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Collection Agency- How to deal??

Established Member

Collection Agency- How to deal??

I need a bit of help.

 

There is one chargoff that is currently unpaid on my credit report.

 

I want to pay it, but I'm kind of terrified of dealing with the collection agency (I've heard TERRIBLE stories of phone harassment...).

 

The CA calls about 3 times/day and I have never picked up the phone. What should I / should I not say when first dealing with them? I've read places that you should just ask for debt validation and then hang up, is that true??

 

Just want this off my conscience (and report!) Smiley Wink


Starting Score: 624
Current Score: 677
Goal Score: 700


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7 REPLIES
Moderator Emeritus

Re: Collection Agency- How to deal??

Send a DV to the address on your report.  If you agree, send a PFD.  See what they say.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Community Leader
Epic Contributor

Re: Collection Agency- How to deal??

A bit of history on past actions by the debt collector is needed.

 

Has the debt collector already reported their collection to the CRA?

If so, that triggered their requirement to have sent dunning notice within 5 days thereafter.

 

Has the debt collector sent you a formal collection (dunning) notice, and if so, what is its date?

If so, it set a 30-day period in which any DV would be timely.  If your DV is timely (either the debt collector has never sent dunning notice, or the DV is sent within the 30-day period), it invokes an automatice cease collection bar on them, which remains in force until they provide the requested debt verification.

 

If they have never sent dunning notice, any DV you send will be timely, and thus invoke the automatice cease collection bar.

 

So you options depend on the facts of your case.

 

 

Established Member

Re: Collection Agency- How to deal??

On my credit reports, It's marked from M&T bank as a charge-off. However, the collection agency actually HASN'T shown up on my CR yet. 

 

The only contact I've had from the CA is via phone (nothing in the mail). As I mentioned, I haven't yet picked up their calls due to the fact that I want to have an informed conversation with them. I know who they are only by listening to their voicemails (and I googled their number).

 

So, try to find an address and ask for a DV?


Starting Score: 624
Current Score: 677
Goal Score: 700


Take the myFICO Fitness Challenge

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Established Member

Re: Collection Agency- How to deal??

Bueller, Bueller?


Starting Score: 624
Current Score: 677
Goal Score: 700


Take the myFICO Fitness Challenge

Take the myFICO Fitness Challenge
Moderator Emeritus

Re: Collection Agency- How to deal??

If they are calling you, then there should be a dunning notice.  They are required to send one within 5 days of trying to contact you.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Established Member

Re: Collection Agency- How to deal??

Well, I have surely not received one, though I moved within the last year from DC to Chicago so it's possible that it got lost somewhere along the way. Are you saying it is NOT possible to ask for a DV?


Starting Score: 624
Current Score: 677
Goal Score: 700


Take the myFICO Fitness Challenge

Take the myFICO Fitness Challenge
Highlighted
Moderator Emeritus

Re: Collection Agency- How to deal??

Send them a DV, then if they verify, send a PFD.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.