Anyone Know Merchants Credit Guide Co

[tugcaptain]

Another Merchants Credit Guide

Residence is Florida. Recieved a call this AM concerning a debt from 1997 on a previous residence, with a previous wife. She agreed to pay the debt and then refused. After bringing suit, she settled with the original creditor. Now, Merchants is demanding over $12,000.00 and/or her name, address, phone number. After reading several displays, am sending letter to Merchants demanding documentation and stating that the Statute of Limitations has run out. Good thing I came across this site. Thanks!

 

[willowhaus]

Me Too...

Got a letter from these guys yesterday (Virginia). Sounded like BS to me - I called them to inquire & he was very vague, so I said I had to look into it. Glad I came across this site - only thing they're getting from me is a letter.

 

[H.I.S.W.I.F.E.]

I am from PA

I feel like such a dope! I actually started paying them. I'm so stuck on getting my credit right. I know I had a debt about 8 or 9 yrs ago. Did I screw up? Does anyone know SOL for PA. They got a sucker when they sent me a letter huh?

 

[jmbss4x4]

got me too!!

California I also received this bogus collection letter from MCGC. Debtor is Amoco. This not the only agency that has contacted me regarding bad debts. Has anybody gotten they're free annual credit report? I wonder if there is a connection. I have excellent credit, and I the only debt I have is my mortgage. Somehow, I got on some list. I'm sending the validation letter, regardless of SOL. My advice: do not give these people any money. If they cannot substanciate the debt, they cannot collect. Do not call them, if they don't have your phone #, they will if you return their calls. Contact by certified mail only. Ok to contact me at [email protected] if youm like.

 

[jmbss4x4]

Maybe you're not a dope!

I think you can still send a validation demand. I wouldn't pay them anymore money unless the debt is yours. QUOTE=H.I.S.W.I.F.E.]I feel like such a dope! I actually started paying them. I'm so stuck on getting my credit right. I know I had a debt about 8 or 9 yrs ago. Did I screw up? Does anyone know SOL for PA. They got a sucker when they sent me a letter huh? [/QUOTE]

 

[Psyched]

You may be stuck...

I think you can still send a validation demand. I wouldn't pay them anymore money unless the debt is yours. QUOTE=H.I.S.W.I.F.E.]I feel like such a dope! I actually started paying them. I'm so stuck on getting my credit right. I know I had a debt about 8 or 9 yrs ago. Did I screw up? Does anyone know SOL for PA. They got a sucker when they sent me a letter huh?

[/QUOTE]


The problem here is that when you start repaying, the SOL clock is reset. The SOL in PA is 4 or 6 years, depending on the account. When you make a payment, you create activity on the account that they will now us as a date of last activity. I suppose you can still demand validation and tell them you will only continue to pay when the account is validatied. At the least, I would ask them to remove any negitive activity from your credit report. You may also want to concult a law firm that deals with collection agencies.

By the way, it has been over 30 days from when I sent my demand letter and I have heard nothing. More to follow.

Psyched

 

[Ladynred]

SOL in PA is FOUR YEARS across the board.

I actually started paying them. I'm so stuck on getting my credit right.

Definitely a sucker, sorry. Don't you know that if this debt is 8-9 years old they can NOT paste it onto your credit reports ??? Apparently not or you wouldn't have panicked. If they did put it on your reports illegally, then you have them on illegal re-aging and would have grounds to sue.

 

[joeyg1]

merchants credit guide, what a joke

I am another victim of MCG. They contacted me in April 2005 stating I owed them $4991 for a credit card that i supposedly opened in 2001. Then i got a letter with a completely different balance on it. I knew this was some sort of scam. I called and advised them i dont know what this is. They immediately became aggressive calling multiple times and stating it wouldnt stop. They called my wife and said that i told them it was my bill, which is garbage, because my wife was there with me when i called them. I sent them a cease and desist letter and tey said they "never received it". So i sent a final notice as well, threatening legal action if the calls didnt stop and to provide validation. I have also contacted the attorney general's office in IL, where this company is located. They seem to be a major fraudulent company. When I received a call from them, it showed up on my caller ID as a hotel. They give different addresses, and there is never anyone there who really knows whats going on. Well I never heard from them since, however they put this collection on my credit report, which is now causing problems. I am now disputing this with my credit bureau and should have this removed hopefully soon. Something needs to be done about this company!

 

[free_agent]

A couple of questions

I just received a letter out of the blue from these creeps for a debt that, if valid, would be over 10 years old. I am in Texas and the statute of limitations expires after 4 years.

This claim is about a credit card. I don't recognize the card, but I suspect it was one that was supposed to be paid off by my ex as they used my previous married name in the letter. I *think* he may have even filed a bankruptcy which would have covered this debt. So I don't know how they got hold of it.

I've heard some of you suggest sending a certified letter to them asking for proof of the debt. However, since the limitations has expired, my first inclination is to just ignore the letter--my phone is unlisted and I don't think there's any way they're going to get my phone number. I don't want to give them any excuse to claim I've restarted the "clock" again or that I agree I owe this.

Thoughts?

Also, is there a way I can find out if my ex filed for bankruptcy (just for back-up) in case they keep pursuing this? Or is this simply a moot exercise because of the statute of limitations?

Just some info for those being pestered over the phone. One thing I do know is creditors only have to have ONE way to contact you. You can force them to contact you by mail only. Not sure if that's only state law, but you might want to check. If you tell them to contact you by mail and they keep harrassing you by phone, they can get in trouble

 

[Ladynred]

I don't want to give them any excuse to claim I've restarted the "clock" again or that I agree I owe this.

Sending them a cease and desist and telling them to get lost, the debt is time barred is NOT going to re-start ANY SOL clock it is NOT an admission of the debt, it is NOT payment.. its a 'go away forever' notice.

Also, is there a way I can find out if my ex filed for bankruptcy (just for back-up) in case they keep pursuing this? Or is this simply a moot exercise because of the statute of limitations?

Bankruptcies are public record. If you know when he filed, you can probably get a copy of the file. I doubt it would be on PACER if its 10 years old.


It really is a moot point since its so far past the SOL.

 

[TigerD]

Ironically, in North Dakota, pointing out that a debt of yours is outside the SOL will reset the SOL.

Be sure the intricities of state laws here. Other states may have similiar laws. In North Dakota acknowledging the debt will reset the SOL.

DC

 

[Ladynred]

That's the first time I've ever heard THAT one !!

You don't have to acknowledge it to point out that its past the SOL.. it could be a bogus debt, be out of statute, and STILL be bogus. Man, what a trap that is !

 

[Psyched]

The single biggest concern to consider when working with MCG (or any other collection) is how it will affect your credit. If the account shows up on your credit report, it may become more difficult to deal with later. The Fair Credit Reporting Act requires the collector to prove that the debt is valid. By sending MCG a demand letter, you are requiring them to prove the debt. The will likely be unable to prove the debt and the problem will be solved. If the debt is truly 10 years old (and past the SOL) it would not matter if they could. Accounts can only be listed on the credit reports for 7 years and any legal action can be dismissed. MCG (and others) by really old debts in a sort of collections after market. They may buy tens of thousands of old collections at a time for literally pennies on the dollar. They will then add interest to the debts and attempt to collect, often by sending letters or calling if they have the number. Some people just get a letter, assume the debt is theirs, and reply to one of their offers to settle the debt. The reality is that MCG can often not prove the debt. While they may have some legal justification to attempt to collect, they often have no access to documentation to prove they debt, and therefore cannot continue collection activities when confronted.

I too have not heard of resetting the SOL by sending a letter, though I am not an expert. I have spent lot of time online and working with a law firm to take care of my own stuff. However, it would be wise to check out the laws in TX just to make sure. Also, when you send them the letter make it clear that contact can only be made by mail. This will ensure that they do not call, as there may be later attempts to get your number.

 

[uglyfrog]

Where's the CLASS ACTION?

Dave from Los Angeles, CA here...

Pretty much everything I've read on this thread is exactly what I experienced. It's hard for me to understand why I'm seeing posts about this starting in January and 9 months later these people are still rolling right along confusing people about their past financial history to only offer them salvation at a 70% discount?!? How can this not be a form of blackmail when they threaten you by telling you if you dont pay them they will report it to the credit beurau?



I'm in for a class-action lawsuit.... does anyone know if theres one started for this?

UGH... makes me sick to my stomach! My email is dave(at)shamelesspromotion(dotcom) Please get in contact with me if there is a group getting together to nail these bottom-feeders.

-Dave

 

[Ladynred]

How can this not be a form of blackmail when they threaten you by telling you if you dont pay them they will report it to the credit beurau?

The problem is, the majority of consumers don't understand the FCRA and the reporting period for bad debts. The have no clue that a 10 year old debt can NOT be placed on their credit reports .. so they are intimidated, they think their credit is going to take a hit when in fact, MCG CANNOT do what they threaten.

I'm not aware of a class action, but I agree, there needs to be one. Just the people in this thread alone would be more than enough to get the thing rolling.