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Debt Validated:what should I do?

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aldex
Valued Member

Re: Debt Validated:what should I do?

I wouldn't be able to do a lump sum if they come at me for the other ones they have. I've been tackling my baddies this year. It feels like I've awoken all the giants even without a DV.

I don't know if they will even accept a small settlement per account.
Message 11 of 18
pisspoorcredit
New Contributor

Re: Debt Validated:what should I do?

Since they have sent back the validation, and only if youre able to pay the amount. send back a PFD with a percentage of the amount. The amount depends on how old it is...so I've heard. Maybe try with 30%...and ONLY if you are able to pay it if they agree.

Starting Score: 503
Current Score: 510
Goal Score: 700


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Message 12 of 18
Shogun
Moderator Emeritus

Re: Debt Validated:what should I do?

Something that you may not be aware of.  They are doing these DVs, disputes, etc. as you!  They are not coming out as a credit repair company or a Law Firm, they are representing as you are the one that is doing this.

 

The CRAs do not have to respond to third parties, and if they think this is coming from a 3rd party they will mark it as frivolous and will inform you of such and that they will no longer investigate the matter.

 

Credit Repair Agencies also do not communicate with the lenders, so anything they send will also appear to come from you.  I'm sure you sent them ID, maybe an electric bill, etc... this is so if they are asked, they will send this as proof it's you, even though it's not.

 

So yes, just hiring them can poke the bear and you will not have a recourse.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 13 of 18
eric19k
Established Contributor

Re: Debt Validated:what should I do?

Shogun have you ever thought about opening FICO Law credit management and repair co?
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 14 of 18
eric19k
Established Contributor

Re: Debt Validated:what should I do?

You would be 100 times better than Lexington Law
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 15 of 18
TheFate
Established Contributor

Re: Debt Validated:what should I do?

I dont get it..

 

Why would you even consider sending a DV letter knowing you wern't financially obligated to pay if it came back verified? You can't always assume just because you read someone elses success stories about how a DV letter worked and it got removed from their report it would be the same for you. Everybody's situation is different.

 

A DV is requesting proof of debt and so if it is validated as requested with orginal documents the next step is to request a PFD in writing then pay.

Message 16 of 18
eric19k
Established Contributor

Re: Debt Validated:what should I do?

Also you need to be outside of SOL
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 17 of 18
Shogun
Moderator Emeritus

Re: Debt Validated:what should I do?


@eric19k wrote:
You would be 100 times better than Lexington Law

My patients at my regular job might not like it.   lol.  Smiley Happy

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 18 of 18
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