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Frequent Contributor
Posts: 394
Registered: ‎05-16-2013
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DV or PFD?

If I know that an unpaid charge off is mine, should I waste the $3 sending a DV or should I just send a PFD?

5/16/13 Starting FICOEQ: 521 FICOTU: 536 FICOEX: 571
5/13/14 Current FICOEQ: 668 FICOTU: 690 FICOEX: 673
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
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Re: DV or PFD?

Is the CA actively collecting, as in sending dunning notices, calling, updating your report?

 

If they are, I would just ask for a PFD as that would show they actually have collection authority.

 

 

Frequent Contributor
Posts: 394
Registered: ‎05-16-2013
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Re: DV or PFD?

Yes, they are actively collecting.  I will just send PFD.  It is CAP1.  Hopefully, they will help a girl out! Smiley Wink

5/16/13 Starting FICOEQ: 521 FICOTU: 536 FICOEX: 571
5/13/14 Current FICOEQ: 668 FICOTU: 690 FICOEX: 673
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: DV or PFD?

Frequent Contributor
Posts: 394
Registered: ‎05-16-2013
0 Kudos

Re: DV or PFD?

WOW! I do have a lot to learn! So I only send PFD to a CA?

5/16/13 Starting FICOEQ: 521 FICOTU: 536 FICOEX: 571
5/13/14 Current FICOEQ: 668 FICOTU: 690 FICOEX: 673
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: DV or PFD?

No, you can send a PFD to the OC or the CA, whichever one is reporting.

 

A DV is debt validation and is used for 3rd party collection accounts.

 

Who is reporting the debt?

Frequent Contributor
Posts: 394
Registered: ‎05-16-2013
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Re: DV or PFD?

[ Edited ]

 

   

Here is what is on my report.  SHould I PFD, DV, or GW them?

 

 

Account Name                                                                        Date OpenedBalanceDate Reported Date of last reported update.Past DueStatus Condition of account when last updated by creditor or otherwise.           Credit Limit
 CAPITAL ONE BANK USA 

 CAP1

DOFD 7/07

12/13/2004 

$1,839   

05/20/2013 

$1,839   

CHARGE-OFF

$500   

CAPITAL ONE BANK USA 

 CAP1

DOFD 5/07

10/05/2005 

$1,503   

05/20/2013 

$1,503   

CHARGE-OFF

$500   

COMENITY BANK/LNBRYA 

 Lane Bryant

DOFD 08/06

12/13/2004 

$640   

04/20/2013 

 

CHARGE-OFF

$0   

FINGERHUT/METABANK 

 Fingerhut

DOFD 11/11

08/22/2009 

$0   

02/20/2013 

 

CHARGE-OFF

$296   

FINGERHUT/WEBBANK 

 Fingerhut (same account as above)

DOFD 11/11

08/22/2009 

$0   

04/20/2013 

 

CHARGE-OFF

 

MIDLAND FUNDING LLC 

 

 Fingerhut (same account as above)

DOFD 11/11

01/31/2013 

$369   

04/23/2013 

$369   

COLLECTION ACCOUNT

 

PORTFOLIO RECOVERY A 

 AMEX CARD

DOFD 03/07

05/05/2009 

$1,857   

03/05/2013 

$1,857   

COLLECTION ACCOUNT

 

PORTFOLIO RECOVERY A 

 HSBC CARD

DOFD 07/07

12/05/2007 

$0   

03/05/2013 

 

COLLECTION ACCOUNT

 

    
        
        
        
        
        
        
        
5/16/13 Starting FICOEQ: 521 FICOTU: 536 FICOEX: 571
5/13/14 Current FICOEQ: 668 FICOTU: 690 FICOEX: 673
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: DV or PFD?

From that chart, the only OC that does not own the debt is Fingerhut.  You would need to work with the corresponding CA, which is Midland.

 

The rest of them, by reporting a balance, indicate the debt is still owned by the OC.  You can request PFDs from the OC.

 

If a debt is still within your states suing SOL it is not a good idea to send a DV letter unless you are able to pay the full amount.  Reason being is they could sue you.  If it is not within suing SOL, you have a choice.  If the CA is reporting monthly that indicates they have collection authority and you can forego the DV and just send a PFD.

 

If they have not reported in a while, send a DV and if they validate, ask for a PFD.

Frequent Contributor
Posts: 394
Registered: ‎05-16-2013
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Re: DV or PFD?

Thanks!

 

In response to the SOL, I thought they had to remove after 7.5 years.  So would it make sense for me to shell out money if it is scheduled to come off within a year?

5/16/13 Starting FICOEQ: 521 FICOTU: 536 FICOEX: 571
5/13/14 Current FICOEQ: 668 FICOTU: 690 FICOEX: 673
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: DV or PFD?

Your states suing SOL is not the same thing as the CRTP.   Yes, CO's and collections are removed no later than 7.5 years from the DoFD but your states suing SOL could be longer than 7 years, depending on your state.

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