Topic: Credit Report

[atwitsend]

Question:
If an OC sells off your account to a JDB and it shows on your CR as a certain amount.

Why does the JDB post it on your same CR for an amount significally higher.

[WinningTheBattle2010]

  I see that alot myself as do others.

  I don't beileve they can add anymore to the charged off balance unless
they have a judgement against you collecting interest. May be a violation?

  My opinon,  see what the brains on here say.

WTB

[KFMAN]

Question:
If an OC sells off your account to a JDB and it shows on your CR as a certain amount.

Why does the JDB post it on your same CR for an amount significally higher.

Because they lied???

If this was my issue I would learn what protection I have through FDCPA and FCRA.

1692e- Any false/misleading/deceptive representation or means in connection with the collection of said debt.


1692e(2)- Legal Status, Character or Amount of said debt

Remember if they report on your CRA's they must report accurately and we all know JDB can't prove you owe the alleged debt, so how can any  part of their tradeline be accurate?

[cheeks]

The debt can and will accrue interest as it ages in accordance with the credit card agreement or laws of your state. The charge off amount from the OC should be reflected in the JDB's TL at Credit Limit or Original Amount and the accrued interest amount in the Recent Balance slot.

[KFMAN]

the debt can and will accrue interest as it ages in accordance with the credit card agreement or laws of your state. The charge off amount from the OC should be reflected in the CA's TL at Credit Limit or Original Amount and the accrued interest amount in the Recent Balance slot.

This is true but where is the contract that states they can charge a certain amount?

We all know JDB can't prove Chain of Custody so the information on their Trade lines is inaccurate, violating FCRA and FDCPA.

[cheeks]

This is true but where is the contract that states they can charge a certain amount?

We all know JDB can't prove Chain of Custody so the information on their Trade lines is inaccurate, violating FCRA and FDCPA.

I believe most credit card agreements have language allowing the accruing of interest and state law, my state at least, allows 12% to be collected.

Seems to me that in order to prove a JDB can't prove Chain of Custody one would have to go to court or arbitration and until such time the reporting according to these rules would be valid.

But this can't prove chain of custody argument is new to me and I haven't come across an explanation here (though I continue to read).  So if that is true then all JDB accounts are uncollectible?

[KFMAN]

I believe most credit card agreements have language allowing the accruing of interest and state law, my state at least, allows 12% to be collected.

Seems to me that in order to prove a JDB can't prove Chain of Custody one would have to go to court or arbitration and until such time the reporting according to these rules would be valid.

But this can't prove chain of custody argument is new to me and I haven't come across an explanation here (though I continue to read).  So if that is true then all JDB accounts are uncollectible?

Yes most JDB can't authenticate the documents in court!

Have you read the Chain of Custody thread in the JDB section?

They buy the Alleged debts for 2 - 5 cents on the dollar and try to collect the full amount plus adding fees and INT that are not allowed by law.  Yes they can do anything they want as long as you don't sue them on it.  If they are adding fees and Interest, where is the contract that states they can do that?

Can they bring a witness to court and AUTHENTICATE all documents in court, including the Contract?  Most of the time, the answer is no.  They didn't buy that right, just a piece of paper.

[cheeks]

Yes most JDB can't authenticate the documents in court!

Have you read the Chain of Custody thread in the JDB section?

I've just finished reading all of excelsior's posts! I'm still working on credit repair, but a phone call today has me thinking about JDB's. Looks like I'll need to read all your post too

I realize JDB's will have a hard time producing the proper documents and in my state satisfying the business records law (an actual person aware of my account when it was created!), but I just can't imagine it being that easy ...

So basically once you get a JDB on even a single violation you can sue irregardless of how much they allege you own them; it's like life in the fast lane!

[KFMAN]

Litigious? Read this first
     http://www.debtorboards.com/index.php/topic,7215

http://www.debtorboards.com/index.php?topic=7211.0

[cheeks]

Thanks for the links, I'll revisit them.  Someday soon this whole swirling mass of facts/ideas will congeal.

[WinningTheBattle2010]

  So what your saying is,

  A JDB can't even put a TL on your credit since they can't prove you own the debt?

  That means they violated you?.  by bringing your credit score even further down?

  Being the debtor never engaged in a contract with the JDB.

  So its a violation of not being able to validate because they can't show chain of custody.

  What violations/ numbers would all this add up as?

WTB

[KFMAN]

  So what your saying is,

  A JDB can't even put a TL on your credit since they can't prove you own the debt?  Who said that?  If they bought the alleged debt, they have the right to post a TL, but everything on their TL must be accurate and most of the times they are probably not.

Understanding the Junk Debt Buyer 

"The principal collection tactic of JDB's seems to be a combination of patience and complete disregard for the mandates of the Fair Credit Reporting Act (FCRA)."

http://www.debtorboards.com/index.php/topic,4.0.html



  That means they violated you?.  by bringing your credit score even further down? 

  Being the debtor never engaged in a contract with the JDB.  They bought a piece of paper that gives them the right to collect for that piece of paper.  They can add fees and INT but they more than likely can't prove what fees and INT they can legally charge.  JDB have problems with Authentication of documents in court, when challenged.  In most debt lawsuits, 95% of the people being sued don't show up, so it's an easy victory for them.



  So its a violation of not being able to validate because they can't show chain of custody.  Validation is what the judge says it is.


  What violations/ numbers would all this add up as?  See FDCPA easy and then the full blown FDCPA and FCRA.  Anything Deceptive or not accurate is a violation of both FCRA, FDCPA and maybe state consumer laws.  In some states like Kentucky, JDB can only collect the amount they paid for the alleged debt, assuming they can prove what they paid for it and Authenticate all evidence in court.

WTB

[WinningTheBattle2010]

  Thanks KFM.

  now it is clearer. 

  So show up in court if/when the day comes.

  What about getting sued, sewer served and not knowing about it, I hear the JDB's are
famous for this.?

   I am going to sign up for credit monitoring service about $12 a month.  my sol's are getting
close 3 1/2 years + now for a 4 year sol. I am getting more Duns from new bottom feeders.

  WHere would we be without DB ?.  Thanks all.

WTB

[KFMAN]

  Thanks KFM.

  now it is clearer. 

  So show up in court if/when the day comes.

  What about getting sued, sewer served and not knowing about it, I hear the JDB's are
famous for this.?

   I am going to sign up for credit monitoring service about $12 a month.  my sol's are getting
close 3 1/2 years + now for a 4 year sol. I am getting more Duns from new bottom feeders.

  WHere would we be without DB ?.  Thanks all.

WTB

I wouldn't pay somebody $12 a month but that is just me.  I would respond to all DV with the election on ARB. 

[WinningTheBattle2010]

  I didn't sign up for the credit monitoring service, they wanted a physical address that I am at.
since I am living out of my vehicle most of the time, I don't have an address just my po box.

  I am fighting LVN* now, TL's and maybe Reaging the debt.  It now looks like most of the suposed debt has been sold off to JDB's.   SOL is up this year on all. 

  Now the worms come out for blood.  Thanks for all the info, DB rules.

WTB