Do I DV? GW? Chase Circuit City

[Anonymous]

Wow. I could really use a hand with this one. I have researched and researched but still just do not where to begin. Thank you, sidewinder, for posting your thread: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142. This is really helpful information!

But...I am still confused and hope someone can help me out.

I see on my CRs that Chase - Circuit City is heavily reporting lates on an account, which is now closed at credit grantor's request as of July 2005. I feel like I may be able to do something here to get it off my reports, but just don't know where to begin.

1. I lived in Georgia at the time I took out this credit card. I see that the SOL for Georgia is 4 years for open accounts (including credit cards). I now live in South Carolina and the SOL here is 3.

2. Of course, I am not receiving any statements and such for the account. The account was never sent off to a CA. The OC, Chase: Circuit City, is who is reporting all of this on my CRs.

3. The account number does not appear on any of my 3 CRs. So, I am not even sure how I would proceed with the DV (if that's what I would need to do).

     Also, in regards to a DV, - should one be needed - I just am unsure how to wordsmith it, in general. I have looked at several DV examples, but it seems that they are asking whether or not the debt at hand is theirs to begin with. I do now understand that this is my debt. I have to admit that when I first looked at it, I had NO idea what it was. It's been a long time ago!!!

So if I do need to send in a DV, how would any of you suggest I explain what I need to say?

4. Okay. So if I send in the DV and Chase either comes back and says PAY UP or decides to now send it over to a CA are the options in my favor since my SOLs are up? I don't want to open up a can of worms here, but if they decide to sue (or whatnot), can I say 'bring it on' for I have the SOLs in my favor?

As you can see, I am actually having a difficult time just typing this post, for I really don't even know what questions to ask.

I do not like being this clueless about something I am trying so hard to understand, but I kind of feel like I may have a chance to nip it in the bud and have it removed. Am I making any sense?

*sighs*

[Anonymous]

Oh, and I forgot to add this:  LOL! ::so confused!::

5. If Chase does come back and say, this is your debt, then what? It's just "is what it is"?

I am so sorry for being such a doofus, but I really do appreciate anyone's help!!!

[JoeBJay20]

Well technically you can't DV an OC, the DV process is only for collection agencies.  Regardless of what state you go by, the SOL appears to have expired.  You need to find the DOFD, for which you'll need to get your reports directly from the bureaus.  Pull your free annual reports at annualcreditreport.com if you have not done so already.  Those reports should list an account or partial account number.  EQ will list the DOFD, TU and EX will list the fall off date.  If the accounts are going to fall off within the next 6 to 12 months, just let it fall off on its own.  If not, then you can try to negotiate a PFD, and you have the leverage of the account being past SOL. 

[fused]

bump