waverlymike

Collections/Dispute with CRA?

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Ok, so I have 3 collections on my reports. I've sent letters to the three attempting to settle/PFD. If it's been a couple of weeks and I haven't gotten a response, should I dispute them with the credit reporting agencies, hoping they won't respond to them? What happens if I dispute and they do respond to the CRAs? Does that change anything with the collection/possible settlement process?

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All of the contacting of a collection agency is done electronically, so their records may or may not reflect that you disputed the account.  I would definitely dispute with the credit bureaus, you never know if you will get a deletion.  

 

The collection agencies may never respond to your request for settlement, but I would think it would get their attention.  You can follow up with a phone call to feel them out, but have your finger ready to close out the call if they get abusive.  

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Credit Reporting Agencies most definitely WILL respond to your request.

If you do your request in writing they have 30 days. If you do it via online, they have 45 days.

Also, if you do it via FreeCreditReport.com they have 45 days to respond to you.

 

About the CA's responding to your request for settlement / PFD.... oh boy, you're about to start getting calls a plenty.

Take good notes, read up on the FDCPA and nail them if they violate.

 

Depends on what your end game is obviously.  Typically we don't advocate that someone settles with a JDB here.

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If you do your request in writing they have 30 days. If you do it via online, they have 45 days.

 

Where in the FCRA does it say that?  Not trying to bust your chops, just trying to gather information.  

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Where in the FCRA does it say that?  Not trying to bust your chops, just trying to gather information.  

Kirsty, do I have a point of information incorrect here?

I'm referring to doing things in writing vs doing things online via the dispute system.

When you do things in writing it's 30 days. If you do things via online system it's 45 days to respond to you.

 

Am I mistaken? Do I have the wrong info?

 

My post makes no mention of the FCRA whatsoever.

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I actually just want to pay, I can afford most of what I owe. I just want to take care of it. I got an agreement for one PFD, one for a paid in full, which whatever, I'll just take it at this point and another who offered me a "settled in full" for $500 on a $800 owed. 

 

I know the CRAs will respond, but I more meant if I dispute and the collections agencies don't respond to the CRA. Then what happens?

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