Reply
New Member
Smc007
Posts: 3
Registered: ‎09-03-2012
0

Just found collections on credit report - too late for DV?

Hi All,

 

Getting married soon and ran my fiances report...two collections that she never got a notice for (moved around a bit). 

 

Medical:

Date of 1st delinquency: 10/2009

Balance Date: 10/2012

Status Date: 10/2012 (Notice this keeps staying current... it shouldn't right? )

Date assigned: 06/2010

Date Reported: 10/2012

 

Cox:

Date of 1st delinquency: 08/2010

Balance Date: 04/2012

Status Date: 04/2012

Date assigned: 10/2011

Date Reported: 04/12

 

Questions are:

1.) What do I need to keep an eye on above? Date reported, assigned, etc etc. 

2.) Should she still send a DV letter? Since she never got a notice - how does the 30 day notice that they send work? 


Thanks All! 

 

Frequent Contributor
novabama
Posts: 305
Registered: ‎08-24-2012
0

Re: Just found collections on credit report - too late for DV?

You can always send a DV but they do not have to reply. If it is timely (which yours would not be since they are so old) they simply have to cease and desist until they respond. Even though that is not the case, I would still send one. A few of mine disappeared after a DV. Most likely they will validate. If they do (or if you just don't hear anything) you can send a pay for delete letter in which they would agree to remove for your payment. That needs to be in writing. What are the amounts? If they are small just offer to PIF for deletion. Also, think about your SOL for your state. I doubt either of those are out of SOL, so that means they could technically sue. The factor for when SOL starts is your date of first delinquicy.Ignore all of those other dates, they don't matter.


Goal Score: 640 Good things come to those who wait.
Good things come to those who work their butt off and never give up.

Removals - Asset Acceptance, Receivable Solutions, LVNV Funding, Enhanced Recovery, Credit Systems Int, Discover Financial, Amchek/Amsher, Financial Adj Services, Chase, Target, AFNI, RJM, Portfolio Rec!
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Just found collections on credit report - too late for DV?

Without receiving a proper dunning notice a DV would be considered timely and would bar any collection activity from the creditor.  The DOFD would be the only relevant factor on these as it would set the dates for SOL and CRTP.  My suggestion at this time would be to send the DV and if they validate properly, try for a PFD.   Good Luck!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Mega Contributor
RobertEG
Posts: 17,720
Registered: ‎03-19-2007
0

Re: Just found collections on credit report - too late for DV?

These are what I call submarine collections..... reported and in your file with no dunning notice on their part, and thus no ability to address their inclusion unless you are lucky enough to have pulled your own CR.  They are hurting your scoring without prompt ability to address them.

 

FDCPA 809(a) requires any debt collector to advise a consumer by way of formal collection (dunning) notice, once they have initiated communication with a consumer on their collection on the debt, informing the consumer of their name, the name of the creditor, the amount of the debt, and of how to invoke their debt verification rights.

Dunning notice is required to be provided within 5 days of their initial communication.  Reporting to your credit report, while not specfically included in section 809(a) as an "initial communication with the consumer," has been interpreted by the FTC and the courts to consitute an action that triggers their requirement to send dunning notice.

 

The 30-day period for a consumer to request debt verification that invokes a cease collection bar on the debt collector is ONLY set by their sending of a dunning notice.

Absent dunning notice, and DV you send is timely, and thus invokes an automatic cease collection bar.  However, such a bar only applies to further collection activities, and thus is not basis for deletion of their prior credit reporting.

 

Failure to have provided required dunning notice is not basis for compelling CR deletion, but it is basis for filing a formal complaint with the FTC for their violation of their debt collection practices.  They must respond to the FTC, which might have impact on their dealings with you.  It is a tool.

 

Whether to now send a DV depends upon what you are attempting to accomplish.  If you dont acknowlege the debt or question its amount, a DV will bar any further collection until they provide that information.  However, sending a DV will preclude you from negotiating with them, such as by sending a PFD offer, until they have addressed your DV request.

 

 

 

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}