Vent about Credit Bureaus

[mohrds]

Ok, I watch my credit reports, I have over seven years of never missing a payment, I have a score in the high 700's.

So last month, I get an alert that a "Potentially Negative" item has been placed on my account. I go in and look and dispute it since I had no idea who the company is.

It is listed as an open collection from some NCO Collection agency in Philly, PA. No phone number, no address, no information that would enable me to contact them.

I figured this was a slam-dunk dispute. The Collection Agency would see their reporting to the wrong SS# or whatever they did wrong and it would be over.

Today, I get a response from Experian saying that after thorough investigation, they have determined the information to be accurate!!

WTF? Did they even contact the collection agency? I would really like that contact info so I can find out who the hell the bill belongs to.

Had I actually owed them a debt, wouldn't logic conclude that the collection agency would send me a letter or call me asking for the money at least once? They certainly can't expect me to just send a check to "NCO, Philadelphia, PA" and expect it to get there.

Better question, why would anyone who always pays their monthly bills on time (totaling well over $3K a month with mortgage, utilities, cars, etc) risk their credit by stiffing some unknown company out of $150???

I heard that The credit Bureaus were losing reputations and banks are starting to look at alternative methods of determining loan worthiness. I for one hope that they dig their own grave.

Not only do the mysteriously lose my official "opt-out" 3rd party marketing requests, but apparently they don't give a damn about the people who's lives they play with, either.

Sorry for the rant.

Doug

[NikFu S.]

What happened after Experian got back to you?

I'd call them out on flat out lying, but there is always the chance of fraud and ID theft.

Think it's possible someone tried to be you?

[mohrds]

Originally Posted by NikFu S.

Think it's possible someone tried to be you?

Who would want to be me?? Hell, I don't even want to be me

[subi-crosser]

Originally Posted by mohrds

Ok, I watch my credit reports, I have over seven years of never missing a payment, I have a score in the high 700's.

So last month, I get an alert that a "Potentially Negative" item has been placed on my account. I go in and look and dispute it since I had no idea who the company is.

It is listed as an open collection from some NCO Collection agency in Philly, PA. No phone number, no address, no information that would enable me to contact them.

I figured this was a slam-dunk dispute. The Collection Agency would see their reporting to the wrong SS# or whatever they did wrong and it would be over.

Today, I get a response from Experian saying that after thorough investigation, they have determined the information to be accurate!!

WTF? Did they even contact the collection agency? I would really like that contact info so I can find out who the hell the bill belongs to.

Had I actually owed them a debt, wouldn't logic conclude that the collection agency would send me a letter or call me asking for the money at least once? They certainly can't expect me to just send a check to "NCO, Philadelphia, PA" and expect it to get there.

Better question, why would anyone who always pays their monthly bills on time (totaling well over $3K a month with mortgage, utilities, cars, etc) risk their credit by stiffing some unknown company out of $150???

I heard that The credit Bureaus were losing reputations and banks are starting to look at alternative methods of determining loan worthiness. I for one hope that they dig their own grave.

Not only do the mysteriously lose my official "opt-out" 3rd party marketing requests, but apparently they don't give a damn about the people who's lives they play with, either.

Sorry for the rant.

Doug

I too share your grief!! The letters I sent to the legal department at Lowes, and Nationwide insurance started out like;
" In The Circuit Court Of Allegany County Maryland"

I have been TRYING to get them to remove BOGUS stuff from my report since June of 04, I will now have to 'be compensated' for my damages!!
Can you say "LAWSUIT???" I can!!

[ensteele]

Don't get me started on this topic!

www.clarkhoward.com

That's all you ever need. Go there, read, learn. His radio program nightly helps people with similar problems. Even if the bill isn't truly for you the collection agency will still try and get your money. If the bill if really yours dont pay it till you get a statement in writing from them saying they will remove this bad mark from your credit score.

[mohrds]

Originally Posted by jjcobra

www.clarkhoward.com

That's all you ever need. Go there, read, learn. His radio program nightly helps people with similar problems. Even if the bill isn't truly for you the collection agency will still try and get your money. If the bill if really yours dont pay it till you get a statement in writing from them saying they will remove this bad mark from your credit score.

That would be fine if I could get ahold of them.

[michael]

Is it possible you got signed a contract with someone, cell phone,XM,etc.. Sometimes they will set you up with a credit card without you knowing about it. If you do not get the bill or don't pay it they will put it on this card. I d NCO and it seemed as tho they were legit, what phone# did you call 1-815?

*69 them next time they call, you'll get their phone number right quick then.

[mohrds]

Originally Posted by jjcobra

*69 them next time they call, you'll get their phone number right quick then.

They have never called. They have never sent me mail. I'd be happy if they called.

I tried calling NCO on the number listed in switchboard and it rings and rings.

Googling, I have found out that NCO has one of the highest complaint totals for violation of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act of any agency.

See, most people complain about being harassed by them, I WANT to talk to them so I can find out what the hell this is...

I hate to inform the people that made the fair debt collection practices act. But legally the company is actually allowed to harrass you and say anything they want just as long as it isnt a direct threat against your life. They can say they'll smash your car and everything, and it's all legal. That of course doesnt mean its right or moral, and means you're dealing with a rogue debt collection agency instead of that would rather actually get the money and leave you alone. They wont pick up because they dont want "debtors" to call them. They'd much rather make you miserable. Your best bet would be say screw you guys, and spend your efforts on finding what created this mysterious debt and solving it through them if at all possible. This brings up the question of how to get in touch with a company that you dont know sent you off to the third party debt collector.

useful stuff
http://clarkhoward.com/shownotes/category/12/103/358/
Excerpt "They seek out people with the same name as the actual person who owes the money and scare them into paying money they don’t owe. Another tactic is to contact relatives of the deceased who owed money. They claim it’s your responsibility to pay the debt, which is not true. "

[mohrds]

Originally Posted by jjcobra

I hate to inform the people that made the fair debt collection practices act. But legally the company is actually allowed to harrass you and say anything they want just as long as it isnt a direct threat against your life. They can say they'll smash your car and everything, and it's all legal.

Actually, the FDCPA specifically states that all of the things mentioned above are in fact illegal and punishable by fines of actual financial loss or $1000 per incident.

§ 806. Harassment or abuse [15 USC 1692d]

A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1) The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person.

(2) The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader.

(3) The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting agency or to persons meeting the requirements of section 603(f) or 604(3)1 of this Act.

(4) The advertisement for sale of any debt to coerce payment of the debt.

(5) Causing a telephone to ring or engaging any person in telephone conversation repeatedly or continuously with intent to annoy, abuse, or harass any person at the called number.

(6) Except as provided in section 804, the placement of telephone calls without meaningful disclosure of the caller's identity.

Originally Posted by jjcobra

This brings up the question of how to get in touch with a company that you dont know sent you off to the third party debt collector.

That is the question of the hour...

guess you should call your congressman to complain

[Landshark]

good luck with that stuff.

another thing that chaps my ass about credit cards is when you get a new one, only to find out you've been "automatically enrolled" in some B.S. program ("Accountguard", etc.). i then immediately call the credit card co., cancel the card, and explain that their business practices are sneaky and probably illegal.

You've probably already done this but heres your Attorney General's website.
http://www.doj.state.wi.us/ag/contact.asp

NCO also goes by these company names
Sherman Acquisitions
Sherman Financial Group
Alegis NCO Group

These companies have been the subject of recent FTC legal actions and penalties for illegal/abusive collection practices.

If they do call you live in one of the states where you by law can record the conversation with them without the collector being told so and catch them in the act. And then Sue the pants off of them.