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I fell behind on a Citibank personal loan in 2009. I owed about $600 as of June 2009.
The account was written off in July for $458. I made multiple payments through the end of the year, paying what I could to Citibank.
However, it appears they have sold my account to Protocol Recovery Services out of Pensacola, FL with a balance due of $175. They called me out of the blue last week asking for payment.
In my credit reports, it all shows as Citibank and nothing through Protocol. I am willing to pay, but do not know what process I need to take or who I need to pay in order to try and repair/remove it from my credit as much as possible.
send a DV letter
If you know the debt is yours you can send a pay for delete letter asking the creditor if they would be willing to remove the negative listing from your credit report once you have paid. Just keep in mind not all creditors will agree to do this. But it is worth a try.
Account Written off to CA
Hi Guest,
First thing you should do is to send a "cease and desist letter" to Protocol Recovery Series mentioning that you wish to contact the original creditor, otherwise you can sue them .
After this you should contact your original creditor, Citibank. You should first mail them a validation of debt letter. After they answer back, send them a "pay for delete letter" making your intention clear that you wish to pay your dues. If the creditor agrees for the pay for delete the negative listing will be removed from your credit report.
Hope this will help you.
Thanks.
doing a PFD now will admit everything before you need to. make them show the records before you make an offer.
you need to determine if Citi sold the debt or just contracted them to manage the collection.
wcd is right. Please do the DV letter