Dunning Letter Action

[DoItDiva]

I received a dunning letter from a collection agency regarding an account with Shop NBC (OC), it was sold to Oliphant Financial and now I guess it was sold to the CA who sent the letter.  I do not believe the account has reached SOL and the debt is valid for $1299.  I do not have the money to PIF.  What should I do?  Should I DV, call and try to set up a payment plan, or do a PFD or Settlement Offer?

BTW the collection has not hit my credit reports as of yet. 

[FinanceGuy007]

IMO I wouldn't worry about it just yet.  Seeing how it is not on your credit report, it isn't effecting you in that area.  I would keep close watch though.  On another note,  I have sent DV's on valid debts and the collections agency could not validate, resulting in a deletions off my credit report.  Each case is different so you'll have to decide which is more effective for you?

[DoItDiva]

Thank you for the advice

[Booner72]

I disagree and would worry just yet.  You want to act before it gets on your reports.  If it was me, I'd send a letter now demanding validation and keep copies of everything.  If it comes back validated, then arrange PFD in writing.

Good Luck.

[DoItDiva]

Thank You, sounds like a good plan.  Will keep you guys updated.