How to go about this situation....

Question

Long story short I made a mistake and opened a title loan on one of my vehicles a few years back. I defaulted on the loan and never paid it back. Just Recently I got a letter asking pay them back in payments. I have the money in full to pay but would like to work on a PFD or even go to the Original Creditor and going around the collection agency.   Fast forward to today I would like to sell this vehicle but do not have the title and I would like to PFD Ad Astra Recovery for the title and possibly removal off transunion and Experian. How would you go about doing a PFD and getting the title back?I would like to do this as quickly as possible as it is easier to sell a car with a title in hand..  Here is what Experian and TU are Reporting. I would also like to avoid them reporting anything to Equifax as they are the onlt CRA that loves me.    **********Experian Shows *********** AD ASTRA RECOVERY SERVIC
Address: 3611 N RIDGE RD # 104 WICHITA, KS 67205
No phone number available
Account Number:XXXXX
Original CreditorPEEDY CASH 32
Status: Collection account. $1,165 past due as of Apr 2009. Status Details: This account is scheduled to continue on record until Apr 2013.This item was verified on Apr 2009 and remained unchanged.
Date Opened:02/2008
Reported Since: 05/2008
Date of Status: 05/2008
Last Reported: 04/2009
Type: Collection
Terms: 1 Months
Monthly Payment: $0
Responsibility: Individual
Credit Limit/Original Amount: $1,165
High Balance: NA
Recent Balance:
$1,165 as of 04/2009
Recent Payment: $0
Your Statement: Account information disputed by consumer (Meets requirement of
the Fair Credit Reporting Act).
Account History: Collection as of May 2008 to Apr 2009 ***************Transunion Shows********************Collection on debt to: 12 Speedy Cash 32
The collection agency "Ad Astra Rec" was hired to collect a debt of $1,165 originally owed to "12 Speedy Cash 32" on account
number "XXXXXX".
Collection agency Ad Astra Rec
Original balance $1,165
Current balance $1,165
Status Not Reported
Date assigned Feb 28, 2008
Date reported Feb 09, 2009
Date last active Not Reported
Date paid Not Reported
Date closed Not Reported
Original lender 12 Speedy Cash 32
Account number XXXXXX
Type of account Not Reported
Account holder Individual
Type of credit Not Reported
Payment status Not Reported
Largest past balance Not Reported
Amount past due Not Reported
Account descriptions Not ReportedMessage Edited by GLIGUY23 on 05-12-2009 07:12 PM

Answer 1

RobertEG wrote:
The first thing you have to determine is who now legally owns the debt.An OC can do one of two things to affect collection of a debt.  They can sell it to a CA, in which case they have NO more interest in the debt, or they can contract with a CA to collect on their behalf, and retain title to the debt.Who you can contact and negotiate with depends on who owns the debt.Contact the OC and see if they will negotiate with you.  If they will, and you reach an aqgreement with them, they must delete the CA account.  Otherwise, you will have to negotitate with the CA only.  And it is harder to get a CA to agree to a PFD than it is to get a PFD from an OC.I called Speedycash to getsome info from them. I didnt give them any personal info just told them... I received a letter from Ad Astra and was wondering if they are authorized to collect on your behaf. She said they are definetely authorized to collect on their behalf.  I then asked her... Can I just pay you guys the amount and not go through ad astra. She said I would have to call Ad Astra to make Payment Arrangements then come into their facility to pay the amount. I asked if she knew if I paid the amount in full would they remove any derrogetory information from my credit reports. She said that would be completely to Ad Astra.  I am going to call Ad Astra tomorrow and see if i can negotiate a pay for delete if i pay the amount in full.
I would go through the proper channels of sending a PFD letter instead of calling but I have a potential buyer for the car and I don't want to lose the sale on the car. I guess if all else fails I will pay in full then try goodwilling them. Does anyone have any other suggestions.