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Merchants Credit Guide Co

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abigorbot



Joined: 01 Sep 2009
abigorbot's page
Posts: 34



756 Magic Points
Subject: Merchants Credit Guide Co
 
 Posted on Tue Sep 01, 2009 11:58 am  
Received letter in response to the Debt Validation Letter I sent Merchants Credit Guide. They sent me a notarized letter from Pinnacle Credit Svcs and a Summary Acct Statement also from Pinnacle. They have the name of the Original Issuer/Acct # along with the date is was charged off (12/31/2002 - last activity date 9/2/2002)

I'm actually in a similar situation. They've contacted me regarding an automobile debt from my exhusband. The debt is over 7 years old and I beleive Merchants guide is being shady however when I first spoke with them i was a bit emotional and had made a payment of $120 over the phone with them. I told them on the first call that it was not my debt and I never signed anything to take it over. I called them the next day and talked with the same rep to tell him that I was formally disputing the debt and would not continue any further negotiations until verification of the debt was sent. I also sent a certified letter to them stating the same thing that was deliverd way before the 30 day period. Would the SOL restart because I had made that payment?

he told me that it would take 3-4 business days to get documentation and the 5 business day was monday. I'm writing another certified letter today to advise that I haven't gotten anything from them but 2 letters saying my settlement amount.

I got my validation letter 8/31. It said it was charged off in 2002 but they didn't send any documentation showing that the loan was put into my name from my ex-husband. I currently live in Georgia which shows it was charged off in 2002. I've read on other sites that Georgia is 4-6 years.
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California


29555 Magic Points
 
 Posted on Tue Sep 01, 2009 1:08 pm  
Hi abigorbot

Quote:
Would the SOL restart because I had made that payment?


I am afraid yes.

Quote:
I got my validation letter 8/31. It said it was charged off in 2002 but they didn't send any documentation showing that the loan was put into my name from my ex-husband.


They need to show you proof that this debt has been put in your name along with details of how much you owe and how they have calculated your debt. You may also receive a copy of the original contract with the creditor. Let them first validate the debt and only then think of making any payments.
_________________
Keep in touch
Carol
abigorbot



Joined: 01 Sep 2009
abigorbot's page
Posts: 34



756 Magic Points
 
 Posted on Tue Sep 01, 2009 1:49 pm  
Quote:
Would the SOL restart because I had made that payment?
I am afraid yes.


I was afraid of that. I had no idea of the SOL before I had talked with them and I fear that made such a difference. Do you think that if I contacted my bank to dispute the payment that it would make a difference? The letter that I had received from the agency didn't say anything about the aging resetting so I thought that the dispute letter I had sent had let them know.

Quote:
"They need to show you proof that this debt has been put in your name along with details of how much you owe and how they have calculated your debt. You may also receive a copy of the original contract with the creditor. Let them first validate the debt and only then think of making any payments."


Should I send a letter to Merchants Credit Guide and Pinnacle Credit to cease and decist becuause I am talking to the original creditor?

Are there any other suggestions that you might have? I feel like because of the payment that I really have no choice now to pay the debt off. The agency said they would settle the debt for $7k but they said that was available until 8/31. The account statement letter said that the remaining balence was $16k.

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