Dejital Posted September 27, 2004 Report Share Posted September 27, 2004 Hi all, I've been reading through this board and I'm just amazed at how much I can do to affect my own credit and also how willing everyone is to help.I'm just starting out, and I've learnt the basics from this site. I want to send DV letters to 2 collections on my CR from "STUART ALLAN & ASSOC" and "ARROW FINANCIAL SERVIC". Both are paid off but, from what I can tell the $ amount is wrong and I'm not sure how accurate the entries are. What would be the best example of a DV letter to send them so that I can get it deleted from my CR EVEN IF the entries are accurate. If anyone can send me examples of letter that would be great too.Also, how do I deal with the actual Credit cards that had the original debt to begin with, what should my course of action be to get those removed, most of them say 'Chargeoff' or "Purchased by another lender". Any Help would be so great!Thanks in advance. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted September 27, 2004 Report Share Posted September 27, 2004 They roll off your CR after 7 years. Unless you argue " not mine," I'm not sure there is a reason for the CRAs to drop these. Link to comment Share on other sites More sharing options...
Dejital Posted September 27, 2004 Author Report Share Posted September 27, 2004 but isn't that the whole point of DV. To see if the CA can validate it? Link to comment Share on other sites More sharing options...
breathing_easier Posted September 27, 2004 Report Share Posted September 27, 2004 Also, how do I deal with the actual Credit cards that had the original debt to begin with, what should my course of action be to get those removed, most of them say 'Chargeoff' or "Purchased by another lender".Welcome to the CIC, Dejital! I'll let someone else answer your DV letter to a paid-off CA question as I'm not certain. As for the negative OC tradelines, you can always try a "goodwill" letter to the OC. A goodwill letter basically says "mea culpa, I messed up, but I'm on the right track now and need your goodwill in cleaning up my credit report." It has worked for me and for others on this board. I would imagine it works best with companies with whom you previously had a long-standing, positive credit history before things went south. However, sometimes if you just get the right customer rep or to the right level of management you'll find someone who will take pity on you. I think (?) there may be a sample goodwill form letter under the "Sampe Letters" link at the top of the page...not sure, though. The Planetfeedback site (referrred to as PFB on this board) is a good place from which to send a goodwill letter. Check them out at www.planetfeedback.com. If a goodwill letter doesn't work then you can dispute the OC tradeline as "not mine," or you can dispute any incorrect balances, open date, date of last activity, chargeoff date, etc. If your OC sold your account to a junk debt buyer (who is also considered a CA), make certain that the OC is reporting a $0 balance on the account. Even if you aren't successful in getting them to delete the tradeline, you can at least insist that they follow the law and report a $0 balance. The correct reporting of a $0 balance will most likely help your credit scores. Sometimes they'll hang tough and keep verifying, then all of a sudden * poof *, it's gone. Link to comment Share on other sites More sharing options...
breathing_easier Posted September 27, 2004 Report Share Posted September 27, 2004 but isn't that the whole point of DV. To see if the CA can validate it?I think RA was referring to your post as to how to get a negative OC tradeline off your report. OCs are not bound by the FDCPA and are not required to validate a debt (but I think you knew that). Link to comment Share on other sites More sharing options...
Dejital Posted September 27, 2004 Author Report Share Posted September 27, 2004 thanks guys for your response. I'll give this a shot. Link to comment Share on other sites More sharing options...
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