I was wondering if I can do a PFD w/o a DV? I am pretty sure these debts are mine and can pay them...under 500 dollars each, but can't wait for them to fall off after seven years. I recognize and found one CA but two others only partial names and no other information regarding accounts or payments. The only information I have regarding these at this time is from my CR. Any suggestions? Thanks in advance! Sincerely, Jacob Has anyone heard as I have, that a CA named "S&P Capital Investments" is out of business and collections on a CR by them can be removed? ....
I see different questions, so will give my input on each.
1. Can you do a PFD without a prior DV?
Certainly. The DV process is a debt collection practices matter under the FCRA, and PFD deletion is a credit reporting matter under the FCRA.
Not having DV'd within 30-days does not preclude you from DV'ing at any time, but does take away your ability to use the DV letter to compel a ban on their continuance of collection activities until such time as they provide verification of the debt. :Lack of a DV has nothing to do with how you pursue payment or CR deletion.
DVs are for two reasons. First, to have the debt collector state ("verify") that they have communicated with the OC, and have determined the debt is legit, and tell you how much the debt is asserted to be. Aside from all the controversy that surrounds what is required for adequate debt validation, assume their verification is adequate. Then, second, the DV letter required them to cease active collection activity until such time as they do provide verification. If you dont contest the validity of the debt, and you are not too concerned about barring their collection activities over the period until they verify, then the DV process really does not hold much benefit.
2. How can you locate contact information for a debt collector who has reported to your CR?
If they complied with FDCPA 809(a) and sent you proper dunning notice, then their contact address should already have been provided to you.
In the event you dont have it, then part of their reporting of a collection to a CRA requires identification of their name and contact address. This is not provided in most commercial credit reports, but can be obtained, if all other avenues fail, but simply sending the CRA a letter under FCRA 609(a)(1), which entitles you to the disclosure by the CRA directly to you of any and all information reported to your credit file. So file a request to the CRA for this information, and be sure to include their authorized processing fee, which is currently $11.00.
3. Suspecting that a party who has reported information to your credit file is no longer in business presents an opportunity to get CR deletion of their prior reporting. But it requires a little work. It works like this. IF you have a legitimate ground for disputing the accuracy of the information (and that is the key), then you can dispute it with the CRA. the CRA must then contact the party who reported the disputed information and get a verification of its accuracy within 30-days of your date of dispute. IF the party does not verify, then CR deletion is mandated. A party who is no longer in business is unlikely to verify back to the CRA. The key is presenting some legitimate basis for the dispute itself. That initial burden is on the consumer.
