It's easy to dislike ( want to use other language but trying to be polite here) I have three items on my report listed in Collections. One is with LVNV,Pinnacle Services and Calvary Protfolio services, I have requests DV from all of them, I have requested how the validate debt. Nothing. I have sent them settlement letters offering about 25% of original amount of debt, which wasn't that much. Nothing, So I figured, what he hell I called pinnacle And asked to speak to someone about making a settlement. The Referred me to Dynamic Recovery Services, Bla, Bal Bal. Told the women I wanted to make and offer to have this taken off my credit report. She said, " send use the full amount of original debt and we'll then see what we can do. Then she Hung up. Is it just a waiting game with these guys or What??? Pain in the Butt. I could use some help and guidance with these idiots. The letter I sent these folks was a combination of a lot of stuff i've gotten here. Thanks for all you do. John
@Anonymous wrote:
@Imperfectfuture wrote:
They don't usually pay for delete, those ones. I used the BBB as a method of debt validation. If no joy there (no debt validation), then complain with the cfpb. Do not file any credit report disputes yet,
If they come back with validation, you will have a contact from their office (study the other complaints on the BBB for these companies). If you want the debt deleted, you can't settle. Must pay in full. DO NOT make partial payments, that resets the SOL.
If you can put on credit card, great. Don't give them bank account. Some people use prepaid cards for this. They will charge a little extra for cc. Be sure you have full agreement, names, dates, phone numbers, etc. before you pay.
If they don't delete, call the credit bureaus, and ask to speak with US reps, and then supervisor. Tell them the agreement, date paid, names, etc. That should do it. If not, again start complaints with BBB and cfpb.
It can take a few months. If they never agree to delete, and the accounts are old and/or small, weigh the pros vs cons of paying vs letting it fall off the report. If paid as settlement, the collection still falls off same time frame, but is updated to paid, and counts as new collection. Also, some collection agencies will say they are settling, and then just apply as partial payment, resetting the SOL.To be clear - "making partial payments" in and of itself does not reset the SOL. It is the FAILURE TO COMPLETE an agreed payment plan that resets the SOL. That, in essence, constitutes a new cause of action that results in a 'new' SOL for that cause. There is nothing wrong with making payments, as long as you fully intend to follow through, and fully understand the ramifications if you don't.
In some states any payment can restart the SOL, one needs to look up their particular states laws to actually see what they have to say about it. You are correct if one makes a written agreement to pay then fails to follow thru the SOL is reset to the DoFD of the agreement.
@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
@Imperfectfuture wrote:
They don't usually pay for delete, those ones. I used the BBB as a method of debt validation. If no joy there (no debt validation), then complain with the cfpb. Do not file any credit report disputes yet,
If they come back with validation, you will have a contact from their office (study the other complaints on the BBB for these companies). If you want the debt deleted, you can't settle. Must pay in full. DO NOT make partial payments, that resets the SOL.
If you can put on credit card, great. Don't give them bank account. Some people use prepaid cards for this. They will charge a little extra for cc. Be sure you have full agreement, names, dates, phone numbers, etc. before you pay.
If they don't delete, call the credit bureaus, and ask to speak with US reps, and then supervisor. Tell them the agreement, date paid, names, etc. That should do it. If not, again start complaints with BBB and cfpb.
It can take a few months. If they never agree to delete, and the accounts are old and/or small, weigh the pros vs cons of paying vs letting it fall off the report. If paid as settlement, the collection still falls off same time frame, but is updated to paid, and counts as new collection. Also, some collection agencies will say they are settling, and then just apply as partial payment, resetting the SOL.To be clear - "making partial payments" in and of itself does not reset the SOL. It is the FAILURE TO COMPLETE an agreed payment plan that resets the SOL. That, in essence, constitutes a new cause of action that results in a 'new' SOL for that cause. There is nothing wrong with making payments, as long as you fully intend to follow through, and fully understand the ramifications if you don't.
In some states any payment can restart the SOL, one needs to look up their particular states laws to actually see what they have to say about it. You are correct if one makes a written agreement to pay then fails to follow thru the SOL is reset to the DoFD of the agreement.
There are 11 or 12 states that actually require a written, signed repayment agreement to rest the SOL. Then there are few that will reset with a 'firm agreement' to pay. The rest fall 'in between' those extremes. But the commonality among all is that its the FAILURE TO FOLLOW THROUGH that creates the second cause of action that resets the SOL. An SOL always arises from a 'cause of action' - merely 'making a payment' is itself not a cause of action.
Now, addressing imperfect's last sentence - Such an action by the CA is itself an actionable breach of contract, either verbal or written and would also open them up to FDCPA violations (essentially lying to collect a debt) with statutory fines.
Yup, this would be a huge violation of the FDCPA and a few other federal laws. Would be time to see them in court.