Complaint Review: Mercantile Adjustment Bureau

It is already July 2007 and was unaware that MERCANTILE ADJUSTMENT BUREAU was still reporting that I had an outstanding balance. The person who contacted me on several occassions was very threatening each time. I cannot recall his name since all phone calls with him occurred back from June 2004 and through the beginning of 2005. The individual stated I owed $10156 to WFS Financial. (car was a lemon and the car was repo'd) I do remember stating that I could not pay at this time. The man was persistant and asked if I could pay half and then make payments for 6 months. I told him no. He again got loud and stated that if I did not pay by the end of the year, (Dec 2004). That all offerred settlements would not be valid and I would need to pay the entire amount. I told him to send it to me in writing.

Never received a statement until March or April of 2005 but it again stated that I owed $10156 but a settlement has been offerred for $3500 and my balance would be paid in full. I actually could not make the payment at that time but said I could agree to pay after July 2005. The person I spoke with was a female and was a lot more flexible and stated that she needed to speak with a manager but that should be fine. She called me the next day and stated that the manager agreed but I would need to authorize a payment to be debited from my account August 15, 2005. This sounded like the best solution since I was trying to clean up my credit. I remember the amount being removed from my account and I called probably about 2 weeks later asking for a statement stating that the balance has been resolved and PIF. They said that it would take about a month for it to show on my credit report and a letter will be sent around the same time.

I never received a letter, it is still on my credit report as no payment or settlement was made! My husband & I were trying to preapprove for house when the loan officer asked about this and faxed us our report! I have tried to call Mercantile Adj Bur since 3pm and the recording gets me no where! I knew I paid them off and I searched my 2005 bank statements and to my surprise there it was! When I began searching for a contact number on the web, I ended finding this information about fraud and collecting on old accounts! I have printed out a few of the other reports from here to show as proof that there is something wrong with this company. Along with the check that they were paid. I will seriously need to search for additional documentation that I may have from this company but if anyone is beginning a class action suit against Mercantile Adjustment Bureau, LLC I would like to be included. I am very distressed that this may be a case of fraud. I feel like I just had $3556 stolen from me and my credit report is still tarnished.

Dawn
Anaheim, California
U.S.A.