12-13-2012 11:25 AM
Since I am past the SOL on this account should i just send letter to only contact via mail as this is a time barred account ? Then just wait until it falls off or gets closer to falling off then dispute?
12-13-2012 11:43 AM
another question.. this CA (asset acceptance) also has that they are the factoring company on my CR however from what I read that means they are stating they are original debtor?
12-13-2012 11:48 AM
If you send the C&D letter it will exclude any further communication. You can't just pick how they contact you, you can only request they not contact you at work. This will prevent you from any attempts with them to remove the TL.
The fact that they are listing themselves as a Factoring Company isn't relevant. It does however give them the ability to change certain items on the TL and to report some things that only an OC can. Now if they choose to go this route, then you will have a valid complaint, and yes I've used that for deletion.
12-13-2012 12:59 PM
Factoring companies are recognized and legitimate businesses.
It is not the reporting per se as a factoring company that gives rise to the problems with some debt collectors, it is their resulting interpretation that being a factor on the debt somehow converts their collection into an installment account with the consumer. It is that additional reporting that is, in the view of most, clearly improper.
12-14-2012 04:14 PM
Since they have this la count listed as an installment account and they are the factoring company, should I dreariest a dv from them then dispute with CRA? Sorry for so many questions,,, new to this
12-15-2012 12:40 PM
The DV process is a debt collection practices procedure under the FDCPA to compel cessation of collection on a debt until the debt collector verifies that they have investigated the consumer's obligation and confirmed the name of the creditor and the amount of the asserted debt. It has no period for response, and does not relate to the accuracy of their credit reporting per se.
If accuracy of reported information is at issue, it should be addressed by way of dispute of its accuracy under the FCRA. Entirely different process. Either of the two dispute processes have a 30'ish day period for them to investigate and provide verification, correct their reporting, or delete their reporting.
You can pursue both. It's not a one or the other.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.