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Whew....a bit overwhelmed....


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No Excuses..I ignored my credit too long; stuck my head in the sand and tried to ignore it.

Here is my dilemma:

I have got all three reports. I have begun the process of getting little things cleared up; however, in the process of all this information finding, I discovered that Equifax is reporting a huge credit debit from last year.

It doesn't show up on TU or XPN....so naturally I requested EFX take another look. They took longer than the 30days and came back and said they researched the collection account and they verified it belongs to me.

IT DOESN'T! and the bad new is, it is for a rather large sum of money.

I have filed a report with the FTC online. I have send a certified letter to the collection agency asking for them to validate it.

Here is the text of my email:

"I just pulled a copy of my credit report and noticed that your agency is reporting that I owe you a debt. I was not aware of this debt until now, and under my rights under the FDCPA, I request that you validate this debt."

Now, I have had more time here on this site and realize I should have asked for a verification of certain things.

MY QUESTION: would it make any sense to send another more direct and specific letter to the collection agency (with specific requests for verification of paperwork, etc.) or just wait and see how they respond to the first request.

Then: after that if they don't cooperate with me...what do I do??

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They took longer than the 30days and came back and said they researched the collection account and they verified it belongs to me.

IT DOESN'T! and the bad new is, it is for a rather large sum of money.

MY QUESTION: would it make any sense to send another more direct and specific letter to the collection agency (with specific requests for verification of paperwork, etc.) or just wait and see how they respond to the first request.

The quote below is taken from this thread:

http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=39744&highlight=

If the item really is not yours, and you are certain of it, you don't need court or a lawyer to resolve this. Your goal is to get it off your reports, right?

You simply go down to the police station and fill out an identity theft report and an affidavit of IDTheft (located here: http://www.consumer.gov/idtheft/pdf/affidavit.pdf). You do not have to know who "stole your identity" to make this claim. And, if it turns out to be a mistake on the part of the creditor or collector mis-identifying you as the debtor, they will be in big trouble with law enforcement.

You send a copy of the report and affidavit to the CRAs and the collector. Once the CRAs get it, they are required by law to permanently supress the item from your credit reports and take measures to ensure it never reappears. Upon receipt the collector is forbidden to report it again and is further forbidden from collecting on it, and selling or transferring it to anyone else.

Non-compliance with this is a huge, huge FCRA violation with big bucks behind it. You'd find more lawyers willing to take it on if the payout is larger.

Unless there's more information that you have that changes your situation, this answer fits you as well.

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