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Asset Acceptance validating debt OC can't


onalert247
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Hello everyone,

 

I have been in a lenghty dispute with Asset over an alleged debt that they claim they are verifying via the OC.  I decided to take a shot at sending a validation letter to the supposed OC. I just received a letter from the OC's Consumer Credit solutions Exceutive office that states due to the age of the account they are unable to process my request and their records indicate the tradeline has been removed from all CRA's to which they report.

 

Is it likely Asset will cooperate and remove? What are my options from here?

 

Any assistance is greatly appreciated.

 

Thanks!

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If it helps:

 

The reporting period may not be extened by assignment to a collection agency.

 

The 7 year period begins as described below and only applies to which ever action is taken "earlier".

 

There are FTC Staff letters on this issue as well.

 

 

FCRA 605© Running of Reporting Period
(1) In general. The 7-year period referred to in paragraphs (4) and (6) 3 of subsection
(a) shall begin, with respect to any delinquent account that is placed for collection
(internally or by referral to a third party, whichever is earlier), charged to profit and
loss, or subjected to any similar action, upon the expiration of the 180-day period
beginning on the date of the commencement of the delinquency which immediately
preceded the collection activity, charge to profit and loss, or similar action.

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FYI, you got lucky with the OC.  Please don't think I'm being rude by making such a comment.   A DV letter (debt validation) is a term used by the FDCPA.  Original creditors are not ever required to respond to DV requests.   You're lucky that they did and chose to remove their entry. 

 

This doesn't mean it would happen in every case.  However, it does show that one has nothing to lose by trying.  Good job.  :)

 

Admin's suggestion is a good one.  But it can depend upon the circumstances.  I'm dealing with a similar issue right now.

 

Is Asset reporting a date of first delinquency or date of last payment?  If they are, is the information correct?

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