CRA Education

#1 03-29-2004, 06:08 PM

Here is an interesting bit of CRA info.
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Pulled my commercial persons credit report from all three CRA’S so I knew which accounts my commercial person might want cleared up.& What an educational experience to say the least!
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There was one entry in particular that I had to discuss with my commercial person, because I had no knowledge what so ever of this alleged account.& It appeared to be a duplicate account of another.& Same bank spelled slightly different, different account numbers, and slightly different alleged debt amount.& 
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So in closer examination I noticed the mystery account was only open from <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:date Month="1" Day="26" Year="2004">1/26/04</st1:date> to 2/13/04 (2 weeks, 4 days).& Well, in going through my records, in that same time frame I sent a CPN to the alleged collector and guess what!!!& The CPN was for the exact same amount as the mystery account.
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There you go.& A CPN does discharge your debts dollar for dollar!!!!!& Both alleged accounts show as account closed and paid, but in remarks it states “profit and loss write-off”.& Oh Well soon to be deleted.
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Verina

rushpat · #2 03-29-2004, 07:27 PM

Kickin!

Another piece of the puzzle. I've thought for a while now that the CPN is safer to use than a BOE.

Any thoughts ?

#3 03-29-2004, 11:46 PM

Big Sky,

Do both accounts state, "Profit and loss write-off"?& Or only the first account that your commercial person opened?

Thanks,
Sara-Jane

seeker · #4 03-30-2004, 11:35 AM

I had a similar experience --&yesterday, I received a notice that my credit report (Equifax) had been updated and one new account had been "opened".& Since neither I nor my spouse had initiated any new accounts, I checked it immediately.& Imagine my surprise to find that the "new account" was actually a mortgage that we closed two years ago!& Just report 1/2004 as a "new account"!& Any suggestions as to how to approach and use this astounding information?& Should I go to the bank and ask them for my money this new account is generating?& LOL& No clue how to deal with this surprise.

#5 03-30-2004, 01:04 PM

Montana,

Yes, both alleged accounts say "profit and loss write-off".

Seeker,

Go to the bank, with report in hand,&and tell them you would like to see the original promissory note, with a bona fide signature, that funded this account.& You could also ask& for a&certified copy of the original contract that was signed when this alleged account was opened.& I would love to see the looks on their faces!!& While your at tell them you&want to see the journal entries made on their books when alleged account was opened, and the journal entries to show how the alleged funds were dispersed.

Verina

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Jerseee · #6 03-30-2004, 10:38 PM

Seeker,

You could also ask the CRAs to verify the debt.

seeker · #7 03-30-2004, 10:58 PM

jerseee;

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funny you should mention that..... I had just written and printed the letters to the CRAs -- ready to head into the mail today.& Coincidence?& Or Providence?& hmmm.& Will be interesting to see what they report.& There are several BIG inaccuracies listed on the current report I have in hand.& Have asked for them to validate and provide written proof of debt/allegation.& (a fraudulent judgement)& And so, the Game begins.

Jerseee · #8 03-31-2004, 04:42 PM

have fun.