Cavalry dispute letter question...more

[Anonymous]

I sent a PFD, yes I have read that they don't often accept these. I think that they misunderstood what I was requesting and I recieved a pink letter stating the following: 

Cavalry is in receipt of a letter of dispute made pursuant to the Fair Credit Reporting Act ("FCRA") on the above- referenced account. 

In acknowledgement of the dispute, we have requested that the consumer reporting agencies report the account as disputed. 

We have reviewed the dispute and find the dispute lacking in any specific facts or information which would allow us to conduct an investigation. Because the dispute alleges no specific information to form the basis for an investigation, we are unable to investigate the dispute in pursuant to the FCRA.

Please provide us with the specific information that is being disputed anda n explanation of the basis of the dispute. 

We are treating the dispute letter as a request for validation under the FDCPA. We will write to you again within 150 days from the date of this letter. 

If you have any questions, please contact us at ********** from 9am to5pm.

Sincerely, 

Customer relations department. 

First, I am lost to my next steps with them. 150 days is too long for me to wait to have this resolved, if possible. Its my last baddie and I am planning on doing a mortgage this summer (if I can, scores are decent and this is the only baddie on my report). 

I know what account this is referencing and would perfer to pay it and be done, hoping to get it removed, I have heard they are a hard nut to crack. I have the money to pay it in full. Should I wait out their validation process, or just pay it and GW them? 

Thanks! 

[RobertEG]

They have made an interpretation of your communication as being an insufficient direct dispute, as it lacks the required showing under FCRA 623(a)(8), and have chosen to treat it as a request for debt validation under FDCPA 809(b), which requires no specific showing of an inaccuracy in their reporting.

Their interpretation is not unreasonable, but if you disagree, write and let them know.

Clarification of your intent is now necessary should you consider your letter to be neither a direct dispute nor a request for debt validation.

If you both accept as a DV request, then the relevant issue becomes whether the request was timely (i.e., whether or not it was sent within 30 days of their dunning notice).  A timely DV imposes a cease collection bar, while an untimely request does not.

Additionally, regardless of whether timely, a DV imposes no period for or requirement to respond, and thus there is no set period within which validation must be provided.

A decision as to whether to wait until possible validation is sent thus results in an unspecific period of limbo.

If you wish to discharge the debt now, such as to stop further accrual of interest or show discharge of the debt for some reason, such as a required payment as a condition for a mortgage approval, then paying may be prudent.

It is dependent upon your personal situation.....