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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Subject: Merchants Credit Guide & Household Auto Finance
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Wed Sep 16, 2009 12:12 am
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My original post is here but I have a few questions.
I have received an account statement, additional document from Pinnacle Credit Services [I was originally contacted by Merchants Credit Guide and a copy of the title that shows my name AND my ex-husband's name. When I first called Merchants Credit Guide, I was under a lot emotionally and made a payment. I've asked in the forums and the paperwork I'd received a recently shows that date as the last activity date which basically has made it a new debt from what Carol on these forums has said. I wish I hadn't because [a] It was originally under my ex husband and [b] reset the statue of limitations.
I've read online that Merchants Credit Guide charges outrageous interest and in the week since the first set of validation papers I'd received the amount they say I owe has gone up at least $100. I want to contact Household finance to verify how the loan was put in my name but I don't know how much good it would do at this point.
I wanted to ask...
[1] I think it would be better to deal with the original creditor at this point. I was originally contacted by Merchants Credit Guide and in the validation paperwork it shows that Pinnacle Credit Services has given authorization to Merchants Credit Guide to collect the debt. If I have to pay it, I would rather pay the source directly.
[2] In my first conversation with Rodney at Merchants Credit Guide, He offered a settlement of $7k. I want to say firm with them on what I will do since I don't believe I owe this but if I do have to pay I would rather it be the smaller amount. The documents show that about $16k was charged off. Do you think I that the original credit would be willing to make payment arrangements with me?
[3] I've read so much on the internet in other forums about Merchants Credit Guide and I really don't feel comfortable paying Merchants Credit Guide anything else on this. Will they take further action against me if I don't?
[4] When I had asked for the debt validation, I had asked for proof that they had a license to collect debt in Georgia where I currently live. They haven't sent anything saying they could. Does that matter? |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Sep 16, 2009 12:21 am
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Hi, Dealing with the original creditor at this point may be out of the question. If they sold your ex's debt then they will no longer deal with it. You definately reset the SOL with the recent payment. Is this debt in your name also or just your husbands? If it is under his name and you are not on the card then you are not responsible.
I would not advise paying that debt at all unless I recieved proper validation, which is a copy of the original signed contract, because they are not able to legally collect if they can not prove they own it. You did send the validation letter by certified mail right? |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Wed Sep 16, 2009 12:29 am
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| Quote: |
| You did send the validation letter by certified mail right? |
After the first phone call, I have only communicated with Merchants Credit Guide by certified mail. I don't have a copy of the original contract as of yet but they sent a copy of the title. It shows my name and his name. The date on the title is in 1999 and I have lived in Georgia since 2001-2002 and I believe the original loan only had his name on it. The thing that sticks in my mind is that both of our names are on the title but they make no mention of contacting him about it. |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Wed Sep 16, 2009 12:30 am
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| Quote: |
| After the first phone call, I have only communicated with Merchants Credit Guide by certified mail. I don't have a copy of the original contract as of yet but they sent a copy of the title. It shows my name and his name. The date on the title is in 1999 and I have lived in Georgia since 2001-2002 and I believe the original loan only had his name on it. The thing that sticks in my mind is that both of our names are on the title but they make no mention of contacting him about it. |
I wonder if he had forged my signature to put the title in both of our names. |
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fireyone
Joined: 26 Feb 2008
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Posts: 4285
127 Magic Points
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Wed Sep 16, 2009 12:37 am
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| Abigorbot, If your name is on the title then chances are you are responsible for this loan too. Even of he forged your name you would have to prove that he did. I am not sure whether they would have contacted him but chances are they did and they are trying to get one of you to pay. If they feel they would have more luck with you then they will pursue you. You have the option to pay and then take him to small claims court to recoup some of the money. |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Wed Sep 16, 2009 12:43 am
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Thank you for the feedback.
The total amount that Merchants Credit Guide wants is $25k on a loan that was charged off in 2002. Over a week or two, the amount total has gone up at least $100 if not more. Is there anything I can do to pay (if i have to) the original amount? I'm afraid before I know it the amount I owe will jump to $30k. I've never considered bankruptcy before but I don't own a house and I pay rent with two roommates. I feel like that might be my only option. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Sep 16, 2009 1:00 am
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| Ab, I imagine they could keep adding all kinds of different fees on the account. If you had not paid you would have been protected but we can not look backwards now. Is there anyway you could take your ex to small claims court and sue for a portion of the debt? Most states have a limit on how much you can sue for but if the settlement offer is $7,000 then you could ask for half which should be within the states limit in small claims court. I think you cna even do this before the case is settled. It would help get the amount down. |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Wed Sep 16, 2009 1:14 am
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| Quote: |
| Ab, I imagine they could keep adding all kinds of different fees on the account. If you had not paid you would have been protected but we can not look backwards now. Is there anyway you could take your ex to small claims court and sue for a portion of the debt? Most states have a limit on how much you can sue for but if the settlement offer is $7,000 then you could ask for half which should be within the states limit in small claims court. I think you can even do this before the case is settled. It would help get the amount down. |
I haven't communicated with my ex since 2001 and would have no idea where to find him to be honest.
I know i can't look back now but I wish I had not caved in to what the collection agent had said on the phone and made the payment.
I feel like my best option is to look into either chapter 7 or 13 in the even that another surprise like this comes up again. |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Subject: FTC Complaint
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Wed Sep 16, 2009 4:21 am
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I've filed a complaint about Mr. Toliver and Merchants Credit Guide.
date Wed, Sep 16, 2009 at 12:17 AM
subject Complaint has been submitted
hide details 12:17 AM (2 minutes ago)
Complaint Submitted
Thank you for contacting the FTC. Your complaint has been entered into Consumer Sentinel, a secure online database available to thousands of civil and criminal law enforcement agencies worldwide. Your reference number is:24027884 |
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www.creditmagic.org
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Subject: IoJdQjVvEpug
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Tue Apr 05, 2011 11:50 pm
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About8413.. Very nice  |
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www.creditmagic.org
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Subject: vRFxGVQdYUjAyztyEY
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Fri Apr 22, 2011 1:59 pm
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| About8413.. I like it |
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www.creditmagic.org
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Subject: FXiabhhamcPxXCWMn
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Sun May 01, 2011 6:33 am
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| About8413.. Reposted it |
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Rangler
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Subject: buGVHBroqMsstCIc
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Sun May 22, 2011 4:46 pm
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| Superior tihnknig demonstrated above. Thanks! |
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Jennabel
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Subject: FKtbwCrmFf
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Mon May 23, 2011 2:31 pm
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| ThatÂ’s rlealy shrewd! Good to see the logic set out so well. |
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