• Report: #302234

Complaint Review: Nextcard & NEXCARD/MASTERTRUST

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  • Submitted: Tue, January 22, 2008
  • Updated: Tue, January 22, 2008

  • Reported By:Eau Claire Wisconsin
Nextcard & NEXCARD/MASTERTRUST
1620 DODGE ST., OMAHA, NE 68102 Omaha, Nebraska U.S.A.

Nextcard & NEXCARD/MASTERTRUST went bely up, given to NEXCARD/MASTERTRUST, showing up twice on credit report Omaha Nebraska

*Author of original report: Some minor mistakes to clarify.

*Author of original report: Some minor mistakes to clarify.

*Author of original report: Some minor mistakes to clarify.

*Consumer Suggestion: Jes, this is easy to fix, and beat, but there is 1 potential problem

*Consumer Suggestion: Jes, this is easy to fix, and beat, but there is 1 potential problem

*Consumer Suggestion: Jes, this is easy to fix, and beat, but there is 1 potential problem

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I defaulted on my payments when I moved to another country and was no longer able to make payments toward this debt.

I have one entry showing up as Nextcard, but only on Transunion and Equifax.

Past Due:
High Balance: $4954
Terms:
Limit: $4500
Payment: $135
Opened: 08/01/2000
Reported: 08/01/2002
Responsibility: Individual

It's showing as 30 days late as of June, 2002, even though I moved in February 2002 so that's when the last payment would have been. On Transunion, it is showing as closed, but on Equifax, it is showing as an *open* account. The pay status shows as "90 days late." Everything I have read has showed that Nextcard went belly up in 2002, so how can the account still be open?

The next incidence of this debt is as follows, BUT, is only showing up on Experian and Equifax.
Past Due: $5373
High Balance: $5373
Terms:
Limit:
Payment: $0
Opened: 08/2000
Reported: 01/13/2006
Responsibility: Individual

Now, this one shows as "Collection/Chargeoff" on the pay status. As far as I can tell, this one wasn't ever sent to a collection agency.

Now, I know these are both the same account, as the visible account number before the XXXXXs is the same except that one number is different.

The original time of default for these should be Match, 2002, since the last payment would have been made in either January or February of 2002.

The Wisconsin statute of limitations is 7 years, and in Texas, it is 4 years (which is where the debt occured).

Because this card is reported twice on my account, my credit score is tanked.

Can I write to the credit reporting bureaus to ask to have these removed from my credit report? Nextcard no longer exists, and the other is a charge off. It's been well beyond 4 years for the statute of limitations for this debt. If I have to wait for Wisconsin law, though I have only lived here for 3 months, then it will be June that is the earliest that I can see them drop off.

Please, can anyone offer me advice?

Jes
Eau Claire, Wisconsin
U.S.A.

This report was posted on Ripoff Report on 01/22/2008 12:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/Nextcard-NEXCARDMASTERTRUST/Omaha-Nebraska-68102/Nextcard-NEXCARDMASTERTRUST-went-bely-up-given-to-NEXCARDMASTERTRUST-showing-up-twic-302234. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Some minor mistakes to clarify.

AUTHOR: Jes - (U.S.A.)

Sorry, I made a mistake above. The Wisconsin statute of limitations is 6 year for contracts, so within the next month or two, they can't do anything.

I haven't told anyone I was out of the country and I don't intend to as I realized that would probably be a bad idea.

I realize it is "only two years" before it drops off, but two years is a long time to not be able to get a car loan or a decent credit card.
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#2 Author of original report

Some minor mistakes to clarify.

AUTHOR: Jes - (U.S.A.)

Sorry, I made a mistake above. The Wisconsin statute of limitations is 6 year for contracts, so within the next month or two, they can't do anything.

I haven't told anyone I was out of the country and I don't intend to as I realized that would probably be a bad idea.

I realize it is "only two years" before it drops off, but two years is a long time to not be able to get a car loan or a decent credit card.
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#3 Author of original report

Some minor mistakes to clarify.

AUTHOR: Jes - (U.S.A.)

Sorry, I made a mistake above. The Wisconsin statute of limitations is 6 year for contracts, so within the next month or two, they can't do anything.

I haven't told anyone I was out of the country and I don't intend to as I realized that would probably be a bad idea.

I realize it is "only two years" before it drops off, but two years is a long time to not be able to get a car loan or a decent credit card.
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#4 Consumer Suggestion

Jes, this is easy to fix, and beat, but there is 1 potential problem

AUTHOR: Steve - (U.S.A.)

Jes,

First, the potential problem. DO NOT bring up the fact that you were out of the country. This could provide for "tolling" of the SOL. Do not even admit you were living outside the country. If they bring it up, you tell them it was simply a vacation and you maintained a residence in TX the whole time!

The fact that they went belly up works in your favor, as the fed gov't is the trustee for those accounts. They could care less if they get collected.

Also in your favor is the fact that they are reporting differently to the 3 major credit bureaus.

DO NOT DISPUTE THIS DEBT AT THIS TIME!! LET IT GO!!

The small hit you are taking on your credit report because of this item right now is nothing compared to the hit you will take in court costs and legal fees if you wake up that sleeping bear.

LET IT GO! You only have 2 years until it rolls off your reports and is past SOL in WI too. Wait until then to do any disputes unless you are served with a summons.
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#5 Consumer Suggestion

Jes, this is easy to fix, and beat, but there is 1 potential problem

AUTHOR: Steve - (U.S.A.)

Jes,

First, the potential problem. DO NOT bring up the fact that you were out of the country. This could provide for "tolling" of the SOL. Do not even admit you were living outside the country. If they bring it up, you tell them it was simply a vacation and you maintained a residence in TX the whole time!

The fact that they went belly up works in your favor, as the fed gov't is the trustee for those accounts. They could care less if they get collected.

Also in your favor is the fact that they are reporting differently to the 3 major credit bureaus.

DO NOT DISPUTE THIS DEBT AT THIS TIME!! LET IT GO!!

The small hit you are taking on your credit report because of this item right now is nothing compared to the hit you will take in court costs and legal fees if you wake up that sleeping bear.

LET IT GO! You only have 2 years until it rolls off your reports and is past SOL in WI too. Wait until then to do any disputes unless you are served with a summons.
Respond to this report!
What's this?

#6 Consumer Suggestion

Jes, this is easy to fix, and beat, but there is 1 potential problem

AUTHOR: Steve - (U.S.A.)

Jes,

First, the potential problem. DO NOT bring up the fact that you were out of the country. This could provide for "tolling" of the SOL. Do not even admit you were living outside the country. If they bring it up, you tell them it was simply a vacation and you maintained a residence in TX the whole time!

The fact that they went belly up works in your favor, as the fed gov't is the trustee for those accounts. They could care less if they get collected.

Also in your favor is the fact that they are reporting differently to the 3 major credit bureaus.

DO NOT DISPUTE THIS DEBT AT THIS TIME!! LET IT GO!!

The small hit you are taking on your credit report because of this item right now is nothing compared to the hit you will take in court costs and legal fees if you wake up that sleeping bear.

LET IT GO! You only have 2 years until it rolls off your reports and is past SOL in WI too. Wait until then to do any disputes unless you are served with a summons.
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