CRA/MCM Confusion
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Posted by Suzanne (63.185.113.22) on July 24, 2004 at 16:12:46:
Guys, I'm really confused on something here and hope someone can give me some answers before I blindly go in and send MCM a validation letter. I have 2 accounts with them. The first account has had several OC's. It started out as AFCA, then UICI, then Bancard then Household Bank. HHB is the only OC showing up on any of my credit reports as claiming ownership. This account with them was closed in December, 1999 with a comment of Charge Off as Bad Debt. The amount owed at closure was 1,522. LTD Financial Services bought it out sometime in 2001/2002. Since I ignored their letters and did nothing, it eventually ended up with the MCM monsters. They claim it was placed with them on November 2002. The amount that MCM is now claiming I owe is $1,600. The second account is Stutsman/Bancard/Household Bank. Account closed with HHB in 3/2000 with a balance of $656. Marked as Again, LTD got it, I did nothing, it went to MCM who opened it on 4/2003. Amount owed is now up to almost $800. The thing I'm worried about if I try to validate, is that my Experian CR is showing that the first account did not go bad (first 30 day late payment was 4/2002 and the second one is showing 11/2002. I have no way to prove this but I know for a FACT that no payments were made in 2002 because I was laid off for most of that year and couldn't afford it. I don't think a payment was made since very early 2001. So do I wait about 6 more months and ask MCM to validate, or try and do so now? I'm either barely out of and really close to SOL. I'm starting to worry because it seems like anyone dealing with MCM, once they start to owe them over $1,500 is when MCM starts suing. I'm really starting to get my other accounts cleared up. Everything is starting to show up with a Paid After Charge Off. And MCM is still doing inquiries into my credit, so they will see this. Any help would be much appreciated. Sorry for the long post. BTW, I live in Texas.
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