Asset Acceptance, Macy's, Bloomingdales, Nordstrom...what to do??

[umeed110]

Hi,

I have finished cleaning up my DH credit and his scores have jumped from 480s to 668. Now it is my turn. I have deleted alot of collections and I am left with the following derogatories.

1) Asset Acceptance - They have two accounts of mine, the first is Express w/ a balance of $600 and and the second is JCrew with a balance of $1900. I have tried to dispute these w/ the credit bureaus and AA keeps on verifying. The OCs have already dropped off when I disputed with them. These are supposed to drop off in May 2015 and I am looking to purchase a home in a couple of months. AA offered to settle both accounts for a discount of 75%...I am tempted to take their offer but I don't see how that would help my credit situation. I have sent them a DV letter on both accounts and they responded with a letter telling me that if I think the account is incorrect then I shold provide proof of that. Additionally, both of these accounts are past SOL so they can't sue me on them either.

2) Macy's - This is a chargeoff that is coming off mid 2015...I owe them approximately $600

3) Bloomingdales - This is a chargeoff that is coming off mid 2015...I owe them approximately $1200

4) Nordstrom - This is a chargeoff that is coming off mid 2015....I owe them approximately $1200

Do you think if I pay them off,  would any of them reopen the accounts? How would I approach them? I don't deny I owe them money, even AA I owe the money to the OC for both of the cards, just not the amount that they have added up with fees and interest etc. I can settle the AA for about $600 in total...should I do that or it will not have any effect on my score? Also I have a feeling AA does not have proper documentation of my debt...can I use that route to have them delete the tradeline from my report...any thoughts on how to get them to respond to a DV, because they don't seem to respond. I live in TX and they are supposed to repond within 30 days as per my understanding, but I may be mistaken.

Very confused...

[Shogun]

Several different issues here.  You say the debt is yours, yet you are disputing it.  What is the basis for the dispute?  Have you tried to do a PFD and settle?  

I don't see much luck in re-opening a CO line of credit, there's not a good chance of that happening.

Did you use the Texas state statute when you DV'd them?  Or did you just send a regular DV?  This would make a big difference.

If the debt is from the OC and is factored into your util, then paying/settling could show an improvement in scores.  But generally, paying a CO doesn't factor into the scores.  If you are planning a mortgage in the near future, they usually require these old unpaid debts to be settled anyway.

[umeed110]

I am disputing because I don't think they can prove that it is mine because I doubt they have documentation. I personally know it is mine plus it's so old that even the OC is off of my report.

I have tried to do a PFD but they aren't interested in it (asset acceptance)

I did use the texas statute and have not received a reply from them as of yet.

So I guess regardless I would have to pay off those three store cards? If it falls off my report, do I still have to pay them?

[09Lexie]

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@umeed110 wrote:
I am disputing because I don't think they can prove that it is mine because I doubt they have documentation. I personally know it is mine plus it's so old that even the OC is off of my report.

I have tried to do a PFD but they aren't interested in it (asset acceptance)

I did use the texas statute and have not received a reply from them as of yet.

So I guess regardless I would have to pay off those three store cards? If it falls off my report, do I still have to pay them?

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Knowingly Disputing valid debts  can be considered unethical and is a violation if myfico's TOS.

Have you written any DV's?

[umeed110]

To clarify I am disputing with them because the OC has dropped off and I believe the CA has reaged the debt or has the wrong balance or has the wrong DOFD. I don't deny I owe the OC a certain amount of money. Rather I am denying that the CA can prove I owe them any money. I have sent multiple DV to Asset Acceptance with no response from them besides them responding and saying that I should send them more information proving my point. They have not verified the debt. I do not believe I am violating any of the TOS of myfico. Additionally, I have not disputed the charge off from the 3 store cards because I know I owe them money.

[RobertEG]

Neither the DV process nor the FCRA dispute process requires proofs in order to verify.

They are requred to investigate either the accuracy of the debt or of information reported to the CRA.

Verification is based on their determination of accuracy.  They need not provide supporting documentation or proofs.

There are no judges in either process to evaluate documentation and make a determination on contested views of what it does or does not show.

If they have verified in response to a DV, they are stating that you must present some basis for showing an actual inaccuracy before they are required to investigate an individual item.

A DV does not require documentation of an inaccuracy, but a disptue does.  Disputing in hopes of lack of verication requires identification of the specific item or items of information that are asserted as inaccurate.

Did your dispute list each of the "or" items that might be inaccurate, or was it simply a statement that you dispute?

Finally, if they have reported inaccurate information, resolution of a dispute can simply be correction of that reporting.

Inaccurate reporting is not basis for their deletion of the entire account or other information that remains accurate.

[umeed110]

So basically, I should try and settle w/ the CA and then GW and hope that they take it off?