We have a company Sherman Acquisitions, LLP P.O. Box 740281 Houston, TX 77274, that has attached itself to us stating that we owe them $1000 something dollars for a bad debt account from Home Depot.
They had already sent this to the Credit Reporting Agency's (CRA's) when we were first contacted. We did have an account with Home Depot, and I told them this, but we paid it off. I gave them the information and they said the account numbers did not match and the date the account was opened is different. They are stating it was opened in 1997, when my husband opened his in 2000. I have all the paperwork, receipts, and payments of the account we know about, but nothing that we do not know. I sent this company a certified letter stating that I needed 'validation' that this is our account.
I asked for proof like a credit application or receipts with some type of signature or purchases that were made. They stated in order to do that they would have to get an attorney involved. After they received my certified letter they sent me a letter that they would investigate it. I called a month later and they said the information was removed from the credit report as of 3/1/04. As of 4/27/04 it is still there.
I called again today 4/28/04 and they stated they would not remove it until they could prove that it was not our account. I asked could they prove it is??? Anyway they said it could take anywhere from 3 months to a year to investigate and it would remain until the final review came out. My question is can they do this? I found some information on the FTC website that a company does that fraudulently then they could be sued for up to $1000 plus legal fees.
All I wanted at first was for them to get me proof, which I believe they cannot find and to get rid of it. I have spent a lot of time investigating what to do and it seems that I have come to an end.
Another important part of this is that when they called they had an El Paso, TX address and an employer that we have never heard of. This information is now on my husband's credit report as well. I believe they had the wrong person and we were just easy to find. The KS credit Bureau said that companies that purchase this type of bad debt usually do not have all the information, but do have access to the CRA's so they can look up all the people with this name and get a number of someone that is easy to find.
They did state at first we were hard to find. (Probably because they were looking for the other Stephen Rankin). I had also asked the CRA's to launch an investigation along with the letter that I sent this company, but each one called this company and asked if it was there account, they said yes, and said the investigation was done.
We are trying to refinance our home, but this is showing up as a collection account over 120 days. What is my next step? I am thinking of obtaining legal counsel, but it is only $1000 or so (they are adding interest and late charges to it) but I do not want to give them the money. At this point I have spent a lot of time I want something done so they cannot do this to other people, which they evidently can. I found a letter to this company of a Texas Credit Bureau website for the exact same reason I am disputing. Coincidence??
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