Hello,
If anybody could give me some advice on what I should do next would appreciate it. I sent a DV CMRRR to IC System Inc and they stamped and signed, recieving it on January 28th and sent it back to my wife. Since we live here in Texas I cited the Texas Finance Code sec 392.202(b) Subchapter C, basically asking them to send me validation of this debt and additionally requested the Original Creditor and the amount of debt they claim my wife owes.Its now March 12th and we have not recieved anything from them validating this debt it was for at&t $44 dollars.When we first found out about this collection that just popped up it was only showing on her Equifax Fico and her Experian credit report not Transunion Fico, but after sending the DV letter to IC Systems I checked my wifes Experian credit report in early February and collection was gone, then last time I checked her Experian report was 2/15/13 and it was still gone. Last time I checked her Equifax Fico was 2/15/13 and it was still reporting and its never been on her Transunion report the annual free one or the Fico one. The Texas Finance Code States:
(b) Not later than the 30th day after the date a notice of inaccuracy is received, a third-party debt collector who initiates an investigation shall send a written statement to the individual:
(1) denying the inaccuracy;
(2) admitting the inaccuracy; or
(3) stating that the third-party debt collector has not had sufficient time to complete an investigation of the inaccuracy.
(c) If the third-party debt collector admits that the item is inaccurate under Subsection (b), the third-party debt collector shall:
(1) not later than the fifth business day after the date of the admission, correct the item in the relevant file; and
(2) immediately cease collection efforts related to the portion of the debt that was found to be inaccurate and on correction of the item send, to each person who has previously received a report from the third-party debt collector containing the inaccurate information, notice of the inaccuracy and a copy of an accurate report.
(d) If the third-party debt collector states that there has not been sufficient time to complete an investigation, the third-party debt collector shall immediately:
(1) change the item in the relevant file as requested by the individual;
(2) send to each person who previously received the report containing the information a notice that is equivalent to a notice under Subsection (c) and a copy of the changed report; and
(3) cease collection efforts.
(e) On completion by the third-party debt collector of the investigation, the third-party debt collector shall inform the individual of the determination of whether the item is accurate or inaccurate. If the third-party debt collector determines that the information was accurate, the third-party debt collector may again report that information and resume collection efforts.
Now from what I am reading and understanding of the statute is they have to send some type of written statement to my wife admitting to inaccuracy, denying inaccuracy or stating they need more time to investigate the inaccuracy. We never recieved anything, but the collection was taken off her Experian report and the last time I checked it was in February, but was still reporting on her Equifax Fico in February. I havent checked her reports since then but did they just take it off her report and not send us any type of statement? I wasnt going to check my wifes Equifax Fico until April again and if its still reporting what should I do next or can I do something now because I didnt recieve anything from them? We are planning on applying for Mortgage in May and we want this gone from her report if possible, Should we contact IC System again with another letter? Any advice would be helpful, sorry for such a long question.
Thank you.
