DV Debt Validation Technique - Will it work?

[Anonymous]

OK, I'm new to the credit repair game but I have two items on my report that are killing my FICO.  They are not valid debts.  I used a suggested DV technique but it seems a bit different than what I've read on here so far.  Please let me know if my technique has flaws or just plain won't work.

1.  Sent DV letter to CA.  Sent certified mail with signature.  In the letter, I asked them to send DV information not only to me, but the credit reporting agency.  Copy of letter also had copy of actual certified receipt to validate that this was the letter that was sent.

2.  30 days passed.  No response from CA.  I assume that credit reporting agencies did not receive anything either.

3.  I sent credit agencies a copy of (1) validation letter and (2) signed certified receipt of validation letter.  Along with this I sent the agencies a letter demanding to remove this item as I have provided adequate proof that the creditor has not responded.

Questions:

1.  Will this "work"?

2.  What are the credit reporting agency's responsiblities after receiving my demand for removal letter?  Do they have to remove immediately to comply with the FCRA or can they take their time and give the creditor another 30 days to respond through their own investigation?

3.  Has anyone successfully used this technique? 

This is holding up the refinance on my house and don't have time to play the "lets spend a year to remove this item" game with the agencies.  I believe I've provided sufficient proof that the DV was sent - but I'm looking for guidance on how the Trans/Equifax/Experian will react to my letter described in #3.

Thanks in advance for your opinion. 

[Anonymous]

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SeniorSwig wrote:

OK, I'm new to the credit repair game but I have two items on my report that are killing my FICO.  They are not valid debts.  I used a suggested DV technique but it seems a bit different than what I've read on here so far.  Please let me know if my technique has flaws or just plain won't work.

1.  Sent DV letter to CA.  Sent certified mail with signature.  In the letter, I asked them to send DV information not only to me, but the credit reporting agency.  Copy of letter also had copy of actual certified receipt to validate that this was the letter that was sent.

2.  30 days passed.  No response from CA.  I assume that credit reporting agencies did not receive anything either.

3.  I sent credit agencies a copy of (1) validation letter and (2) signed certified receipt of validation letter.  Along with this I sent the agencies a letter demanding to remove this item as I have provided adequate proof that the creditor has not responded.

Questions:

1.  Will this "work"?

2.  What are the credit reporting agency's responsiblities after receiving my demand for removal letter?  Do they have to remove immediately to comply with the FCRA or can they take their time and give the creditor another 30 days to respond through their own investigation?

3.  Has anyone successfully used this technique? 

This is holding up the refinance on my house and don't have time to play the "lets spend a year to remove this item" game with the agencies.  I believe I've provided sufficient proof that the DV was sent - but I'm looking for guidance on how the Trans/Equifax/Experian will react to my letter described in #3.

Thanks in advance for your opinion. 

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Yes it should work BUT the CRAs have no idea what a DV is!!!  It is not up to the CAs to notify the CRA of the DV.

The CRAs have 30 days to delete or send you an updated CR.

If they do not delete then........you send the CRAs (only ones that do not delete) a  MOV....they must answer within 15 days!!!  Do not be surprised if they send a form letter BUT if they do.....you send an ITS letter   giving them 5 days to delete or you will have your attorney take legal action.

Message Edited by HappyDays on 02-15-2008 06:56 PM

[gdtobefree]

I wonder if this works with the OC?

I know the OC doesn't have to answer a DV but can we ue that to our advantage Since the CRA has no clue what a DV is?

[SanFranMatt]

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SeniorSwig wrote:

3.  I sent credit agencies a copy of (1) validation letter and (2) signed certified receipt of validation letter.  Along with this I sent the agencies a letter demanding to remove this item as I have provided adequate proof that the creditor has not responded.

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This is one aspect that I'm not too sure about.  You sent the CRA's proof that you sent the CA a letter, but there's no proof that a) the letter was a DV letter, and b) they never responded.  For all the CRA knows, you sent an empty envelope or the CA did respond.

[Anonymous]

I don't know what type of collection accounts you have on your report, but I can share some experience I have had with refinancing my house twice.

The first time I had collection accounts for medical bills on my reports.  Some were over four years old, making them beyond California's SOL.  The loan officer told me the bank said I had to pay all the collection accounts from escrow proceeds.  We owned our house at the time and were doing a cash out loan, essentially setting up a first mortgage.

I argued that many of the accounts were unenforcable debts by law, they were past the SOL.  So first I got the bank to concede and say I did not have to pay the older than 4 years collections.  But they still wanted about $25k to be paid for the other accounts.

I argued next that they were all medical debts and should not even be on my report.  And I also provided proof that other collections had been charged off by the original creditor, thus making the debt invalid.   I don't know if it was my persistence or what, but eventually the bank gave up and just financed the loan and I did not have to pay these bills out of escrow.  I would not have agreed to it, and would have walked away from the loan. 

It's not that I did not want to pay the bills, it's that I knew I would suffer 7 more years of bad credit reports if I allowed them to pay out of escrow.  Also, I had tried to negotiate the medical bills lower for two years.  Although my local hospital will give a local's discount, that is only if you pay the entire bill in 30 days from the date of service--even though they don't even send out bills until about 2-3 weeks after that.

I tried and tried to get them to lower the bill and take off items that I felt were inaccurate.  They would not budge one penney.  The worse of it was that they kept me in the hospital for 3 days before a surgeon was even available to operate.  I had to pay all that extra bed time.  And they had no idea how to feed a vegetarian, so I had to give the cook a shopping list and recipes.  Then they took out my gall bladder during exploratory surgery, something I never felt they needed to do.  Long story, but I sure as .... don't feel badly about this bill passing off into the past unpaid.  I also researched their prices and they were about $8 thousand higher than the national average for the same type of operation.  The hospital has a very bad reputation with locals, and is known to be unyielding and over pricey.  I offered to pay them 65% of the bill, and they turned me down flat.  I guess that nothing is better than 65% for them.  they are lucky I did not sue them for malpractice.

[Anonymous]

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SanFranMatt wrote:

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SeniorSwig wrote:

3.  I sent credit agencies a copy of (1) validation letter and (2) signed certified receipt of validation letter.  Along with this I sent the agencies a letter demanding to remove this item as I have provided adequate proof that the creditor has not responded.

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This is one aspect that I'm not too sure about.  You sent the CRA's proof that you sent the CA a letter, but there's no proof that a) the letter was a DV letter, and b) they never responded.  For all the CRA knows, you sent an empty envelope or the CA did respond.

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And if that is the response send the CRA's this (make changes where needed):

Your Name
Address
City, State Zip
 

TU/EX/EQ
Address
City, State Zip

DATE

RE: Account #_________/Original Creditor’s Name

Dear CRA:

This is a request for deletion of a disputed item. I have attempted to have this allleged debt

verified by the alleged creditor and collection agency to no avail. I am respectfully requesting that

"Collection Agency" do what is legally mandated by the FCRA and FDCPA, and delete the account listing.

Name of Creditor/Agency, Account #_________

On XX XX 08, "Collection Agency" received a demand for validation from me. Attached is a copy of that letter along with the U.S. Post Office return receipt showing they did indeed receive the request.

As of today, XX XX 2008, they have failed to provide any proof or respond in any way.

On XX XX 08, I sent a second letter. Again, I have received no response. Attached is a copy of the

letter and the U.S. Post Office showing they did receive that letter.

The FDCPA states they must cease collection activity until they have produced verification of the

alleged debt if so requested. As per the FTC, this includes reporting to the credit bureaus, which

they obviously have done illegally. It is quite evident that no such proof of this alleged debt exists

or they would have provided it in the previous X months since it was requested.

Also, when an alleged debt is disputed, a notation must be entered on the debtors report showing the

item as in dispute. Again, this was not done. Another violation of the FDCPA. (DELETE THIS PARAGRAPH IF IT DOES NOT APPLY!!)

As per the FCRA, if no proof of debt exists, it may not be reported to the credit reporting bureaus.

The FCRA also states that the credit reporting agencies must accept written proof from the debtor.

Therefore, I am not asking for an investigation to be done, I am requesting that the entry be deleted

in its entirety as there is no proof of its existence as evidenced by my attached documented proof.

Sincerely,

 
Your Name

[SanFranMatt]

Stef, thanks for the letter....I sent it to both CRA's that are reporting a Collection account.  Let's hope it works!

[Anonymous]

I'm going to use that today!! I'm going to fax it because I'm impatient.