CBCS Collection

[DUISlayer]

The other day, I was wondering why I hadn't heard from Verizon in quite a while about my collection. About a year ago, I attempted a PFD a couple times with them, and they were adamant on saying no. Well today I received a new collection notice, now from CBCS, who says the account was placed with them for collection. I believe Verizon still owns the account, as that is who is reporting to the CRAs as of 01/2012. The dates on my account are as follows: Opened 12/06, Reported 01/12, Major Delinquency First Reported 4/11 (which is incorrect), and Date of First Delinquency 12/09. Should I wait until CBCS starts reporting instead of Verizon, or what is my best course of action at this point? As always, thanks for the advice!

[JM-AM]

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@mistaritalian wrote:

The other day, I was wondering why I hadn't heard from Verizon in quite a while about my collection. About a year ago, I attempted a PFD a couple times with them, and they were adamant on saying no. Well today I received a new collection notice, now from CBCS, who says the account was placed with them for collection. I believe Verizon still owns the account, as that is who is reporting to the CRAs as of 01/2012. The dates on my account are as follows: Opened 12/06, Reported 01/12, Major Delinquency First Reported 4/11 (which is incorrect), and Date of First Delinquency 12/09. Should I wait until CBCS starts reporting instead of Verizon, or what is my best course of action at this point? As always, thanks for the advice!

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Verizon can still keep reporting even if CBCS starts to report and most likely will keep reporting. First thing to do is find out if Verizon still owns the debt (as you stated) or if the debt was actually sold. Depending on who actually owns the debt does play a factor in how to proceed. 

[DUISlayer]

How do I determine which company owns the debt? I was under the impression that whoever reports to the CRA is who owns it.

[MarineVietVet]

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@mistaritalian wrote:

How do I determine which company owns the debt? I was under the impression that whoever reports to the CRA is who owns it.

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Both the OC and CA can report the debt but if the OC has sold the debt they have to report a zero balance. In that case you can't work with the OC and have to contact the CA. If both the OC and CA are reporting a balance then the OC has only assigned the debt for collection and they (the OC) still owns the debt and might be willing to work with you.

[RobertEG]

I second marinevet's comments.

Additionally, whenever a debt collector is involved, they must provide you dunning notice.  Part of the dunning notice is an identification of the current creditor.

Who did the dunning notice identify as the creditor upon whose behalf they are collecting?  Themselves, as the owner?

[LIGHTNIN]

You may find the answers to your questions in this thread...What Steps Do I Take?Do I DV?PFD?

If you have more questions, please let us know.

Oh and don't worry about this date "date of first Major Delinquency"

The important date is the DoFD ( date of first default).

The OC's and the CA's are only trying to confuse people, by listing the date of 1st delinquency.