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abigorbot

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

756 Magic Points

Subject: Credit America

Fri Sep 18, 2009 5:36 pm

Does anyone have any feedback on this company? I've done some research online and I've heard very negative things about them that to be totally frank scared me. I feel like if I contact them it would bring another agency into things.

I'm still dealing with my situation and have called Household Auto to get a copy of the original loan contract. They told me that they should be able to furnish it but if they can't that I would have to call Credit America. The account sold to Credit America in 2004. I was originally contacted by Merchants Credit Guide and in their debt validation documentation they have that Pinnacle Credit services gave authorization for Merchants Credit Guide to collect on the debt?

abigorbot

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

756 Magic Points

Fri Sep 18, 2009 9:49 pm

It seems like the original creditor does have a copy of the contract which is a good thing. now we wait 48 hours for it in the mail.

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Sun Sep 20, 2009 2:02 am

Who is requesting the payment for this debt? If it is a collection agency I am hoping you sent them a debt validation letter to be sure they could validate the debt. Also who are you paying off, the original creditor or a debt collection agency? You should ask for a pay for delete and get it in writing before paying off the debt. This would remove whomever you pay their marks on your credit record.

abigorbot

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

756 Magic Points

Sun Sep 20, 2009 3:30 pm

Quote:

Who is requesting the payment for this debt?

Merchants Credit Guide. The original credit told me they had sold it to Credit America. I don't know how long credit america would have it but it seems like it went to another agency.

Quote:

If it is a collection agency I am hoping you sent them a debt validation letter to be sure they could validate the debt.

Yes, to Merchants Credit Guide.

Quote:

Also who are you paying off, the original creditor or a debt collection agency?

I haven't paid anyone off yet.. other than that one payment. *still pissed that I did that without properly researching* I'm still trying to validate how my name got on this debt. It honestly seems like the best option now would be to file for bankruptcy. From the time of the first letter to now, The debt has gone up a $1k and $26k is a lot of money from what the amount actually was when it was charged off.

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* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.