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10-09-2012 09:01 PM - edited 10-09-2012 09:32 PM
OK. I've read up on DV's. I'm unclear on something. Do validation letters have to be sent out in the first 30 days? I don't know when they were added to my credit report, so hope that's not true.
I received a settlement letter from a CA that purchased a collection from a credit card company (HSBC). The HSBC account on my credit report shows a balance of $0, saying account sold. The collection agency has not reported it to my credit report yet and I'd like to avoid it being added. The settlement offer is for $252... balance being $722.
Should I ask them to validate the debt first? or Pay the settlement? or see if I can PFD? Is there anyway to get the negative HSBC account removed since they sold it? It says I have til November 2nd, 2012 to respond... assuming they will report this on my credit if I don't. How should I squash this?
I just noticed on the settlement letter, they are refering to LVNV Funding LLC as the creditor and HSBC as the "Original Creditor." Maybe LVNV Funding purchased it from HSBC, then Convergent Outsourcing (current CA who the letter is from) is working the collection for LVNV Funding. They refer to them as the client. Either way... neither company have reported anything to the credit bureas yet. Appreciate any advice here.
10-09-2012 10:06 PM
Per the FDCPA, you have 30 days to send a DV to the CA in response to their initial collection activity (usually via a dunning letter to you). IMO, it's OK to send a DV post-30 days. You lose the legal oomph within the letter, but most of my CAs responded after having sent out the DV months/years later.
You can't send a PFD if they aren't reporting. You can modify the PFD for a pay-for-not-reporting letter (e.g. I agree to pay $x in exchange for not reporting...please agree to these terms in writing). Is it possible it is too old to report? You can try to pay the settlement, but there's always a risk they'd report $0. However, if not paid they can report anyway. Catch 21.
It's normal for the OC to report as a paid CO. You could try GWing them once the debt is paid.
10-10-2012 01:19 AM
OK. I'll see if I can get them to agree to a pay-to-not-report. Should I just agree to the $252 or something less?
10-10-2012 05:18 AM
I always offered 100% in my PFDs, but that was because the need to have the baddie removed was greater than the need to save money. I didn't want $50 or so to hold up a deletion or to diminish the odds of a deletion. I also didn't want to be placed in a position where I had to increase the PFD offer because they rejected it at a lower amount.
10-10-2012 06:53 AM
With re: to your judgement you can go to court claim improper/noservice to you and if the attorney for the other side doesnt show uyp or have proof of you being served judge must vacate/dismiss judgement. Chances are they wont show because they have no proof for the court ot show u were properly served. THE END
10-10-2012 07:05 AM - edited 10-10-2012 07:06 AM
I actually do think I was not properly served notice. I was served notice for the first court date, traveled from Florida to Tennessee... a few weeks later it was dismissed. I never received notice that they set a new court date. I think they are using the first notice to apply to the second court date. I'm going to go up there in a couple weeks and hopefully get it removed... I may wait til this paid Capital One Auto settlement shows on my credit report... that way, if it becomes a headache I can show them it's been settled in full and maybe they will go ahead and vacate it.
10-10-2012 01:28 PM
Look bring all paperwork from original court date with u and the proof payment was made they should vacate get there early to get happy judge not tired n hungry one