Over the last 6 months, there has been 3 different collection agencies that have sent me letters claiming that I owe a debt from 1991 while living in Texas. Each agency has written that the original claim was with Beneficial Financial and that the agency has purchased the original claim.
The first agency that I was contacted by, is Merchants Credit Guide, that was in early Nov. 2007. I disputed their claim. I sent a registered, return receipt letter to them. Within a month, I received a letter from Merchants Credit Guide stating that they no longer were claiming that I owed the debt. In January, 2008, I received a letter from Asset Acceptance LLC, demanding payment for the same account. When I called and talked to Asset Acceptance, that told me that they had bought the account from Merchants Credit Guide Co.
Again, I sent a registered, return receipt letter to Asset Acceptance LLC , disputing their claim. In January, 2008, I received a letter from Asset Acceptance stating that the account is closed and is no longer handled by their office. They also wrote that the account is not currently being reported to the credit bureaus.
This past week, I received a letter from Lloyd & McDaniel The Creditors Law Firm LLC. They wrote that they have been retained by Asset Acceptance Assignee Beneficial Financial to collect the same debt that the other two collection agencies that I disputed the dept with. Apparently I am wrong, but I had thought there was a Federal rule that collection agency could not resell to another collection agency, a debt that had been disputed and was not able to be proven. I do not know how Lloyd & McDaniel will respond to my letter of dispute that I will send them, but does anyone have any suggestions on how to get this never ending broken record to stop?
As I have written to the other collection agencies, I had never had any dealings with Beneficial Financial. I told each of the agencies that this 1991 debt is not mine. It seems that even if Lloyd & McDaniel do not pursue this any further after sending a 3rd letter of dispute to a collection agency, that Lloyd and McDaniel will only sell this account to another collection agency. How do I stop this?
Vine Grove, Kentucky