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Balance went up after DV letter

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golo
Frequent Contributor

Balance went up after DV letter

I shot a DV letter to CMI the other day and today log in to check my usaa and viola! The balance on the CC went up 20 dollars! I haven't received a response to the DV,ugh! How come? Thanks in advance. 

Message 1 of 6
5 REPLIES 5
RobertEG
Legendary Contributor

Re: Balance went up after DV letter

The debt collector has no period for response to the DV, but upon receipt of the DV (assuming it was timely), they were thereafter under a cease collection bar until verification is provided.  Lack of response is not the real issue, it is their possible violation of the cease collection bar that would be at issue.

 

Technically, if they reported a change in debt status to the CRA after receipt of your timely DV, it could be considered as an action related to "collection of the debt," and thus a violation of their cease collection bar.  Pursuant of an asserted FDCPA violation would be the path.

Message 2 of 6
golo
Frequent Contributor

Re: Balance went up after DV letter

Thank you Robert for your insight.I had that cc there for a long time,I don't know if my dv letter was timely,I don't think it was,but what difference does it makes and why their are jacking up the balance right after my dv letter?
Message 3 of 6
rckstrscott
Valued Contributor

Re: Balance went up after DV letter


@golo wrote:
Thank you Robert for your insight.I had that cc there for a long time,I don't know if my dv letter was timely,I don't think it was,but what difference does it makes and why their are jacking up the balance right after my dv letter?

Likely the balance was already increased over time, they just stopped reporting new updates.

 

Your DV letter to them signaled you might be interested in this debt now for whatever reason, and they reported the new balance.

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
Message 4 of 6
golo
Frequent Contributor

Re: Balance went up after DV letter

Bump...
Message 5 of 6
rootpooty
Valued Contributor

Re: Balance went up after DV letter

i believe your question was already answered

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