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I expect that PRA will be contacting you. When they do, send for dv. Always send for dv. A dv covers a lot of ground. It not only forbids a collector from contacting you about the debt but they cannot do any credit reporting or even file a lawsuit until they return dv.
You could try to send for dv before PRA contacts you but there is case law which states that it is the collector who must initiate the intial contact to trigger your dv rights. If they don't respond to your request for dv then they have not made initial contact. If they do then you have started the ball rolling and they must then send you your dv rights.
I would keep a close eye on your cr as PRA generally gets a report shortly before they contact debtors. You can also dispute the debt and PRA won't be able to list their tl without listing it as disputed. This is helpful because CRAs typically won't consider disputed accounts when assessing credit scores. Then, if PRA does list the account on you cr, they must list their tl as disputed also. I would send a dispute to both the OC and PRA to make sure that the tl is listed as disputed.
Disputing a debt gives the collector a heads up that you won't be rolling over quickly and subsequently asking for dv is almost like a death blow because I've never known a JDB willing to spend the money to send after dv. They usually simply go away. A few will write a last letter (generally allowed) as a last attempt to collect. Either way, if you first dispute the debt, let them respond, then ask for dv, you've covered all the bases. You could also send a C&D but the dv pretty much does that and covers more area.
Sorry but all this is confusing me. What is a dv and I started this thread awhile ago and still getting calls, notices, reports on my cr from this company and all my debts are over 7 yr old and I live in Florida yet they are allowed to put on my report even if older then 7 yr I was told. I was told if they are bought from other collectors and even the original lender/card issuer then its OK for them to report it on crs and start the clock over. What can I do to get all older then 7 yr off my reports? Oh what is a GW, PFD and other 2 letters words? Thanks
Thank you for the link I'm heading there to read. I would love to challenge it but no clue where to start? Any and all advise will be used to the fullest. Thanks
So you're saying I should send a dispute letter *right now* to US Bank (OC) and PRA before initial contact,
I would. With disputes you don't need to wait for initial contact from the JDB. This is kind of a band-aid because it does nothing to settle the debt but basically sets up some possible violations for the collector. You probably won't snag the OC although you could.
It does not matter that the debt is legitimate. Once the debt is sold mistakes happen and a dispute only says that you want proof that the debt which PRA bought is legitimate. They may be adding unauthorized interest or other add-on charges which the original contract does not provide for. And, as I said, the tl must be listed as disputed. This should lift up your fico score because the CRAs usually won't consider a disputed account when assessing the score. If PRA lists their own account then they must list it as disputed else they have violated the FDCPA. Most of this does not apply to the OC because they are not liable to the FDCPA. However, they also may not list their tl as disputed and they have just violated the FCRA.
The dispute letter should be short and to the point. One or two sentences will do. To the OC you would say something like, "I dispute the debt #000000 which you have listed on my credit report. I request all documentation which verifies this debt." Done. To PRA you would say almost the same thing except, since PRA has not contacted you as of yet, you would say something like, " The OC has stated that you have bought an alleged debt of mine. I have disputed this debt with the OC and I am now disputing the same debt with you. I request all documentation which verifies this debt." Done.
What can I do to get all older then 7 yr off my reports?
Wait 6 months. All delinquent debts fall off after 7 1/2 years. The only way a collector can restart the clock is if you made some payments to them. The 7 1/2 years starts from the last payment you made. If you get a cr from one of the Big 3 they will generally list when the derogatory account will be removed. If 8 years passes then you should write the CRAs and dispute that the debt is still being listed.
You can send a cease and desist order to the collectors to stop the phone calls and notices. You can't do anything about the credit reporting except dispute the tl.
Strange thing is I have not paid on these debts yet they are showing as ending in 2013 or 2014 and they were opened like 1996 or earlier. I am so confused as I said when I inquired I was told they were bought and the clock starts over from the time they were bought. I have never paid or agreed to so what do I do send another letter to the credit report companies which I did a few years ago and tell them these are too old to be listed? While doing that send a letter to PRA and tell them to send me the proof of these charges? Thanks
@dam1120 wrote:Strange thing is I have not paid on these debts yet they are showing as ending in 2013 or 2014 and they were opened like 1996 or earlier. I am so confused as I said when I inquired I was told they were bought and the clock starts over from the time they were bought. I have never paid or agreed to so what do I do send another letter to the credit report companies which I did a few years ago and tell them these are too old to be listed? While doing that send a letter to PRA and tell them to send me the proof of these charges? Thanks
Send them a DV, it doesn't matter whtn they bought it or when they acquired it. That doesn't set the clock for anything. The clock for SOL and CRTP is set by the OC only. And it starts when the account first went into arrears and was not brought current.