First question I got is I'm looking to buy a new/used car is going through the lending tree? Hoping for any response. Another quick question... I have been the silent reader who never posts any questions but I finally decided to sign up after scratching my head too often..............

I hope someone can help and has time for a long story...A collection agency filed a stipulation of judgement with the court, advising I owed their client x number of dollars stemming from a Lending Tree loan unpaid for six consecutive months. An elaborate summons was given to me that required my immediate response. I do not detest the debt but there are several good reasons why the debt went unpaid so long, though I do not know how much weight they hold legally. The financial obligation to pay was verbally agreed to be handled by my parents as a 'gift' while I financed my wedding. Unfortunately, they did not fulfill this, as I found out too late (the Lending Tree loan is in my name exclusively). Secondly, the creditor did not send me monthly bills to 'remind' me of the debt.

I agreed with the collections agency to pay the Lending Tree loan off in 8 months (this is in fact earlier than the original Lending Tree loan maturity date if still in good status)..

The agreement was that I would pay the bill and in return the collections agency would dismiss the stipulation of judgement once the last payment was cleared. We did not discuss anything related to my credit report, big mistake #1. However, the creditor, not the collections agency, was reporting negative data to the credit bureau. When I checked this, the Lending Tree loan was charged off. The collections agency would only report back to the credtor and foward the monies to them..

During the course of the payment schedule, the collection agency was not forwarding the monies to the creditor on time, sometimes letting 1-2 months slip by. When the collection agency received my last payment, they acknoledged receipt of it but it took 5 months for the check to be processed. Meanwhile, my credit record still shows a chargeoff and a substantial amount of monies owed..

Is there anything legally I can do about the fact one of them held onto this check for so long, and is there some loophole to remove this negative, and currently incorrect data from my report based on the above circumstances?.

Thanks for your patience and help in advance...