CR confusion
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Posted by Valerie
(63.188.201.89) on July 03, 2004 at 21:50:13:
I've received copies of 2 of my 3 credit reports (Experian and Trans Union) to try and see if I can find the date the last known creditor had the account. The original creditors were bought out by Household Bank who held the accounts until they went 180 days past due and now they are in the hands of MCM. Here's my question. I KNOW I have not made any payments on the account to Household Bank since, at least 2000/2001. Exact date I can't be sure of, but I'm positive it wasn't any later than that because 2001 was the year I lost my job and was hounded by MCM. When I look at the Experian report, HHB has it written up in such a way that the payment history was fine until late 2002, then they turned it over to collections and it went to MCM. I'm a bit confused at to what exactly I should do here since I'm still within the active SOL. I live in Texas and have been since Oct. 2002. From what I've been able to read from the posts, the first thing I should do is NOT PAY MCM a single dime. I should completely ignore them. But then, I've read somewhere that I should send them a letter to validate the account. I'm guessing I should also do that to Household Bank, even though they have it written up as a charge off. If neither can validate the accounts, then I can write the CRA's and tell them this is not my account. Is that correct? However, what happens if MCM or Houshold ARE able to validate the account? Then I've left myself wide open to them for collection actions and possibly a lawsuit. I'm in a financial position now where I can start paying someone back, and have started paying back on other defaulted accounts where I still have contact with the OC. So, as I pay them off, I am marking that on the CR and noting it on the entry for the CRA so when I'm ready to dispute I can do it all at once. But these accounts with Household/MCM are my 2 largest (both combined equal about $2000) and I'd hate to have to consider BK for small amounts. All combined, I'm less than 10K in debit, with 6K of that being due to a car repossession. I'm confused.
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