Need advise about PFD and SOL

[DeeBee18]

A CA was collecting on behalf of the OC (Discover), which was charged off in 2005. I DV them and came back verified and OC offered me a settlement offer for about $1,500. And once I pay them, they will update my account as "settled for less than full balance". Since they still own the account, Is it possible to send them a PFD? and counter offer them with the amount I want to PIF. Does PFD also work with the OC?

However, I am not sure if I send my PFD out to them , will it reset my SOL? I used to live in NJ, in which the SOL is 6 years and moved to CA couple of years ago, and SOL in CA is 4 years. Which SOL do I follow? Should I just leave it alone until it drops off? Im confused? Is my SOL over? On the letter, it stated that my SOL is not due as of yet?

If OC will only update as "settled for less than full balance", I'd rather leave it alone until it falls off in 2011, since it will not do any good to my CR if I pay anyways. Right?

Can someone please clarify? What are my options? What else can I do to get this account off my CR?

Below is the history of my account:

Status Details: This account is scheduled to continue on record until Apr 2011.

Charge Off as of Mar 2005 to Jun 2009
180 days past due as of Feb 2005
150 days past due as of Jan 2005
120 days past due as of Oct 2004 to Dec 2004
90 days past due as of Sep 2004
60 days past due as of Aug 2004, Apr 2004, Mar 2004
30 days past due as of Jul 2004, Feb 2004

[Anonymous]

Your DOFD/DOLA is 2/04.   This puts you past SOL in Ca. It will be past SOL in NJ  2/2010.

A creditor has the right to file suit in either the state where you live now OR where you received the credit. Usually they file in the state where you live now unless you are past SOL and the original state has a much longer SOL. Also they file suit if you owe a large amount money.

You should never DV or dispute an account that isn't past SOL unless you have the total amount due in case that they do sue you..

You said that you sent a DV but a CA does not verify (only the CRAs do this). A DV is asking for validation.

Did you dispute with the CRAs....did you mail a DV to the CA  CMRRR?     Did the OC mail you a letter of settlement or did that come from the CA?

When reported as settled for less/ or even PIF......it will drop your scores as it will update with all CRAs.

The OC can do whatever they want when they own the account. A CA can not offer anything unless the OC gives their ok.

The reporting that you posted, I take it that that is the OC reporting correct?

A lawsuit can be filed in Ca. BUT they can not win. In order for them to win they must file in NJ and before Feb.28,2010.

If it were me I would do nothing BUT keep in mind that you are not out of the woods until March 2010.

[DeeBee18]

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@Anonymous wrote:

Your DOFD/DOLA is 2/04.   This puts you past SOL in Ca. It will be past SOL in NJ  2/2010.

A creditor has the right to file suit in either the state where you live now OR where you received the credit. Usually they file in the state where you live now unless you are past SOL and the original state has a much longer SOL. Also they file suit if you owe a large amount money.

You should never DV or dispute an account that isn't past SOL unless you have the total amount due in case that they do sue you..

- - I figured that my SOL had passed already since I lived in California for the past 5 years now..ohh no..  Did i wake up a sleeping giant by doing this?

You said that you sent a DV but a CA does not verify (only the CRAs do this). A DV is asking for validation.

Did you dispute with the CRAs....did you mail a DV to the CA  CMRRR?     Did the OC mail you a letter of settlement or did that come from the CA? - - @I sent a DV to the CA after receiving a dunning letter from them in Sept 09. Soon after, I received a letter from OC that they are investigating my DV letter that I sent to the CA. And last week, I received a packet from the OC, with copies of my statement from them, but I noticed that they used my current address in the copies of the statetement dating back to 2003 to present. I actually lived @ my current address for only 4 months. Is that legit? or can I use that against them?

Did the OC mail you a letter of settlement or did that come from the CA - - The settlement offer came the OC the same time they sent me copies of the statement.

When reported as settled for less/ or even PIF......it will drop your scores as it will update with all CRAs.

The OC can do whatever they want when they own the account. A CA can not offer anything unless the OC gives their ok.

The reporting that you posted, I take it that that is the OC reporting correct? - - Yes, the OC is reporting on my CR.

A lawsuit can be filed in Ca. BUT they can not win. In order for them to win they must file in NJ and before Feb.28,2010.

If it were me I would do nothing BUT keep in mind that you are not out of the woods until March 2010. - - I will leave it alone, hopefully, it leaves me alone as well..

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Thanks for the advise! I appreciate it 

Message Edited by DeeBee18 on 10-21-2009 12:32 PM