Collection/Charge off/settlement advice!

Posted by pamaris (67.64.91.89) on March 01, 2003 at 02:20:33:

Hi,

Situation: In November 2000 I moved from the US to the UK. I had an auto loan with PFCU and a credit card with PFCU. I tried to sell the car before I left but it wouldn't sell. I voluntarily turned it in before I left. They never sent me any collection requests for the auto loan. I also tried to pay the credit card each month but being in another country this was very difficult because I could not get US currency checks and they wouldn't take checks in a foreign currency. I tried to resolve this with them but I just left it after it became too complicated.

Just recently returned from overseas; received credit report. 4 negative items:

A collection account from Southwestern Bell claiming I owe $240. Date of collection account is 4/2002.

A collection account from SBC (Southwestern Bell's new name) claiming I owe $240 with a date of 8/2002.

1. What should I do about this account? It is a duplicate, listed twice, both listings have dates two years more recent than what they are. Also I was not aware that this creditor had attempted any collection of debt. Should I just dispute this with the CRAs? Should I ask SBC to "validate" the debt, then pay it? If the CRA deletes it, will it show up again if it is reported again? The date of delinquency on this account should be 11/2000, though it is listed as 4/2002 and 8/2002. I don't mind paying it but I would want to be sure that the negative info is deleted. The status is "automated account"

next negative: PFCU has listed the auto loan with a balance of $4200 (the balance after auction) as charged off. It is listed with a delinquency date of 2/2003 which is, of course 2+ years off. The credit card balance of $2200 is listed similarly--charged off with a delinquency date of 2/2003.

Thus, negative items are partially true but the dates are wrong. None of these accounts have yet gone to a collection agency, and I have received no attempts to collect any of these bad debts. I have even received statements from PFCU, showing the debt amount but no "balance due". When we were discussing what to do about the account they just said they'd charge it off. I said OK.

If I dispute these items with the CRA will it alert PFCU that I am back in the country and open for business? Would they even care? It seems to me that after 2+ years of no activity on this account they would know that the chances of recovery are slim and none.

However, if they know that I am back in the US in the same state I was in 2 years ago they might change their mind. I don't really know. I would like to correct the date, though, because I want it to drop off at the right time. Also I want to prevent it from going to a CA or being bought. I do know that if I waited two years to deal with it I would be invincible due to the SOL.

What should I do???

Thanks!

Follow Ups:

Post a Followup