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After disputing with big3 received letter from CA who bought account....


emeg
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88-)I've recently started the dispute process with the Big 3 and have received a letter back from Experian removing only one item , from Transunion telling me about how inquiries work but nothing about the disputes on the letter and nothing from Equifax (it has been over 30 days already).

However, today I received a letter from a collection agency that states they have purchased the account and have received notice of my recent consumer dispute with Experian. They want to offer a settlement (I need to respond to them with 5 days) - the account has expired but they have recently put it on my credit report and not even sent the 30 day letter to me when they first bought the account. Anyway, even if I wanted to settle the account I have been told to only work with the original creditor so I need a letter to get this credit agency to go away. Can someone help?

Thanks

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Yes, I was told by someone on another forum who is supposed to work for one of the big three to try and work with the big 3 only - of course, it may not be possible. I was looking over my credit reports again and this CA has posted on all 3 agencies and the original creditor is still on there as well. Not sure how to handle it but seems that if i need to deal with the CA they say 5 days from the date of the letter which was 9/18. Thanks for any help.

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Yes, I was told by someone on another forum who is supposed to work for one of the big three to try and work with the big 3 only

OK I think you're getting confused.

You can't expect credit repair to happen if you're only dealing with the big 3 (EQ, EX, TU). You have to deal with the OC (original creditors) and CAs (collection agencies) AS WELL. You always Dispute with the big 3 first, yes.

Likewise - if you have a collection agency on your report, you should always try and see if you can have the original creditor pull it back from the collection agency (if the CA has been ASSIGNED the debt, as opposed to them purchasing the debt). If a collection agency has PURCHASED the debt from the original creditor...then the original creditor will more than likely tell yo uto bugger off - they have no further interest in the debt.

I was looking over my credit reports again and this CA has posted on all 3 agencies and the original creditor is still on there as well. Not sure how to handle it but seems that if i need to deal with the CA they say 5 days from the date of the letter which was 9/18.
That's completely legal. There can be 10 collection agencies on the report as well as the original creidtor...SO LONG AS only ONE account has a balance. the others must show 0 balance.

the 5 day thing is just the time a CA has to make initial contact with you after placing something on your report. If you have received a letter form the CA on 9-18, that should say something to the effect of "unless you notify this office wihtin 30 days that you dispute the validity of the debt or any portion thereof, this office will assume the debt to be valid..."

That is referred to as the "mini-Miranda", and you have approx. 30 days to DV them and dispute the debt, WHICH YOU SHOULD DO!

Does that clear it up a little bit for ya?

Keep reading this site and keep learning - lots of information here to file through but it's worth the time and effort!!!!

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Thank you so much. I downloaded the letter from the site to validate the debt with the CA. The letter the CA sent state "we purchased this account" and the CA has double the balance of the original debt. The original debtor is on the account with "charged off bad debt" but the balance is still there on all Big 3 reports. Any advice?

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