Certegy sold to Trident asset management

[CreditCrisis]

I had a check that bounced, according to Certegy in 2007 (i'm not sure of the date) for $88.00. Well, Certegy has never really made a huge attempt to collect, but since i have disputed it with them, they have recently sold it to Trident asset management, who now says i owe them $114.

my question is, what the heck can i do now? Should I DV the new CA? I'm just afraid if now if i handle it through them, certegy will still report as a charge off or sold account. (a few others are on my account like this)

any ideas?

thanks!

[Trish]

Interesting how they sold it after you disputed it......that might mean they can't back up their claim that you owe it...

What I don't understand about Certegy is what the hell they are. You'd think they were a CA since they attempt to collect. I've never had them actually pop up on my CRs but I have had them call me on a check.
When you look them up, it states they are a "specialized" CRA.

Are they reporting on your CRs?

[CreditCrisis]

Yes. on my equifax.

[Trish]

I would DV the new CA......and also dispute Certegy with the CRAs.
If they sold the debt then they shouldn't be reporting it.

[CreditCrisis]

i actually have disputed the certegy account with the CRA's at it comes back verified every damn time. but i will try again

[Renee7]

I am having the same problem with Certegy and Trident Asset. I've disputed it and it comes back verified. Also, Certegy is reporting the returned check as if it were a regular account, being 120+ days past due with them , while Trident is reporting it as a returned check.

I think I may have made a mistake by making a small payment to them. All I want is for Certgy to report the account correctly.

[chane]

By making a payment, you bring a collection account current. It stays negative, but makes it like it just happened and effects your scores even worse. It also takes away your leverage as far as negotiating a pay for delete.

[debtexecutioner]

CreditCrisis,

In the situation with the bounced check, you're not just talking about a debt now, but also negotiable instrument law - a check is a legally defined as a "promise to pay".

If you made a partial payment to Trident, under the law (called the U.C.C.) -
you basically admitted to the debt. Even tho' you disputed it. So it's like being bi-polar - if a court looked at it they'd ask you the same question:
"do you owe it or not?"

Because of derivatives and ARMS (accounts receivable management), corporations, banks, and other debt holders sell off receivables for pennies on the dollar. It's big business. If Trident bought the account and didn't have proof as "holder in due course" they wouldn't be able to collect a dime, legally. But if you tendered a partial payment, without a restricted endorsement like "partial payment of the whole" or "disputed amount" then it's a done deal.

Check's are NOT cash as many have been led to believe.
They are a negotiable instrument and a legally binding contract!

Sara Goodman
Debt Executioner:cool: