Merchants' Credit Guide Co
Re-Aged An Account And Illegally Reported Negative Info to Credit Bureaus Ripoff

Merchants' Credit Guide sent me a letter in January stating that they "represent the above client, CFB Financial III LLC who has purchased your defaulted account referenced above." The original creditor was listed as Household Bank. I was informed by Merchants' that I owed $1336.62 and they offered me the standard 3 repayment options that they have offered others on this board. I have never held an account with Household Bank.

After a quick panic attack (because I have had no delinquent accounts since 1999), I realized that this must be some junk-debt buyer who bought my old account from a credit card that had possibly been sold several times. I will admit that I had defaulted on that card to the tune of about $600 back in 1999 and it had been on my credit record until about 2002. Mind you, the DOLA on said card was also in 1999.

I got online and checked my credit record from all 3 bureaus and these bastards had RE-AGED this account to 11/05 and dinged my credit on 2 bureaus. I contacted both bureaus and requested that the items be investigated and deleted, which they were because obviously, Merchants' couldn't come up with any original paperwork as required or if they did, the credit bureaus realized that the SOL had long expired. I thought at that point that I was done with Merchants'.

I should have filed suit against them at that time because in a letter that I've recieved dated 01/05/07, they are demanding the same $1336.62 again! So far, I don't see them having reported this on my credit record again, nor do I see an inquiry from them, but I have a sinking feeling that I'm going to have to deal with it yet again. I've filed a complaint with the Federal Trade Commission and I've sent a letter to the Attorney General in Illinois.

If this ends up on my credit record again, I WILL be filing suit. These people are unconscionable and need to be stopped. If anyone knows of a class action suit against them, let me know as I am totally on board.

Company: Merchants' Credit Guide Co
Country: USA
State: Illinois
City: Chicago
Address: 223 West Jackson Blvd
Phone: 8882494134

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