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sorie
Joined: 01 Jan 2009
sorie's page
Posts: 14
Location: GERMANY
681 Magic Points
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Subject: Debt Validation after you dispute it online
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Thu Jan 01, 2009 3:44 pm
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Hello again, another question
I have one last debt that has been sold twice from the OC to a CA to a CA I have disputed this with Experian online twice; the results say it stands and should but should be removed in May. Should I try a Debt Validation letter to the latest CA?
The account was from 2000 and the OC does not show up on my credit report at all..
could this be a case of illegally re-aging the account?
Again thank you all for the help. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 165
Location: McKinney, TX
219 Magic Points
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Thu Jan 01, 2009 7:14 pm
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Who is the account with...? I might be able to answer that for you...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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Guest
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Thu Jan 01, 2009 7:20 pm
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Thanks for your help.
IT is with Palisades Collection LLC, before that asset acceptance LLC and before that Washington Mutual (OC)
I think maybe First Resolution had there hands on it but it shows current closed on my report.
As well I sent the CA Palisades a Debt settlement letter for less than the amount asked by them, but no reply yet it has been almost a month now. and it was delivery confirmation. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Fri Jan 02, 2009 4:14 am
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| Hey, DOC.....even if you 'Dispute' something on line, is it a good idea to send something to the CB's, as well? Would that give you a 'better' chance of getting the item removed? |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1308
28489 Magic Points
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Fri Jan 02, 2009 6:53 am
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The negative listing stay in your credit report for seven years and six months from the date you have made the last payment towards the debt. Now, if your last payment towards the debt has already crossed seven years and six months, then it should be removed by now. I don't think that you need to ask for debt validation because the SOL on the debt must be over by now and you need not pay off the outstanding debt.
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Carol |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Fri Jan 02, 2009 7:10 am
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A collection agency can sell the debt to another collection agency and it does not mean that your account is re-aged. Normally when a CA fails to validate a debt, it loses its right to collect the debt and sell off the debt to another CA who tries to collect it. Now, until and unless the CA validates the debt he cannot legally start collecting the debt. Original creditor listing may or may not show in your credit report. If the OC sold off the debt before listing it on your credit report, then only the CA listing will show in your report.
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All the Best 
Justin |
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sorie
Joined: 01 Jan 2009
sorie's page
Posts: 14
Location: GERMANY
681 Magic Points
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Fri Jan 02, 2009 9:55 am
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I will send a DV to both the CA listed on my report for the same item, should they not be able to validate this, that is when I send the letter to the Credit bureau?
My credit report dispute said it will come off in may or june this year. But I don't no how they have verified it. |
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sorie
Joined: 01 Jan 2009
sorie's page
Posts: 14
Location: GERMANY
681 Magic Points
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Fri Jan 02, 2009 10:07 am
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I think I messed up though...
I sent the pay for delete before I sent the Debt validation, would it be right to send a DV now or wait till I hear from them? |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Fri Jan 02, 2009 12:14 pm
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| JUSTIN...should I sent a DV letter to the most recent CA's, on my CR ( reguardless of what the debt is)? I know a few debts, I have on there, the SOL already expired. |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1308
28489 Magic Points
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Sat Jan 03, 2009 7:32 am
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Hi sorie
Pay for deletion agreement is normally send after you send a debt validation letter and the creditor has properly validated your debt. We come to a pay for deletion agreement only when we are sure that we actually owe the debt to the creditor. But since you have already send both the pay for deletion agreement letter and the debt validation letter to the creditor, you should wait till the time the creditor validates the debt. The creditor must validate the debt within 30 days from the date of receipt of your letter else the creditor loses his right to collect the debt as per the Fair Debt Collection Practices Act.
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Carol |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Sat Jan 03, 2009 7:40 am
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As per the FDCPA, until and unless the creditor or the collection agency properly validates the debt, you need not make any payment towards the debt. Even if the creditor validates the debt but the Statute of Limitation on the debt has expired, you should not make even a small payment because if you make a payment after the SOL has expired, then the SOL rewinds and the creditor can sue you to recover the entire debt.
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All the Best
Justin |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Sat Jan 03, 2009 2:20 pm
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| I'm doing a few of those 'not paying it anymore' things, because a few debts, on my CR...the SOL has expired. I certainly don't want to Re-age the debt. So.....( see if I have this right..) if the SOL did expire, but the 7 years and 6 months isn't up yet, the CA CAN NOT 'come after' you? Hope my question is clear. |
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sorie
Joined: 01 Jan 2009
sorie's page
Posts: 14
Location: GERMANY
681 Magic Points
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Sun Jan 04, 2009 9:25 pm
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I guess I went and twisted this one all up then. If they can prove that it is mine with a DV letter, then I send the PFD, but that is it right they must delete it and not one of those soft deletes. Makes me just want to wait the few more months till the SOL is up.  |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Mon Jan 05, 2009 10:47 am
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If the collection agencies validate the debt within 30 days of receipt of your letter, you should immediately come to a repayment agreement to pay off the debt. You can send a pay for deletion agreement letter to the creditors if they validate your debt. Just sending statement of accounts for the outstanding debt is not a proper debt validation. Validating the debt means that the creditors need to provide you with a copy of the original signed form which you have signed when they have provided you the debt.
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All the Best
Justin |
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LearningFast
Joined: 22 Aug 2008
LearningFast's page
Posts: 15
428 Magic Points
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Tue Jan 06, 2009 4:07 pm
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| Justin: I did the same....Sent a DV letter to 2 different collection agencies. Neither on responded by sending me a copy of the signed form when the so called debt was obtained. 30 days has expired for them to send me these items. They only sent me computer print outs stating "We've confirmed this debt is yours"...."This is a request to collect a debt"...etc. What should I do now? |
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