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Sherman acquitions
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Posted by Johnny
(64.12.96.205) on July 12, 2003 at 15:42:29:
Can a CA do inquiries and hit you each and every month on your CR? Or is there A time limit between each inquiry and remark that they add to the credit report. This one had started with Benifical(not reported as charged off) and has been sold to Sherman Acuitions and they have inquiries each and every month for the last 13 months. Along with a few bad marks of being past due. To me that is deliberately defaming or destroying someone’s credit. Is doing that many inquiries legal?
Also, there is no connection on the credit report to link it to benifical to show it is that account. Example...no account # of benifical's, no naming benifical ect...it just looks as if it is another account that went into fault. So if someone is to look at my credit report it looks as if I have two delinquent accounts. Is that legal?
Please help me understand this...You have an account with a creditor. You get behind for whatever reason; the creditor sells the account to a CA. Now how is that CA legally allowed to put remarks onto your credit report when they bought the account "with their own money" not knowing if they will ever get it back. And you have never made an agreement with them. Or is it that when these companies buy delinquent accounts they buy them with the terms that you agreed upon when signing? And if that were the case if I requested that information would they have to furnish it. If they don't how could there be an agreement between them and myself. In my own opinion I don't understand how these CA get away with continuing to destroy peoples credit when they themselves, have taken that “risk” of "buying" an already delinquent account. If they "bought" that account, (for pennies on the dollar) isn't that account satisfied? If not why do they still come after you for the “full” amount plus still adding interest....They are not a creditor!!! Where does this interest come from? Where does the full amount come from? They bought it for pennies on the dollar...If the creditor was able to sell it to them and be satisfied for that amount, why is that NOT ever offered to us consumers first? IS it because they are "deliberately" punishing us? IF a creditor can be satisfied to a CA for pennies on the dollar why can't they be satisfied with the debtor the same way??????? Where is that agreement (terms and policies) with the CA with us? My guess is that this is all just a legal loophole. One loses his job so he deserves to be destroyed. Sorry just had to vent. But if anyone can answer any of this it would be greatly appreciated.
John
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