Citi sells? to Fleet

RICKY · #1 05-17-2004, 01:46 AM

hi all,

here is something i haven't seen happen in any of our posts yet.& if it has, somebody let me know.& i realize that by being out of the loop for awhile i may have missed some good stuff i haven't caught up with yet.

anyway, a few weeks ago i sent requests to CRA's and then second ones to verify alleged reported debts.& i returned from a trip and found two CRA reports that came while i was gone.& they skirted the issue on most of the entries i inquired about, but they had shown a change in status on one account by Citicard. it showed they had charged it off as a bad debt.

in another envelope, i had a letter from Fleet welcoming me to their bank and that the Citibank account had been transfered to them, please read the Cardholder Agreement and accept or not accept the changes.

below is what i'm drafting: 
rickster
street
anywhere usa

MAY 17, 2004

FLEET CREDIT CARD SERVICES

PO BOX 15400

WILMINGTON, DE 19886-5400

Via U.S.P.S. Certified Mail #7003 2260.........................

DEAR CAROL D. MYERS

RE: WELCOME LETTER FOR CITIBANK MASTERCARD ACCOUNT ENDING IN xxxx

&

This is not written notice that I do not wish to accept the changes presented in the referenced letter. It is a request for verification of information.

Last week while I was out of town I received a form letter with your copied signature welcoming me to Fleet, that my alleged Citibank credit card account has been transferred to Fleet Bank (RI), National Association. I have read through the enclosed Cardholder Agreement for the changes to my account, including the option to not accept certain changes.

First, it really takes more than a moment to comprehensively read the Cardholder Agreement. In fact, it took me about 35 - 45 minutes to read it. I am an average reader and decided to read all of the printed matter so that I may understand what has happened here. Truly, you folks have the small print in there!

Secondly, I don't understand what has happened here. I looked up a credit report provided to me by one of the national credit reporting agencies, and found that Citibank has discharged the alleged debt as "charged off as bad debt". If that is the case, and I must assume it is because I don't know why a credit reporting agency would risk reporting false information with all the problems that would cause them, then the alleged debt no longer exists. 

So I have a few questions for you.

A. How did the alleged account transfer to your company? 

B. Was there an exchange of money or credit between your company and Citicorp related to this account transfer?

C. Do you have a contract signed by me in in which I have requested or agreed to have this alleged account established, thereby putting you in charge of my credit? If so, please provide me with the original because I can't find one in my records and documents. 

D. What was the date of this alleged "transfer"?

Ms. Myers, I am requesting answers to these questions in the form of a document signed by you. Until then I cannot make an informed decision whether to accept the changes put forth in your Cardholder Agreement or not. 

This letter is being sent to you prior to the June 27, 2004 activation date stated in your unsolicited and undated Welcome Letter I received. Please respond within 20 days so that I may make a decision prior to the time you established for me to make this decision. Thank you in advance for your quick attention to my inquiry.

I do this kind of business through written USPS delivered mail, so please don't contact me by phone or have anyone call from your company. 

Kind regards,

&

rickster

it seems to me Citi has sold the past due, written off account to Fleet.& in my days of distribution, when we wrote off any inventory we had to destroy it and not take any profit on it after that.& does the sdame hold true here?

should i ask them if they are currently acting as a creditor or a debt collector?& i think i need to add that to get some real clarification so&i will know how to better go at them.

i plan to send this letter to them monday may 17 or tuesday.& does anyone have any comments to further the cause?

regards to all,

rickyno advice given or taken and only opinions accepted

#2 05-17-2004, 05:23 AM

Mornin', Good Sir!

Personally, and as you know very well, I'm all outta patience with these people, with everything in this country. I.E., no more Mr. Nice Guy. Therefore:

Attn: Whomever

"I've received your letter re the purchase and transfer of an alleged debt from....to....which remains unverified by your company, yet has been removed by a cra.
"I'm certain I'll hear from [the new "creditor"] soon and that they'll be happy to know they've purchased an alleged debt with no proven liability, which remains unverified.
"No response from you within 30 days will be tacit agreement by [the first company] that any and all alleged debts assigned to me remain unverified and have been cancelled.
"I do not waive timeliness in this matter."

Then as soon as you hear from company #2, send them a copy of your letter to company #1. Something like that...

Now, let's go to North Carolina, right?

Randy