05-05-2011 06:49 PM - edited 05-07-2011 09:58 PM
I just discovered an incorrect item showing as a collection from National Recoveries. I naively contacted the company thinking that they would realize their mistake and remove the item. Later, when I Googled them, I discovered that others have had the same problem.
I disputed the item with the credit bureau, but it was validated, even though I do NOT owe the money. It's only $30 and I'm tempted to pay it just to get it off of my credit report, but I feel like I'm being blackmailed. What they are doing is completely illegal. Is there any recourse?
I did some search on the forum and saw some people had luck with a DV with this "company." Help! I looked up the abbreviation, but what is a "debt validation" letter? Where can I find a sample of a good one? Or is there a better suggestion? The OC is BMG or Columbia Records, I'm not sure which. The CA would not give me ANY information to contact them or to validate the debt. From what I've read on the forum and on Google searching under their name, they seem to be unethical.
What is the best course of action to get this off of my credit report?
05-05-2011 09:56 PM
Welcome to the forums!
I'd suggest reading the following:
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
I'd start by sending a DV letter.
05-06-2011 02:19 PM - edited 05-07-2011 09:59 PM
Thank you for the links. I have been reading the forum posts yesterday and today.
I read a strand of posts about non-authorized inquiry letters, which raised a question:
In addition to putting an erroneous collection on my CR, they also made a hard inquiry in the same time period. I just discovered this (both the collection item and the inquiry) when I pulled my CR last week.
I'm prepared to send them a DV letter; however, now I'm wondering if I should also tell them to remove the unauthorized inquiry. I'm a bit confused about this because I've read some posts that say that all inquiries made by CAs are valid, even when they are hard. But I've also read some posts that say that they don't have permissible purposes and can be removed.If the debt isn't valid, then they didn't have a right to make a hard inquiry, right?
Would it be better to wait until they don't validate the debt (assuming they can't) and then ask that the inquiry be removed?
I'd appreciate some advice as to the best way to handle this. I am concerend that I messed it up because I made the mistake of calling them when I initially discovered it on my CR last week. They would give me NO evidence that it was my debt, nor would they give me any contact information for the OC so I could contact them to straighten it out.
Thanks so much!
05-06-2011 04:21 PM
I'd include in the DV a mention that you want them to retract the inquiry. IMO, based on the FCRA, a CA has permissible purpose and can pull your reports. However, if you don't owe money to the OC and this is a case of mistaken identity, then they do not have permissible purpose.
05-06-2011 05:24 PM
I have been trying to get these people off my report for 3 years.
No idea what it is for. It just showed up one day for $67. I have sent them DVs which they ignored and disputed which came back verified.
As you said, there seems to be many having issues with them.
05-06-2011 05:40 PM - edited 05-07-2011 09:59 PM
Thank you for the replies.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.