Hollywood Video / Unfair Collections Submission
I recently recieved a credit monitoring alert about a collections account that just showed up. When I investigated, I found out that Hollywood Video apparently turned me into a collections agency. I had no knowledge of any balance owed to this company, and I have never recieved a phone call, email, or letter of an issue with my account. In fact, they even had a credit card on file for any account charges. My credit score has been adversely affected (temporarily) and I am left dealing with a collections agency (National Credit Solutions) that so far has been impossible to get a hold of (I am on hold for several minutes, and then it goes to a message and hangs up on me). How can a company that never sends you a letter, a financial statement or notification of any type be allowed to turn a customer into a collections agency and negatively affect their credit? There are so many factors these days that are based on credit scores, including financial companies who randomly monitor and adjust rates based on your current credit score. I really need to understand how this is legal, if anyone else is experiencing the same issue with Hollywood Video (the credit monitoring company indicated they have seen a surge in complaints), and some assistance resolving this (not sure if their is any corporate Hollywood Video contacts left anymore or bankruptcy constituency. This also underscores the importance of credit monitoring services- I would have never even known had it not been for my Experian credit monitoring (although they kind of contribute to the problem to begin with by just allowing any company to negatively affect your score)...
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