For the past several years, Palisades has been repeatedly reporting a 2003 AT&T bill to the CRAs. Now, incidentally, I never had an AT&T account.
Account Number: PAL1ATTXXXXXXXX Current Status:
Account Owner: Individual Account. High Credit: $74
Type of Account : Open Credit Limit: $0
Term Duration: Terms Frequency:
Date Opened: 09/2005 Balance: $74
Date Reported: 09/2009 Amount Past Due: $74
Date of Last Payment: Actual Payment Amount: $0
Scheduled Payment Amount: $0 Date of Last Activity: N/A
Date Major Delinquency First Reported: Months Reviewed: 31
Creditor Classification: Cable/Cellular Activity Description: N/A
Charge Off Amount: $0 Deferred Payment Start Date:
Balloon Payment Amount: $0 Balloon Payment Date:
Date Closed: Type of Loan: Factoring Company Account (debt buyer)
Date of First Delinquency: 09/2003
Comments: Collection account
I'm no expert on dealing with this so I thought I'd look for some input. Other than that my account never existed, there are some problems here:
--Is Palisades a "factoring company"?
--How is this account "open"?
--The "date opened" is after the "date of first delinquency." Is this possible?
Should I start by disputing with the CRA? Or will Palisades just come back and keep reporting it again even if the CRA initially takes it off?
Should I send Palisades a DV letter? I have a feeling they would just fabricate something and send it back to me if I did that, and then I'd have to get even more involved in this problem. Maybe I should just start with the CRA.
Has Palisades committed violations here, and if so, what should I do about that?
Really I just want this off my report and I would even be willing to PFD, but I don't know if that would fix the problem or if Palisades would agree to that.
one more thing
and in my state, this falls after the 6-year SOL. I don't know if that's relevant to getting this off my credit report though.
Palisades Tradeline
First of all, the opened is when Palisades bought the account and I don't believe any of the other dates on any credit reports until you start asking for info from the CRA's. But more importantly, if this account is not yours then dispute it with the CRA's that are reporting this account on your report.
If Palisades verifies that this your account after disputing with the CRA's that would be when you would send a Validation letter to Palisades and the original creditor.
This will come off it is not yours.
Hi D.P.G.
If you know that this account is not yours, then you must start off by sending a dispute letter to the credit bureau. If they tell you that it has been justly reported by the creditor, then send a debt validation letter to Palisades. Let them validate the debt first, then think of a PFD. Without validating the debt, they cannot collect on it from you.
An SOL is the time period between which a creditor can take legal actions against a debtor in the event of delinquency. If the debt is past SOL, then the creditor no more holds the right to sue a debtor.
Finally, if they are not able to validate the debt and still pursue you, then you must file a complaint against Palisades to the FTC and the State Attorney General.