Compucredit - Fingerhut - Jefferson Capital ripoff paid but company does not recognize as paid Saint Cloud Minnesota

The trouble with a crooked junk debt buyer is that they will "verify" the debt to the credit bureaus, whether or not it is valid. In addition to disputing with the credit bureaus, S needs to also have Compucredit/JC validate the "debt"...something that they cannot do.

I suggest a letter such as the one below:

Your address
Date

Junk Debt Buyer
Their Address

Re: (Their reference #)

Please be advised that this "debt" referenced above does NOT belong to me.

In accordance with Section 809-Validating Debts of the Fair Debt Collection Practices Act, I respectfully request that you provide to me, in writing, the following:

1. Explain and show me how you calculate what you say I owe.

2. Provide me with copies of any papers that show that I agreed to pay what you say I owe.

I have disputed this debt, therefore, until validated, you know your information concerning this debt is inaccurate. Thus, if you have already reported this debt to any credit reporting agency, then you must immediately inform them that this debt is in dispute. Reporting information that you know is inaccurate of failing to report as disputed violates the FCRA e1681s-2. If you do not own the rights to this debt, please send a copy of this dispute letter to the original creditor, so that they will have documentation that they will be aware that this remains in dispute. I do NOT deal with collection agencies or debt buyers, so if there is an issue, it will be resolved with the original creditor.

Finally, in accordance with section 805 (c )Ceasing Collections, of the FDCA, please do not contact me regarding this, except by official mail and then only to inform me that your collection efforts are being terminated or that you are taking specific actions allowed by law.

Your cooperation anticipated and appreciated.

Very truly yours,


Many of the JDBs will not accept Certified Mail now, or will let it go unclaimed. However, you can still send it USPS Priority Mail (with signature confirmation) or FedEx letter. If you have a fax # for them, also fax this, as you have additional documentation with your fax confirmation.

Compucredit/jefferson Capital was recently sold and many of their already desperate collectors will be getting their walking papers:

Jefferson Capital Agrees to Sell Assets for $143 Million

ATLANTA, GA -- (MARKET WIRE) -- 06/07/2005 -- Jefferson Capital, a Minnesota-based subsidiary of CompuCredit Corporation (NASDAQ: CCRT), announced today the execution of an agreement to sell a portfolio of charged-off credit card receivables having a face amount of approximately $2.9 billion to Encore Capital Group, Inc. (NASDAQ: ECPG), a leading accounts receivable management firm, and to sell $3.25 billion in face amount of its future charged-off credit card receivable acquisitions to Encore at established pricing over the next five years. As consideration for this transaction, Jefferson Capital received approximately $143 million in cash at closing.

Also as part of the transaction, Encore will be offering employment to approximately 120 of CompuCredit's 345 Minnesota-based employees who have previously provided servicing for the receivables sold to Encore. Encore has also signed a five-year agreement to provide substantial ongoing referral volumes for Jefferson Capital's balance transfer program and extended for the next two years an agreement under which Encore sells Chapter 13 bankruptcies to Jefferson Capital.

"We are very pleased with the terms of this agreement and look forward to a mutually beneficial long-term partnership with one of the largest debt buyers in the marketplace," said David G. Hanna, Chairman and CEO of CompuCredit. "This announcement strengthens Jefferson Capital's ability to deploy CompuCredit's capital in what we expect to be high growth areas where we have established a sustainable competitive advantage, namely our balance transfer and Chapter 13 bankruptcy bad debt purchases."

"We are proud of the operation we built, and it is gratifying to have our success validated by such a highly regarded company as Encore," said David M. Burton, Chief Operating Officer of Jefferson Capital. "We are excited to begin our strategic alliance with Encore, as it will provide substantial long-term growth for our fast growing specialized charge-off account acquisition platform. We look forward to continuing to make meaningful contributions to the success of CompuCredit."

Encore Capital Group, Inc. is a systems-driven purchaser and manager of charged-off consumer receivable portfolios. More information on the company can be found at http://www.encorecapitalgroup.com/.

The part about "Chapter 13" bad debt purchases is a little scary. Does that mean that in spite of Chapter 13 "protection", they stll go after the consumer?

Equifax, Experian and TransUnion all have dispute resolution options on thier websites. Dispute the debt directly through them. They are responsible to prove the debt is valid. This will normally remove the items from your credit.

If this is not successful, send a letter to the creditor showing your payment. Do not make threats in this letter, just show them the proof that the payment was made.

If this is still not successful, talk to an attorney.

Good luck