Do I have to DV?

[webs0082]

I am new here and just trying to figure everything out!

My question is this- I have a few CA accounts reporting on my CR. I don't dispute the validity of any of them, I just was young and stupid and didn't pay my bills. If I want start down the road of sending PFD letters, do I need to DV first? Should I just DV them all in the hopes that they won't be able to validate?

Thanks!

[pizzadude]

Welcome to the forums !

It's really up to you if you want to DV.   Sometimes CAs can't validate a debt and they just drop it, or sell it to another CA, so they might go away with a DV.

If you want to just pay then I would advise sending a PFD ( Pay for Delete ) offer in writing to the CA ~ they agree to remove the account from your credit reports in exchange for payment.

[RobertEG]

No, it is not always wise to DV.

Advantages:

If you want a period of cessation of their collection activities, if they have not yet reported to the CRAs, if you think the OC cant confirm validity of the debt, or you otherwise have an issue over validity of the debt, then a DV gives you the clout of a cease collection bar until they provide verification.

Disadvantages:

You cant negotiate with them until they provide verification. Your DV imposes a cease collection bar.

You have no control over when/if they provide verification, so you are put in limbo as well as them.