Hello fellow FICO friends,
I am in need of some advise. I am in the process of trying to clean up the wreckage of my credit past and have mostly medical collections on my reports. NCO is listed on all three of my reports 8 times, all old medical collections. DOFD is 2005 and 2006 on all but one. This means I am past or near the SOL in my state of 5 years (MO)...is that correct?
My next question is what would be the next move for me? I have read to ALWAYS validate collections. The original creditors are not showing on my reports, only NCO. Do I send one DV letter with all the accounts listed CMRRR? Or should I do one at a time....or a few at a time?
I just want to get these things off my reports and I'm unsure of the best route to take? Advice is always appreciated very much!
It could be 10 years. If I read right, written contracts (assuming you signed medical docs) has a SOL of 10 years in Mo. I didn't read the statute but there's always an outside chance they have an SOL for medical debts. Worth a look. Now SOL is only important if you don't have the ability to PIF any given debt. If you don't have the ability to pay and SOL had not expired, then it is always a best practice to wait until one of the two conditions are met.
You don't validate. The CA (NCO) validates. By law, you had to have sent the DV within 30 days of their initial collection notice. However, sometimes the CA will response long after that 30 days expired. I'd send a DV without referencing the OC or any debt and see what they come up with. CMRRR of course.