DV and SOL

[surfone7]

I have an old account that passes the SOL this month, not sure of the exact date because the credit reports just list 03/06 as the DOFD and 03/06 as the DOLP. I received a letter from a CA concerning this account last week asking for payment ( inflated amount at that) and saying they bought the debt from the OC.  They are not on my credit report (yet), should I send a DV or let it ride until the end of the month and then send one?  Not send one at all? I don't have the money to pay this account right now. Help!

[Lois5669]

If they are not on your report yet, I would DV them now. When they get that DV, it will delay them being able to report on your CR until they validate. By that time, the SOL will have passed and it MIGHT deter them from ever reporting since it will only be able to be reported for another year or so. This is what I just did anyway. I had a VERY similar situation as you.

[RobertEG]

Are you still within the 30-day period after receipt of the dunning notice?  If not, the DV will be untimely, and thus would not invoke an automatic cease collection bar.

I would still send one to request debt verification, but unless you live in Texas, response is not mandatory.  They may still choose to respond to a DV, even though it is untimely, but failure to do so while continuing collection on the debt would not be an FDCPA violation.

Additionally, the statutory expiration of the credit report exclusion period for a collection is 7 years plus 180 days from the DOFD, not 7 years.

So you would appear to have 6+ months before mandatory CR exclusion.

[surfone7]

Thanks for responding

I am still in the 30 day window for the DV so I sent one out yesterday.

On my credit reports the OC is scheduled to be deleted 03/13, so if the CA decides to report, will they be on there for 6 additinal months after the OC has been deleted?

[Repo-ed]

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@surfone7 wrote:

Thanks for responding

I am still in the 30 day window for the DV so I sent one out yesterday.

On my credit reports the OC is scheduled to be deleted 03/13, so if the CA decides to report, will they be on there for 6 additinal months after the OC has been deleted?

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7.5 years after DoFD