creditvixen1 Posted March 13, 2007 Report Posted March 13, 2007 I have a cap one account that is listed as charged off with a $600 dollar balance. It is about a year away from SOL , and I am now getting letters from the second JBD about it ( first was oci now northland group)Should I try to dispute the Cap. one TL ( probably wont have any luck anyway) but since its not out of SOL im not sure if I should attempt it even if the debt was charged off and in the hands of a CA now?Thoughts? This is the only bad thing on my report , so I want to try to get it done , but I don't want to get sued by cap one.
gypsie Posted March 13, 2007 Report Posted March 13, 2007 If your only a year from SOL expiration, then IMO- try to wait it out. Especially if you're past the 30day window to DV the 2nd CA. Are you looking to get a mortage anytime soon? If no, then why not wait.Once the SOL has passed, then start disputing- Crap one keeps great records- but maybe you'll get lucky.Once the SOl has passed, you can start DVing the CAs as listed in the primer for credit repair without worry of being sued- or rather knowing you have an affirmative defense if you do get sued.
VonAngel (aka EarthAngel) Posted March 13, 2007 Report Posted March 13, 2007 I have a cap one account that is listed as charged off with a $600 dollar balance. It is about a year away from SOL , and I am now getting letters from the second JBD about it ( first was oci now northland group)Disputing the TL and requesting DV are 2 separate things w/ separate requirements and laws. Investigating a dispute is done electronically. It's not going to trigger anything but a verification, update, or deletion. If you're getting letters from a JDB, then the debt has been sold...meaning, Cap1 no longer has claims to it and can't sue you; it would be the JDB you should be concerned about. However, MAKE SURE that the debt has been sold. How do you know it's a JDB? Are you sure it's not a CA collecting FOR Cap1? If it's a JDB and the debt has been sold, then DO YOUR HOMEWORK!! READ, READ, READ! Learn about the JDB. Learn about how likely they are to have validation. What are their tactics? Are they lawsuit-happy? How much is the debt? All of these questions you need to consider when dealing w/ a JDB. They are just a more vicious CA that now currently owns the debt. So, take precautions against them and preserve your rights. Now, if this is a CA collecting for Cap1, then you may have more of a challenge on your hands b/c Cap1 still owns the debt and can more than likely provide documentation to prove you owe.
creditvixen1 Posted March 13, 2007 Author Report Posted March 13, 2007 thank you both.EarthAngel ,I was concerned that the Northland group was just a part of Cap1 , that's why I wasn't sure if I should even mess with the TL. But if Northland is a JBD and not affiliated with Cap1 then I would be OK to dipute the original Cap1 TL with the CRA's even if SOL isn't up because they no longer own it correct? On the other hand if Northland is a part of cap1 , then i should wait for the sol to pass, correct?I'm pretty sure OCI ( the first collection company)was a part of cap1 , because when i tried to call cap1 about it the main cap1 number transfered me to OCI . But it seems Northland now has it , so im not sure if they are affiliated with Cap1 or not.
IHateCAs Posted March 13, 2007 Report Posted March 13, 2007 I think you're dealing with the OC and not a JDB.
VonAngel (aka EarthAngel) Posted March 13, 2007 Report Posted March 13, 2007 Yeah, I agree w/ IHateCAs. From what I've briefly learned, Northland is a CA hired by credit card lenders. So, it would appear to me that Cap1 still owns the debt.As for when you should DV, that's a choice only you can make. Do only what YOU feel comfortable doing. If you fear that Cap1 will sue if you DV the CA, then wait until the SOL expires (but that doesn't mean that Cap1 won't choose to sue you b4 that year is up). If you're more concerned that the CA is using illegal tactics or that the amount they're trying to collect is wrong, then you should DV ASAP.
creditvixen1 Posted March 13, 2007 Author Report Posted March 13, 2007 OK then , I think I will just wait till the SOL is up before I attempt to take on cap1, so I can atleast have a defense if sued. I had a feeling they were just collecting for cap1 , so i didn't want to rock the boat . I also forgot to say earlier that Northland is not reporting to any of the CRA's yet , so im not going to do anything unless they do. Only Cap1 is reporting.thanks again.
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