CA or OC which one??

[wannahouse]

Do you send a debt validation letter to? Do you do one first and then the other or what????????? Help!!!!!

Thanks!!!!!!!!!!!!!!!!!!!

[retmar]

You need to give more info as to what is going on. Leave out personal info. Also, include the State you are from as some State laws could apply that would help you.

[kb9tbq]

Wannahouse:

You should update your profile to reflect your state - that will be easier for others to know right off the bat.

Help to know a bit of you case here,

Last activity (to figure if you are still within the SOL)

Debt Validation always goes to the collection agency

But you might not want to send that depending on the SOL; same holds true for disputing with the credit reporting agency.

Much depends on your situation here.

[wannahouse]

Thanks guys, here's more information.

I am in Virginia.

This is from Experian

OC - First Nationa Bank of MArin

Date opened 4/1997

Last reported 1/2002

Revolving

Credit limit or original high balance - NA/$702

Recent balnce/Recent payment - 402as of 1-2002/$50

Status Account charged off/Past due 150 days $692 written off, $402 past due as off 1-2002

Verified and updated on 4-2003

This is from TU

OC - FNBOM

Profit and Loss writeoff

updated 5/2003

opened 4/1997

closed 3/1997

balance 403

most owed 703

past due 403

status as of 3/1997 charged off as bad debt

Firstpoint info Resources (EQ)

date opened 4/97

DOLA 1/98

high credit $692

Balance 402

Past due 402

date reported 5/03

The CA only shows on EX and TU right now, I saw it on Privacyguard. It is with Arrow financial - date opened 12/2002.

Let me know if you need anymore information, thanks so much for you help.

[wannahouse]

I just got a settlement letter from the CA for 50%, don't have the funds right now, and they want it by Aug. 28, and they offered the settlement so no deletion offered.

Anyway isn't it best to do validation then offer settlement myself for deletion?

Are they likely to settle later if I ignore this offer?

Thanks

[kb9tbq]

I am in Virginia.

This is from Experian

OC - First Nationa Bank of MArin

Date opened 4/1997

Last reported 1/2002

Revolving

Credit limit $702

Recent balnce/Recent payment - $402 as of 1-2002 / $50

Status Account charged off/Past due 150 days $692 written off, $402 past due as off 1-2002

Verified and updated on 4-2003

Was the last payment you made them on 1/2002 prior to charge off? This one looks to be in the statute of limitation.

This is from TU

OC - FNBOM

Profit and Loss writeoff

updated 5/2003

opened 4/1997

closed 3/1997

balance 403

most owed 703

past due 403

status as of 3/1997 charged off as bad debt

Is this the collection agency for the top one listed? That makes the original account look to be older / like there is come inconsitance on the dates the 2 are reporting.

Firstpoint info Resources (EQ)

date opened 4/97

DOLA 1/98

high credit $692

Balance 402

Past due 402

date reported 5/03

This one is out of the SOL

The CA only shows on EX and TU right now, I saw it on Privacyguard. It is with Arrow financial - date opened 12/2002.

[lizandjerry]

Are they likely to settle later if I ignore this offer?

Thanks

More than likely. In fact they will probably offer you a better one! Dont fret. They make you think that that's their final offer, but they'll keep going. In fact, if you dont have the money right now, you can send them a counteroffer in which you can specify that you will pay "xxx percent" and the settlement would be made in 3 payments of "your price here" for the next 3 consecutive months. I did it, and it worked

[wannahouse]

KB,

All of the info I listed are for the OC, I didn't list the CA info.

The payment was made after charge off, so would the account be out of SOL??

Do I send validation to both OC and CA?

Thanks

[wannahouse]

bump

[kb9tbq]

Having submitted payment after charge off does not re-set the SOL unless you specifically signed a new agreement. Just one payment does not constitute an agreement.

You would only send DV to the Collection Agency, it is of no use to DV a Creditor since they already have the key info to begin with.

What you can do by all means, is ask the Creditor Directly for a billing on this account with them including payment history and such. You can do this; and if possible negotiate payment directly with them & cut the collection agency out of the picture.

There are many options here, just how creative you are and what you want to accomplish. Like if you have the money or not at this time, if you don't that is a tough one, cause they can still take you to court should they see fit to.

Usually I would say, that if you know you don't have the means to pay at this time, then hold off disputing this account or contacting the creditor, try to wait out the SOL, or until you have a period of time to pay them.

Unless you already have their attention, then by all means, send DV to the collection agency and if you are put to the task to pay, negotiate for the best possible situation (which may include - asking for deletion of the accounts).

written off, $402 past due as off 1-2002

Your SOL on this account will expire 1/2005 - so I am guessing that a little over a year might be a long stretch if you have plans prior to this on applying for a major loan. Just depends on what exatly you are wanting to accomplish here.