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What the heck is this???


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I pulled a copy of my Experian and disputed some items. Today, I received a letter in the mail from MCM and it reads

the purpose of this letter is to request your assistance so that we may reach a quick resolution to your dispute. As part of our investigation of your dispute, it would be helpful to have a copy of any documentation you may have that supports your dispute. In the interim, we have requested that the three major consumer credit reporting agencies change the status of this account to "disputed."

Please mail or fax cancelled checks, paid letters, police reports, or any documentations you may have to support your claim to 800-xxx-xxxx.

Your credit report will not be updated if the federal reporting period has expired.

um, so they need MY help to verify the debt? Am I reading this right? What should I do??? What can I do?? Should I debt verified them??

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They're obligated to investigate your dispute regardless of whether you send them anything. When you file a dispute with a CRA, they forward your dispute to the furnisher. The furnisher is supposed to launch an investigation; however, we know the "investigation" they perform is usually perfunctory at best. (Read: Automated Injustice)

In your case, the furnisher is evidently trying to investigate. Many times people send proof and documentation to the CRA that is supposed to be forwarded to the furnishe to assist with their investigationr. This proof is never forwarded by the CRA; there isn't even a mechanism in place for a CRA to send such documentation.

It's reasonable, therefore that they ask you for any proof you may have regarding whether or not the account is yours and/or whether or not the information they are reporting is incorrect.

um, so they need MY help to verify the debt? Am I reading this right? What should I do??? What can I do?? Should I debt verified them??

If it's your account and you're simply trying to have it removed from your CRA files, then it's probably wise not to send anything. If you have proof it isn't your account or that they're reporting it incorrectly, then you may want to send what you have... or not, depending on whether this would help you. For example, if it's a derogatory account, and they are reporting the date wrong or something similar, then you probably wouldn't want to hand them this sort of damning evidence, even if you have proof that they are reporting incorrectly.

You may want to wait for the results of the dispute to come back from the CRA. Depending upon the results, at that point you may want to write a "623" letter to the furnisher. You could write a DV letter, but untimely DV (unless you live in Texas) may not produce the desired results.

Other things you need to consider:

Is the debt yours?

IS it within SOL?

How long has the tradeline been on your CRA files?

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