This is my first post. Boy there is a lot of information here! Did I read correctly that after a charge-off, the OC cannot continue charging interest? I ask this because I had two accounts that I was paying through Genus Credit Management, for 34 months, they belonged to Capital One. After the first two months of payments NCO received the payments, they however are not on my report, and the accounts have recently been sent back to Capital One. Capital One says that every penny I paid for 34 months went towards interest charged each month. Thats why I asked the question. If they could not charge interest after the charge-off, well then I have something. I have sent validation letters on both accounts, asking for ALL paperwork on the accounts. I wanted proof that I did owe what they say. Did I read correctly, or am I just dreaming?

I moved this to your own thread because I'd like to follow up on this and it's a VERY important topic. And as usually, I have some questions:

Tell us how much the prinicipal was when you started with Genus, and how much your monthly payments were.

And, do you know WHY you made these payments through Genus? I.e. what's the benefit?

Did Genus provide you with a payoff schedule? I.e. the amount of money you'll be paying for each account until it's paid off?

Christine, Thank you fpr your reply. I believe my interest was 21%, because we had filed BK back in 92. I joined the program(GENUS)because I had a lot of medical bills, due to surgery etc., and I was paying outrageous late fees and over the limit because we could not pay, things were snowballing. Genus did our payment plan over the phone pretty much. A couple months ago, when I cancelled the payments going to Genus for Cap. One, Genus wrote me an E-Mail saying that I had agreed to a 21 month plan, I should see it out. I replied that i had been on the program for 34 months! They did not seem too informed. Capital One did tell me that my payments fluctuated each month, which I thought sounded odd. I really don't know who is telling the truth, I just left another message with Genus for their research person to call me, she is supposedly working on this mess for me. I want someone to tell me exactly what I paid on the balance. One girl I spoke to said that I paid 13% of the balance each month towards the balance, but the next person I spoke with did not know? Any help would be appreciated. I doubt they will validate.

Sorry, I just woke up. I forgot to tell some info.

#1 account-balance 1595.00
most owed 852.00 payments were 64.00 a month
Past due 1595

#2 account- balance 1500.00
most owed 917.00 payments were 49.00 a month
Past due 1500
After I complained to Capital One, they updated the reports to read:
#1 account-balance 1597.00
most owed 1597.00
past due 1597.00
#2 account-balance 1527.00
most owed 1583.00
past due 1527.00
That is what is on the TransUnion Report, until I disputed, now it is back to the first reported amounts above.

Christine, should I perhaps send a validation letter to NCO? They did have the accounts until Feb.2002. Someone should have to account for where my money went, and what the balances are. The whole point in joining Genus was to pay the debt off, and at either no interest or a lower one! I have read how some people have a CCC notation on their report, I don't. Guess thats good. The only thing good that I can see that Genus has done.

It's Genus who "should" to take care of this.

You apparently have NOTHING in writing. You need to STOP using the phone, get a fax service or use e-mail (you mentioned they sent you e-mail.)

Because you have NO written agreement with Cap One, they figure they can collect whatever they want.

I don't know about requesting validation from NCO, if I read this right they had the account only for a couple of months.

Have you been getting statements from Capital One?

With what they are reporting, especially after you disputed, I would try to get the documentation to sue them for deletion of the outstanding debt and of course their credit reporting - and a few bucks for your troubles

Christine, NCO received the payments for the Capital One accounts for 34 months. When I disputed the accuracy of the balance owed, and stopped payments through Genus, that is when NCO returned the accounts back to Capital One. I have not heard back from Capital One on the Validation request, they have until 05/18/2002. But today I received information from TransUnion that they deleted the third Capital One account that I settled through NCO. I really may need your help in foghting this whole mess. Any suggestions for now, in light of the clarification about NCO. Should I go ahead and request validation with NCO?

Sorry forgot, no they have not been sending statements, and I never received any statements from NCO, just Genus. I have a payment history that Genus sent me, and I know Genus sent Capital One copies of every cancelled check paid on the account the 34 months.

Ok, good, you don't have to pay for the statements.

Since Cap One is the original creditor, they don't have to validate. But, since they didn't send you any statements, they DO need to tell you how they come up with the balance owed.

Next time, give them only 10 days or 2 weeks.

DO KEEP all your credit reports, it looks like there have been serious reporting violations.

Is that what they wrote to you? It's not really the issue, since Cap One doesn't dispute receiving the payments, they just say it was all interest.

Send Genus an e-mail asking what they negotiated for you with Capital One. Make sure they know it's urgent - and that you need this in writing. You can add "for possible legal action against Capital One" if they're not taking you serious.

I also recommend you summarize what has happened so far, the different responses you've been getting, etc.

You can't request validation from NCO since they don't have the account anymore UNLESS they are reporting it on your credit. I think you have to deal with Cap One.

Christine, I will E-Mail Genus, I sent them one earlier asking for my original proposal with all creditors, told them I was not happy with the response I was getting from their research team. Capital One insisted on getting copies of all cancelled checks, I'm not sure why. I will do what you suggested, and go from there.

Christine, I just E-Mailed Genus, started off with telling them thatmy message was urgent, I was considering legal action against Capital One and needed them to tell me what they negotiated with Capital One. Every so often they reply quickly, but their standard reply is give them 72 hours. I just noticed that the Capital One account that was deleted was not the settled account, but my sons card. They were reporting it on my credit report as an authorized user. I never use his card, I only make payments for him sometimes. What do you suggest with an old settled account that won't validate, but will verify? I have the settled Cap. One account and a Assoc/Citi account I sent validation letters to. Neither replied, but both verified.

Ok, make sure you get everything in writing, something is really screwed up. Maybe NCO pocketed the payments ...

This is very strange.

Send the 3 day deletion letter. Check Legal & Reference - "C" for collecton for generic letters.

Christine, I just received an E-Mail, I guess mentioning "legal action" in the message alerted someone. Anyhow Genus said that "due to contractual agreements with creditors they are not permitted to release copies of the proposals made with creditors". They did say they have arranged for me to receive a copy of the original repayment schedule. I don't know, sounds fishy that a client of theirs cannot see agreements made on their behalf! It will take 7 to 10 days. I'm thinking of E-Mailing them again and requesting it be sent sooner.
Thanks on your help with what to send creditors that verify, but don't validate. Would the same letter work with old settled accounts? I have three that have not validated, but all three have verified.

That's just unbelievable. Well, maybe the repayment schedule will shed some light on this. Do ask to get it sooner.

The original creditors don't have to validate, since the FDCPA doesn't apply.

You can however notify them that you are disputing the account, and then they have to report it as such, and if they don't, maybe you can settle for deletion.

Christine, the old settled OC accounts each received validation letters, stating my dispute with the accounts, and I disputed with the CRA's, each account was verified. The creditors never reported the accounts as disputed by consumer.
I did tell Genus I needed the information they were sending sooner than the 7 to 10 days. In the past they have E-Mailed me letters I can read on my Adobe Reader. I don't see the difference, but I feel it is just a stall tactit. Maybe I'm just paranoid.
In regards to the old OC accounts, others have suggested the Nutcase letter from Fair Credit Movement sight, another the Estoppel letter. They claim they have had success, especially since the creditor never reported the accounts disputed to the CRA. I don't know. My biggest problem seems to be the Capital One accounts, and 9 CA accounts for medical bills I believe my insurance paid, and the CA will not validate.

Maybe you could explain what "estoppel" is?

Do you want to show the "nutcase" letter to the judge, in hopes of being institutionalized?

Am I assuming correctly that "OC" stand for original creditor? "CA" is California, Canada, or collection agency? I really don't want the readers here to have to take a class or something to understand a posting.

Everybody PLEASE keep it simple, and write so that everybody can understand what you're saying.

I guess I'm just not bright enough for estoppel and nutcase letters.

I send a validation letter to collectors, and a dispute to original creditors. I look for reporting violations.

Once I got the violations - after reviewing the reporting before and after the dispute/validation, probably in combination with CRA disputes, I offer to settle the violations for deletion. Maybe twice.

And then it's time to sue if they haven't deleted.

There are some minor variations depending on the individual situation, but essentially that's it.

No secret program, no words people don't understand.

Hope you get your Genus repayment schedule soon.

Sorry, just assumed a lot of your readers probably visited other sites like I do, in hopes of getting as much information as possible. I read about the Estoppel letter on CreditNet site as well as Fair Credit MOvement site. It is used supposedly with much success with settled paid accounts. Tried to find my copy of the letter, couldn't. Crazy day, sick babies, desk is a mess!
Yes, OC is original creditor, CA is collection agency. The "nutcase" letter is a letter referred to quite a bit on the two sites I mentioned. Same thing, its used with fully paid or paid settled accounts.
I'll make sure not to get crazy with abbreviations.Ha Ha. I'm new to all this too, so I understand not confusing readers, it took me awhile to catch on to all the credit abbreviations.
I'll let you know what Genus has to say. They haven't responded as quickly as they did to the first message I left.
What do you do when the collection agency verifies, but doesn't validate? I mentioned I have 9 collection accounts listed on reports, they are from the same collection agency for medical bills. They haven't replied at all. I considered calling the Hospital, asking if my insurance had paid after they sent the accounts to the collection agency, they do sometimes take awhile to pay a claim. I never received any notice from the collection agency about these accounts, I found out about them when I first ordered my credit report! I don't know why they won't validate if I do owe these amounts.
You suggested a 3 day deletion letter, I suppose that would rattle them if they received one for each account listed. Thanks for your help.

Premeno, read Kermie's threads, she got so many deletions, but you can also see the limitations and the need to just file that law suit occasionally.

I don't read at other sites, it's way too annoying. But several times now people posted about that idiotic "estoppel" letter.

There are way too many people trying to make already complicated credit reporting and scoring even MORE complicated by using word nobody understands.

People praising idiotic letters, when ANY letter would receive the same result. Deletions are mostly a matter of chance.

Aside from chance, you can NAG people into deletion, or you can sue.

That's all there is to it.