Re: Account re-aged by another vendor

Posted by Drew (24.59.27.46) on January 11, 2004 at 19:53:52:

In Reply to: Account re-aged by another vendor posted by MsWarrenT on January 11, 2004 at 19:03:07:

I am assuming several things here. One that Radio Shack was defaulted on and possibly charged off since it fell off your credit report after seven years. Negatives only fall off after seven years. Positives stay on ten years. Since the account had been declared a profit and loss and was subsequently sold, it is illegal for any collection agency or third party buyer to enter it on your credit report as a new account, even a collections account since it had already been reported.

The only way they can do that is they have an agreement in writing and establish a new account. They rolled this one over to a credit card account without your authorization and they reeported it as a new credit card account. THat is fraud.

I would write them a strongly worded letter informing them that you never signed onto the new account, you never asked for a credit card account for Capital One, this Radio Shack account is a defaulted account from many years back and is past the statute of limitations (UCC sales and services, 4 years) and that you want this account closed and it removed from your credit report as it is an illegal violation of your rights. YOu need to send a copy of your letter certified mail, return reciept requested and make copies of your letter. Also make copies of your letter to these goons and send them to the Federal Trade Commission, the Banking Commission of your state, the Licensing Board of your state for collection activities, the Attorney General, and the Chairman of the Board of Directors at Capital One and let the Board of Directors know that Capital ONe is in the habit of buying delinquent accounts, converting them to current accounts and is padding their accounts recievables. This is investor fraud. Also send in disputes of this account to all three credit bureuas and if necessary file a fraud report.

This is highly illegal especially since you didn't agree to this and didn't sign onto it. DOn't talk to them anymore and get you a consumer lawyer. You may have the grounds to sue them for violations.

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