How Do I take card of this Nationwide Credit, INC.

[traveler2005]

Hi All

I received a notice from Nationwide Credit INC saying that they are handling an account for LVNV Funding for   $6,087  for original creditor Providian National Bank

I had an account from 2000 - 2002 and it was paid off, shows on credit report as paid in full. Should I DV this company or send  a notice that this is past SOL and to stop collection effort or C&D letter. OH buy the was they say they are willing to settle for 70% off the balance,  Buy my calculation 70% of 0 = 0.  Any help would be appreciated.

Thanks. I have spent many hours reading these blogs and improved my credit scores from the low 500's to my current scores. Thanks to all of  you!

EXP FAKO 646 11/25

EQ fico 628 11/25

TU fico 651 11/25

Goal 700 across the Board

[llecs]

It's Providian (/WaMu/Chase) that reports, as a positive now, right"..as opposed to a CA? If Providian reports $0, does that mean you paid it? If not paid, at some point in time they would have sold it and thus reports $0. It wouldn't mean that the debt is finished by any means, and the CA can collect on it forever past SOL and the 7-yr CRTP. If you are past your state's SOL, and since CRTP would have ended a year or two ago I guess, then I'd ignore the CA assuming you won't pay the debt. I wouldn't even bother with the stamp.

[traveler2005]

Yes providian reports 0 balance, paid in full, account closed at consumers request. No CA for this account listed on credit report. Account was paid. Took out a consolidation loan to pay off  several cards. Afraid if I don't DV it, that this company will start reporting this account to CRA's. Yes SOL would be past 6 years, both in original state card was obtained and current state.   Any feedback would be appreciated.

Thanks

[LIGHTNIN]

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@llecs wrote:

It's Providian (/WaMu/Chase) that reports, as a positive now, right"..as opposed to a CA? If Providian reports $0, does that mean you paid it? If not paid, at some point in time they would have sold it and thus reports $0. It wouldn't mean that the debt is finished by any means, and the CA can collect on it forever past SOL and the 7-yr CRTP. If you are past your state's SOL, and since CRTP would have ended a year or two ago I guess, then I'd ignore the CA assuming you won't pay the debt. I wouldn't even bother with the stamp.

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+1 agree with llecs.  The CA can not report on your CR, it's passed the CRTP.

CA's can only report up to  7.5yrs from the DoFD on the OC account.

SOL  has nothing to do with Credit Reporting.

SOL is the legal time limit a creditor has to collect a debt and since this debt is PIF, that means there's nothing to collect, the  SOL is no longer  in play.

[hoping2rebuild]

I had the same problem with ERSolutions for an old old debt

I would have left it alone but they kept calling 4 to 5 times a  day

waking up my husband (works nights) so I sent them a nice

FOAD/Past SOL Cease and Desist letter.

It might have cost a stamp but at least my husband can sleep