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Question By
Ezk1821

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37 People Helped
"commonwealth finance" Who are they?
They just showed up under my C-Karma Alerts as a new opened account. I've never heard of them. I haven't opened but one new account over a month ago, and that was with Capital one. Anyway, my score dropped a few points and I am trying to get down to the issue.

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2 Contributions
40 People Helped

Commonwealth

Helpful to 40 out of 41 people

I just Google them. I will be pursuing a lawsuit against them, as they are fraudulent. Find me and others on Google maps reviews. Maybee we can get some mainstream media to expose these type of thieves, and even prevent this from happening in the future.

Reply by
Mikebuck90

1 Contribution
25 People Helped
Helpful to 25 out of 26 people

I am down with you on helping with some sort of legal action. They put 2 items on my account from an ER in Kenosha, WI. I have never even lived there. Let alone went to an ER. After reading all these statements from people on numerous sites. I do not understand how Transunion and Equifax even accept their claims that people owe them money. This has got to be some sort of ID fraud laws.

Reply by
Byrd420

1 Contribution
4 People Helped
Helpful to 4 out of 4 people

They got me also 2160 how do I file a lawsuit against them

1 Contribution
13 People Helped

Helpful to 13 out of 13 people

Really, what is the connection. I recently was approved for a loan with Capitol One as well. I've been working on my credit for some time, paid what I knew about, including my most recent hospital bills before they even went to collections.

Now I'm driving a new car and had no derrogatory marks. I was worry free. But I, on a whim, decided to check c-karma to see how my new capital one account is affecting it. To my surprise I see my score dropped by nearly 100 points, one says "fair" and another says "needs work". Yet I have worked so hard. I've received no notification whatsoever, not in writing or even a phone call, just these dings on my credit.

I did a search for this Commonweath, and the first result is right back here to c-karma. I was hoping to find out who they are and how they can report to my credit before even notifying me of a debt. I keep seeing people mentioning Capital One. That's not the collection account, but I did apply and got approved. I read most of this thread and still don't understand the connection, but I certainly am scared to apply for anything else credit related.

Our common factor is that we all applied for Capitol One but saw this on our credit instead. That's not what I thought I'd find when I did a search for this Commonwealth.

Dispute with TU on c-karma was easy. Equifax took me out of c-karma and directly to equifax where I could dispute there. I also see the original creditor on both accounts is the same and it also shows "date of first delquency" which also happens to be the same, but the amounts very different. The 'DOFD' is 7 years and 1 month old. Isn't that past the SOL?

I'm glad there's a community here on c-karma to discuss this and find that we all had similar experiences.

Reply by
tj1424

3 Contributions
5 People Helped
Helpful to 2 out of 2 people

Yep!....stay on it.

Reply by
Ahutton90

1 Contribution
0 People Helped

Helpful response. How did you or can I dispute their claim like you did on Equifax site, as you mentioned. Need a little help fighting them as well. Similar story as yours, please reply if you have a sec thanks in advance.

1 Contribution
6 People Helped

Commonwealth

Helpful to 6 out of 6 people

Same here, commonwealth opened a new account in march, I also looked it up. This should not show up as a new account similar to a new credit card. I'm notifying the credit bureaus this is not a new account🈸

1 Contribution
17 People Helped

Commonwealth-

Helpful to 17 out of 17 people

I have disputed this once before. It is very aggravating that it is back on my credit, affecting my credit score. I also got a car loan with capital one a while ago. I also get credit card offers from them every week in the mail. Now that I know this is the connection to this Commonwealth company. I will never give capital one my business ever again. This is so irritating to have to constantly dispute things that should not be there to begin with. I'm really annoyed.

1 Contribution
1 Person Helped

Same here

Helpful to 1 out of 1 people

My only difference is i paid into my credit card and got a secured card. Every single month my credit score goes up I receive a new 800-1000$ bill from these scammers. I havent a filed a complaint with the bbb and the fbcp or however it’s spelled. This is getting ridiculous. Every time my score goes up they slap on another 1000$ bill as if they’re literally monitoring my credit score.

Top Contributor
17526 Contributions
5174 People Helped

Get all 3 credit reports!

Helpful to 92 out of 101 people

Go to annualcreditreport.com and order all 3 credit reports.  You want to go over them carefully and thoroughly, noting all errors (and Commonwealth Financial is one).  You will file a dispute on each error with the credit bureau(s) reporting same.  They have to investigate and either verify or delete these items.  It is not unusual to have mistakes on credit reports, which is why we are advised to check them every year to make sure all data is correct.

I did an online search for Commonwealth Financial and they are a collection agency, which we all prefer to avoid.  Just dispute this entry if it shows up and, should they contact you, send back a letter requesting validation of the debt, which most collection agencies can not do, so the account has to disappear.

Reply by
Ezk1821

1 Contribution
37 People Helped
Helpful to 37 out of 40 people

I filed a dispute with transunion yesterday after doing more research on this collector. Recieved an update this morning that their investigation was complete, and that "Commonwealth" has been deleted. Added 27 points to my score alone... Amazing what an error can do to tumble your score.

1 Contribution
19 People Helped

Collection Agency

Helpful to 19 out of 22 people

Researching Commonwealth after it appeared on my report also brought me here and it reveals the unethical practice of the company. Commonwealth seemingly buys collections accounts that are very close to "falling off" your credit report and creates a new account therefore it will negatively affect your credit. It's a very unethical practice unfortunately, it's legal but attempt to dispute.

Reply by
Bbgirl007

2 Contributions
2 People Helped
Helpful to 2 out of 2 people

How do we get rid of it ! 

1 Contribution
5 People Helped

This crap is getting old...

Helpful to 5 out of 6 people

Yep....today, Valentine's Day, checked credit, score went down. Commonwealth Financial, says original creditor was a "Gulfport emergency physician"...while I did grow up in Mississippi.....I haven't been operated on since having my tonsils removed in the early 70's.....this whole credit b.s. blows....it doesn't matter what you do, what steps you take to improve, how much time goes by with on time payments....rebounding takes years....I have $hit on my credit report, placed there by the lady who used to monitor my child support payments. She couldn't even spell the name of the company I worked for at the time correctly, and now, here it is, years later, children are grown, arrearages were taken care of, and this misspelled fictitious company and the info,from the state of Mississippi are still there to this day....There's so much that can be entered to hurt people, but there's no one responsible to go in and clean up THEIR mess.....I gave up fighting this $hit long ago....Hell I get emails from a Cadillac dealership stating its time for my service, thanks you for your purchase, etc. Nevere ever ever owned a Cadillac. Supposedly, few years ago I applied for a loan for a house.....nope, never did that either. Have never attempted to even think about buying a house.

it doesn't surprise me anymore what shows up...I have to look at all this dumb $hit and laugh....People are stupid.....They used to say the pen is mightier than the sword.....well now it's the keyboard....because some dip**** somewhere, didn't want to take the time to verify any ****ed thing, enter what they want....this is the result you get. It doesn't help that I have a very generic name either. In the early 90's, while stationed at the little itty bitty post over in Germany, I found out there were SIX of me there alone....on that note, almost got charged for some fatigues that I never ever purchased as it was my FIRST visit to the clothing store, only because the girl didn't check the social security number....

can you imagine the mistakes and heartaches and grief caused to some folks from data entry errors alone?.....

Transunion Equifax and Experian can all kiss my a$$.......they all have different information about me as well......the TRUTH about me is ONE issue, ONE story, and ONE statement of facts....not this jumbled up cluster**** of information they all have.....

forgive my my language everyone but this credit b.s. is just not a good topic for some folks....

1 Contribution
6 People Helped

Questionable practices have been common

Helpful to 6 out of 9 people

This might be of interest to anyone who has dealt with or plan on dealing with Commonwealth Financial Systems...

https://casetext.com/case/jordan-v-commonwealth-financial-systems

2 Contributions
1 Person Helped

NatalieC

Helpful to 1 out of 1 people

I had a conversation with these people, and they are definitely predators.  They purchased a 4 year old incorrect bill from the hospital I had received (a coding error that the hospital refused to correct). I called and told them since this appears on my CR, let's deal with it and get it done.  They wanted to offer me a deal, considering that it was AN ERROR, I figured that any amount would be agreeable to them.  They would not accept my offer, which was a little more than half and it would be paid cash on the spot.  They refused but would come back to me with an offer, but when they call again- I will be continuing to dispute but next time I make an offer it will be much less.  Since it is the only derogatory thing on my credit, I will continue to dispute until I get it resolved to MY SATISFACTION.  Take the power back people!

Reply by
tj1424

3 Contributions
5 People Helped
Helpful to 3 out of 4 people

WOW.............that is crazy.  They appear to be fradulent.  I spoke with a rep as well and had a similar convo.  Keep at it!  All 3 listings are now removed as of 1/2018.  I am constantly reviewing my report in hopes that it does not return.  It better not! ;-)

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