Calvary Portfolio Services RIPOFF!! EXTORTION!! Added 6k in interest to a bill that is over 7 years old and will not verify debt or repond to any letters Hawthorne New York
I voluntarily gave back a car in 1999. Original creditor was Americredit, they sold the car at auction. Americredit sold my account to Cavalry. I have written 10 certified letters to Cavalry over the past two years, they will not respond at all. I have disputed this item throught the 3 major credit companies and Cavalry verifies the info every time as correct. They have added over 6k in interest to my account. The balance that they say that I owe is more than I originally purchased the car for. Americredit entry will be removed in 9/06 but Calvary will remain for 2 years after that date.
Las Vegas
Las Vegas, Nevada
U.S.A.
3 Updates & Rebuttals
Ed
Decatur,Alabama,
U.S.A.
Time debt can run on report sold or not
#4Consumer Comment
Tue, June 06, 2006
5. Can the Running of the Reporting Period be extended?
Absolutely Not!
Prior to 1996, any account activity extended the reporting period so creditors and collectors took advantage of this loophole to keep negative items on a consumer's report for many years. In order to eliminate this loophole, Congress amended the FCRA in 96 and firmly established a date from which the 7 1/2 year period begins as the month/year of delinquency (last missed payment).
Therefore, whether the 71/2 -year period has expired or not, the running of the reporting period cannot be adjusted just because one of the following events or actions occur:
Creditor sells or transfers the debt;
You respond to a post-charge off collection effort by making a payment or signing a payment agreement;
You dispute the account or item with a credit reporting agency (CRA).
Ed
Decatur,Alabama,
U.S.A.
7 year statute
#4Consumer Comment
Tue, June 06, 2006
The fair credit reporting act restricts selling the debt to the same 7 year rule as the original creditor. It runs from the delinquency that resulted in the charge off. If you tell the credit bureaus they will have to change it and take it off your credit report. Nevada's SOL is 6 years for this.
This is not for credit report but for collecting. they cannot go to court or if they try you have the defense of the SOL. They are required to show you who they bought the debt from. send a no contact letter and you can sue them in any court of jurisdiction. Small claims would probably be best. $1000 a pop.
Tammy
Las Vegas,Nevada,
U.S.A.
Address Update
#4Author of original report
Thu, April 06, 2006
After reading through some of the other reports regarding this company I just wanted to state; this is the same company that was located at 4050 Cotton Center Blvd in Arizona. The last letter that I sent was returned. Experian still reports this address but TransUnion has updated their address to this NY one.
If anyone can give me advise on how to proceed to sue this co please please dont hesitate. Thanks