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You didn't say if you requested validation from the Repo agency/CA. Have you?

If you request validation and they ignore, then obviously you can get it deleted from BF's report. You might want to wait to do anything till the SOL is up... which is 5 months from now in California (4 years). I wouldn't try to settle until after the SOL and after you attempt to validate. The damage is already done as far as your credit is concerned. You will have more leverage when the SOL is past if they actually validate as requested. When the SOL is up, they won't be able to sue you, and they'll know it, so you can bring the total you end up paying down a lot.

Hope this helps. - Jade

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Okay,check this out. Before we disputed the balance on the Repo, dola activity was 8/99. After we disputed it, they changed the dola to 2/2000. We have the credit reports before we disputed it that say the last payment was 8/99. Do you think they are trying to pull a fast one?

I never requested validation. The OC (which is a credit union) never sent the balance to collections.

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To save me trying to figure out who "they" are, can you help me out and name everyone. Call it credit union or whatever, but I don't know who you're referring to when you say "they".

If you're saying that you still have the OC reporting your balance and there is no CA involved at all, that's ok. You still have options. First, yes it does matter that they re-aged the account. Keep track of that first credit report. DON'T LOSE IT! In fact, make some copies. Secondly, you can validate it with the OC. You may want to wait till 2/04 which is the actual SOL (if you're in a 4 year state) to help avoid the possibility of being sued for the balance. But do validate, either then or now. If they don't validate the account, they can't report it to CRA's, so you dispute with the CRA's and get it off your report. This will probably not be the end of it, with such a large balance, so two things will happen. Either they'll validate it, and send you copies of your contract and other docs that show your legal obligation, or they'll ignore it, but re-report it on your credit after you dispute and get it removed, and the CRA's will re-insert the information. The CRA's only have 5 days in which to notify you of a reinsertion, so if you do not get validation and you do get it off your credit report, you need to carefully watch your credit report to see if it reappears. Commonly, the reinsertion will also have a changed DOLA, usually much later. (this is just fun for them, to see what they can get away with)

Let's say they do validate. Are you stuck? NO! If you are past the SOL they still have no recourse. The debt is too old. It is not legally collectable. This is deal time. THEY know that they have no way to get money from you if it's past the SOL, but they will count on YOU NOT knowing.... SO... you've got to let them know that you know that you are in control and they have to deal. They are going to balk and complain and challenge and possibly threaten and send lots of different offers, but you need to settle in your own mind what you can afford (25% of the balance paid in 4 installments would be my recommendation. $625 a month for 4 months to get it to go away, which is your goal, but you pick what works for you) I did this with another company, not on a repo, but it took 4 letters I believe, before they would accept my deal. They liked to completely ignore my letters, as if I had never sent them, and send me new offers as if they had thought it up themselves... fine, whatever, as long as I get the deal I'm looking for. :wink: You've got to make sure that this deal is in writing from them, signed and dated, saying that after the last payment is received, they will remove any negative entries on your report. This is not a negotiable point. Don't budge on this. Don't talk to them on the phone. Just keep writing letters. They will offer to list it as "settled" or possibly other options, but just keep hammering away at it, and don't give them ANY money till you get in writing the deal YOU can live with. REMEMBER that YOU are in control and YOU have what they want, money. They don't have anything you want, other than getting the info off your credit, which will happen anyway, in time, and they know all this.


- Jade

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When I say they I am referring to The Golden1 which is the credit union. All of the reports we have before the dispute say dola was 8/99. Now the report (Equifax) say the dola was 2/2000. Equifax was the only CRA who disputed the report.m EX and Tu wanted proof of address before they went ahead with the dispute. We did not include it when we disputed. So I am sure EX and TU reports still say dola was 8/99. But do you still think I should wait until Feb.?

This is what the report says before the dispute

Account Number: XXXX Rate or Status: CHARGE-OFF

Account Owner: Individual High Credit: $10,245

Type of Account : Installment Terms or Monthly Payment: $361

Date Opened: 10/1998 Balance: $0

Date Reported: 02/2000 Past Due: $0

Date of Last Activity: 08/1999 Months Reviewed: N/A

Comments: Charged Off Account

24-Month Payment History

2000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


1999 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

* * * * * * * * 30 60 90 120 1998 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


Account Number: xxXxxxX Rate or Status: REPOSSESSION

Account Owner: Individual High Credit: $0

Type of Account : Installment Terms or Monthly Payment: $0

Date Opened: 10/1998 Balance: $10,244 Date Reported: 10/2003 Past Due: $0

Date of Last Activity: 02/2000 Months Reviewed: N/A

Comments: Involuntary Repossession

24-Month Payment History

No 24-Month Payment Data available for display.

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Aha! (sorry... temporary brain fade... I'm prego, so bear with)

Your SOL, if it is indeed 4 years, is already up. It was up last month, if the true DOLA is 8/99, which it appears to be, and you're in a 4 year state. So... you can proceed with all of the above actions. The first thing to do is to request validation from the OC. I would word it as such " I need you to validate this account as there appears to be discrepancies between your records and mine." (You don't have to explain what the discrepancies are) If they ignore you, dispute with the CRA's that are reporting the account. If they validate, you can start dealing.

Are you with me? - Jade

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