Sobe420 Posted July 27, 2007 Report Share Posted July 27, 2007 O.K. I have asked in a few threads and even started a new one. I have CA on my CR. I did not DV when I first got the letters because I did not even know what this was 3-4 years ago.Now its been quiet and I have not heard from the CAs. I applied for a mortgage and told to clean up credit. So, now this many years not days later can I DV? If I DV will I extend the time they report on my credit? Link to comment Share on other sites More sharing options...
razr Posted July 28, 2007 Report Share Posted July 28, 2007 Sure, you can DV anytime. The CA is not obligated to respond outside the initial 30 days though. Nothing will extend the time the TL can be on your report.-r Link to comment Share on other sites More sharing options...
willingtocope Posted July 28, 2007 Report Share Posted July 28, 2007 Nothing will extend the time the TL can be on your report.Not quite true. Paying a delinquent account so that its "brought current" would. Its one of the catch-22's of this whole game. If the OC still owns it, and you pay them in full, they can close the account, mark it paid, and all those lates get to stay for another 7 years. If you pay a CA, you get a PAID COLLECTION which can only hang around for as long as the OC does...but if you pay them in full...bingo.Pretty much the only thing to do that makes sense is a "pay for delete". All other methods of settling delinquent debts hurts almost as much as not paying. Link to comment Share on other sites More sharing options...
razr Posted July 28, 2007 Report Share Posted July 28, 2007 LOL, I knew someone was going to contradict that statement.-r Link to comment Share on other sites More sharing options...
divemedic Posted July 28, 2007 Report Share Posted July 28, 2007 Not quite true. Paying a delinquent account so that its "brought current" would. Its one of the catch-22's of this whole game. If the OC still owns it, and you pay them in full, they can close the account, mark it paid, and all those lates get to stay for another 7 years. The lates can only be reported for 7 years plus 180 days 2. Is the reporting period extended if (A) the original creditor sells or transfers the account to another creditor, ( the consumer responds to post-chargeoff collection efforts by making a payment on the debt, or © the consumer disputes the account with a CRA?Does it matter whether the 7-year period has expired when any of these events occurs? No. In enacting the new provisions discussed above, Congress intended to establish a date certain -- 180 days after the start of the delinquency that led to the chargeoff -- to begin the obsolescence period. It did so to correct the often lengthy extension of the period that resulted from later events under the original FCRA. Enclosed are two staff opinion letters (Kosmerl, 06/04/99; Johnson, 08/31/98) that discuss the impact of these provisions, and the legislative history relating to their enactment, in more detail. Because the commencement of the seven year period is now described with some precision by the statute, it is our opinion that none of the subsequent events you listed -- sale of the charged off account by the creditor, or a payment on or dispute about the account by the consumer -- changes the allowable period for a CRA to report a chargeoff.The FCRA is explicit- negative items can only be reported for 7 years. Even paying the account does not reset that date. Read again:(5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. Link to comment Share on other sites More sharing options...
willingtocope Posted July 28, 2007 Report Share Posted July 28, 2007 What Dive pointed out is correct. However, I was saying that if you bring the account "current", it does restart the 7-1/2 year clock. Any lates within that time frame stay for the next 7-1/2 years. Link to comment Share on other sites More sharing options...
divemedic Posted July 28, 2007 Report Share Posted July 28, 2007 If you mean that any lates that occur AFTER the account is brought current stay for 7 1/2 years, that is correct. The lates that occurred BEFORE the account was brought current would still fall off 7 years from when they occurred. Link to comment Share on other sites More sharing options...
TungstenMan Posted July 29, 2007 Report Share Posted July 29, 2007 can you sue the CA stating you never received an initial communications from them, since they dont send registered/certified letters to you? how would they be able to prove that they did initially contact you? Link to comment Share on other sites More sharing options...
divemedic Posted July 29, 2007 Report Share Posted July 29, 2007 They don't have to prove that they sent the letter. All they have to do is show that they have a procedure in place that should have ensured that the letter went out.It then falls on you to prove that you did not get the letter. Link to comment Share on other sites More sharing options...
Melbaqueen Posted August 14, 2007 Report Share Posted August 14, 2007 What do you do if you never received any information about debt before and now the 30 day window is up and the CA sends a letter stating that they are not legally obligated to validate and you really believe the debt is not yours? Link to comment Share on other sites More sharing options...
TungstenMan Posted August 14, 2007 Report Share Posted August 14, 2007 What do you do if you never received any information about debt before and now the 30 day window is up and the CA sends a letter stating that they are not legally obligated to validate and you really believe the debt is not yours?i would do:dispute with all cra's.contact the original creditor they are referencing on your cr and ask them for a letter stating you never had an account with them. respond to dv response from ca enclosing that letter.try to find out if the debt has been sold or are they collecting on behalf of the oc. if its the latter then the above action should resolve it.file a complaint with the bbb. you can use bbb.org.just to make some more noise you can also file complaints citing your evidence from the named OC to the ftc and attorney gen. in both states, yours and the ca's.if nothing works and the alleged debt is small maybe yo ucan work out a pay for delete... if so get everything in writing before paying. Link to comment Share on other sites More sharing options...
willingtocope Posted August 14, 2007 Report Share Posted August 14, 2007 What do you do if you never received any information about debt before and now the 30 day window is up and the CA sends a letter stating that they are not legally obligated to validate and you really believe the debt is not yours?You have to take the attitude that the letter they sent IS the first you've heard of the debt and DV them anyway. Point out that this was your first communcation regardless of what they claim. State that you do not thing this debt is yours, and if they do not validate or go away you'll be forced to look into your legal options. Link to comment Share on other sites More sharing options...
Melbaqueen Posted August 14, 2007 Report Share Posted August 14, 2007 Thanks so much for the quick responses!!! I have new letters drawn to this CA, the OC and all three CRAs!! I guess it's going to be another expensive day at the Post Office tomorrow!!! Link to comment Share on other sites More sharing options...
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