I hope you guys can help! I worked hard to clean up my credit report and was able to buy a house this year! exactly one month later I got a call from a junk debt buyer..they bought a $400 cc debt from a co that never validated an old CC debt. I didn't push to fight the original debt because it wasn't effecting my score that much, being older. But they sold the debt and the new co is coming after me, has redated the debt - 1 month old debt now and has changed the acct numbers. Now the debt is being reported twice on my CR! One is 5 years old and one is 1 month old. My score took a 100 point dive!
I sent the JDB a CAD letter and have emails that show that they could not validated the debt. I disputed the debt with Experian, online...as soon as I hit enter, I got a message that said "already investigated - information verified."
What should I do now?
As far as I know, a collection agency or a junk debt buyer cannot re-age your debt until and unless you have made any payment towards the debt recently. You can send a debt validation letter by certified mail to the junk debt buyer, who has purchased your debt and if you do not get the debt validated from them, you can threaten them that you will complain to the Federal Trade Commission if they fail to remove their name from your credit report.
Hello mm2raleigh,
I believe that online disputes are almost pointless in most cases. If you want to dispute this with the credit bureaus you would be best to dispute it by mail and provide copies of all of the proof you have to back your claim.
If you take Carol's advice and send them out a dv letter and they don't verify the debt you could also try contacting your state attorney generals office, and the FTC, and the BBB! These companies need to be put in their place as too many consumers are not aware of their rights and will just allow these places to get away with this stuff.
credit
That was my question, too. If a Junk Buyer/OC cannot Validate a debt, then how can the CB's say it's "verified?" If the OP couldn't get proof of the debt, I don't the CB's could. (Just thinking outloud here.)
This is for very sure that these guys (collection agencies) are really sucking the blood of the person until the person faints.This is what i can conclude from this example.
So it is really a horrible remark from the experian. I agree with carol that you should threaten them for this act.
Thank you for your responses. I will send a snail mail dispute with copies of emails I've received from the JDB. They would not send letters and at the time were saying that I had to pay THAT DAY or go to court. I knew SOL was up - even if it WAS my debt! So I didn't worry. If they'd hit my credit report one month earlier I would not have been able to buy my house!! I get sick to my stomach when I think of all the people that this HAS happened to. then to have the CA obviously ignore a dispute request! It's just not right...