In 1999, due to financial dificulties i relinqueshed owner voluntarily of a vehicle financed by Long Beach Acceptance Corporation. I did not recieve any information from them as to the final disposition of the vehicle and for three (3) years my credit report reflected a 0 balance owing on this account.
On 8/16/01 I purchased a new vehicle and one of the inquiries is Long Beach Acceptance Corporation. I did not recieve nor heard anything from them at that time. Beginning 12/01 I started to contact all of the negative credit accounts showing a balance owing on my credit history. Long Beach Acceptance still shows as of 5/3/02 a 0 balance owing. I have sucessfully negotiated and/or paid the balance in full to each of my creditors showing a balance on my credit history.
On Monday 5/13/02 I recieved a telephone call at 10:00 am pst. From a recovery reprentative Bill D'elia who informed me I owed Long Beach Acceptance $5,000 and I need to make arrangements to pay today. I informed Bill this is the first I heard of this and I asked why wasn't I notified 3 years ago about this balance owing.
I also spoke to Jim Holmes Collection Manager California office Long Beach Acceptance, and Stephen Prough chairman long beach acceptance. Jim and Stephen both advised me that for three years I have had a "free ride" on my credit report and Jim Holmes even stated "have you checked your credit report lately?" and now "it is time for me to pay or be sued."
I have never received any notification of any "balance" owing, no collection calls, no written dunning letters stating I owed anything to Long Beach Acceptance Corporation in 3 years since the vehicle was returned.By law I or anyone on the contract must sign for a deficiency notice statement (form1098) and active collections must be initiated within one (1) year of the sale of the vehicle I nor my wife have ever received such a notice norhave we recieved phone calls, letters or any communications of any kind from Long Beach Acceptance Corporation.
The reason for cleaning up my derogatory credit is because I am purchasing a home. Had Long Beach Acceptance Corp showed up as a balance owing I would have negotiated a settlement or payoff, now they are threatening me with collections 3 years after the fact and with use of malicious intent to add further derogatory credit history that would prevent our opportunity for home ownership.
Rudy
Las Vegas, Nevada
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