01-07-2013 11:10 AM
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!)
01-07-2013 11:22 AM
Send a DV to the address on your report. If you agree, send a PFD. See what they say.
01-07-2013 11:22 AM
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.
01-07-2013 12:08 PM
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?
01-07-2013 07:49 PM
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.
01-08-2013 07:15 AM
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?
01-08-2013 11:43 AM
Send them a DV, then if they verify, send a PFD.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO