Report: #231838

Complaint Review: GE CAPITAL - MONEYBANK

  • Submitted: Sun, January 21, 2007
  • Updated: Wed, July 25, 2007
  • Reported By: colorado springs Colorado
    PO BOX 981426
    EL PASO, Texas


*Consumer Comment: It's easy to get that trade dropped

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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
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This report was posted on Ripoff Report on 01/21/2007 06:31 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

It's easy to get that trade dropped

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

If you are in the colletions/risk business you should know, the easiest way to get it off your bureaus. Dispute it with the credit reporting agencies. They'll probably drop it off after a few tries (If not the first one) because they will see the inconsistancies when they look at your account. Not to mention, the relationship between you and GE Money is over with, you paid the account, and it is closed, why would they bother to reply to the dispute. And of course, if they don't reply within 30 days.

By law, the trade must be deleted. Worst case scenario. If it was charged off in April 2001, April 2008 will be 7 years and it will drop off anyway. Oh, FYI. It didn't change hands, GE Money Bank has been JC Penney's lender for many many years, just a name change. Good Luck.
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