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hopefully a simple question (post-DV)


carebear2325
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I've been reading these forums religiously for the past month and a half and have learned so much from you all. There's one thing I'm still very unsure about, so hopefully someone can answer.

I DVed a CA last month, and their 30 days is up on the 28th. So I suppose that I'll know something by a week or so whether or not they plan to respond.

This CA bought the debt from the OC (they claim - and my credit report is showing that the debt was sold, so for this purpose just assume that the info is right) I keep reading to dispute the TL with the CRAs, however this CA doesn't have a TL listed on any of my reports. . . just an inquiry on one report. Provided they don't decide, stupidly, to add a TL without validating - do/can I dispute the original TL from the OC? Or am I stuck waiting that one out a few years?

Thanks for your help!

Carrie

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There is no time frame for a CA to repsond to a DV letter. The only requirement is that they cannot report the TL, if not already reported, or, they must note on the TL that it is disputed, if reported. They must also cease all activity. This is only true until such time as they validate the debt.

You said the debt was sold. Therefore, what you need to check on as to the OC's TL is that it shows a Zero Balance, Sold or Transferred notation, Highest Amount or Limit, Dates are correct, Account Closed By Grantor notation, and any lates showing add up to at least 180 days. If any of this is missing or incorrect, file a dispute with the CRA. As to sending a DV to the OC, forget it as they are not bound by the FDCPA unless your State's laws say so. Also, since they sold the debt, they have no interest in it and cannot respond.

To include, the only way you may get something out of the OC is to contact them and offer payment in full. You would have to have a very convincing story as to why you erred in your repsonsibility. Also, that you refuse to deal with a CA, no matter if they bought it. Once in a great while you will find a Credit Manager who will work with you. As to recalling the debt, they can contact the buyer and simply tell them they sold the debt in error.

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Thanks for responding. I just kept reading over and over to send the DV and dispute with the CRAs and I wasn't sure if it applied to the original TL or not. I didn't figure it did, since the OC and the CA are two separate entities, but I wanted to make sure. I'd hate to assume and then find out that I could have gotten rid of the OC's TL.

I'm getting ready to write and send my 2nd DV letter later next week. I just sent in some stuff to the CRA's. I'm taking baby steps and I started with some personal info that was wrong (company name change and *try* to remove old addresses, we'll see about that . . . plus a student loan that they have me marked late on when I'm not in repayment yet) My next round I'll try to dispute some info on the OCs TL and see what happens. Thanks again!

Carrie

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