farrier

dispute to CRA over an account with OC listed as CO, and DOLA about 4 years ago

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Okay, so I'm back on my uncle's CR repair....

 

I made disputes on some of my uncle's CRs, making sure the accounts I disputed with the CRAs were past the 3 year SOL for an open-ended account in KS. The CRAs had the letters for about a week+/-.

 

One disputed account was an open-ended TL with one of those mail-order overpriced companies that furnish sub-par items... the DOLA on this account is about 4 years ago, so I figured either they could verify/validate to the CRA, or they couldn't. It is also listed as a CO, so I figured they didn't have the info to support verifying to the CRAs. No limit is shown, the high balance is $400, and the CO is shown as a balance of $175. A few things on the amount/date didn't seem quite accurate, so... I just helped my uncle to write the CRAs that the account was in dispute, that the TL on the CR was incomplete and incorrect, and that verification was requested.

 

There isn't a CA listed, even though the account shows CO. The letters were to the big three CRA, but my uncle recieved a letter requesting him to provide the OC with information regarding the account. Such as if he felt the account wasn't his, did he file a police report if he felt the account wasn't his etc.. etc..

 

If they have info on it, why didn't they just verify the correct date/balance/limit and high balance????

 

Is a response required, and do they actually have the right to contact him, rather than just provide the CRA with the proper info when a verification was requested?

 

Thank you

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First of all, if you could refresh our memories on why your uncle needs his credit rating cleaned up. Is he planning to buy a house, a car, get a job, etc?

 

If not, and all this stuff is beyond the SOL in your state, you really don't need to bother. Your credit record only matters when you need credit. If you don't, who cares?

 

However, there are no laws at the federal level that require that any owner of a debt contact the consumer at any time, before or after reporting to the CRAs. All that is required is that they report accurately.

 

In addition, the SOL in KS has nothing to do with whether or not an accurately reported negative TL can still be reported; the stop for that comes after 7.5 years, no matter what the SOL.

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So he doesn't have to respond to OC's letter, but OC does have to be able to verify to the CRAs, correct?

 

They probably have already rubber stamp validated it.  Some creditors go ahead and send that letter hoping to update their contact information for the debtor and to resume collections.  

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