Chess any1?

SOL 5 months away, missed DV, settle?

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If it's such a small debt, is there any reason why you can't just pay it so that it doesn't get placed on your credit report? I mean, if it's not on there, now would be a good time to do what you have to in order to keep it off of there.

 

What is the OC reporting on it? Is it showing a charge off date?  I don't know if you're concerned about resetting the SOL, but this new FICO8 seems really hard on collections, especially recent ones.  

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I hate it when people don't list what state they live in, makes it harder to advise and help them. If you were from a certain state I could tell you more about DV letters for example.

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I hate it when people don't list what state they live in, makes it harder to advise and help them. If you were from a certain state I could tell you more about DV letters for example.

 

What TomnTex said. Not only do we not know the name of the company, but we don't if they are a JDB or CA. An estimate of the dollar amount and when this company started handling your account would also help. I see no good reason to wake up a sleeping dog. The OC is already on your CR, which is not going to change. Without any more information its impossible for the most experience posters to offer any opinions. 

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Sorry Art and Tom, I thought the state was in my profile, I am in NJ and I really have no problem paying a portion of a debt , just concerned about them reporting on CR. I just received a second letter from them offering the 3 payment plan! It does have the "30 days to validate this debt" clause on the bottom of the letter. SOL is 6 years and May 2009 was last payment. Can I settle on the terms that they won't report? Or just wait? Thanks again

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Do you know if the debt is still owned by the OC? You can find this out by looking on your credit report. Does it say charged off and sold to another? Does it list a current balance or is it zero?

 

If you are not sure then what is the name of the company sending you the letters? This information will tell us more. 

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Thanks Art! Charged Off by OC, not sure of balance and I'm not sure of CA because I'm not home right now. I do remember that it has been to several different companies. Thanks for all of your help.

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Thanks Art! Charged Off by OC, not sure of balance and I'm not sure of CA because I'm not home right now. I do remember that it has been to several different companies. Thanks for all of your help.

 

Find out these things and it will be much easier to understand your situation. Some collectors operate as both CAs and JDBs while others only function as JDBs. Hopefully your account is owned by a JDB which will make your decision much easier. 

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Art, the CO is still showing a balance on my CR, nothing about being sold or transferred. My last payment is different on my reports. Equifax says 3/2009 and Experian says 4/2009, NJ SOL is 6 years. It is Jefferson and the fresh start program, lol! Of course I am not going to respond to offer, but I do like the DV letter on this site. Should I DV immediately or just do nothing? Says I have until 3/14 to respond to offer. Date of letter is 2/7/2015. Thanks for your help

Ps, the 2nd letter they sent still has the 30 day right to DV clause, I would DV and instruct all communications from them be sent certified, since I have a large household and multiple families at my residence.

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Jefferson is the CA, premier the OC. Jefferson wants me to bite at there fresh start program, resetting the SOL. I wrote up my DV letter tonight, mentioned that the debt was handled previously by another CA and It was satisfied prior to Jefferson acquiring account. I used the DV letter on this site. So close to SOL expiring, I am hoping the time it takes for DV will push me past SOL.

Thanks for your help

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To be honest, I have to pull paperwork and bank records to find the info! It is on an old computer, and gonna take me some time to dig it up. Do you think DV letter is the way to go? Or just not respond? I know I can easily find the previous CA, just need to get the settlement letter.

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I will give you my opinion, but I know nothing about the OC or the CA you are dealing with. I would just let it go and hope they don't sue. You already stated that you are beyond the 30 day period for this CA, so I don't see how this will help you. 

 

First you need to find the paperwork from the last CA. If you did settle and don't have anything in writing then you may be in trouble. Any money you paid this other CA may have reset the SOL clock. 

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