In 1998, I opened a $200.00 credit line with JC Penney. In August of 2000, I moved out of town and went back to college. I paid what I thought was my last bill from them before I went. Apparently there was an additional charge of 4.00 or so that I did not know about. This continued to accrue late fees until they charged off the account in April of 2001. In February 2002, I was contacted by NCO - a collection company that JC Penney gave this account to. I paid $88.00 as a check over the phone and that was the last I heard of it.
THEN GE CAPITAL - MONEYBANK TOOK OVER FOR JC PENNEY !!! Ge Capital - Moneybank started reporting to all my credit bureaus that I was 6 months past due in November of 2005, then they filed it as 6 months past due in 2004. I contacted their call center and spoke with a woman there on 1-8-2007. She said she saw all the discrepancies and that she will update all three credit bureaus immediately. That is when I ended up with a chapter 7 bankruptcy listed on all my credit reports.
I am self employed and was turned down for a business loan because of this. This may cause me to go out of business. GE Capital just dummies up when I call them and says that there is no such report My credit score has now dropped by 80 - 100 points and they want me to send all documentation proving that I never filed for bankruptcy.
I have a separate account with Sams Club that is managed by them. I immediately sent a payment for the balance in full and instructed them to close that account. Everyone in their call center treats me like I am some kind of incompetant schmuck. I have worked in the credit industry for 10 years. Five with a collection attorney office and five for the collection and recovery department for Bank of America. When they get served with a subpoena to appear in court - I bet this account gets lost real quick ! What do you think ???
colorado springs, Colorado