I recently received a letter from Merchants' Credit Guide Co. dated July 18, 2006, stating that I owed their "client" CFB Financial III LLC (one of their other names) a total of $817.01. At first I was puzzled because this amount was very close to the amount of an old student loan that I had closed last year. I immediately dug through all the papers on this loan to check the payoff and amount and also that I had verification that the loan was paid. All of these were positively verified -- also, the loan amount was slightly less than the disputed amount by about 70 dollars.
After a sleepless night wondering where this debt was coming from, I got online and really got my eyes opened. I am soooo glad I didn't telephone these people! I just felt that something wasn't quite kosher. For one thing, my husband and I recently bought a home and, having seen our credit reports, I am dead certain there was nothing like this on my credit.
I also went on BudHibbs.com and have found a couple of letters I will use. I am first going to send a debt verification letter, although I really do not believe I owe any debt to this company. One thing that was a real red flag was the name of the original creditor, Wells Fargo Financial Bank. Wells Fargo has only recently (within the last 10 years) really come into Utah. I wouldn't have had any dealings with them because I was living in Europe for the past 8 years and only recently returned. Even before the move I wouldn't have dealt with them financially, so I do not know where this would have come from.
I am also preparing to send a cease and desist letter, should the original verification letter prove problematic. The statute of limitations in Utah is 4 or 6 years, depending on the type of contract/agreement, but I cannot, for the life of me, figure this one out. All I can think is that they are going after me because of my name, and I have not used my current name for credit in the USA up until the past two years, so this makes no sense.
I would be more than interested in getting these guys. If this arrived in my elderly mother's mailbox she would freak out! I can just imagine what others are going through. I would appreciate any advice as to how to get these guys out of the business of blackmail, mail fraud, and terrorizing consumers.