What to Do?

[jlyriq]

ok so here is the thing, I owed a bank from an old account i had and end up opening a new account with that same bank and they end up taking the money out of my savings account to pay for the old account. Before they took the money they sent that debt into collections and it is being reported on my CR. Now the debt was from june of 08 and the bank took the money in Dec of 08. now it doesn't seem that they have transferred the payment over to the CA so far so do i ask the bank to remove it or do i call the CA and tell them to remove it since there is no longer any debt to collect on?

[jjgross]

Originally Posted by jlyriq

ok so here is the thing, I owed a bank from an old account i had and end up opening a new account with that same bank and they end up taking the money out of my savings account to pay for the old account. Before they took the money they sent that debt into collections and it is being reported on my CR. Now the debt was from june of 08 and the bank took the money in Dec of 08. now it doesn't seem that they have transferred the payment over to the CA so far so do i ask the bank to remove it or do i call the CA and tell them to remove it since there is no longer any debt to collect on:D?

If its paid in full you need to dispute it with the ca.Then if they verified it you can produce your bank records for their violations of the reporting laws and ask them how much do they settle their debt to you.Because if you sue you made get a little money,but whats important is to have it removed from your Cr.

[Trish]

You can dispute it, like jj was saying.....but at the same time, I would call the bank and ask them to recall the debt from the CA and have them stop reporting it since they were paid and it wasn't the CA that collected the funds.

It sounds like it was only an assigned debt.......so it should get removed.

[jlyriq]

Ok so ill will give the bank a call today and let you know how that turns out

[jlyriq]

Ok so quick question, will calling the bank can't they just say well we took it and transferred it over to the CA? Then what?

[Trish]

Well, I guess you could always ask why? lol.....the CA didn't do anything. kwim?
But if they do tell you that.......you will just have to DV the CA (yes, even though it's paid) and dispute with the CRAs. You could even do a 1 2 punch.