Cavalry SPV

[Anonymous]

Hello,

Over the past few months during report clean-up I disputed a collection that I didn't recognize and all 3 CAs removed the collection. Last week I received a letter from Cavalry SPV stating that they "purchased" this debt from HSBC. Being that I am afraid of it "reappearing" on my reports, I contacted them. I told them it was a debt that I am not aware of and they are sending me a "validation form". The strange thing is that they had my last address but sent it to me at my current address which I verified (not sure if I shot myself in the foot).

He told me that my last payment on the account was January of 2011. In MA I believe the SOL is 7 years. Does that mean that they can't do anything after this January?

I'm finally have my credit scores all in the mid to high fair range (bordering on good). Any advice on how to handle this will be greatly appreciated.

Thank you for any help!

[Anonymous]

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@Anonymous wrote:

Hello,

Over the past few months during report clean-up I disputed a collection that I didn't recognize and all 3 CAs removed the collection. Last week I received a letter from Cavalry SPV stating that they "purchased" this debt from HSBC. Being that I am afraid of it "reappearing" on my reports, I contacted them. I told them it was a debt that I am not aware of and they are sending me a "validation form". The strange thing is that they had my last address but sent it to me at my current address which I verified (not sure if I shot myself in the foot).

He told me that my last payment on the account was January of 2011. In MA I believe the SOL is 7 years. Does that mean that they can't do anything after this January?

I'm finally have my credit scores all in the mid to high fair range (bordering on good). Any advice on how to handle this will be greatly appreciated.

Thank you for any help!

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If you are certain you never had a delinquent account from HSBC, I would inform Cavalry that you believe this account may be the result of ID theft. If they do reoport it, you can get it quickly removed by using the ID theft provision of FCRA.

[Anonymous]

I'm sorry, but i think you just made a mistake by contacting them ( anyone correct me if im wrong).  The clock will now reset due to this contact.

What's the amount? are you going ot pay it off? PFD.

[Anonymous]

It wasn't my intention, was just looking to find out what it was.

I haven't agreed to anything other than having them send me a Validation Form.

The letter I have says that they "purchased" the debt. he told me it was a debt that I last paid on Jan/2011.

He said it was for $1,096

[Anonymous]

Looks like people have been served by them (I didn't want that to happen), so called thinking I was doing the right think

[Anonymous]

Thank you @NormanFH

[Anonymous]

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@Anonymous wrote:

I'm sorry, but i think you just made a mistake by contacting them ( anyone correct me if im wrong).  The clock will now reset due to this contact.

What's the amount? are you going ot pay it off? PFD.

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THIS IS NOT TRUE. There is no legal way of "resetting the clock".

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I'm sorry, but i think you just made a mistake by contacting them ( anyone correct me if im wrong).  The clock will now reset due to this contact.

What's the amount? are you going ot pay it off? PFD.

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THIS IS NOT TRUE. There is no legal way of "resetting the clock".

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Are you sure? Not questioning you, just want clarification.  I've read other posts in the past regarding this clock and conctact.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I'm sorry, but i think you just made a mistake by contacting them ( anyone correct me if im wrong).  The clock will now reset due to this contact.

What's the amount? are you going ot pay it off? PFD.

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THIS IS NOT TRUE. There is no legal way of "resetting the clock".

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Are you sure? Not questioning you, just want clarification.  I've read other posts in the past regarding this clock and conctact.

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Resetting of the reporting clock is ILLEGAL. It does not occur legally under any circumstances. THe only sort of clock that is resettable is for SOL which controls how long they have to take you to court. That clock can be reset by establishing a repayment plan and then defaulting again. The second default is a new "cause for action" that you can be sued for - but it is in no way related to the 7 year reporting clock.

[RobertEG]

The FCRA was specifically amended back in the 90's by the addition of sections 605(c) and 623(a)(5), which established the use of the DOFD, and the DOFD alone, to determine the running of the credit report exclusion period.

The DOFD is a factual date-certain that is based only on your delinquency history with the creditor.  No other date affects credit report exclusion, and there is no "reset" of the credit report exclusion date based on any contact with, payments made to, or any other actions pertaining to the debt collector.

The only way to legally change ("reset") the credit report exclusion date of a collection is to update the reported DOFD, which can be done only if the prior reporting is considered to have been inaccurate..