onalert247 Posted February 20, 2013 Report Share Posted February 20, 2013 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! Link to comment Share on other sites More sharing options...
admin Posted February 20, 2013 Report Share Posted February 20, 2013 They will probably not cooperate. However, you can send the OC's letter to the CRAs and tell them that the base account has no records so they should remove Asset's entry. It's worth a try. 1 Link to comment Share on other sites More sharing options...
S. Louis Blisko Posted February 21, 2013 Report Share Posted February 21, 2013 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 andloss, or subjected to any similar action, upon the expiration of the 180-day periodbeginning on the date of the commencement of the delinquency which immediatelypreceded the collection activity, charge to profit and loss, or similar action. Link to comment Share on other sites More sharing options...
BV80 Posted February 21, 2013 Report Share Posted February 21, 2013 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? Link to comment Share on other sites More sharing options...
RockDaddy Posted February 24, 2013 Report Share Posted February 24, 2013 Definitely got lucky. Good job. Link to comment Share on other sites More sharing options...
sanchezrc2 Posted February 25, 2013 Report Share Posted February 25, 2013 MAN I WISH I COULD GET RID OF ASSET ACCEPTANCE OFF MY WIFE CREDIT, THEY ARE A THORN IN MY a$$!!!!!!!! Link to comment Share on other sites More sharing options...
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