katsr Posted August 19, 2005 Report Share Posted August 19, 2005 I DV'd a CA last week and received the following reply:This letter is to inform you that the above account has been cancelled back to the orignal creditor. If the account was reported to your credit report, we will instruct TRW, Experian, Trans Union and Equifax to delete the derogatory remark from your credit report. Yep, downright orgasmic. Link to comment Share on other sites More sharing options...
c m chase Posted August 19, 2005 Report Share Posted August 19, 2005 CONGRATS!!!!!!! It *is* one of the best feelings in the world, huh?? Be on the lookout for a new dunning letter from another CA, though. And make sure you get in your new DV within 30 days! Now that you know...stop 'em in their tracks! Link to comment Share on other sites More sharing options...
katsr Posted August 19, 2005 Author Report Share Posted August 19, 2005 Yeah!!!!! Knowledge is power, no doubt about it. Creditors will never get my power again! Link to comment Share on other sites More sharing options...
Ainzboogie Posted August 21, 2005 Report Share Posted August 21, 2005 I second that emotion!!! Link to comment Share on other sites More sharing options...
IHateCAs Posted August 21, 2005 Report Share Posted August 21, 2005 Wow, they were still reporting to TRW? Link to comment Share on other sites More sharing options...
ghacorp Posted August 22, 2005 Report Share Posted August 22, 2005 Unless you are beyond the SOL, you should be very cautious of a letter like that from a CA. Generally after a period of six months to one year of unsuccessful collection activity collection accounts expire and are returned to the OC for no action, legal action or assignment to another agency. Sometimes it gets even worse; sale to Unifund or an equally obnoxious junk debt buyer then a Summary judgment in court. Collection activity is expected to get tougher once the new bankruptcy legislation takes effect. This is no time to be having orgasims! Link to comment Share on other sites More sharing options...
Northern Lights Posted August 22, 2005 Report Share Posted August 22, 2005 I agree with "ghacorp".With the new bankruptcy law collection agencies no longer will back away with the threat of going bankrupt. That's because they know even if you file bankruptcy and you can afford to make payments the court will grant them some of their money. There will be no more free rides, so stay on guard and always get and keep your credit reports. Link to comment Share on other sites More sharing options...
IHateCAs Posted August 22, 2005 Report Share Posted August 22, 2005 Unless you are beyond the SOL, you should be very cautious of a letter like that from a CA. Generally after a period of six months to one year of unsuccessful collection activity collection accounts expire and are returned to the OC for no action, legal action or assignment to another agency. Sometimes it gets even worse; sale to Unifund or an equally obnoxious junk debt buyer then a Summary judgment in court. Collection activity is expected to get tougher once the new bankruptcy legislation takes effect. This is no time to be having orgasims!Fighting a JDB in court is much easier than the OC. Link to comment Share on other sites More sharing options...
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