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DV after sending money?


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I have an old collection that I had sent some money toward in the past (original debt was $2000, I sent several payments totalling $180). It has been over a year since I sent any money and I'm wondering if I can still make them validate the debt. I ask because we need to get this taken care of to buy a house and I'd love to get this off my report one way or the other. The CA is Southern Management Systems and the word on the web is that they are horribly unethical and are under investigation with the FTC, so I'm not expecting them to reply. Any thoughts?

Amy

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Yes, you can send a DV at any time.

However, this debt is years past the "timely" deadline that might be meaningful to you.

Assuming the DV is to a CA, they are required to mark the credit report as disputed. Otherwise, they are not required to do anything else. Nor, are they required to cease collection activity.

If the DV is to an OC, if you live in TX or CA, the OC might be required to respond. Otherwise, a DV does not apply.

The CA's ethics or lack thereof does not have any impact on what the law requires of them. In your case, that is remarkably little as you are not only far past the timely deadline and you have been sending them money.

The only suggestion I would have is to try to make a deal with them. If you settle the debt, it will at least be marked as PAID, which is the key requirement for the mortgage lender. You might be able to negotiate a deletion of the tradeline -- but those things are pretty rare. Just be sure to get any deal in writing.

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