Rebuilding Your Credit

[schrute]

Only the FTC can sue under Section 611. So they're not required to delete? I've coupled 623 in my complaint alleging that if they do not provide a method of verification then I regard the TL as unverified.

[schrute]

TU is not being cooperative. Will MOV work to get this off?

[schrute]

I'm going to try and push back on them.

[schrute]

Anyone have any luck?

[guiness56]

Is this a valid debt that you owe?

[schrute]

It's a charge off and can't be paid off, therefore no..

[guiness56]

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schrute wrote:

It's a charge off and can't be paid off, therefore no..

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What do you mean by that?

[DaBears]

Just because it's a charge off doesn't mean it's not a valid debt. Charge Off means the OC wrote it off at the end of the yr for tax purposes. The debt will always still be owed to who ever picks up the debt.

[schrute]

I mean, how does one pay it? Doesn't the company post the CO if they can't collect on it and sell it to a JDB?

[guiness56]

No.  A CO is only an accounting term.  It doesn't mean the money isn't still owed.  If you owed them the money you will always owe them the money until it is paid.  Not all companies sell their COd accounts to JDB, some maintain them themselves.

Can't collect means the borrower didn't pay,  not that it is uncollectable by any other term.