Settled Debt

[BudCle]

I settled a debt with WFN/STRUCTURE about two months ago and as indicated in there letter to me they would do away with there remarks on my CR. I just pulled my CR and there line is still there, what should I do now??

you have it in writing that they would delete the account? You could send a copy of that letter to the CRA.

[BudCle]

I can do that. I just wasn't sure if that was an option or if they would just regard that as a fake letter or something along those lines..
Thanks

well, the best way to get it off is to send WFN/STRUCTURE a knockout letter CMRRR, and when you get the green card back, send a copy of the letter to the CRAs, saying they are supposed to delete the account. i've gotten a few CA accounts deleted that way.

[BudCle]

What is a Knockout letter?
Thanks.

[Ravenous Wolf]

I can do that. I just wasn't sure if that was an option or if they would just regard that as a fake letter or something along those lines..
Thanks

The CRAs insist that you send supporting documentation or some kind of additional evidence.

What you have is gold.

Just forward a copy of that to the CRAs along with a letter stating that this account must be removed from your credit report.

As long as it has their letterhead and has the right information, that letter you have will work fine.

I have sent the CRAs supporting documentation numerous times and it has worked fine. Only a few rare times have they rejected it but the overwhelming majority of the time, it will work.

[BudCle]

Thanks for the input. I am going to send that to them and see what happens. Hey can I send them a copy and keep the original, or the other way around...
Thanks

[Ravenous Wolf]

Do not send them the original.

I have always mailed out a copy and kept my original documents with me. Copies of supporting documentation have always worked for me.

knockout:

CA address

Re: Account (whatever)

Dear Sirs:

It has come to my attention that you have placed a derogatory remark on my credit bureau files pursuant to my having paid you what you claimed that I owed you.

When I paid you, I relied upon the belief that you would do the honorable thing and remove your nasty and derogatory comments from my credit bureau files which you not only failed to do but actually changed my listing to paid charge-off which is a far worse rating in the eyes of any potential future creditors.

In doing so, you obviously failed to realize that the Doctrine of Estoppel directly applies to this type of situation and is cause and more than sufficient grounds for my pending lawsuit against you for punitive damages in whatever amount a jury might deem appropriate for your violation of the estoppel doctrine of law.

Here is what the Doctrine of Estoppel is and how it applies to your violations of it. In order for the Doctrine of Estoppel to apply, the party of the first part (you, the collector) must make some statement or engage in some conduct upon which I have relied and acted upon which later proved to be to my detriment or prejudice.

In your communications with me you told me that you would update my credit reports as soon as I had paid the debt to you. Quite naturally, I assumed and relied upon your statement to that effect to mean that you would mark the account as "paid as agreed" or even quite possibly remove it entirely.

I am quite confident that both you and a court of law will agree that such is a perfectly reasonable assumption for an average debtor to make. And so upon that assumption I agreed to pay the debt and in fact did so on (date settled) whereupon you actually worsened my credit bureau scores and that was most definitely to my detriment and prejudice and provided me with grounds to sue you for the full amount paid plus attorney fees, court costs and whatever additional punitive damages a jury might award.

Unless you move to cure your error and remove your derogatory remarks from my public records within 15 days of your receipt of this letter and provide proof of your cooperation with my demand in the form of mailing me a copy of your UDF which you transmitted to the credit bureaus demanding it's removal I shall immediately move to file against you in a court of law with jury trial demanded.

I am quite well aware that you have a contractual agreement with the credit bureaus which covers this problem and supposedly prevents you from compliance with my demands but a contract which is in violation of the law is null and void and of no force and effect whatever and therefore cannot be enforced either by you or upon you. Your so-called contract with the credit bureaus will not protect you for your willful violation of my rights which are protected by the Doctrine of Estoppel.

Your failure to cure and provide me with proof of your having cured the problem within 15 days after your provable receipt of this letter will be considered sufficient reason to refer this matter to the courts for their resolution.

While you may think that I have no right of private action due to the way FCRA is worded, let me hasten to assure you that such beliefs are quite ungrounded and false. That point has been vividly pointed out by the ruling of the U.S. 9th Cir. Ct. of Appeals in the case of Nelson v Chase, March 3, 2002. in which the court pointed out that Section 1681s-2(b) of the Fair Credit Reporting Act creates a cause of action for a consumer against a furnisher of erroneous credit information. But my pending suit against you will not be about FDCPA nor FCRA but about how you have damaged me after I acted in good faith in dealing with you.

Sincerely

crazy debtor

[Anonymous]

I'm actually in the same boat except I dont have a letter from the Collection Agency on their letterhead. I just have email correspondence between myself and the Manager of the Collection Agency indicating how he would remove the "chargeoff" status and change to Account Closed - Paid as Agreed once the account is paid in full. They also made an Inquiry which appears on my credit report as a collection agency when he not only said it wouldnt, but also said they cant remove inquiries. He indicated through my delinquency with Banc One, they as a collection agency were authorized to do such an inquiry and will not remove. Can I fight this? i also tape recorded our conversation where he agreed to the above. desperate as I am buying a house soon.

[Ravenous Wolf]

Email is just like talking on the phone to a collector. It is totally worthless.

A CRA may accept an email printout but that is unlikely.

Stop your pen pal relationship with the collector over email and resort to old fashioned letters.

It has to be in writing for something to be valid.

And everything is negotiable, including removing the inquiries.

Lots of people on this board has had quite a few inquiries removed for various reasons...