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bad credit?!
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Posted by DanaCinTN on February 14, 2002 at 19:40:41:
Hi everyone,
I will do my best to make a long story short in the attempt to find suggestions and help. *Before Christmas 2001, we decided to apply for a 2nd mortgage in order to do some remodeling. We received the loan and as we were signing papers, the loan officer commented on our "almost perfect credit". We asked what she meant by "almost perfect". Her statement was that we had slightly over $300 in bad debt to Sears. We were shocked as we always pay every bill we recieve. So...
*We contacted Sears to try to find out what was going on. We were told that a credit agency now was handling our debt and to contact them.
*Upon contacting them, we were told that we had to pay the $300+ BEFORE they would send us any paperwork telling us exactly what the debt was for. Naturally, we refused to pay anything without first knowing what it was for. Their only other "useful" comment was that they had repeatedly tried to contact us...at an address that we lived at over 16 years ago! (Hello...this is the computer age...and we have received other correspondence from Sears!)
*We called Sears again. Finally, after much persuasion, they agreed to send us a copy of our original receipt, so that we would at least have some idea of what we purchased.
*Received the receipt shortly after Christmas, saying they would consider the matter resolved after 30 days. So I did nothing. I assumed they meant what they said. (The receipt was for a little over $70 for 3 prs. of overalls.)
*Last week, I received a notice from a 2nd collection agency saying we owed $300+, which is due at the end of this month. Naturally, again, I took the initiative, called them and questioned them. The guy I talked to told me that out of the $300+, only approximately $2.50 was interest...all of the rest was the original debt. Wrong again of course. Attempting to mislead the consumer...falsify...whatever. **Any suggestions? The debt was incured about 3 years ago. I *did* buy the overalls and *was* willing to pay the $73 (approximate), but now am so put out that I don't even want to pay that. I probably have spent that much in phone calls. They never contacted me until this most recent letter. Every contact was initiated by me. Is is possible to ignore this and it will just disappear on its own? Is $300 enough to worry about on a credit report? THANKS so much for any help and suggestions!!
Dana C. in TN
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