Charged Off WFNNB Account on My Credit Report – Debt Validation Sent – Need Help.

Charged Off WFNNB Account on My Credit Report – Debt Validation Sent – Need Help.

I learned a charge card was opened in my name after the $62 total had accrued to $1000 and was charged off. I disputed this with the original company, WFNNB and ANN TAYLOR, but without luck. I sent a debt validation letter to Morgan & Associates because they contacted me via letter. I sent the letter USPS, return receipt early March (it was signed for) and never received a response. My credit file shows a charge off with a balance of $282, what can I do to rectify this situation?

Debt validation letter sent in March 2012, never received a response. What should I do next?

—MH

From the background you provided, it sounds as if you did not open the account with Ann Taylor and WFNNB that Morgan and Associates is trying to collect on. If you did not open the account, do you know who did? The answer to that question and your personal concerns that may relate to the answer would change the feedback I have for you considerably.

If I start my feedback with the assumption you are stuck with the account where it is right now and will not be filing reports of identity theft, I still need some more detail to give you a good response.

Is the account showing up as a charge off entry on your credit report by WFNNB, or is there an entry from Morgan and Associates the debt collector?

Whether the account is rightfully associated with you or not, accounts that go bad with missed payments long enough do get charged off for accounting purposes and this charge off will generally be reported by the creditor.

Can you tell me more about what you went through when you said above that you disputed the account with the creditor already, but had no luck?

Morgan and Associates not responding to your validation request is not uncommon. Many debt collectors who receive these types of request don’t respond to them. Many debt collectors cannot access the type of information need to back up whether they are collecting a legitimate debt, especially if Morgan and Associates is collecting for a debt buyer. At this point, unless you tell me in reply that Morgan and Assoc are also reporting something to the credit agencies, or that they have continued to try to collect from you without responding to your validation request, I would say they are out of the picture.

Dealing with the charge off entry by WFNNB would involve:

  • Filing a police report and signing an affidavit regarding your being a victim of identity theft.
  • Disputing the entry as not yours (if it’s not) directly with the credit reporting bureaus, and perhaps with WFNNB too.
  • Depending on how you respond to the questions above, knocking down the debt for as little a settlement as possible so that the charge off entry is resolved, showing a zero balance owed, and moving on.

If you can respond to my above questions by posting answers in the comment section below, I will be able to provide some additional feedback and things to consider.

Anyone dealing with a WFNNB collection account, or with Morgan and Associates collecting a debt, is welcome to post questions and concerns in the comments below for feedback.

About Michael Bovee

Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry, and is a regular contributor to several personal finance websites.