it to discovery. They sent me EVERYTHING they had which was near 4K pages. EX keeps everything and anything and it is my guess they have that information, but just are not reporting it on your CR... |
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I'll call em on Monday.. apparently they don't have CSR's on weekends lol. 4k pages? No wonder they can't keep anything accurate half the time..
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Yes this was a case that I refused to settle early on in. They tried to bury me in paperwork and I did the same for them! We did settle, but it gave me a keen insight to EX. They say they do not have a particular report from a particular time, that they are only compiled upon request! However, every time you dispute they have your complete report BEFORE AND AFTER. So that was part of my discovery. All my letters to them and the like BBB complaints, correspondence between EX and the AG..all in there!..
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Beli, you could call, but I would say maybe it would also be worth it to send the request for that info in writing so you have it documented? I know you know that. They suck all around...
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Yeah.. I was thinking about that too. I'm gonna wait and see what the phone call yields. I may just.
Back it up with another letter... |
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Yeah, come y'all know how I am with these minions!!!.
A letter will most likely garner nothing more than a form letter back. In this instance I would opine a phone call would get a better result... |
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Good point.. Linx... we all know how famous Experian is for their "Form letters"..
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Just bumping for an update:.
I called Experian and they do have in their records that it was Charged off in 2007, and they're going to send another investigation as to why HSBC is not reporting that. They agreed that to creditors that it looks like a recent charge off instead of one that happened two years ago.. So I should hopefully have it back to where it shows 2007 as a charge off and not 2009.. Thanks Linx.. actually they transferred me to another department, not sure which one(I forgot to ask actually), because I already was in their system that I talked to someone regarding something else lol I did find that amusing.. Funny, I haven't heard a peep from the CA that has this account. I should count myself lucky. I know it was sold.. So my next question, when the accounts sold, do they have authority to delete the OC? I'm thinking not.. but just throwing it out there because I was going to do a PFD when I did eventually hear from em... |
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For HSBC to report the the account has been "purchased by another lender" when in fact Sherman Financial does not extend credit nor offer mortgages as defined by the FCRA, it is a violation in my opinion!.
With all the talk about Factoring Companies that I've read about in the past, I'm amazed that it hasn't been mentioned in this topic.. I'd dispute the comments with the CRA's first, but keep it simple!. Then I'd dispute with HSBC directly (once they've verified the CRA's dispute) while also including some notes that prove Sherman aren't creditors, and for them to list that they sold it to another lender/creditor implies the account is open and that Sherman is willing to extend credit to you.. A few years ago I had a Chevron card, that card was bought out by another creditor/lender (not a CA!) and was listed on my CR's as a second TL but with the new creditor/lender listing it.. Perhaps you try think about this angle of attack.. This post has been edited by. No100player. : 11 January 2010 - 04:28 PM.. |
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The reason Factoring hasn't been mentioned yet is the CA isn't reporting only the OC is..
Okay why would I dispute something saying account was purchased by another lender(they did sell it so I believe that statement is accurate). As I stated, the CA is no where on my credit report.. I'm disputed the fact that they noted that it was a recent CO it wasn't. It was charged off in 2007. Experian agrees with me that when lenders look at my Credit report they'll see the notation "Charged off in 2009) with nothing else there, and make it seem more recent.. I'll i'm trying to do is to get HSBC to report correctly (that it was charged off in 2007, not 2009 when they sold the account). This post has been edited by. Beli. : 11 January 2010 - 04:35 PM.. |
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Well I guess you have NO idea what I'm typing about! Do you even know what a factoring company is, or is it because everyone is so used to abusive CA's using the 'Factoring Comany' title that you just accept a Factoring Company is a collection these days?.
It doesn't matter if the CA is reporting or not. With HSBC stating that the debt was sold to another lender MEANS that the account has been sold to another company who "EXTENDS, RENEWS, OR CONTINUES CREDIT", sounds like the same definition to me!. But also, there is nothing wrong with the OC updating your credit report each and every month that it was just Charged Off, it is their very right to do so.. You'll have to excuse me though. I'm used to talking with people who would rather get the ENTIRE C/O or TL off their credit reports rather than people who would rather keep the C/O on there for another four years.. Edit: I could be completely wrong in my thinking though and that you will win in the lawsuit you want to begin (I still don't even know what legs you have to stand on with that though). Either way, there will be either a precedent that everyone can enjoy or a chuckle from me that you have to pay THEIR attorney fees for bringing a bogus lawsuit against whoever, either way I'll still smile!. This post has been edited by. No100player. : 11 January 2010 - 05:05 PM.. |
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Never looked at it that way before HSBC reports that way on DH's reports. So does Credit One. The collection agency isn't a lender....I would think it could say "Acct was sold" but not to another "lender". Good thought...may use that myself..
Beli, hopefully HSBC won't respond to EXP and then the CRA will delete it...... |
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For your information YES I know what factoring is. I've helped a couple people get Ca's off their report because they were listing it as a factoring account when it really wasn't..
Accounts get sold all the time. When it DOES, the Oc is reports it to the Cra's as "Account sold to another lender" I also believe they have to note the account was sold/transferred bound by FCRA Centex/Linx can correct me if I'm wrong it doesn't mean that the CA is automatically going to list the account as Factoring account.. When and if. Sherman Financial ever report this debt to the Cra's and they list the account as Factoring, then I'll deal with it at that time. Jumping the gun at this point is not going to help in this case.. I've tried getting this account off my credit reports. I cannot send in a dispute disputing the account was sold, because it WAS. Simply because. YOU. Think it may constitute as "factoring" doesn't mean it is.. Since I can't get it off my reports, at least HSBC can do is report it correctly and list DOFD etc which currently they are not doing.. FYI I haven't talked to any lawyers regarding this,yet. I took the advice of Linx and contacted Experian about how Hsbc is not reporting Dofd etc and they are putting an investigation in as to why as it should be listed by FCRA... |
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LoL, too funny. Its hilarious that most people think that Factoring Companies and Lenders are exclusive to CA's in reporting..
Anyhow, I'm not going to deal with this level of stupidity. No worries about replying, I won't be looking for your replies cause I couldn't care less, just like you about my advice!. LoL, with that many posts, I would have expected better!.. |
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I don't know how to say this nicely, but it's clear this thread has nothing to do with CAs, so your factoring company solution is useless. Maybe you could try reading what you type once or twice before you hit reply..
Beli, I have to agree that without the DOFD reporting, you really cannot consider it re-aging. I understand your frustration though. Maybe your latest conversation will EX will at least result in it being correct back to how it was in October... |
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That's what i'm hoping... or as Cj mentioned HSBC doesn't respond and it gets deleted... but well i'm at least hoping at this point it goes back to how it was reporting in Oct...
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Hmm....as already mentioned, you would have to call the CRAs which you are already doing. Just cause the DOFD is not being listed does not mean they dont have it or it hasn't been provided by the furnishers. They have to and most likely did. You would have to ascertain that before thinking about reaging..
About the CO as of 2009, that is not reaging. Thats just the status of your account as of 6/2009. Thats the status of your account as of "insert month here" anytime after 09/2007.. Basically, it was not COed in 2009. Only, the status is a CO as of 2009. Its just that thats when they updated the listing with the CRAs likely as a result of your dispute.. Seems like your DOFD is Jan 2007.. The thing about "purchased by another lender", is that how it's being listed on your third party CBRs or in the reports that you obtained directly from the CRAs. In my view, thats not inaccurate. Sherman financial, gathering that they are the CA here, are lenders as well. Notwithstanding that it wouldnt amount to much, Id still simply raise some fuss for the heck of it. They could change that to "account sold/transfered".. Again though, purchased by another lender does not seem inaccurate and is certainly not an implication that the CA is a factoring company... |
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The purchased by another lender is directly from my credit reports..
After calming down a bit, I do see the point, but as I also pointed out without DOFD being listed to creditors it looks like a more recent CO then what it actually is, which Experian agrees with me, which is why they are going back to HSBC.. As far as Sherman Financial, they haven't sent me anything. No dunning letter,no phone calls etc. No hard pulls on my credit etc. Of course when the actually do contact me, i'll DV them. But seeing as it was "sold" can Sherman Financial get HSBC to delete if I try for PFD? i'm thinking not since Sherman owns the paper and not HSBC... |
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A lot of mine/Dh's seem to do that. It happens most frequently to me when I am disputing something. It DOES look like it's being re-aged, but I don't know that it actually is.....I think they are just trying to say, "As of the date of last reporting, 6/09, it was a charge off" BUT I get what you are saying about how it LOOKS to a new potential creditor..
Even some of the IIB accts we have show that kind of crap...the whole thing is a mess with the CRA!!!! They should ALL follow the same "rules"/guidelines... |
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I'd like to know that as well. HSBC stinks when it comes to deleting etc...
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