I have an account on my report that was a credit card with my former credit union. The CU charged off the account and referred it to a debt collector. About 2 years ago, I began making regular payments to the debt collector, though I stopped after about 12 payments because the progress on the debt was not being reported to the credit bureaus. At this point, I want to settle and get the collection off my report. Should I send a DV? I'm thinking I already verified the debt by making payments. Should I send a PFD, and if so, do I send it to the CA or OC? I'm new at this, but this is the biggest obstacle on my report and want to resolve it favorably and quickly.
If the OC charged-off the debt, that is a reporting of an accounting measure they took.
Subsequent payment or non-payment of the debt does not require deletion of that reporting. The only way ot get the CO deleted is by voluntary deletion of that reporting by the OC.
Taking a charge-off has no effect on the consumer's continued obligation for the entire debt.
If the OC then referred the unpaid debt to a debt collector and retained ownership, the debt collector can report their collection, and both the CO and collection will then appear in the consumer's credit report.
You could, if the OC will accept payment, send a PFD request to them for deletion of their reported CO in exchange for payment to them.
That would not require the debt collector to delete their reported collection. It would require them to close the collection, and report $0 remaining under collection.
Alternately, you could offer a PFD to the debt collector, and thus attempt to gain deleteion of their collection. If they accept, it would not require the OC to delete the reported charge-off. You decide which reporting you are most concerned with its deletion, and send your PFD offer to that party.
However, if the OC actually sold the debt to the debt collector, then the OC would be required to have updated the debt balance owed to them to $0.
That ends their involvement, and any PFD would be directed only to the debt collector, and relate only to deletion of their collection.
Any deletion of the charge-off would then be pursued by a GW request to the OC.
If the collection is two years old, then they presumably sent dunning notice more than 30 days ago, which would make any DV request untimely, with no obligation for them to cease collection or respond to the DV.