FTC, CompuCredit, Mary & Forward Flow

First off, I want to thank you for a great and informative site. I’ve learned a lot from it.

My question is in June, 2008 the F.T.C. filed suit against Compucredit for deceptive practices. I was one of the consumers affected by this ruling because I held an Aspen Mastercard during that time frame.

Compucredit was ordered to remove the tradeline from all three consumer report and, if my reading is correct, I believe it included debt collectors too!

Compucredit did remove the tradelines from all three of my reports but now a collection agency called Midland Credit Management has bought the account and is attempting to collect. Is there a grey area here?

I’m not sure whether to debt validate M.C.M. or send them a copy of the F.T.C’s order and insist that they remove it.

Any help would be greatly appreciated.

Mary

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Hi Mary,

Here is the December 19, 2008 Stipulation.

A cursory view of it on page eleven states that redacting the tradeline applies to accounts “that have charged off and have a zero balance or a net credit balance as a result of the credits issued pursuant to the Order…” 

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.